Guaranteed Profit Method
How To Complete Refund Offers
Reading Time: 10 mins
What Is A Refund Offer?
A refund offer is one that if you place your first bet and it loses then you will receive either a free bet or in some cases a cash credit, hence it being called a 'refund' offer. You’re getting a refund in some form for a bet that you lost.
How Does a Refund Offer Work?
The difference between refund offer and bet x get y offers is that with bet x get y, you will receive a free bet regardless of the outcome. With refund offers, you will only receive one if your bet loses.
These offers are well worth completing and you can make an easy risk free profit using the Team Profit calculator (set on refund mode)
How Do I Attempt Refund Offers?
There are two ways you can attempt refund offers.
☝️ You can simply back and lay a bet using the normal calculator and hope your bet loses and then receive the free bet
✌️ You can guarantee profit using the refund calculator. The first method isn't great as you will be taking a small loss and you won't necessarily receive the free bet as your trigger bet may win. Because of this, we highly advise you to use option 2. The guaranteed profit method.
The refund calculator gives you a lower lay bet that the normal mode on the calculator. This means that:
If your trigger bet wins (and so we don't get the free bet) our bookmaker winnings are now higher than the liability, so we make a profit
If our trigger bet loses then we make a bigger qualifying loss (as the lay stake is less), however we get the free bet to still make a profit.
Let’s explain this further using the examples below 👇
Refund as a free bet
Bet £10 and get a refund as a free bet if your bet loses.
Using the refund mode on the standard calculator:
-Enter your back stake as £10
-Enter your back odds and lay odds. *Higher odds are ideal for these types of offers. For this example, we'll use back odds of 4 and lay odds of 4.3.
-Enter reward as £10 as this is the value of the refund.
We now need to enter our retention %. Since the refund is in the form of a free bet, we would enter this retention% as 75%. Why is that you wonder?🤔 (read more in the next section of this guide)
The refund calculator then gives us a lay stake of 7.59
*If your bet goes on to win, you are instantly in profit in the amount of £4.95 and job done!
*If your bet goes on to lose, you will be at a loss of £2.40 but then you will receive a £10 free bet and make £7.50 from this (75% retention) which will bring you into profit in the amount £4.95
Retention % if refund is a free bet
This is the % that your free bet will convert to cash that will be yours to keep i.e. retain. This depends entirely on what odds you intend to use your free bet on, if it's triggered.
🛎️The higher the odds, the more profit you make, but just be wary you will need a higher Betfair liability. Therefore, enter the highest free bet retention you believe you can achieve based on your Betfair balance. Ideally aim for 75% if you have £100+ in your Betfair account.
If you go for low odds, your retention % will be less and hence less profit so you want to aim for higher odds and ensure that you have the liability to cover this.
Refund as cash
Bet £10 and get refund as cash if your bet loses
Using the refund mode on the standard calculator :
-Enter your back stake as £10
-Enter your back odds and lay odds. *Higher odds are ideal for these types of offers. For this example, we'll use back odds of 5 and lay odds of 5.4.
-Reward as £10 as this is the value of the refund.
We now need to enter our retention %. Since the refund is in the form of cash, we would enter this retention % as 100%. Why is that you wonder? 🤔(read more in the next section of the guide)
The refund calculator then gives us a lay stake of 7.43.
*If your bet goes on to win, you are instantly in profit in the amount of £7.31 and job done!
*If your bet goes on to lose, you will be £2.25 down but then receive £10 cash as a refund and bring you into profit in the amount of £7.28.
Retention % If Refund Is Cash
This is the % of the value of your refund which you will retain i.e. convert to profit that is yours to keep. This depends entirely on what odds you intend to use your refund on if it's triggered.
If the refund is in the form of cash, higher odds are more profitable. You would enter retention as 100% as cash doesn't have to be wagered and therefore you would retain it all, hence 100%.
💡Buschra's Top Tip: If you ever get an offer that is a cash refund if your bet loses, you can use the free snr mode on the standard calculator as an option and that will give you the same result as doing 100% retention on the refund calculator.
⚠️This method cannot be applied to free bet refund offers.
Hope you found this guide helpful!
Happy profiting folks! 🤑