BetMGM pays out first £250,000 Cheltenham giveaway prize

BetMGM has confirmed the first winner of its £500,000 Cheltenham Festival giveaway, which was split across two £250,000 prizes for punters at this year’s meeting.

A customer named Steve, from County Durham, received the payout after placing a £2 qualifying bet with the operator during the festival, which concluded on Saturday 15 March 2025.

Winner placed bet while watching races on big screen

According to BetMGM, Steve is an occasional bettor who uses the platform for football and horse racing wagers. He said he entered the promotion after spotting the offer while watching the Cheltenham coverage on a big screen at Sedgefield Racecourse with a friend.

Steve said the win had yet to fully sink in, adding that he intends to put some of the money towards his retirement fund and investments, while also using part of it to clear car loans and fund home improvements.

Second £250,000 winner still to be confirmed

Sam Behar, UK Director at BetMGM, described the festival as a strong four days for the operator, highlighting the BetMGM Queen Mother Champion Chase as a feature race. He confirmed Steve as the first of two winners in the £500,000 giveaway, with his account credited the full £250,000.

BetMGM has yet to announce the second winner of the promotion.