Fancy a $500 refund netting you potentially over $450 profit?
Using our calculator you can quickly identify if you have found a suitable bet to take advantage of Neds 'Back Up' Offer.
Neds Backup – Tap 'Back Up' and choose a backup runner. If your backup finishes 1st and your bet places 2nd, they will refund your stake up to $500
How Can I Make Money?
Step 1 – Find a horse, greyhound or harness race with 2 clear favourites.
Step 2 – Aim to find a race where the clear 2nd favourites odds at Neds closely matches the 'lay odds' at Betfair using Matcha
Step 3 – Back your horse at Neds having selected your 'back up' horse
Step 4 – Lay your horse on Betfair (just the horse you backed at Neds. You don't lay the backup horse)
Step 5 – If your horse comes second to the favourite then count your profit
What is the Expected Value of this offer?
Expected Value can be over $100 for a $500 bet if you are able to find a suitable selection
Begin your profitable journey
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The Method In More Detail
How To Take Advantage
When you have found a suitable race then enter the back and lay odds as well as the lay odds into the calculator above.
- The number of 'back ups' you receive is account dependent.
- The lower the odds of both the horse you back and the backup horse the greater Expected Value
- This offer suit a race with 2 clear favourites.
- The highest expected value can be achieved by betting on the second favourite with the favourite as the backup
- To achieve greater EV you want the back and lay odds of the horse you are backing to be as close as possible. Use Matcha to help identify these horses
- The back odds of the 'backup' horse don't matter but the lay odds of this horse do. The lower the odds are the greater EV
- The fewer horses in the race the better only because there is likely to be lower priced horses
What you will need
- An active non-promo banned Neds account
- Betfair Account
- Matcha Software
Placing many 'back up' bets using this promotion may increase your chances of a promo ban
Terms Of The Offer
Full terms of the offer can and should be checked on the Neds site here are a couple of key terms of the offer as displayed on Neds page on Friday 5th October.
Back Up – Tap 'Back Up' and choose a backup runner. If your backup finishes 1st and your bet places 2nd, we will refund your stake up to $500.
- Get a second chance with Back Up, for Fixed Odds Win-only betting.
- Stake returned if your Back Up selection finishes first with your bet placing second.
- Available on selected Australian and New Zealand horse, harness and greyhound racing where the 'Back Up' icon is visible.
- Maximum stake refund $500.
- Full Back Up terms and condition apply.
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