The Cheltenham Festival is the biggest week of the year for horse racing fans, free bets and betting firms alike.
With four days of top-class Grade 1 racing and millions of pounds wagered, bookmakers across the UK roll out some of their most generous free bet offers of the year to attract new and returning customers. This guide explains how Cheltenham free bets work, what to look for in the terms, and how to get the most from them.
No Bet365 Account for Cheltenham? Bet £10 Get £30 in Free Bets
Sign up here and get £30 worth of free bets for Cheltenham 2027
Available to new customers only. Min deposit requirement. Free Bets are paid as Bet Credits and are available for use upon settlement of qualifying bets. Min odds, bet and payment method exclusions apply. Returns exclude Bet Credits stake. Time limits and T&Cs apply. Gambleaware.org. 18+ #AD
How to get a free bet for Cheltenham
Most major betting sites, including bet365, Paddy Power, William Hill and Sky Bet, run free bet deals in the days leading up to Cheltenham. For new customers these usually take the form of “bet £10, get £30” style sign-up offers, designed to get you registered before the first race on Tuesday. The free bets can typically be used across any Cheltenham race.
The best approach is to sign up early, claim any welcome offer before the Festival begins, and then keep an eye on daily promotions across the four days.
How do Cheltenham free bets work?
A free bet lets you place a wager using credit from the bookmaker rather than your own money. To unlock it you normally need to meet a qualifying condition, such as making a minimum deposit and placing a first bet at minimum odds. Once that bet settles, the free bet credits are added to your account.
To use them, add your selection to the bet slip and choose the option to use your bet credits. If the bet wins, you receive the winnings as real money, but the free bet stake itself is not returned.
Can I withdraw my free bets?
No. Free bets are promotional credits and cannot be withdrawn as cash. Winnings from a successful free bet can usually be withdrawn, subject to the bookmaker’s terms.
Offers for existing customers
Loyalty promotions matter just as much during Festival week. Bookmakers often reward regular customers with daily free bets, price boosts, extra places on big-field handicaps and money-back specials.
Some firms offer “non-runner no bet” in the run-up to the Festival, so you can place early wagers without losing your stake if your horse is withdrawn. That has become a major factor for punters looking to lock in early value.
One of the most popular promotion types is the “refund if you lose” offer, where your stake comes back as a free bet if your horse finishes second or falls. These are especially useful in big-field handicaps, where the outcome is hard to call.
Bookmakers also run race-specific offers, such as a free bet for the Gold Cup if you place a qualifying bet on earlier races that day. These tend to appear early each morning and are often time-limited, so check your bookmaker’s promotions page daily during Cheltenham week.
What to check in the terms
Always read the terms and conditions before claiming. Some free bets are only valid for 24 hours, others require minimum odds or specific bet types, and some exclude certain payment methods. Understanding the conditions up front avoids surprises when you come to use your credits.
Responsible gambling at Cheltenham
Please gamble responsibly and only stake what you can afford to lose. Offers are for over-18s only and terms apply. If you accept an offer through a link on this page we may receive a commission. For support, visit BeGambleAware.org or call the National Gambling Helpline on 0808 8020 133.