Cheltenham 2016

Cheltenham 2016 March 15th – 18th.

My first Cheltenham event, reading on ProfitAccumulator forum I was expecting big things from this event.  Sadly I was working through 90% of the event but there was plenty of money in the exchange the day prior to the races that I could back and lay on the evening before.  Bookmakers I used for this was Skybet, PaddyPower, Betfair sportsbook, WilliamHill & Bet365.

Skybet had a very nice offer where first race of each day, if your horse lost you got refunded your stake (upto £25), this was easy guaranteed money using the calculator SNR mode, choosing a high odds horse with a good lay match meant an easy £80+ over the 4 days.  Throw in some mug bets on the other non-offer races.

PaddyPower had their money back second upto £25 per race, this is really simple back and lay horse a horse and hope they finish second, use favorites/second favorites/ third favorites etc is the best strategy while ensuring you only take the close exchange matches (as I said before even the day prior to the events Smarkets had plenty of money in, I think the average lose was around 50p per bet.

WilliamHill Same offer as PaddyPower but only applied to your first bet per race. (£25 max refund per race)

BetFair Sportsbook If you back a horse with a starting price (sp) of 3/1 or more (decimal 4.0) and it wins you get the stake amount back as a free bet, this applied to every race at Cheltenham (the first day actually tripled your free bet winnings therefore a £25 bet on a winning horse would have yielded £75 in free bets).  First bet per race only, and the starting price of the horse NOT what odds you took the bet at.

Bet365 If you back a winning horse with odds of 4/1 (decimal 5.0) or greater your next bet up to the same stake as the previous winner (upto £50) would be refunded if it is a losing bet.  The idea is back and lay a selection, if that wins place your next bet on an eligible race in SNR mode, this will guarantee profit win or lose.

Cheltenham week my spredsheet recorded a £575 increase from the week prior, I estimate about £475 was from Cheltenham itself, very very worthwhile.  I estimate it took about 30mins betting for each of the 4 days, after taking so much profit from the bookmakers it is suggested to mug bet a little more than normal. Don’t feel tight when looking for matches between the exchange and bookie (ie don’t always go for the closest match if you care about longterm life of your accounts, and after such a weeks profit we can afford to lose a little money on mug bets).


These are the offers I did, ProfitAccumulator listed 3 times as many but I stuck to the ones I already had accounts with, I would have exploited it more if I wasn’t busy with work, but I am happy with the results I saw 🙂

Gubbed by BetVictor

Aww no, a dreaded e-mail from BetVictor I have been gubbed. I cannot place a single bet of any amount (not even 1p). I don’t think I will miss them financially, I used them for the ACCA refund a handful of times but looking back at the history I never took much from them offer or free bet wise (and I had less in my float than I had deposited). Perhaps it’s because all the bets I placed with them always used the odds checker and were always 98+ rating (something I have learned since is not a good idea, always have some lower 90 to 95 ratings in there). Anyway the e-mail went like this…

Dear **** ********,

We are contacting you today to advise that a business decision has been taken by our Senior Traders and I must inform you that we will no longer accept sports bets (including Virtual Sports) from your account number: <*******>.

Your account remains open and you can use the account for the Casino, Live Casino, Slots, Games and Poker. You are able to view all previous and outstanding sports bets.

As explained in our Terms & Conditions:

11.1 BetVictor reserves the right to suspend or close Your Account at any time and for any reason, including but not limited to the circumstances set out in the Terms and Conditions.
Please be advised that as BetVictor reserves the right to amend or withdraw any offers at any point and without notification, no sports betting bonuses will be valid on your account. Therefore any unused promotional cash in your account at the time of restriction is no longer available for use.

We understand that you may be disappointed by this decision, however this is a business decision taken by our Trading Department. Please be advised that our Customer Services staff are unable to assist you regarding the restriction of this service on your account.

Should you require further assistance, please send your queries to

Kind Regards,

BetVictor Contact centre.

This communication and the information it contains :-
a) Is intended for the person(s) or organisation(s) named above. Access to this mail by anyone else is unauthorised.
b) Is confidential and may be legally privileged or otherwise protected in law. Unauthorised use, circulation, copying or disclosure of any part of this communication may be unlawful.
c) May be susceptible to interference and should not be assumed that it has come in its original form and / or from the stated sender.
If you are not the intended recipient, please inform the sender immediately by email and delete it and all copies from your system.

BetVictor is committed to responsible gambling, for further information please visit

Onwards and upwards, that is Ladbrokes and now Betvictor. I like to learn from the gubbings and avoid a repeat.

Gubbed by Ladbrokes

My first gubbing (gubbed means to get barred banned or restricted). The e-mail went like this…

LOGIN ID: ********

Important account information

Hi *****,

We wish to advise you that we are restructuring our approach to bonuses, concessions, Free Bet refunds and Best Odds Guaranteed.

As a result a number of accounts, including yours, will no longer be eligible for bonuses, concessions, free bet refunds or Best Odds Guaranteed of any kind, effective immediately.

This restriction will be included in all future terms and conditions. All other terms and conditions remain the same and we sincerely look forward to your continued custom at Ladbrokes.

Please note any pending bonuses or concessions attached to your account have also been withdrawn.

Kind regards
The Ladbrokes Team

Betting Support 0800 731 6191

Gaming Support 0800 032 1133


Ladbrokes Betting & Gaming Ltd. is licensed (licence no. 1611) and regulated by the British Gambling Commission for persons gambling in Great Britain and Ladbrokes International plc & Ladbrokes Sportsbook LP, Suites 6-8, 5th Floor, Europort, Gibraltar are licensed (RGL Nos. 010, 012 & 044) by the Government of Gibraltar and regulated by the Gibraltar Gambling Commissioner.
18+ Please Bet Responsibly
Ladbrokes believes in responsible gambling, for more information go to Gamble Aware

Bit of a blow as I take mug betting seriously, as long as I learn and minimize the chances of it happening with my accounts held by other bookmakers. Take a look at the IESnare page to see how bookmakers may be watching your activity.

So far

I have closed the year off £3983 up since starting end of May, this is mainly doing Saturday horse racing refunds and football price boosts, in-play offers and initial signup offers (I count £800 is from sign-up offers).  I have used the following bookmakers so far…

Sporting bet
william hill
paddy power

My spreadsheet does not allow me to see who I have gained the most offers from, however I suspect Paddypower, B365 WilliamHill and SkyBet have been most profitable (Paddypower had a nice ongoing offer for money back second horse racing, this was very profitable, it has since changed to money back second to the starting price fav).