Sky Bet Cheltenham 2017 Offer | Money Back if You Lose

Cheltenham Festival 2017 gets underway on Tuesday and Sky Bet lead the way with a fantastic money back offer! Simply place a bet on the first race at Cheltenham each day and if it loses, Sky Bet will refund our stake as a free bet up to a maximum of £20.00. Translated into matched betting terms, this gives us a guaranteed profit of £52.00+ and here’s how…

Qualifying Bets:

This is a risk-free offer, so we can guarantee ourselves a profit on any outcome! If you’re unsure how to do risk-free bet offers, check out my Risk-Free Bet Strategy page for a walk-through guide on how it should be done.

This offer only applies to bets placed after 20:00 on Wednesday 1st March 2017 and is available on the following races…

Race	Time	Date
Supreme Novices’ Hurdle	13:30	Tuesday 14th March 2017
Neptune Novices’ Hurdle	13:30	Wednesday 15th March 2017
JLT Novices’ Chase	13:30	Thursday 16th March 2017
Triumph Hurdle	13:30	Friday 17th March 2017

We’ll need to select horses with long odds in order to maximise our profits.

The back and lay odds should tighten up on the day of each race. In the meantime, I’ll use fictional odds for the Supreme Novices’ Hurdle in the following example to illustrate how this offer should be done each day.

I like to place my exchange lay bets with Smarkets as they have great liquidity in the run up to races and the site is really easy to use. They are also charging 0% commission on the first race every day at Cheltenham!

We just need to select ‘Risk-Free Bet’ on my matched betting calculator and enter £16.00 as our ‘Cashback’ amount as we can expect to extract 80% of our £20.00 free bet refund as cash…

Back Bet (Bookie)

Back stake

Stake returned

Cashback

Back odds (decimal)

Back commission

Lay Bet (Betting Exchange)

Lay odds (decimal)

Lay commission

Min £

Max £

Lay stake required: £

Bookie

Exchange

Cashback

Total

If back (bookie) bet wins

= £

If lay (exchange) bet wins

= £

Total profit: £

Optimal Underlay

Lay stake required: £
Total exchange Exchange liability: £

If back (bookie) bet wins: £
If lay (exchange) bet wins: £

Optimal Overlay

Lay stake required: £
Total exchange Exchange liability: £

If back (bookie) bet wins: £
If lay (exchange) bet wins: £

As you can see, the calculator tells us that our lay stake should be £17.00…

Place £20.00 on River Wylde @ 11.00 = Potential profit of £200.00

Lay £17.00 on River Wylde @ 12.00 = Potential liability of £187.00

Let’s have a look at our potential profit/loss for the possible outcomes…

River Wylde wins	+ £200.00 – £187.00 = £13.00 profit
River Wylde doesn’t win	– £20.00 + £17.00 + £16.00 (extract 80% from our £20.00 free bet) = £13.00 profit

So, regardless of the outcome and with some good odds, we should make a guaranteed minimum profit of £13.00 each day. With four days of racing to look forward to, this gives us an overall guaranteed profit of £52.00+ on this Sky Bet Cheltenham 2017 offer!

If eligible, free bets will be credited within 24 hours of the race finishing. Free bets can be used on any sport and will be valid for 3 days.

I’ll update the following table with my actual selections after each race…

Race	Selection	Back Odds	Lay Odds	Profit
Supreme Novices’ Hurdle	Crack Mome	13.00	14.00	£13.43
Neptune Novices’ Hurdle	Bon Papa	21.00	22.00	£14.36
JLT Novices’ Chase	Politologue	8.00	8.60	£12.74
Triumph Hurdle	Master Blueyes	8.50	9.40	£12.38

* As you can see, I made an overall profit of £52.91 on this Sky Bet Cheltenham 2017 offer. *

Claim this offer

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Got a question?
Leave me a comment below…

I usually respond within 24 hours.

Matt Kirman – Matched Betting Blogger

Since 2014, I’ve blogged over £70,000 worth of profit, and made it my mission to make matched betting accessible to everyone.

john
Guest user

Hi,

can we place the bets now or does it have to be on the day?

+0
Reply March 12, 2017 at 10:56 am
1. Lewdog
  Guest user
  
  “This offer only applies to bets placed after 20:00 on Wednesday 1st March 2017 and is available on the following races…”
  
  +0
  Reply March 12, 2017 at 11:23 am
Tony
Guest user

Don’t forget 0% commission on first race of the day at Smarkets so profit is a shade higher mate 😉

+0
Reply March 12, 2017 at 10:57 am
1. Matt
  1329
  
  Thanks Tony, forgot that momentarily!
  
  +0
  Reply March 13, 2017 at 7:39 am
Matt
Guest user

What a time to be stake restricted

+0
Reply March 12, 2017 at 10:57 am
1. ali
  0
  
  Or GUBBED and restricted ?
  
  +0
  Reply March 12, 2017 at 11:09 am
Hardeep
Guest user

Hi Matt
Great blog as usual your doing sterling job!
Never done Cheltenham -are we able to back and lay all Cheltenham 1.30 races now ?
And can we put 0%in the commission for these if using smarkets?

+0
Reply March 12, 2017 at 11:36 am
1. Matt
  1329
  
  It’s best to wait until the day of the race mate as the odds will be tighter.
  
  +0
  Reply March 13, 2017 at 7:40 am
Will
Guest user

Wouldn’t it be more profitable to put cash back as 20? If we do the calculator gives a lay stake of £16.67, if the selection wins, we profit £16.63 and if it loses, we profit £12.67. So we would risk making a guaranteed extra £0.33 in the hope it wins and we end up making an extra £3.63 instead? Does that make sense?

+0
Reply March 12, 2017 at 12:24 pm
1. Jamie
  Guest user
  
  You’re actually likely to win more by putting a low cash back amount. Then if our horse doesn’t win, we make the guarenteed amount plus the extra that we didn’t account for in the free bet. A low cash back amount Lays more on the exchange and it’s the exchange we likely to win
  
  +0
  Reply March 12, 2017 at 3:33 pm
  1. Will
    Guest user
    
    No that is true but lets assume that we can find back odds of 11 and lay odds of 12 on all 4 races. Having cash back at 20 gives us lay stake of 16.67. If none of the horses we back wins then we make a net profit of £50.68 so we don’t make that extra £1.32 that we could have guaranteed. However, if only one of the horses we back wins then we can achieve an extra £2.64 bringing our net profit up to £54.64. Just a suggestion if anyone is interested in thinking of going about this offer this way
    
    +0
    Reply March 12, 2017 at 3:58 pm
    1. Matt
      1329
      
      You’re effectively gambling the £0.33 to make an extra £3.63 on a horse that is 10/1 to win.
      
      +0
      March 13, 2017 at 8:36 am
biscuit1966
2

Are Skybet partner friendly?

+0
Reply March 12, 2017 at 12:25 pm
Rad
Guest user

I don’t understand why the cashback value needs to be so low. If SkyBet refunds the whole amount and I find really tight odds why can’t I just enter £20? I’m trying to figure out the math behind this.

+0
Reply March 12, 2017 at 1:19 pm
1. Jamie
  Guest user
  
  Have you ever returned £20 from a £20 free bet? Whilst I think £16 is quite conservative, getting your £20 cashback from this offer is nigh on impossible unless you take a large high odds arb. Then you would be gubbed, like I was 🙁
  
  +0
  Reply March 12, 2017 at 1:44 pm
  1. Rad
    Guest user
    
    I still don’t get it. If I enter £20 in the calculator for cashback the total profit is £16 which is 80%. Entering £16 makes the total profit much lower.
    
    +0
    Reply March 12, 2017 at 3:14 pm
    1. Jamie
      Guest user
      
      Rad, we want to put a low cash-back amount in. We’re likely to win the lay on the exchange and so don’t want to rely on getting £20 from the free bet to make up the shortfall of the lower lay. The only way putting £20 is beneficial is if our horse wins (unlikely)
      
      +0
      March 12, 2017 at 3:36 pm
    2. Matt
      1329
      
      To guarantee the same profit on any outcome, you need to enter however much you expect to extract from the free bet refund into the ‘Cashback’ field. You can click ‘Show Advanced’ and use the slider to adjust your lay stake if you wish.
      
      +0
      March 13, 2017 at 8:28 am
  2. Terry
    Guest user
    
    It is possible to get back £20 from £20 if you have an in-play bet running. I have often got 100 % back and sometimes even more.
    
    On this offer I would lay £10 pre-race on a horse at say 8.0 to guarantee me £10 if it loses. I would then lay £5 at about 4.0 and a further £5 or more at about 2.0.
    
    If yours horse runs a good race you but doesn’t win you should hit the 4.0 and maybe even the 2.0.
    
    +0
    Reply March 13, 2017 at 7:34 pm
2. Alex
  Guest user
  
  It’s refunded as a free bet
  
  +0
  Reply March 12, 2017 at 2:39 pm
Ste
Guest user

Can’t we just use calculator on normal bet and if it losers extract from free bet

+0
Reply March 12, 2017 at 1:54 pm
1. Matty_C
  Guest user
  
  Because if it wins we make no money at all. With this method we have a guarenteed profit win or loose.
  
  +0
  Reply March 12, 2017 at 2:24 pm
2. biscuit1966
  2
  
  If you do it that way Ste,your lay stake would be £18.33 instead of £17.
  Your liability would be £1.63 or £1.67.
  Getting £16 from the free bet minus £1.67 =£14.33 profit.But,that’s if your horse doesn’t win of course,If it did win you will be down £1.63 overall!
  
  +0
  Reply March 12, 2017 at 2:57 pm
Ste
Guest user

OK cheers mate

+0
Reply March 12, 2017 at 6:57 pm
Jay
Guest user

Just a novice
When do you start doing these bets ?
day before ?
Or do them now for the whole week??

+0
Reply March 12, 2017 at 10:49 pm
1. Matt
  1329
  
  I would wait until the day of each race Jay as the odds are likely to be tighter.
  
  +0
  Reply March 13, 2017 at 9:02 am
Dylan
Guest user

In the T’s and C’s it mentions this about each way bets:
– If your horse loses we will refund all win singles and the win part of each-way singles as a free bet up to £/€20 within 24 hours.
– E.g. A £10 each-way bet (£20 total stake) would receive a £10 refund.

Does this mean I should place a £40 bet on the bookie side?

I can only find each way bets on Skybet…

+0
Reply March 13, 2017 at 5:32 am
1. Matt
  1329
  
  You don’t need to bet each way Dylan, you can just select the horse you want and leave the ‘EW’ box unchecked.
  
  +0
  Reply March 13, 2017 at 9:05 am
Ste
Guest user

So do we calculate as risk free bet first. Then if we win a free bet calculate as free bet snr

+0
Reply March 13, 2017 at 9:19 am
1. Matt
  1329
  
  That’s correct Ste.
  
  +0
  Reply March 13, 2017 at 10:30 am
Samuel
Guest user

On a side note. Do you think the bet amounts placed would count towards the Sky bet club offer?

+0
Reply March 13, 2017 at 9:22 am
1. Matt
  1329
  
  Yes Samuel, their money back offers usually do.
  
  +0
  Reply March 13, 2017 at 10:30 am
  1. Samuel
    Guest user
    
    Sweet. Cheers for your confirmation Matt.
    
    +0
    Reply March 13, 2017 at 9:50 pm
    1. Matt
      1329
      
      You’re welcome mate.
      
      +0
      March 13, 2017 at 11:34 pm
Hugo
Guest user

I bet quite high stakes with Skybet and they’ve got me as up to £50 maximum free bet. Happy Days! Anyone else got this?

+0
Reply March 13, 2017 at 1:35 pm
Pavel
Guest user

on skybet i must stake all 4 races make start first race ?
This offer only applies to your FIRST BET, on a horse that runs, placed on the 1.30 Cheltenham between 20:00 Wednesday 1st March and 13.30 Tuesday 14th March. Subsequent bets

+0
Reply March 13, 2017 at 7:31 pm
1. Matt
  1329
  
  You can do them each day Pavel, there’s no need to do them all at once.
  
  +0
  Reply March 13, 2017 at 9:38 pm
Chris
Guest user

Reading the T&Cs leads me to believe you can only get the risk free bet on one race, not the first races on every day of the festival. Am I mistaken?

+0
Reply March 13, 2017 at 11:16 pm
1. Matt
  1329
  
  I believe so Chris. It’s available on the first race each day.
  
  +0
  Reply March 13, 2017 at 11:37 pm
Michael
Guest user

Odds have changed quite abit. What happens if our selection is a non runner? I am guessing bets are void on smarkets and skybet?

+0
Reply March 14, 2017 at 8:36 am
1. Matt
  1329
  
  That’s correct Michael.
  
  +0
  Reply March 15, 2017 at 10:23 am
PaulE
Guest user

How long do the free bets last and what can you use them on?

Thanks in advance

+0
Reply March 14, 2017 at 9:52 am
1. Matt
  1329
  
  ’15. Free bets will be credited within 24 hours of the race. Free bets are non-withdrawable and can be redeemed on any sports market. Free Bets will expire 3 days after crediting.’
  
  +0
  Reply March 14, 2017 at 9:57 am
  1. PaulE
    Guest user
    
    Thanks
    
    +0
    Reply March 14, 2017 at 1:06 pm
Paul
Guest user

Great, thanks! Would you do them all / everyday? I wouldn’t want to get blocked!

+0
Reply March 14, 2017 at 10:27 am
1. Matt
  1329
  
  It’s up to you Paul. You shouldn’t have any issues doing the first race each day, so long as you throw in a few mug bets here and there.
  
  +0
  Reply March 15, 2017 at 10:29 am
Shaven
Guest user

Did first race came second sky immediately sent me a restriction notice after race and haven’t credited free bet .can they do this as the bet was accepted and race finished before Gubbins?

+0
Reply March 14, 2017 at 3:10 pm
1. Matt
  1329
  
  ’16. Sky Bet reserve the right to withhold, restrict or cancel this offer from individual account holders in accordance with its eligibility, promotion abuse and internal trading risk policies at its own discretion and without prior notice.’
  
  +0
  Reply March 15, 2017 at 10:46 am
Dizzee
Guest user

Hi there, at what time to you update your horse choice for the next day on this offer?

+0
Reply March 14, 2017 at 4:46 pm
1. Matt
  1329
  
  I’ll be updating the post after each race Dizzee. It’s just a case of finding a horse with long/tight back and lay odds and then using the ‘Risk-Free Bet’ setting on the calculator as explained above.
  
  +0
  Reply March 15, 2017 at 11:23 am
Shaven
Guest user

Edit to post ..sky later sent me a text saying they would honour free bet as it was short notice but I am no longer eligible from this point .That was after I withdrew my remaining sky balance. Better than nothing I suppose but it’s a pain to lose sky .

+0
Reply March 15, 2017 at 11:06 am
Dave
Guest user

I am having a mental block here; why would we just not even lay the qualifying bet so if we win we make a large profit and if we lose we extract 80% of the free bet?

+0
Reply March 16, 2017 at 8:21 am
1. Matt
  1329
  
  If you lose, you’ve lost £5.00 overall Dave…
  
  – £25.00 (back stake) + £20.00 (extracted from free bet) = £5.00 loss
  
  +0
  Reply March 16, 2017 at 9:09 am
Roman
Guest user

When does Sky credit free bets?

+0
Reply March 17, 2017 at 1:59 pm
1. Roman
  Guest user
  
  Sorted! 🙂
  
  +0
  Reply March 17, 2017 at 2:16 pm