Racing Refund Calculator
The Racing Refund Calculator is an advanced Matched Betting Calculator use to lock in a profit from selected horse refund offers.
You can find the Racing Refund Calculator here.
Bookmakers will sometimes have a horse refund promotion where you get your money back (either as cash or a free bet depending on the offer) if your horse finished in second place.
This offer will sometimes involve more places (Eg. Refund if your horse finishes in second, third or fourth place).
This Racing Refund Calculator can be used for any amount of places refund as long as the correct lay market is available.
Note that this cannot be used for 2nd to the SP favourite offers.
One method for these offers is to back and lay your horse as 'normal', then hope they come in one of the refund places
However we can lock in a guaranteed profit with this guide.
For this guide we will be using this offer as an example:
We will be betting on the horse MickeyWaffle with the following information:
Sky Bet Back Stake - £20
Sky Bet Back Odds - 3.6
Pocketbet Lay Odds - 3.7
Betfair 3 Place Lay Odds - 2.34
HOW TO USE
- Back your selection to win at the bookmaker.
- Lay your selection to win at the exchange for the amount the calculator says.
- Lay your selection to place (in the correct amount of places for the offer) for the amount the calculator says.
REFUND TYPE
Select the refund type that applies to your offer. In our example it is "Second and Third Place".
If you happen to have an offer that isn't an option to pick, such as "Second, Third, Fourth or Fifth", then choose "Second Place" and imagine that it says "5 Place" instead of "2 Place".
Back stake - The stake we're placing at the bookmaker on our horse to win. In our example this is £20.
Back odds - The back odds of our horse at the bookmaker. In our example this is 3.6.
Bonus Amount - The amount we we will be refunded should our horse come in one of the refund places. This is £20 in our example.
Bonus Retention - The amount we expect to retain from our refund. In our example the refund is cash so we have put 100%. If the refund is a free bet you should enter around 80% for this box.
Win Lay Odds - The lay odds on the exchange for our horse to win the race. In our example this is 3.7.
Win Lay Commission - Our exchange commission for the win lay bet. Since we're using Pocketbet for our example, the commission is 0%.
Place Lay odds - The lay odds of our selection to come in the amount of places refunded up until. In our example it is the 3 Place market that we're laying and the lay odds of this are 2.34.
Place Lay Commission - We're using Betfair in our example for this lay so it is 5% commission.
Important note - This section is all about laying the place market. You want to lay the amount of places up to the refund on offer. For example if the offer is refund for second place, you lay the 2 place market. If the refund is for second, third or fourth, you lay the 4 place market. In our example since we get a refund for second or third place, we will be laying the 3 place lay market.
On Betfair you need to find the correct Place market. They will have a few different options.
Here we have clicked Place and you can see it is for the top 3 places over on the right hand side.
RESULTS
The calculator will then show you the amount you how much you should lay on the exchange against your horse to win In our example the calculator tells us to lay £14.05 against MickeyWaffle to win the race.
The calculator will then show you the amount you should lay on the exchange for your horse to place. In our example the calculator tells us to lay £8.73 against MickeyWaffle to come in the top 3 places in the race.
Remember that if your refund was as a free bet, you'll need to back and lay this as 'SnR' should your horse finish in the refund places.
It is recommend that you place your bets reasonably close to the start of the race so that non-runners are less likely and thus the places on offer won't be reduced.