The Betfair 3/1 Horse Racing Offer is one of the more popular matched betting offers which can be completed multiple times a week or day and return a high overall profit over time. This is not a guaranteed profit offer but it does have a lot of value.
what is the BETFAIR ITV 3/1 offer?
Betfair Sportsbook will credit you with a free bet up to the value of £25 if you back a horse in selected races and it wins at a starting price of 3/1 (4.0) or greater.
The Betfair 3/1 Horse Racing Offer is available on all races shown live on ITV and on selected feature races which are displayed daily on the Betfair Sportsbook website.
BETFAIR ITV 3/1 OFFER key terms
how to make a profit from the BETFAIR ITV 3/1 OFFER
Profiting from the Betfair 3/1 racing offer is pretty simple and involves standard backing and laying matched betting strategy. As mentioned earlier, you won't make a profit with this offer every time but you should profit from it over time. The key to profiting from this offer and others like it is to keep qualifying losses to a minimum. Therefore, it is essential you find a close match on a horse for your qualifying bet.
Step 1: Finding a Close Match
To find a close match, simply use on odds matcher and filter the results so that it only displays matches for the eligible races for the day for this offer.
As you are placing your back bet with Betfair Sportsbook, do not lay your bet on Betfair Exchange. Use another betting exchange such as Smarkets, Matchbook or Betdaq.
On the day of writing this guide, Betfairs 3/1 offer is available on races at Punchestown. As you can see from the odds matcher below, there is a close match on 'Identity Thief' in the 17:30 race.
Back odds of 7.0 and lay odds of 7.0 are perfect as they're a close match and above the minimum odds requirements of 4.0.
Step 2: Calculating your lay stakes
Now that we have found a close match above the minimum odds, we need to calculate our lay stakes. This is a straight forward back and lay bet and so choose 'normal' or 'stake returned' when using a matched betting calculator.
The calculator above shows us that if we back Identity Thief at 7.0 on Betfair Sportsbook and lay it at 7.0 on Smarkets, we will incur a £0.43 loss if it loses and a £0.42 loss if it wins. However, if it wins, we'll be credited with a £25 free bet.
using the free bet to make a profit
As you'll make a small loss on your qualifying bet whether your horse wins or loses, it is by using your free bet where you will generate an overall profit.
The free bet can be used on any market in Betfair Sportsbook and so it's simply a case of finding a close match. Matches with odds of 5.0 or greater will generate the best profit from your free bet.
How much profit can you make from the Betfair 3/1 offer?
Using our example above, we'll only be in profit if the horse wins but 43p isn't a lot to lose if it doesn't and over time you should be in profit from this offer.
If our horse wins, we will have lost 42p but gained a £25 free bet. Assuming we can extract 80% in cash from the free bet, we would be left with a total profit of £19.58
Assuming we always picked a horse with odds of 7.0 as in the example above, our horse should win one in seven times. Therefore, we would expect to lose 43p six times and profit £19.58 once, giving us an average profit of £19.58 - (£0.43 x 6) = £17.00
As you only profit when your selected horse wins, you'll win more often by picking a horse with lower odds. Just remember to make sure the odds are 4.0 or above. It's best to choose a horse with odds slightly above 4.0 as the minimum odds are based on the starting price and so if they odds of your horse shorten to below 4.0 after you have placed your bet, you will not qualify for the free bet.
The ITV Horse Racing 3/1 offer from Betfair is a profitable matched betting offer which can completed multiple times on most days. Providing you can get close matches on horses, you will be risking a relatively low amount for the chance to make a good sized profit.
T&C's: 18+ only. applies to specified races. cashed out bets will not be eligible. first cash bet on qualified race only. free bet stake not returned. free bet valid for 48 hours. country restrictions apply. T&C's apply. begambleaware.org