The Coronavirus has wreaked havoc with the Sporting World, however, the show still goes on for Horse Racing!
As we noted in our blog yesterday, you’ll start to see different Matched Betting offers and have to focus on other offers you usually wouldn’t think about.
Today we focus on one of them. Betfred is doing Money Back up to £10 if your horse finishes 2nd on selected Horse Racing.
This is a daily offer on selected races, so the potential profit over the course of the week means it’s worth doing.
- Max refund is £10 per race, credited in free bets.
- Promotion is online only.
- Only first bet on selected race counts towards this promotion.
- Five horses must run for promotion to apply.
- Bets must be placed pre-off.
- Multiple bets don’t count.
What You Need:
- A Betfred account
- An exchange account with an available balance big enough to lay back your bets
- You need to be familiar with using the Profit Rush Price Matcher and Bet Calculator.
That’s all you need to get started, it’s simple! Let’s go through the steps so you can get the most money.
Step 1 – Place our qualifying bet:
You have to find out what the daily selected race is first. You can do this by following the link through the Profit Rush Calendar and see the Betfred page here. After finding out what the selected race is, you can then choose from two options:
- Find the best matches in the Profit Rush Price Matcher.
- Back the horses you feel will most likely be certain to place, however, this could lead to higher set-up costs.
We recommend you opt for using the Price Matcher, but also be aware of what is likely to place. Be shrewd with your choices. It might be a good idea to focus on favourites or second favourites, as they have more chance of being a close match and also being involved at the finish obviously.
For now, we’re going to give you an easy example to fully understand how to profit from the offer.
Let’s say Horse A is trading 5.5 (9/2) with Betfred and is 5.7 to lay on Betfair. Remember, this is a daily offer so if you can’t find a close match on the selected race just wait until the next daily race!
For step 1, we’re going to place a £10 bet on Horse A to win at 5.5 with Betfred.
Step 2 – Lay off on the exchanges:
After placing our qualifying bet, we’re going to lay off our bet with Betfred on the exchanges. Horse A is trading 5.7 on Betfair, so we put this information into the Profit Rush Bet Calculator. You should see a screen like this:
As you can see, this has cost is £0.51 to set-up. Now there are a number of possible outcomes based on where the horse finishes. Let’s look at them with a simple table:
|Outcome||Bookmaker||Exchange||Profit & Loss|
|If Horse Wins||£45||-£45.50||-£0.50|
|If Horse finishes 2nd||Cashback (as free bet)||£9.49||£9.49|
|If Horse doesn’t finish 1st or 2nd||-£10||£9.49||-£0.51|
Check the prices in the Betfair place market before selecting your bets too and you will see what an incredibly profitable offer this is over the long-term. OK, we accept it’s tricky to finish 2nd all the time, but you can see how this offer is worth it over the course of the year.
Remember also, you get a refund as a bet free. So you need to use that to turn it into cash.
Step 3 – Turning Free Bet Refund Into Cash
To do this, we look for another close match in the Profit Rush Price Matcher. The free bet lasts for seven days, so you have plenty of time to find a close match.
Because you have seven days, aim for a very good match. We’re going to suggest an example of backing 7.0 on Betfred and laying 7.2 on Betfair. Put this information into the Bet Calculator. You should see a screen like this:
As you can see, this locks in a profit of £8.17 and you have to take away the set-up cost of £0.51. That leaves us with a profit of £7.66. Based on our figures, you would need to select a horse that finishes second once in 15 bets to break even. Ideally, you will hit a second more than this and be in profit. As always, only bet when the odds are good and you can find value with your position.
With the Coronavirus impacting on sports, it is offers like this that can keep us going until the Sporting World returns!
Not sure about something in this offer? Click here to ask us on the community forum now.
Did you find this article helpful?
Check the Profit Rush Daily Calendar for more and come back tomorrow for another daily offer!