HOW ARE MY BETFAIR POINTS CALCULATED?

You earn Betfair Points for every bet you place on the Exchange or Tote.

Unlike a regular bookmaker, your wins and your losses will be recognised at Betfair. Commission will only be taken from your winning bets, but you will be credited with an implied commission from any bet that doesn’t win as well.

To calculate how many Points you earn in a bet, follow these steps:

• Multiply your commission rate (average is 5%, so 0.05) by your net winnings or losses in a market.
• You earn 1 Betfair Point for every 10 pence paid in commission or implied commission.

Winning Example 1

Place a winning £10 bet at odds of 3.0, giving you net winnings of £20.

If your commission rate is 5% you will pay £1 in commission on this bet, earning you 10 Betfair Points.

Losing Example 2

Place a losing £10 bet at odds of 3.0, giving you net losses of £10.

If your commission rate is 5% your implied commission is £0.50, earning you 5 Betfair Points.

To find out more about how Betfair Points are calculated, including further information about commission and discount rates click here.

HOW TO PLAY

Log in to the Cheltenham Cash Race site and bet on the Betfair Exchange between February 25 and March 10, 2014. The Betfair Points you earn will help you reach your personalised Points targets. Hit your Points targets and you'll win a cash prize. It really is that simple.

You are eligible to win a maximum of one cash prize in this promotion.

Your Points will be updated daily on the promotional site. We’ll aim to update your Points by 14:00 each day to include your previous day’s activity.

CHELTENHAM CASH RACE - TERMS AND CONDITIONS

Can I take part?

This promotion is only available to customers whose accounts are registered in the UK, Republic of Ireland, Denmark and Portugal.

What do I need to do to earn my cash prize?

You must first opt into the promotion by logging in to the Cheltenham Cash Race site.

Once you’ve opted in, all the Betfair Points you earn through placing Exchange and Tote bets between 00:00:00 GMT on 25/02/14 and 23:59:59 GMT on 10/03/14 (even those you might have placed before opting in) will qualify for this promotion and contribute to your progress towards a cash prize.

By opting into this promotion you are agreeing to be contacted with regards to this offer.

How do I earn points?

You need to earn Betfair Points by betting on the Exchange and Tote between 00:00:01 GMT on 25/02/14 and 23:59:59 GMT on 10/03/14.

You also need to ensure that you log into the promotional site during the Promotional period at least once to ensure that you are eligible to win a cash prize.

Once you log in for the first time during the promotional period, any Points you have earned since the start of the promotional period will added to your total.

Betfair Points earned on any other product except the Exchange and Tote do not count towards your Cash Race Points total. If you are using a Betfair Holiday at any point during this promotion, your Betfair Points will not be updated and hence any betting during a Betfair Holiday will not count toward this promotion.

How can I keep track of my progress?

Your points will be updated daily on the promotional site. We’ll aim to update your points by 2pm each day to include your previous day’s activity.

When will I receive my cash prize?

All prizes will be credited to qualifying customers’ accounts within 72 hours of the end of the promotional period. You do not need to claim your prize at the end of the promotion.

You are eligible to win a maximum of one cash prize in this promotion.

Customers with multiple Betfair accounts will have their Betfair Points targets set as an aggregate across their accounts. This means that customers with multiple Betfair accounts will only be able to claim ONE cash prize each.

Betfair will not be liable for awarding any cash prizes if the points requirements shown on the Cheltenham Cash Race site are incorrectly published due to technical or system error. In the event of an error, customers who wish to determine their actual points total requirements should contact Betfair customer services by emailing ExchangePromotions@betfair.com and quoting “CHELTENHAM CASH RACE Promotion Query”.

Betfair Standard-Promotional Terms and Conditions apply.