Am I looking at this completely wrong or is it possible to lock in a profit for each and every 'money back if it comes 2nd or 3rd' promo? I know people have looked at it before on the forum but played around with some figures today and just want to check if I'm missing something.

Let's say race 4 at Caulfield on saturday was money back if your horse runs 2nd or 3rd up to a max bet of $50.

We decide that we want to do this with the runner 'Last Week'. Because I don't have the BF data prior to jump or the fixed odds that were available i'm just basing this on assumptions for the point of the exercise. Obviously doing it in real time could be completely different but stay with me. Note i've based the BF commission on 7%.

Bookie bet: We place a $50 win bet on Last Week at $2.40 fixed odds

Betfair Win Lay: We place a win lay with betfair using a $44 lay liability (Odds $2.52)

Betfair Place Lay: We place a place lay with betfair using a $13 lay liability (Odds $1.32)

If Last Week Won:
We collect $120 for the fixed odds win bet then take away our stake ($50), our Win Lay ($44) and our place Lay ($13) and are left with a $13 profit.

If Last Week Placed:
We collect $26.92 profit from our Win Lay, we receive money back for our Bookie Bet and we lose $13 on our place lay for overall profit of $13.92

If Last Week Doesn't Place:
We collect $37.78 profit on the Place Lay, we collect $26.92 on the Win lay, but we lose $50 from our Bookie Bet for an overall profit of $14.70

Is there something I'm missing here or is this available basically each and every weekend that these promos run? Obviously its not huge winnings but its free money.

Josh, I haven't run through your numbers, but I can tell you that yes it does work, and it's even better when they offer money back on 2-3-4.

After running through your example I come up with the following.

Wins = +70, and -67 and -4 the place, = -1.
Places = -50 (+50), and +44 and -4, = +40.
Unplaced = -50, and +44 and +13, = +7.

There are ways to make it risk free, and if you lay the win shorter than you back, then there's no need to lay the place.

email me at punt mark at hot mail dot com.

Sometimes you can do it daily, not just weekly.

__________________
RaceCensus - powerful system testing software.
Now with over 409,000 Metropolitan, Provincial and Country races!
http://www.propun.com.au/horse_raci...ng_systems.html
*RaceCensus now updated to 31/10/2024
Video overview of RaceCensus here:
http://www.youtube.com/watch?v=W821YP_b0Pg

A few things also to consider.

How do you not get classed as a "bonus hunter" and limited with the bookies on those such deals.

Also those deals do not apply to NSW, SA generally so if you live in those states your generally out of luck.

Hi UB,
One has to be smarter than the bookie, it's very easy to take advantage and not get limited, if you think what the bookie software and bookies are looking at. A very astute punter has been banned by just about all bookies and keeps whinging on another forum and won't take advice. Bookies also share information, so basically if you're winning with one, you are flagged.
Take advantage of the bonus bets and act like a mug. If the horse wins, then back horses in race after race, laying on Betfair where the odds are close until that bonus is "transferred" to Betfair. You'll keep getting better and better offers, the more you lose with each bookie. William Hill gave me a one off $2,000 matched bonus! If you live in NSW or SA, or even VIC, go on live chat, and ask what promotions they can offer you, because the legislation is that they can't entice you to gamble by sending out offers, but if you have a funded account, go on live chat, and often they will give you something because your account is already funded. Take just promotions and it's all over very quickly! Take promotions and bet until you lose your bank, but win with Betfair and it's a steady income.

__________________
RaceCensus - powerful system testing software.
Now with over 409,000 Metropolitan, Provincial and Country races!
http://www.propun.com.au/horse_raci...ng_systems.html
*RaceCensus now updated to 31/10/2024
Video overview of RaceCensus here:
http://www.youtube.com/watch?v=W821YP_b0Pg

CP. Great advice in your post. I did not know about the live chat so very happy you shared that and that might entice me to give it a go.

I am not a bookie bonus chaser but any new techniques to grab some cash is always worth considering.

It won't work always UB, sometimes they'll just say check the promotions link, but if you deposit a decent balance but have lost to the bookie, and won on Betfair, you might just be surprised. These days, I rarely have to go on live chat, but if you're even a new customer, they'll usually give you something.

__________________
RaceCensus - powerful system testing software.
Now with over 409,000 Metropolitan, Provincial and Country races!
http://www.propun.com.au/horse_raci...ng_systems.html
*RaceCensus now updated to 31/10/2024
Video overview of RaceCensus here:
http://www.youtube.com/watch?v=W821YP_b0Pg

I appreciate the feedback Chrome. Thanks.

I'll look into it.