Horse Racing Refunds

For anyone who wants to make long-term profit from matched betting, horse racing refunds will form a staple of your weekly betting. The basics of these offers are that if your horse, which you’ve bet on, either wins or comes 2nd (and sometimes 3rd),  you’ll get a refund as a free bet. There’s lots around; most of the larger bookies do them, although some offers are better than others. More on that later.

The fundamentals of horse racing are as follows:

  1. Saturday has the most offers and will be your busiest day. ITV’s televised racing, which was Channel 4 racing, runs between 2pm to 4pm, and bookmakers offer their best promotions during this time. Place your bets well in advance of this to get the best offers so Saturday morning/early afternoon.
  2. Minimise your qualifying losses. Don’t rush into this and accept any loss when backing and laying your selection. As a rule, we’d be looking for matches which have a rating of 95+ on the oddsmatching software. Once you’ve got a match 95+, add it to the close matches forum. Others will do the same and pretty soon it’ll be the only place to go
  3. Here’s a basic format of how to complete these offers. We’ll start with the Bet365 offer. Find a match above (and around) 4/1 (5.0). Back and lay as Normal. You’re qualifying loss should ideally be less than £3.00 to maximise profitability. You’ll make money on these every 1 in 5 or 6, with the gain a £50 free bet, which you’ll make c.£35 from. If you lose £3 a time, and lose 6 for every win, your profit for doing these will be £17 for every 6 you bet – ( £35 – (£3 x 6 bets) =  £17) . The Sky Bet 1st race of the day is also a very profitable bet and is completed in a similar way, as are the others.
  4. Start small. Bet on a 1 or 2 races to begin with before really getting stuck in. You’ll need a significant bank (funds) to back more than 1 or 2 so take your time and build your bank up through these and other offers. Once you’re ready to bet on 5 or 6 in one day (or more) you’ll reap the benefits..

So, what offers are out there?

  • SkyBet – 1st race of the day offers a refund if your bet comes 2nd or 3rd. Great place to start. Check an example of their ts & cs here.
  • Bet365 – If your horse wins at odds of 5.0 or more, get a free bet to the same value as your stake for the next race (not a refund, but works in the same way and needs careful attention so you don’t waste your free bet). Full details can be found here.
  • William Hill/Sporting Bet/Betway/Ladbrokes/Betfair – refund as a free bet if your selection comes 2nd.
  • Others (not as good value) where you’ll receive a refund if your selection comes 2nd to the favourite. Paddy Power/888Sport/Betfred amongst others.

There are others out there, but for now, we’d stick with these. Start with the Sky Bet offer, then progress to the Bet365 offers, then onto William Hill/Sporting Bet etc. If you bet all the above, you’d have a lay liability of several thousand £…

What do we recommend you avoid for now? We’d say the extra place offers. These are no way near the same level of profitability as the winner matches due to bookmakers only paying out 1/5 or 1/4 odds. This seriously impacts your ability to make money from these, and affects the amount you’ll have to lay to make money (i.e. lots).

To sum up our advice, start small, grow slowly, pick which offers you participate in carefully, build both your confidence and bank, and you’ll make long-term profits from horse racing refunds. You’ll find a consistent flow of offers on either our Blog here or Forum here.