If you are a regular reader of this site you will know that I normally do a profit report showing you how much money I make from matched betting each month.
This report will be a little different as it focuses exclusively on the Cheltenham festival.
Yes, it’s that time of year again!
The biggest event in the matched betting year where almost all bookmakers will have some kind of offers!
As you will have noted from my previous profit reports I have been gubbed by a lot of bookmakers.
Unfortunately for me I have been gubbed by Coral, William Hill, Ladbrokes, Skybet, Betway and Betfair Sportsbook all of whom had good offers for Cheltenham.
Luckily I have an unrestricted Bet 365 account because they had a £50 free bet promotion each day of the festival
If you bet £50 on any other Cheltenham race you would get a free bet for the main race of the day.
This meant they were giving out £200 of free bets during the Cheltenham festival.
Bookmakers are rarely this generous with their promotions.
That is why Cheltenham is perfect for matched bettors!
There are so many promotions during the Cheltenham festival it can be hard to keep track of them all.
Luckily Profit Accumulator do a Daily index of all the offers and how best to approach them to make maximum profit.
Here’s how Cheltenham 2019 went for me..
Day 1 : £80.43 profit
The first day of the festival normally has the most offers attached to it and this year was no different.
I also had some free bets that I had built up prior to Cheltenham.
The weekend before Cheltenham there were a lot of bookies offering free bets for day 1 of Cheltenham if you bet on a specific race or races on that day
These free bets made up a fair chunk of my Day 1 profit.
The aforementioned Bet 365 £50 offer made up most of the rest of my profit for Day 1.
Day 2 : £65.63 profit
The second day had less free bet offers but there were still plenty of offers to do.
Once again the Bet 365 £50 free bet offer made up a decent chunk of my day’s profit.
On the second day I did less ‘bet X get Y’ type offers and more of the ‘refund if’ offers.
In offers like these I would get my stake refunded as a free bet if the horse I backed finished second.
You need a bit of luck on your side with offers like these.
But if you back the favourite or second favourite you tend to have a better chance of getting the refund.
Day 2 was my best day for hitting the refunds on these kind of offers.
Day 3 : £119.80 profit
This was my best day matched betting on this year’s Cheltenham Festival
Once again the Bet365 offer netted me the biggest chunk of my day’s profit.
But on Day 3 I managed to combine this offer with the Bet365 4/1 offer that is available on all races that are shown on ITV.
If you back a winner at odds of over 4/1 on any ITV race you get a risk free bet for the next ITV race.
My £50 free bet won into the bookmaker at odds of over 4/1 so I got a £50 risk free bet (refunded as cash) for the next ITV race.
Two £50 free bets for the price of one!
I also did more’ refund if’ type bets on Day 3 which netted me more profit.
One offer I had been doing since Day 1 of the festival was the Bethard double winnings offer for the first race of each day.
You could simply back and lay hoping that your horse wins giving you double winnings against s smaller qualifying loss on your lay bet.
Or you can use the lock in calculator provided by Profit Accumulator to ensure profit no matter where your horse finished.
I locked in profit each day of the festival but unfortunately Bethard changed the offer on Day 3 to cap the double winnings to a maximum of £50.
Maybe they had taken a hammering from matched bettors and normal punters on the first 2 days of the festival and decided to cut their losses.
I was still able to make a decent profit from the offer using the lock in method so all wasn’t lost.
Day 4 : £33.83 profit
From the highs of Day 3 to the lows of Day 4!
Normally the final day of Cheltenham, Gold Cup day, is one of the best days for free bet offers and promotions.
Unfortunately this year was not like that at all.
There were hardly any promotions to do and that is why I ended the day on such a low daily profit total.
Once again the Bet 365 £50 free bet made up a good chunk of my profits.
But I made some losses trying to trigger the refund if second bets.
I also had some experience of ante post betting on the Day 4 races.
This is where you back a horse a few days before the race starts in the hope that you can get it at higher odds than the lay odds will be on the day of the race.
This is a risky strategy and one that I would not recommend.
There was a good reason why I backed a horse days before the race.
Sportpesa had a promotion where if you backed a horse to win the Gold cup, before 5pm on the Wednesday of Cheltenham, you would get a £25 free bet for the Grand National.
I backed one of the 3 favourites but by the day of the race the lay odds were not close to the odds I backed the horse at.
This left me with a £12.50 qualifying loss but a £25 free bet to come for the Grand National in April.
Day 4 was a disappointing way to end the festival due the lack of offers.
But overall the festival was an enjoyable and profitable experience for me.
In four days I made a grand total of £299.64 matched betting on the Cheltenham Festival.
Many people would have made a lot more than this.
But considering the number of bookmakers who have gubbed me I was very happy with my Cheltenham 2019 profits.
How much money did you make matched betting on the Cheltenham Festival.
Please share your thoughts and ideas in the comments section below.