There’s a big day of racing at Cheltenham on Friday and it’s time for another Sky Bet money back offer! If our horse finishes 2nd or 3rd in the 13:50 at Cheltenham, Sky Bet will refund our stake as cash, up to a maximum of £10.00. Translated into matched betting terms, this gives us a potential profit of £9.21 and here’s how…

Key Terms:

  • This offer applies to our first bet on the 13:50 at Cheltenham.
  • Qualifying bets must be placed between 11:00 on Thursday 10th December 2020 and 13:50 (race-off) on Friday 11th December 2020.
  • If fewer than six runners come under starters orders, Sky Bet may withdraw the offer.
  • If our horse finishes 2nd or 3rd, Sky Bet will refund our stake as cash, up to £10.00.

Qualifying Bet:

If you’d like more information about qualifying bets and how they work, please see my qualifying bets guide.

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 or 3rd place finish.

Having looked at the odds available, we could place our qualifying bet on Kalashnikov at back odds of 6.00 (5/1) and lay odds of 6.40.

At the time of writing, laying our bet at Betfair gives us the smallest qualifying loss.

We can calculate our lay stake using my matched betting calculator…

As you can see, the calculator tells us that our lay stake should be £9.40…

Sky Bet logo

Place £10.00 on Kalashnikov @ 6.00 = Potential profit of £50.00

Betfair logo

Lay £9.40 on Kalashnikov @ 6.40 = Potential liability of £50.76

Outcomes:

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

Outcome Sky Bet Betfair Cashback Profit/Loss
Kalashnikov wins + £50.00 – £50.76 £0.76 loss
Kalashnikov finishes 2nd or 3rd – £10.00 + £9.21 + £10.00 £9.21 profit
Kalashnikov finishes outside top 3 – £10.00 + £9.21 £0.79 loss

So, we’ll make a nice profit of £9.21 if Kalashnikov finishes 2nd or 3rd and we stand to lose a maximum of £0.79 on any other outcome. Risking £0.79 to make a profit of £9.21 gives us effective odds of 12.66, which I’m sure you’ll agree, makes this a profitable offer in the long run.

If eligible, cash refunds will be credited within 24 hours of the race finishing.





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