The Bet365 4/1 offer is one of the most popular and profitable horse racing offers out there.
It’s an offer that’s available pretty much every day, so it’s certainly one you should be thinking about doing.
In this guide, I’ll explain what the Bet365 4/1 offer is, how it works and show you how to take advantage and make some sizeable profits!
What is the Bet365 4/1 offer?
The Bet365 4/1 offer is pretty straightforward. Simply back a winner in selected races, at odds of 4/1 (5.00) or greater and Bet365 will give you a risk-free bet to the same stake on the next eligible race, up to a maximum of £50.00.
The beauty of matched betting is that most of the time, it doesn’t matter what the outcome of an event is. Your bets cancel each other out and you collect your profits.
This Bet365 offer is a little different in that you’re only rewarded if your bet wins. It’s completely different to horse racing money back offers, where you’re hoping your horse comes up short.
There are two versions of the Bet365 4/1 offer. The main one is their ITV Racing version where the offer applies on any race televised live on ITV…
Then there’s their Feature Race version where the offer applies on a couple of selected races each non-ITV Racing day…
Although they’re listed as two separate offers, they’re actually identical in terms of how they work.
How does the offer work?
Let’s look at the key points of the offer…
4/1 minimum odds
You must place your bet at odds of 4/1 (5.00) or greater on any horse running in an eligible race.
The 4/1 minimum odds requirement applies to the odds at the time of bet placement. It doesn’t matter if the odds shorten and your horse goes off at a starting price (SP) shorter than 4/1. As long you place your bet at odds of 4/1 (5.00) or greater, you’re fine.
Qualifying for risk-free bets
If your first single bet on a race wins, your next eligible bet will be risk-free to the same stake, up to a maximum of £50.00.
Using a risk-free bet
You must place your risk-free bet with your own funds and if the bet loses, your stake will be refunded in cash, up to a maximum of £50.00.
Risk-free bets apply to the next eligible race. It’s important to mention that although the two versions of the offer are basically the same, they are completely separate in terms of eligible races. If you hit a winner on the ITV Racing version, your risk-free bet applies to the next eligible ITV race. The same applies for the Feature Race version.
If you have a winner in the last race of the day, your risk-free bet still applies to the next eligible race, whenever that may be. Say, for example, you back the winner in the last ITV race one Saturday afternoon. It may be the case that you have to wait until the following Saturday to place your risk-free bet. It all depends on ITV’s racing schedule, which is listed on the promotion page.
Keep them coming
If your risk-free bet wins at odds of 4/1 (5.00) or greater, you’ll qualify for a further risk-free bet on the next eligible race. You can keep qualifying for risk-free bets until you have a losing bet!
How to profit from the Bet365 4/1 offer
Step 1: Check the odds at Bet365
The first step is to start looking for suitable bets.
You just need to make sure that you’re looking at races that are covered by the 4/1 offer. You’ll find a list of eligible races on the respective promotion pages.
Here are the odds at Bet365 for a race that was eligible for their ITV Racing 4/1 offer…
Step 2: Check the lay odds at the exchanges
It’s entirely up to you which betting exchange you use to place your lay bet. Your decision will depend on the commission rate you pay at each exchange and the lay odds available.
Here are the lay odds at Betfair for the same ITV race…
Step 3: Make your selection
As you can see from the odds above, Defoe looks like a perfect choice. He meets the minimum odds requirement of 5.00 (4/1) and his back odds of 6.50 and lay odds of 6.60 are nice and close.
Step 4: Place your bet at Bet365
If your bet wins, you will qualify for a risk-free bet to the same stake, up to a maximum of £50.00, on the next ITV Race.
So, you would stake £50.00 on Defoe at Bet365.
Place £50.00 on Defoe @ 6.50 = Potential profit of £275.00
Step 5: Place your lay bet at the exchange
You can calculate your lay stake using my Matched Betting Calculator and you have a couple of different options depending on how you want to play it.
Your first option is to place a standard lay bet. You’ll almost always incur a small qualifying loss, but if your horse wins, you’ll win big. Your second option is to overlay which gives you a small guaranteed profit, no matter the outcome.
Standard lay method
When using the calculator for these Bet365 4/1 offers, you need to use the ‘Qualifying Bet‘ setting. Once you’ve entered your stake, odds and commission, your calculator should look something like this…
As you can see, the calculator tells you that you should lay £49.62 against Defoe.
Lay £49.62 against Defoe @ 6.60 = Potential liability of £277.87
The outcomes at the bottom of the calculator above confirm that you’ll make a small qualifying loss of £2.87, no matter what happens.
If Defoe wins, you’ll qualify for a £50.00 risk-free bet on the next eligible race. Risk-free bets must always be placed on the next specific race, so make sure you don’t miss them!
It will depend on the odds available as to how much cash you make from your risk-free bets, but you should be aiming to make around 75%. So, from a £50.00 risk-free bet, you should be aiming to make around £37.50.
Taking your qualifying loss of £2.87 into account, you’ll make a profit of £34.63 if Defoe wins. Of course, if your risk-free bet wins, you’ll qualify for another risk-free bet to the same stake and be able to make even more profit!
My preferred method is the standard lay method above as it’s more profitable in the long-term. If you would rather lock in a smaller guaranteed profit though, you have the option of overlaying.
You know that if your horse wins, you should be able to make 75% cash from your risk-free bet. You can therefore simply add 0.75 on to your back odds, to get your effective odds.
6.50 (back odds) + 0.75 (75%) = 7.25 (effective back odds)
So, instead of entering 6.50 into the calculator as your back odds, you can enter 7.25 to get your overlay stake.
As you can see, the calculator tells you that you should lay £55.34 against Defoe.
Lay £55.34 against Defoe @ 6.60 = Potential liability of £309.90
Let’s take a look at your overall profit/loss for each possible outcome…
|Defoe wins||+£275.00||-£309.90||+£37.50||£2.60 profit|
|Defoe doesn’t win||-£50.00||+£52.57||£2.57 profit|
As you can see, no matter what happens, you’ll make a minimum guaranteed profit of £2.57.
It’s entirely up to you which method you opt for, but my advice is to use the standard lay method.
Using the examples above, if you opted for the standard lay method, you would be risking the opportunity to bank £2.57 to make a potential profit of £34.63. That’s effective odds of 14.47. So, given the fact that Defoe is odds of only 6.50 to win the race, you can see the value in using the standard lay method.
- Always bear in mind that if you qualify for a risk-free bet, it must be placed on the next eligible race. It’s therefore important to keep an eye on things so that you don’t miss an opportunity to profit.
- With this offer being available on all ITV races and a couple of featured races every non-ITV day, there are around 20 eligible races each week. It’s entirely up to you how many races you place bets on, but it’s probably best to be selective. ITV races are higher profile, so bets on those are less likely to draw unwanted attention to your account.
- Don’t feel you have to stake £50.00 each time, just because that’s the maximum risk-free bet available. It’s probably best that you vary your stakes anyway. Your bankroll will be a factor too. With a minimum odds requirement of 4/1 (5.00), a £50.00 stake will mean a liability at the exchange of at least £200.00, so there’s nothing wrong with opting for a lower stake if you need to.
Other ‘Back a Winner’ offers
Bet365 aren’t the only bookmaker to offer a ‘Back a Winner’ type offer.
Another popular one is Unibet’s ITV Racing 15 to Go offer. Simply bet on a selected race in the 15 minutes before the scheduled start time, at odds of 2.00 (evens) or greater. If you back the winner, Unibet will match your stake with a free bet, up to a maximum of £20.00.
Again, just like with the Bet365 4/1 offer, the standard lay method is the most profitable. Place a straightforward back and lay and if your horse wins, you’ll be able to make a nice profit from the incoming free bet.
Overlaying works exactly the same as the Bet365 offer. You might just want to add 0.80 on to your back odds instead of 0.75 as you can usually make a little more cash from a free bet than you can a risk-free bet. Here’s a 15 to Go blog post if you want to take a closer look at the strategy.
There are plenty of other bookmakers running ‘Back a Winner’ offers from time to time. The bookmakers worth a special mention are Betfred, MansionBet and Virgin Bet.
Your Bet365 account is one of the most valuable bookmaker accounts to have. Along with the Bet365 Early Payout (2UP) offer, these 4/1 offers will keep your profits ticking over nicely.
Just be selective with your races, keep your qualifying losses to a minimum and the winners will come.
The Bet365 4/1 offer has been around for as long as I can remember and hopefully it will hang around a bit longer yet!