Refund offers: turn money-back promos into profit
Bookies run money-back and bonus-back promos every day on racing and sport. Most punters treat them as a consolation prize. Matched bettors use them to make a profit, long after the welcome offers are done.
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Two kinds of refund, two ways to play them
Every refund promo is one of these. Knowing which one you’re looking at tells you how to bet it.
Refund if it loses
Your stake comes back as a bonus bet if your bet loses for any reason. You can build the refund into your lay bet and lock in the same profit whatever the result.
Refund on a condition
Money back only if something specific happens, like your horse running 2nd or 3rd or your team losing by a small margin. Most bets cost a few dollars, and the refunds more than make up for it.
Multi and SGM refunds
Money back if one leg of your multi or same game multi lets you down. Picking the best-value legs makes a big difference, which is what the SGM Finder is for.
A worked example: refund if it loses
A bookie offers your stake back as a bonus bet if your bet loses. You back a team for $50 at 3.00 and lay it at Betfair at 3.10. Commission is 5%, and you convert the bonus bet at about 75%. The lay stake is smaller than usual, because the refund already covers part of a loss.
The bets
| Back at the bookie: $50 at 3.00 | $50.00 |
| Lay at Betfair: $36.89 at 3.10 | $77.46 liability |
| If it loses, the bookie refunds | $50 bonus bet |
The outcomes
| Team wins: $100 bookie profit, less $77.46 liability | +$22.54 |
| Team loses: $35.04 lay win, less the $50 stake | -$14.96 |
| Plus the $50 bonus bet refunded, converted | +$37.50 |
| Profit if the team loses | +$22.54 |
Example odds only, not a current offer. The result assumes you convert the refunded bonus bet at about 75%, which is typical with matched betting. Refunds on a condition work differently: see the racing worked example, where a 2nd or 3rd refund turns into +$33.84 when it lands.
Refund offer calculator
Pick the refund type, enter the odds, and see your lay stake and what the promo is worth.
The hard part is knowing which refunds are worth it
Refund promos change every day and across every bookie. Some are great value, plenty aren’t, and checking them all yourself takes hours.
🔒 Members see every refund, rated
The promo database lists each day’s racing and sports promos and rates them by value, with a guide for how to play each type.
See the promo databaseYour refund toolkit
Racing and sports promo databases
Every refund promo in one place each day, rated by value, so you only spend time on the ones worth doing.
About the promo database →HorsePower
Shows the best bookie price and the Betfair lay for every runner, live in your browser. Racing refunds take seconds instead of minutes.
About HorsePower →SGM Finder
Scans same game multi markets for the best-value legs, so your SGM refund bets are worth more before the refund even comes into it.
About the SGM Finder →Questions people ask
Am I guaranteed a refund if my bet loses?
Only with a refund-if-it-loses promo. Most refund promos are conditional, so your stake only comes back if something specific happens, like your horse running 2nd or 3rd. Always read the promo terms before you bet.
How much can I make from refund offers?
A refund-if-it-loses promo can lock in a profit on every bet: the $50 example above made $22.54 whichever way it went. Conditional refunds pay off over time instead. Because bookies run them every day, refunds are where most ongoing profit comes from once your welcome offers are done.
Are refunds paid in cash or bonus bets?
Usually as a bonus bet, occasionally as cash. A bonus bet keeps about 70 to 80 percent of its value once you convert it with matched betting, so a $50 bonus bet is typically worth $35 or more in cash.
Do I need a Betfair account?
For most refund promos, yes. You lay your bet on the Betfair Exchange to cover the other outcome, and you need enough in your account to cover the lay liability.
Which Bonusbank plan do I need for refunds?
Standard includes the racing and sports promo databases, HorsePower Lite and all the calculators. Plus adds full HorsePower on 80+ bookies. Pro adds the SGM Finder for same game multi refunds.
Make today’s refunds count
Start with the free course to learn the method, then use the promo databases to find the refunds worth doing each day.
Free beginners course · No credit card needed · Takes 2 minutes