There’s a big day of racing at Cheltenham on New Year’s Day and you don’t want to miss this Money Back Special from Paddy Power! Simply place a bet of up to £10.00 on the 14:00 at Cheltenham and if our horse finishes 2nd, 3rd or 4th, Paddy Power will refund our stake as a free bet, up to a maximum of £10.00. Translated into matched betting terms, this gives us a potential profit of £7.40 and here’s how…
Key Terms:
- We must place our bet between 10:00 on Tuesday 31st December 2019 and 14:00 (race-off) on Wednesday 1st January 2020.
- Offer applies to the win market and the win part of each way bets only.
- If less than 7 runners take part, this offer will revert to money back if 2nd.
- If our horse finishes 2nd, 3rd or 4th, Paddy Power will refund our stake as a free bet, up to £10.00.
Qualifying Bet:
If you’re unsure about how to place qualifying bets, check out my Qualifying Bet Strategy page for a walk-through guide on how they should be done.
It’s entirely up to you which horse you go for, but it would make sense to select a horse with fairly short odds in the hope of a 2nd, 3rd or 4th place finish.
At the time of writing, the lay odds aren’t quite tight enough, so I’ll use fictional lay odds for Kalashnikov (7/2) in the following example and I’ll update the bottom of the post with an actual selection after the race.
We can calculate our lay stakes using my matched betting calculator.
Aim to lose no more than £0.60 on our qualifying bet
Outcomes:
Let’s have a look at our potential profit/loss for the possible outcomes…
| Outcome | Bookie | Exchange | Extracted | Profit/Loss |
|---|---|---|---|---|
| Kalashnikov wins | +£35.00 | -£35.60 | £0.60 loss | |
| Kalashnikov finishes 2nd 3rd or 4th | -£10.00 | +£9.40 | +£8.00 | £7.40 profit |
| Kalashnikov finishes outside top 4 | -£10.00 | +£9.40 | £0.60 loss |
So, we’ll make a nice profit of £7.40 if Kalashnikov finishes 2nd, 3rd or 4th and we stand to lose £0.60 on any other outcome. Risking £0.60 to make a profit of £7.40 gives us effective odds of 13.33, which I’m sure you’ll agree, makes this a profitable offer in the long run.
If eligible, free bets will be credited within 2 hours of the race ending and will be valid on any horse racing market for 7 days.
If you’re unsure how to extract £8.00 cash (80%) from the £10.00 free bet, check out my Free Bet Strategy page for a walk-through guide on how it should be done.
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