Refund Offers
Get your money back when your bet loses — and turn it into profit.
Refund offers are the most common type of bookie promotion in Australia — and the most profitable when used correctly. These offers return your stake (usually as a bonus bet) if your wager loses under certain conditions.
For example: “Money back if your horse finishes 2nd or 3rd,” or “Refund if your AFL team loses by less than 12 points.”
At face value, these offers seem like a nice consolation for losing — but matched bettors know how to turn them into guaranteed or low-risk profit.
Here’s how it works: You place a back bet at the bookie offering the refund, then hedge that bet by using another bookie or laying on Betfair. If the back bet wins, your hedge bet loses – and vice versa – leaving you in a roughly break-even position. But if the refund condition is triggered, you break even like before, plus you get your money back as a bonus bet. You can then use simple matched betting techniques to turn that bonus bet into guaranteed cash.
The goal is to target matches or races where the refund condition has a decent chance of being met, while using calculated stakes to limit your downside if it’s not. These offers are available across horse racing, AFL, NRL, soccer, and more — with daily opportunities to profit.
With the right tools and strategy, refund offers become a consistent source of value — and a smart next step after completing your welcome offers.
How Bonusbank Helps
Our daily promo list shows every refund offer available and rates them based on expected value (EV). You’ll also find strategy guides for each type of promo, so you know exactly how to play them.
Same Game Multi refunds are some of the most common and valuable sports promos. Our SGM Finder scans thousands of markets to find the best-value legs — helping increase your EV even further.
Racing refunds are the most consistent way to profit from matched betting in Australia. Our HorsePower extension makes the whole process easy by highlighting races with promos, comparing odds, and calculating stakes.
FAQs
Am I guaranteed a refund if my bet loses?
Not always. Some promos are what we call “Free Cracks” — you’ll get a refund if your bet loses for any reason. More commonly, you’ll see “Conditional Refunds”, where your stake is only returned if a specific condition is met — like your horse finishing 2nd or your team losing by fewer than 12 points.
How many refund promos are available each week?
Hundreds. A single horse race can feature 20+ bookies offering refunds, while AFL or NRL matches often come with multiple SGM refund options. With so many opportunities, these promos are a consistent source of profit for matched bettors.
Does it matter what I bet on?
Yes. Refund promos increase the value of your bets — but betting smart still matters. By comparing odds and targeting the best-value bets, you’ll boost your EV and long-term profit. That’s where tools like HorsePower and the SGM Finder give you a serious edge.
How much risk is involved?
It depends on the promo type and your approach. Racing refunds can be hedged on Betfair for consistent, low-risk profit. Sports refunds can often be dutched against other bookies (especially when multiple bookies offer the same promo). SGM promos typically can’t be laid or dutched, so the risk is higher and a larger bankroll is recommended to manage variance.
