Paddy Power - Money Back if Horse Loses (13:45 Cheltenham)

It’s another big day of racing at Cheltenham on Sunday and you don’t want to miss this Paddy Power offer! Place a bet of up to £10.00 on the 13:45 Cheltenham and if it loses, Paddy Power will refund our stake as a free bet. Translated into matched betting terms, this gives us a guaranteed profit of £5.30 and here’s how…

Key terms

  • Money back as a free bet if our horse loses in the 13:45 Cheltenham.
  • Applies to bets placed between 15:30 on Friday 12th November 2021 and 13:45 (race-off) on Sunday 14th November 2021.
  • Offer applies to the win market and the win part of each way bets only.
  • Applies to bets of up to £10.00.

Qualifying bet

Losing stakes are refunded as a free bet, so we can treat this as a risk-free bet offer.

We’ll need to select a horse with long odds in order to maximise our profit.

At the time of writing, Go Another One is available at back odds of 6.00 (5/1) and lay odds of 7.00.

We can work out our lay stake by using the ‘Risk-Free Bet’ setting on my Matched Betting Calculator. We can enter £8.00 as our ‘Cashback’ figure as that’s the cash amount we can expect to convert our £10.00 free bet into if our horse loses…

As you can see, the calculator tells us that our lay stake should be £7.45…

Place £10.00 on Go Another One @ 6.00 = Potential profit of £50.00

Lay £7.45 on Go Another One @ 7.00 = Potential liability of £44.70


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

Outcome Paddy Power Exchange Free Bet Profit/Loss
Go Another One wins + £50.00 – £44.70 £5.30 profit
Another horse wins – £10.00 + £7.30 + £8.00 £5.30 profit

So, no matter the outcome, we’ll make a guaranteed profit of £5.30 on this Paddy Power offer!

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 convert your £10.00 free bet into £8.00 cash (80%), please see my free bets guide for a walkthrough of how it should be done.

* Yala Enki won the race, resulting in a profit of £5.30 on this Paddy Power offer. *

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