| There is a new and exciting way of earning money by | | | | at the end of the month, you need to remember to put |
| betting on horse racing. This is easier than arbitrage | | | | in the monthly redemption code and claim your cash |
| and potentially a lot more profitable. | | | | back. |
| With arbitrage, you try to find races where a | | | | There are one or two pitfalls to watch out for. If you |
| bookmaker has odds that are a lot higher than another, | | | | do not use betfair much you have to pay them a 5% |
| and exploit the difference. This is very time consuming | | | | tax on all your profits, which will reduce your |
| and not as easy or as successful as it is made out to | | | | profitablility. You should also only bet when the sports |
| be. | | | | book has good odds relative to betfair. You will never |
| This new method exploits the new trend in online | | | | (or hardly ever) get a situation where the sportsbook |
| sports books to offer cash back to losing punters. | | | | odds are higher than betfairs lay price, but you must |
| Basically, you bet a horse with the sports book, and lay | | | | try to minimise the percentage difference between |
| the same horse at similar or slightly worse odds at | | | | betfair and the sports book. As a rule of thumb, |
| betfair. Your hope is that the betfair lay will win and the | | | | don’t gamble unless the sports book odds are |
| sports book back will lose. At this point you will have | | | | as good as all of the other sports books. Finally, ensure |
| lost your credit at the sports book and have nearly all | | | | you have enough money in betfair to cover your |
| your money at betfair. However, at the end of the | | | | liabilities. Don’t back 20.0 selections because |
| month the cash back sports book gives you a | | | | they could see you paying back 20x your stake to |
| percentage back of all of your losses. The best offer | | | | betfair should they win. You want the money flowing |
| at the moment is 25% back, however this does have | | | | from the sports book to betfair, not the other way |
| a stipulation of only 8% of turnover. You will have a | | | | round, so low priced 1st or 2nd favourites is best. |
| higher turnover than your total losses as inevitably | | | | To see the latest cash back sports books visit our site |
| some of your backed bets will win, but keep gambling | | | | |
| it and eventually all your money will be in betfair and all | | | | Good luck. |
| your losses will be at the cash back sports book. Then, | | | | |