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 If it subsequently loses, the bookie will then refund the stake back to you which can then be bet with or withdrawn.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.
If we ignore the refund and place a £25 lay at the exchange we’re left with a position where:
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.
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:
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.
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:
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