Paddy Power are offering both new and existing customers their money back as a free bet on a selected horse race every day of the week, which represents a great chance for us all to make some risk free money every day.
How Does The Offer Work?
Every day Paddy Power select one race a day that qualifies for the refund. The selected race for today can be found here. The specific offer varies, it could be money back as a free bet if your horse falls, or money back if your horse comes second, etc, etc.
You will need to check Paddy Power for the terms of the refund on the selected race. If the terms are met (ie, falls or comes second), then Paddy Power will give you your money back as a free bet, up to a maximum of £50.00. The free bet can then be used on any horse racing market over the next 7 days. Simple enough!
How To Make Money On Paddy Power Horse Racing Refunds
Find a horse in the selected race that has odds with Paddy Power, that are very similar to the odds on the Betfair Betting Exchange. ie, a horse that is 2/1 on Paddy Power and 2/1 to 11/5 on Betfair would qualify.
We then back the horse for £50.00 on Paddy Power, and lay the horse for £50.00 on Betfair.
Then if the horse wins, you win on Paddy Power, and lose on Betfair – meaning you break even or suffer a minimal loss.
If the horse comes 4th or lower, you will lose on Paddy Power and win on Betfair – meaning you break even or suffer a minimal loss.
While if the horse comes 2nd or 3rd, you will lose on Paddy Power, and win on Betfair, but you will also get a free bet from Paddy Power, up to a maximum of £50.00.
This means you can then do a similar thing with your free bet. You pick a horse on Paddy Power to back with your free bet, and you then underlay the horse on Betfair, to ensure a profit.
How this works is, you find a horse that is 6/1 (for example) on Paddy Power. Have your £50.00 free bet on it, which will stand to win you £300.00. You then lay that horse on Betfair for around £40.00 at odds of 6/1 or slightly greater.
This means that if the horse wins, you get £300.00 from Paddy Power, but lose around £260.00 on Betfair. While if the horse loses, you win approximately £40.00 on Betfair, but lose nothing with Paddy Power, resulting in a £40.00 risk free profit.
You don’t have to use £50.00 stakes, that is the maximum refund from Paddy Power. You can just use £5.00’s or £10.00’s until you are happy with what you are doing.
It is important to try and find odds on the horse on Paddy Power that are as close as possible to the odds on Betfair, that way you don’t lose money placing your qualifying bets. The less you lose on your qualifying bets, the bigger the profit when you get the 2nd or 3rd place finish and subsequent free bet – today’s refund race can be found here.
You won’t win on this offer every day, but as the example above shows, when you do win, it will be a good result.
More offers can be found like this on Profit Maximiser, which specializes in finding offers like this to complement the 100 plus sign up offers that are already on the Profit Maximiser website, and making members between £500.00 and £1000.00 a month.