Ladbrokes run a regular £25 Refund offer for existing customers and this blog post is to help show you exactly how to profit from it!
Ladbrokes Refund Offer Summary
The £25 Ladbrokes Refund offer is available usually on one selected match each weekend. This week, the selected match is the epic England vs Scotland (Friday kick off 19:45).
Place a bet up to £25 any of the below markets of the selected match.
- Half Time/Full Time result (e.g. England to win at half time and full time)
- First Goalscorer
- Correct Score
If the match finishes in a draw and your bet loses, Ladbrokes will credit you with free bet up to £25!
So our strategy is to find the closest odds between Ladbrokes and the Exchange on the above market(s) and hope for a draw!
- You can place up to £25 bet on each of the three markets should you wish, for a total £75 bet and a chance to win 3 x £25 refunds.
I would recommend at most to do two markets, given it would look a bit suspicious to do all three. However, sometimes the odds are only good enough to make the Half Time/Full Time market profitable, as explained below!
Step By Step Guide
We want to find the closest odds between Ladbrokes and the Exchanges for at least 1 of the 3 markets listed above.
Rather than manually searching for this, I recommend using the filter function in the OddsMonkey OddsMatcher. You can save this too, meaning it is very quick for all future Ladbrokes refunds too!
- Limit Markets - Select 'Correct Score' 'HT/FT' and '1st Goalscorer'
- Limit Bookmakers - Ladbrokes
- Limit Exchanges - Optional if you don't use all 4 exchanges
- Search Text - Enter one of the team names
The first time you do this, click 'Save As' and call it 'Ladbrokes Refund'. You will then be one click away from this pre-saved filter by clicking the 'Select Filter: Default' dropdown on the top left.
This OddsMatcher will then list the closest odds between Ladbrokes and the Exchanges:
This tells me the closest odds for Half Time/Full Time (HT/FT) is Home/Home (i.e. England to win at half time and full time).
The odds are 2.0 on Ladbrokes and 2.2 on Smarkets with a 89.91% rating.
The rating is important as it tells me effectively my trigger bet loss. The rating here is 89.91%. So if I bet £25, I will retain £22.48 (£25 * 89.91%) which means I will lose £2.52 (£25 - £22.48) from my trigger bet.
To ensure the ladbrokes refund offer is profitable, I recommend only going with bets that have a 90% or higher rating! See 'Optional: Why 90% or higher?' at the bottom of this blog post if you're interested in why.
Trigger Bet Tip: Avoid Half Time/Full Time bets that end in a draw, or correct scores that are a draw. This is because if the match ends in a draw (the requirement for a refund), your bet may actually win meaning you don't qualify for the refund!
Using 'Normal' in the Calculator, enter:
- back stake (£25)
- Ladbrokes back odds
- Exchange lay odds
Your trigger bet loss will be £2 to £3 depending on how close the odds are.
Place your £25 Ladbrokes bet and your Exchange lay bet.
Time Saving Tip :Use the OddsMatcher arrow links to go directly to the Ladbrokes betslip and the Exchange market:
Now hope for a draw and you will receive a £25 free bet!
Convert this free bet to cash as usual and you should make up to £20 cash profit from the free bet.
Please ask me on Live Help or in the Facebook Group!
Optional: Why 90% Rating or higher?
How do we know if our trigger bet loss is low enough to make this a profitable offer?
Well, the key is likelihood of the game ending in a draw. Most matches have odds of around 3.0 to 3.5 for a draw, meaning I have around a 30% chance of a draw.
Assuming I pick a trigger that is not a draw (e.g. I do not choose Correct Score 0-0, 1-1), then this offer is worth £25 free bet * 30% = expected £7.50 free bet, as the draw will occur 30% of the time. This is worth at least expected £5.50 cash profit, assuming I convert this using high odds.
Now, if the rating is at least 90%, this means the most I lose is 10% of my £25 trigger bet, which is £2.50 trigger bet loss.
So overall, I will make £3 net profit from this offer, being an expected £5.50 cash profit from my free bet less the £2.50 trigger bet.
Bonus Tip: Lay The Draw To Make This Risk Free!
Currently my payout outcomes are, assuming a £2.50 trigger bet loss:
- Games ends in a draw: £25 free bet - £2.50 trigger bet loss
- Either Team wins: £0 free bet - £2.50 trigger bet loss
To avois losing £2.50 if either team wins, place a lay bet against the draw with a lay stake being your trigger bet loss (£2.50), this will have a liability of around £8.
This now means:
- Game ends in a draw: £25 free bet - £2.50 trigger bet loss - £8 liability
- Either Team wins: £0 free bet - £2.50 trigger bet loss + £2.50 lay stake
So now, if the game ends in a draw, I make a profit of around £7 profit if the game ends in a draw or if not, I do not lose a penny!