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A New Way to Make Money From Betting on Horses

There is a new and exciting way of earning money by betting on horse racing.  This is easier than arbitrage and potentially a lot more profitable. 

With arbitrage, you try to find races where a bookmaker has odds that are a lot higher than another, and exploit the difference. This is very time consuming and not as easy or as successful as it is made out to be. 

This new method exploits the new trend in online sports books to offer cash back to losing punters.  Basically, you bet a horse with the sports book, and lay the same horse at similar or slightly worse odds at betfair.  Your hope is that the betfair lay will win and the sports book back will lose.  At this point you will have lost your credit at the sports book and have nearly all your money at betfair.  However, at the end of the month the cash back sports book gives you a percentage back of all of your losses.  The best offer at the moment is 25% back, however this does have a stipulation of only 8% of turnover. You will have a higher turnover than your total losses as inevitably some of your backed bets will win, but keep gambling it and eventually all your money will be in betfair and all your losses will be at the cash back sports book.  Then, at the end of the month, you need to remember to put in the monthly redemption code and claim your cash back.  

There are one or two pitfalls to watch out for. If you do not use betfair much you have to pay them a 5% tax on all your profits, which will reduce your profitablility. You should also only bet when the sports book has good odds relative to betfair. You will never (or hardly ever) get a situation where the sportsbook odds are higher than betfairs lay price, but you must try to minimise the percentage difference between betfair and the sports book. As a rule of thumb, don’t gamble unless the sports book odds are as good as all of the other sports books.  Finally, ensure you have enough money in betfair to cover your liabilities. Don’t back 20.0 selections because they could see you paying back 20x your stake to betfair should they win.  You want the money flowing from the sports book to betfair, not the other way round, so low priced 1st or 2nd favourites is best. 

To see the latest cash back sports books visit our site www.cresswellsschoolofgambling.co.uk.

Good luck.