Sky Bet are leading the way with a Cheltenham offer on every day of the Festival and they’re opening with a cracker on Tuesday! Simply place a bet on the Supreme Novices’ Hurdle at Cheltenham and if it loses, Sky Bet will refund us as a free bet up to a maximum of £25.00. Translated into matched betting terms, this gives us a guaranteed minimum profit of £14.84 and here’s how…
Qualifying Bet:
If you’re unsure about how to place qualifying bets, check out my Qualifying Bet Strategy page for a walkthrough guide on how it should be done.
For this particular offer, we need to select a horse that has a decent chance of losing so that we receive the free bet refund. It therefore makes sense to place our qualifying bet on a horse with long odds. Having looked at the odds on offer, I’ve opted to keep my qualifying loss to a minimum and place my qualifying bet on Seedling. Depending on how much cash you have in your Betfair account, you may wish to opt for a horse with shorter odds.
Place £25.00 on Seedling @ 21.00 = Potential profit of £500.00
Lay £21.92 on Seedling @ 24.00 = Potential liability of £504.16
Let’s have a look at our potential profit/loss for the possible outcomes…
| Seedling wins | +£500.00 – £504.16 = £4.16 loss |
| Seedling doesn’t win | -£25.00 + £20.82 + £20.00 (extract 80% from our £25.00 free bet) = £15.82 profit |
So as things stand we will make £15.82 profit if Seedling doesn’t win and a loss of £4.16 if he does win. It’s not often that we are able to do this but by placing a further back bet on Seedling, we can guarantee ourselves a profit on any outcome…
Place £0.95 on Seedling @ 21.00 = Potential profit of £19.00
Let’s have a look at our overall profit/loss for the possible outcomes…
| Seedling wins | -£4.16 + £19.00 = £14.84 profit |
| Seedling doesn’t win | £15.82 – £0.95 = £14.87 profit |
So regardless of the result of the Supreme Novices’ Hurdle, we will make a guaranteed minimum profit of £14.84!
If you’re unsure how to extract 80% of our £25.00 free bet, check out my Free Bet Strategy page for a walkthrough guide on how it should be done.
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Matt Kirman – Matched Betting Blogger
Since 2014, I’ve blogged over £85,000 worth of profit, and made it my mission to make matched betting accessible to everyone.