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Cheltenham is the most profitable event of the year in matched betting. It is an opportunity to make enough profit for a month during four days.
Last year, I took time off work to focus on matched betting for Cheltenham Festival full time. And I did not regret it, making £635 in a few days. This year, I am passing on my tips and trips so you can grab a slice of the cake, too.
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What Is Matched Betting?
Matched betting is an easy way to earn extra money from home. It provides a tax-free income and only takes a few hours of work. Despite the name, matched betting is not gambling. Instead, you use bookmaker promotions to lock in a profit no matter the event’s outcome.
What Is the Cheltenham Festival?
The Cheltenham Festival is a yearly horse-racing event in the beginning of March. It is huge, with multiple races over four days, usually from Tuesday to Friday. It is the leading horse racing event in the UK alongside the Grand National.
Because it attracts a huge crowd, bookmaker offers are generous. You can make a lot of money in a short period. It is not uncommon that matched bettors make their monthly income within a few days of the festival.
Beware if You are a Beginner
Betting at Cheltenham is fast-paced, and odds change quickly. If you only started matched betting, you may find it overwhelming. You are also at increased risk of making errors due to the time pressure.
As a new matched bettor, you can take advantage of some easy offers. Apart from that, it’s better to wait a year until you are more experienced.
Tips for Matched Betting Cheltenham
1. Familiarise Yourself With the Schedule
It is easy to lose track of what happens and when you must place bets. For example, offers may require you to place a bet within 20 minutes before the start.
You also do not want to risk backing a horse and running out of time to lay it. For this, you must know the event schedule. You can find it on the Cheltenham Festival website. To understand what to expect, consult previous years’ schedules.
Take note of the time each race starts. The races with the most and best offers usually occur between 3 PM and 5 PM. The first and last days to be the most profitable.
You can ask other matched bettors if you read this before your first Cheltenham. Many will be happy to tell you about their experiences. You can find them in the Outplayed or OddsMonkey forums.
Taking Time off Work
Consider taking time off work. If you work, you will miss out on many good offers for several reasons:
- There are too many offers to place all bets during your non-working hours.
- Some offers may become available on short notice while you work.
- For some offers, you must place your bet at a specific time, often before the start of the race.
- Placing your bets at odd hours increases your risk of account restrictions.
I recommend taking time off work. If you can’t or have other commitments, try to free up the time before the races. You should prioritise the first day if you cannot take off the whole week. This day is typically the most profitable.
2. Sign up to as Many Bookmakers as Possible
Many matched bettors wait for Cheltenham to sign up, expecting enhanced offers. Yet, only a small minority of bookmakers will offer these.
Additionally, you risk not having your account set up on time. Sometimes, you must verify your account first, which can take longer than four days.
Bookmakers often check their customers’ accounts shortly before Cheltenham. As a result, many matched bettors get restricted right before the festival starts.
Mug Betting During the Cheltenham Festival
Sign up early and mug-bet to avoid losing your account. Of course, not every bookmaker will have offers during Cheltenham (though most will). Placing mug bets with a bookmaker who offers nothing is a waste of time.
Plus, you cannot mug bet with every bookmaker, given that there are so many. The big bookmakers always have special offers, so they should be your first choice for mug bets.
3. Withdraw From Bookmaker Accounts
There will be lots of offers, making money management crucial. You want to avoid the case of having an empty exchange and £100 of free bets with 20 minutes left to place them. You want to have as much money as possible in your bank account at the start of the festival.
Review your bookmaker accounts a week before the festival starts and withdraw. If your balance is below the withdrawal threshold, deposit a tenner and withdraw immediately.
This is safe with most bookmakers, though a few may require you to wager your deposit. In this case, a few rounds of blackjack will do the job.
Build up Your Bankroll if You Do Not Have Enough Money
You need as much money in your bank account as possible. This will enable you to complete more offers and protect you from losing liquidity.
If you don’t have enough money, complete more high-profit offers before the festival. Despite this, avoid high-risk offers even though these are the most profitable. High-profile offers can also deplete your bankroll due to their high variance.
Right before Cheltenham, be cautious and stick to low-risk offers. Consider adding cash from your personal bank account to your matched betting pot. This will prevent you from running out of liquidity when you need it.
4. Sign up to Outplayed
Every matched bettor needs a matched betting service. It makes your matched betting more time efficient and enables you to make more money for two reasons:
- You can always find the closest or best-value matches with the Oddsmatcher.
- Because you can lay through the integration, there is less risk for error and laying bets is fast.
You are probably already signed up, but if not, get your free trial with Outplayed. You can then progress and pay £1 for your first week of Outplayed Platinum.
I recommend staying signed up, but you can also cancel your membership.
5. Sign up with OddsMonkey
You can also sign up for OddsMonkey if you already have an Outplayed membership. Do the same as above; grab a £1 for a week trial and cancel. For Cheltenham, it is worth having both memberships.
6. Open a Separate Bank Account for Matched Betting
If you use your normal bank account, consider opening a separate one for matched betting. Many traditional high-street banks block gambling transactions. They may suspend your account if you have frequent transfers to bookmakers.
A great bank account for matched betting is Monzo. Monzo is a free mobile phone-based app popular amongst matched bettors. Monzo also lets you turn off your card when you are not matched betting. This feature reduces fraud risk.
7. Practice Horse Racing Offers
If you are unfamiliar with horse racing offers, you should practice. The offers during Cheltenham are like the regular horse racing offers but enhanced. Looking at the ongoing horse racing promotions will help you prepare. Then, you can stay calm during the festival and make fewer mistakes.
Both Outplayed and OddsMonkey have a list of recurring horse racing offers. Work through the list until you have completed each offer at least a few times.
The most common offer types include:
- 2nd to starting price (SP) Favourite
- 2nd place refund
- 4/1 winner
- Fallers insurance
- Extra places
8. Get Paper and Pen Ready
Cheltenham brings the busiest days for matched bettors. Using a bet tracker or Excel file is great, but you may want to note down something while being busy.
9. Never Gamble
Whatever you do, never gamble. You are in gambling territory when you place a bet that is not laid (and does not classify as advantage play).
Gambling can be a way to quick riches, but it is mostly a way to quick debts. If you start gambling, you can lose your matched betting profits in one day. Your hard work will be in vain; you may even use your regular savings. If you feel tempted to gamble, matched betting is not the right side hustle for you.
10. Do not Stress out
With those profitable offers and limited time before each race, it is easy to feel stressed. This is especially true when you factor in real-life commitments. Attempting complex offers can also add to the stress.
However, you don’t win by stressing. On the contrary, you are more likely to make mistakes. It is crucial to stay calm. This may mean you cannot complete all offers or need a break.
Best Bookies for Matched Betting Cheltenham
Many bookmakers have offers during Cheltenham. You can expect the best offers from the major bookmakers. You probably already have accounts with them:
- PaddyPower
- Coral
- Skybet
- Bet365
- Ladbrokes
- Betfred
- William Hill
- Betfair (Exchange and sportsbook)
- Smarkets (Exchange)
Some less popular bookmakers will also have great offers. Check the daily offers list on Outplayed and OddsMonkey so you do not miss out.
How Much Money Can You Make During the Cheltenham Festival?
How much money you can make depends on many factors. Generally, you can expect to make between £100 to £300 per day during the Cheltenham festival. As it is a four-day event, you can expect to make £400 to £1200.
Some matched bettors will make more than others. Do not compare yourself to other matched bettors. They may have started with more time, money, and experience.
Matched Betting Cheltenham Summary
In matched betting, Cheltenham is the single most profitable event. Getting ready is crucial. In particular, you should:
- Familiarise Yourself with the Schedule for Cheltenham
- Sign up to as Many Bookmakers as Possible
- Withdraw from Bookmaker Accounts for Matched Betting Cheltenham
- Sign up to Outplayed
- Sign up with OddsMonkey for Matched Betting Cheltenham
- Open a Separate Bank Account for Matched Betting
- Practice Horse Racing Offers
- Get Paper and Pen Ready
- Never Gamble
- Not Stress out
Need more help with matched betting? Read my top 17 tips for matched betting.
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