Spreadsheet for Cash and % Refunds
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by Betformulas » Sun Jan 10, 2010 1:42 pm
Football – Cash & Percentage Refunds.
A spreadsheet showing the stakes for trading these offers can be downloaded here: Refund_Cash_Lose_only. You will need Excel 2000 or a later version to view the spreadsheet.
There are 2 spreadsheets in that file, accessed via the Tabs at the bottom of your Excel screen.
One sheet is for percentage refunds, and the other is for refunds of a specified amount of money.
Bookies occasionally offer to refund a percentage of your stake or a fixed amount of cash if your bet with them is a loser in certain events.
The refund is usually in the form of a free bet.
This spreadsheet does not take into account any losses that may occur when trading the free bet.
The strategy is a straightforward bet with the bookie and a lay of the same selection on your exchange.
If your bet is a loser, the bookie gives a refund, so the calculations produce lay liabilities that take into account the amount of the refunded money.
To make a win or lose profit, we reduce the size of our lay so that if we hit a winner, our liabilities are smaller than our bet winnings.
If our bet is a loser, we have a successful lay that is less than the size of our losing bet stake, but the bookie refund makes up the difference and shows a profit on the trade.
Note that to make this work, we need favourable bet odds with the bookie and lay odds on our exchange.
Commission is built into the lay side of the calculations.
The spreadsheet has an Adjust feature which allows you to bias your stakes in favour of a win outcome or a lose.
Input positive or negative Adjust values to favour your bet or your lay.
You may need to make very small adjustments such as -0.05 to balance your stakes exactly to the penny.
Note that at the time of writing I have not yet tested this spreadsheet with my cash.
The spreadsheet has protected cells to prevent overtyping of the calculations.
These are examples of recent cash or percentage refund offers :-
EuroSportBet
We will refund 15% of the stake of your losing bets on the African Cup of Nations up to a maximum refund of £35 per bet and up to a total free bet of £500 per person.
EuroSportBet
Begin a prosperous New Year by placing any type of bets on the European Football Leagues
This promotion will run from Tuesday the 05/01/10 at 12:00 hours and will expire on Monday the 11/01/10 at 23:59 hours. All bets must be placed and settled within the promotion period in order to qualify.
Place any type of bets within this period with a total minimum stake of £150 and get back 20% of your total net losses on any of the European Football Leagues. Both live and pre match bets are eligible for this offer.
Bodog
Receive a £10 bonus when you bet £20 on Birmingham City vs Man U and £20 on Liverpool vs Tottenham
This offer was snowed off.
With 2 games being involved, this spradsheet wouldn’t cover that offer, but there is potential there for some profit.
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