When placing bets on horse racing, there can be many different elements to look out for, such as each-way bets and the Rule 4 deduction. However, one of the most fascinating features is actually an offer that bookmakers can provide to their users, which is the racing refund offer. In this popular offer, bettors can be awarded a bonus amount if they bet on a horse to win, and it finishes in a specific position, such as second, third or fourth. By using the racing refund calculator, we can create a matched betting scenario which can cut out any potential losses.
Here at OddsMonkey, we are going to look through exactly what the racing refund calculator is, how it can work and why bettors should be taking advantage of it.
What Is The Racing Refund Calculator
The racing refund calculator is specifically designed for those offers where bettors will be awarded a bonus amount if their horse does not finish first. This effectively offers insurance to the bettor as they will be awarded a bonus value if their horse does not win the race. The calculator is used to create a matched betting scenario by placing lay wagers against the back bets, meaning no matter what happens during the horse race, the bettor will not make any losses.
The racing refund calculator is similar to other betting calculators at OddsMonkey, as it is specifically designed for a unique offer. Although it is only used for one specific offer, it remains extremely popular and can significantly enhance your ability to capitalise on this offer. By forming a matched bet, the racing refund calculator is another tool that matched bettors should have in their arsenal.
Now that we know what the racing refund calculator is, we will go through exactly how it can be used and how to navigate through this calculator when looking to place bets.
How To Use The Racing Refund Calculator
The racing refund calculator is quite simple to use, and all you need are the details of the offer, the back bet you are going to place and the odds of the same event at the betting exchange. First, you must put the calculator into the correct mode, as this calculator can accommodate different offers, such as second-place refunds, second- and third-place refunds, and second-to-fourth-place refunds.
Once you have set the calculator to the correct mode, you must then enter the different details of the back bet, offer, and lay bet into the calculator. Once these values have been input into the calculator, it will produce the results.
The results will display how much you will need to place on both lay bets, as you need a lay bet for placing and a lay bet for winning the race to ensure you have all outcomes of the race covered. Matched betting is all about having all outcomes covered, and if you are interested in learning more about matched betting, we have a highly detailed matched betting blog available at OddsMonkey.
Why Use The Racing Refund Calculator
The racing refund calculator is a tool designed to help bettors maximise the benefits of offers and promotions in sports betting. By inputting all the information into the calculator, the racing refund calculator will instantly inform you of what lay bets you need to place, making matched betting simpler than doing it by yourself. Similar to the value betting tools we offer, the racing refund calculator simplifies the process for users, as the mathematics is done for you.
Speaking of mathematics, that is another reason why using the racing refund calculator is beneficial, as the calculator can help eliminate human error in mental arithmetic, as it will clearly display what you can expect to return from the bets. By not using the calculator, you will have to work out all the potentially difficult mathematics behind matched betting, which can lead to errors and, therefore, losses.
Who Can Use The Racing Refund Calculator
Similar to other useful tools at OddsMonkey, the racing refund calculator is available to be used by any visitor to the site. This means it is not behind a paywall and is available for free whenever you need it. Of course, this calculator should only be used when you are trying to create a matched bet using race refund offers; it cannot be used for any other offers or matched betting scenarios.
With the calculator being a matched betting calculator, we would recommend that novice bettors become familiar with matched betting techniques before trying to take advantage of this offer. Our matched betting calculator is a great place to start for new matched bettors.
✅Using the racing refund offers
✅Creating a matched bet
❌Not using the racing refund offers
❌Wanting to bet on other sports (e.g. football, cricket)
Racing Refund Calculator At OddsMonkey
The racing refund calculator is a simple way for matched bettors to create more matched betting opportunities by making the most of different promotions and offers! Being the perfect calculator for horse racing bettors, the racing refund calculator is a vital tool that all matched bettors can have at their disposal.
If you are looking for other calculators that you can take advantage of throughout sports betting, check out tools such as our accumulator calculator and our each-way calculator.
