How to maximise your matched betting profit from a 2nd place refund offer.
Matched betting tips: 2nd place refunds
2nd place refunds are one of the most common matched betting offers you’ll see. It’s a great opportunity to make a matched betting profit and it’s a popular option for all matched bettors. So how do ‘2nd place refund’ offers work and how can you maximise your profit from them?
What is a 2nd place refund?
You bet on a horse, if that horse finishes 2nd, you receive your stake back. Some sites offer a variation of the offer that sees you receive a free bet instead of a cash refund, but the end result is almost the same.
How can you profit from 2nd place refund offers?
Find a horse race that is offering a 2nd place refund and look for the best matched betting opportunity. Typically, these offers will limit your stake to £10 (although it can be larger), so ideally your qualifying loss will be no more than about 30-40p. In other words, once you’ve placed your £10 bet and laid it at the exchange you’ll be about 30p down.
If your horse wins the race, you’ll get paid at the betting site, but lose at the exchange and the opposite will happen if your horse loses. Either way, your overall loss will be around 30p.
The perfect outcome is for your horse to finish in second place. In this scenario, you’ll win at the exchange, lose at the betting site, but also receive your £10 stake back, giving you an overall profit of around £9.70. (-30p + £10)
Obviously, there’s a high chance that you don’t lansd the second place horse. In which case you’ll be 30p down. However, over time this is a very profitable matched betting offer. Because of the low qualifying loss, you only need to hit second place once in every 25-30 races to break even. In reality, you’ll probably hit second place a lot more than that, so the offer is very profitable for matched bettors.
2nd place refund offers are often available for big races and at the weekend. Some of the betting sites that run 2nd place refund offers include Skybet, William Hill, SportingBet, Betfred and Betway. Always remember to check the terms and conditions as the eligibility requirements can vary. There will be a maximum stake allowed and often a minimum odds requirement to meet. It’s also important to check whether the refund is paid in cash or in the form of a free bet.
Matched betting companies like Profit Accumulator and Oddsmonkey not only have tools to help you find the best 2nd place refund matched betting offers, but they also calculate the qualifying loss and expected value from them. It saves you time and helps to maximise your potential profit.