Horse racing refunds are matched betting offers where you get your stake back as a free bet or cash on horse racing bets if a certain event happens.

A good example of this is the offer below with Virgin Bet where we can get our stake back as a free bet if our horse finishes 2nd or 3rd:

To make a profit from this offer we would use the standard calculator in normal mode to place a back and lay bet on the horse which would give us the lowest qualifying loss. We would then hope that our horse comes 2nd or 3rd so we received the free bet. With these sorts of offers, you do not make a profit on every race but over the long term, you will make a great return from offers like this. 

Common examples of horse racing refund offers:

> Refund if your horse finishes in a certain place or places. Common examples include Sky's money back as cash if your horse finishes 2nd or 3rd and Paddy Power's money back as a free bet if your horse finishes 2nd, 3rd or 4th. 

> Free bet if your horse wins the race. These are popular offers and can be seen throughout the year. 

> Refund if your horse is beaten by a length/head/neck. These offers are growing in popularity with the bookmakers. The bigger the beaten distance they offer the better the value so beaten by a length is a popular offer. 

Horse racing refunds can be found every day of the week in the reloads section but they are especially popular at weekends, when there is ITV racing and during big festivals such as Cheltenham. 

You can find further information on how to profit from horse racing refund offers here.