Betfair Cash Race Explained
The Betfair Cash Race is a promotion that operates at various times through the year, giving you the chance to earn extra money from your betting activity. Essentially, it’s Betfair’s version of supermarket loyalty promotions – the more you bet, the more points you gain and the more money you are likely to win.
The good news is that you get these points even if your bets don’t work out. For the summer of 2017 for example, the cash race meant you got points for each event you bet on and these were doubled for certain “Gold Plate” occasions including Wimbledon, the Goodwood Festival, the Galway races, The Open and Champions League Qualifiers.
You have a set date to meet your target for points and to win more cash prizes. You can keep track of your points tally online and it’s becoming a popular way for regular betters to earn money.
According to Betfair’s own statistics, 34,000 people opted into their spring 2017 cash race and they paid out half a million pounds in prizes.
Get up to £250 cashback on Sportsbook and Exchange bets as a new Betfair customer (T&Cs apply, 18+).
Who are Betfair?
They’re one of the most well-known betting companies in the UK and operate the largest online betting exchange in the world. Based in London and Dublin, the company had a turnover of some £400 million in 2014 and was founded in 2000 at the start of the dot.com boom. The company make several claims about their business including that they offer 20% better odds than traditional bookies.
How to Play Betfair Cash Race
Cash Race is a time limited betting event that runs at various times throughout the year, the most popular being spring and summer. You need to join up and log into the Betfair Exchange to take part – in other words you need to physically opt in if you want to play.
- – Once you have signed up, every time you place a bet, you’ll get loyalty points.
- – You get these points even if you don’t win your bet.
- – The more points you accumulate the more cash prizes you become eligible for.
- – On some events, for example Wimbledon, you can get double points if you place a bet.
- – You need to collect a set amount of points before you reach the end of the Cash Race.
- – The website allows you to check your points tally and how far you are from winning a prize.
The points you get are calculated on the amount you bet and the commission rate. So, for example, if you place a £10 bet with a commission rate of 5% commission paid on winnings of £20 would be £1 and the number of points get will be 10. While you might not win the bet, you will get the points added to your tally if you have signed up for the Cash Race.
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Who Is It For?
Like other loyalty card type promotions, this works if you use the service on a regular basis and that’s what it aims to encourage. For those who only bet every once in a while or only on certain events, you probably won’t accrue enough points to claim the prizes. If you are a regular better, however, and want a chance to win extra cash prizes throughout the year, then the Cash Race makes more sense. You need, of course, to balance the amount you are betting with the amount you are likely to gain from getting points on the board.
The website makes it easy for punters to keep track of their points during any Cash Race and the option to earn double points on certain events can make a big difference. While much will depend on the amount you bet and how often you bet, there are obvious advantages here for Betfair regular customers.
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