Cash Refund on Lose / Risk Free bet

Often called a risk free bet or No lose bet, refund on loss bets are exactly as described. You place a bet, if it wins you get the winnings, if it loses the bookie refunds the stake.

Most bookies refund as cash but it’s worth watching out as refund as a freebet.
Unlike many bonuses, risk free bets are normally placed from your balance so you must ensure you have sufficient funds at the bookie to place the risk free bet. If it subsequently loses, the bookie will then refund the stake back to you which can then be bet with or withdrawn.

When calculating the lay stake ensure you factor in the refund amount so you’re not just gambling on getting a refund. For example,
Let’s assume a £25 risk free bet is placed at odds of 2.0 at the bookie 2.0 at the exchange and 0% commission.

Risk Free bet

If we ignore the refund and place a £25 lay at the exchange we’re left with a position where:

Gambling with risk free bet
Win at the bookie results in +£25 at the bookie and -£25 at the exchange
Win at the exchange results in +£25 at the exchange, £0 at the bookie (as the £25 stake is spent then refunded).

How to guarantee profit from a risk free bet?

By ignoring the risk free bet in the calculation we’ve got a position where we either break even or make £25 profit. I’d rather bet this in a slightly different way.

Guarantee profit from risk free bet
Instead of the £25 lay we’ll instead use a £12.50 lay.This time:
Win at the bookie results in +£37.50 at the bookie, and -£25 at the exchange

Guaranteed profit from Risk free bet or refund on lose bet

Win at the exchange results in £0 at the bookie (as stake is refunded) and +£12.50 at the exchange

We can clearly see that in this example we make £12.50 in either scenario.

How to maximise guaranteed profit from risk free bet

The guaranteed profit that you make is influenced by the odds that you bet on, for example if we were to increase these odds to 7.0 at the bookie and 7.0 at the exchange and place a £21.43 lay stake we would get the following:

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Win at bookie gives +£150 at the bookie -£128.58 at the exchange
Win at the exchange +£0 at the bookie (as stake is refunded) +£21.43 at the exchange.

Maximised guaranteed profit from risk free bet

By increasing the odds we’ve increased our profits from 50% of bonus to over 85% of bonus.

Remember in this example we’ve excluded commission and any difference in odds between the bookie and the exchange. In practice we’d aim for 75-80% profit from the free bet. If you’re having difficulty calculating the lay stake for a risk free / refund on lose bet you can try treating it as stake not returned bet, the lay stake calculation is the same. For hints on finding good markets to place risk free bets on check out the stake not returned bonuses post.

Where to start?

Check out our top 5 refund offer sign up bonuses:

NameBookieDepositBonusTAG RatingClaim Bonus
bet bright3030CClaim Bonus
Betclick1010BClaim Bonus
5025CClaim Bonus
Boylesports2550BClaim Bonus
expekt1010BClaim Bonus

3 thoughts on “Refund Bonuses | Risk Free Bet

  1. What if the your stake is refunded as a free bet? If your lay stake wins then you technically are down as you can’t withdraw the refunded stake as it’s a free bet. Even if you then match the free bet as in a normal matched bet, the profit gained from this won’t be enough to cover the loss on the first bet. Or am I missing something???

    1. The easiest way to do this is to assume that the refund is only 75% of the bonus amount. So if you get a £50 SNR refunded to you put £37.50 in your calculator to calculate the lay stake as this is about the amount you’ll get back in cash once you’ve used the free bet.

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