Cheltenham Festival 2023 continues on Thursday with the Turners Novices’ Chase, and you don’t want to miss this Virgin Bet offer! Place a bet on the 13:30 Cheltenham, and if your horse loses, Virgin Bet will refund your stake as a free bet up to £10.00. Translated into matched betting terms, this gives us a profit of £6.50 and here’s how…
- Applies to single bets on the 13:30 Cheltenham (Thursday 16th March 2023).
- Applies to pre-race bets of up to £10.00.
- Your stake will be refunded as a free bet if your horse loses.
- If eligible, your free bet will be credited within 2 hours of your qualifying bet settling.
- The free bet will be valid on any sport for 7 days.
- The free bet stake will not be returned with any winnings.
If your bet loses, your stake will be refunded as a free bet, so you can treat this as a ‘Money Back if Bet Loses‘ offer.
It’s best to select a horse with long odds to maximise profit.
At the time of writing, ‘Balco Coastal‘ is available at back odds of 11.00 (10/1) and lay odds of 12.00.
Either exchange works for this offer
Betfair and Smarkets are both great options for this offer. If you’ve not used one of them, now is a great time to give them a try.
- 2% commission for all new signups
- 0% commission for 60 days
You can work out your lay stake using the ‘Money Back if Bet Loses‘ setting on my Matched Betting Calculator. You can enter ‘£8.00‘ as your ‘Cashback’ figure as this is the amount you can expect to convert your £10.00 free bet into, should your bet lose.
As you can see, the calculator tells us that your lay stake should be £8.50.
Place £10.00 on ‘Balco Coastal’ @ 11.00 = Potential profit of £100.00
Lay £8.50 on ‘Balco Coastal’ @ 12.00 = Potential liability of £93.50
Let’s look at your profit/loss for the possible outcomes.
So, no matter the outcome, you’ll profit £6.50 on this Virgin Bet offer!
If your qualifying bet loses, your free bet will be credited within 2 hours of settlement. Your free bet will be valid on any sport for 7 days, and the free bet stake will not be returned with any winnings.
If you’re unsure how to convert a free bet into 80% cash, please see my ‘Free Bets Guide‘ for a walkthrough.
Don’t miss out on one of the most profitable weeks of the matched betting calendar! Please see my ‘Cheltenham Festival 2023 Offers‘ page for a comprehensive list of available bookmaker offers.
* Stage Star won the race, resulting in a £6.50 profit on this Virgin Bet offer. *
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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.