Betfair offers a wide variety of promotions, but most of them only affect users of Betfair's Sportsbook. For those who rely on the Betfair Exchange, like most profitable betters, promotions may seem far and few between. However, Betfair does offer a promotional event called Cash Race, which allows you to win cash prizes of up to £680 just by placing bets on the exchange. In this article, we'll walk you through the basics of Betfair Cash Race, including what it is, how it works, and how to take part!
What Is Betfair Cash Race?
Betfair Cash Race is a promotional event that allows you to win rewards on the Betfair Exchange. It involves collecting enough points to reach three different targets, each of which is associated with a prize. We'll explain how all this works later — but first, you're probably wondering how much you can with Cash Race.
Prizes for Cash Race vary depending on the user. Generally speaking, the prize for reaching the first target is usually £30 to £100. For the second target, the prize is normally within the range of £100 to £200. In the past, some users have received prizes as high as £680 for achieving their final target!
When Is Betfair Cash Race?
There are no set dates for Cash Race. Instead, Betfair simply announces the promotion shortly before it starts. In the past, Betfair has offered Cash Race several times a year, usually during periods of high sporting activity. To know when the next promotion is planned, keep an eye on Betfair's blog and social media channels. As for how long the event lasts, it's often just under one month. That means you need to place your bets — and gain as many points as possible — within that time period.
How Betfair Cash Race Works
The way Betfair Cash Race works is actually quite simple. When you opt in to the promotion, you're given three targets, each of which is associated with a certain number of points. Once you achieve a target, you receive a reward. For each subsequent target, the number of points needed (and the reward you stand to win) grows significantly. For example, based on our research, you can win as little as £34 for reaching the first target, and as much as £680 for reaching the third and final target. In order to maximize your chances of winning Cash Race rewards, it's essential you understand what the points — called Betfair points — are, and how they are calculated.
What Are Betfair Points?
Betfair points are the points you need to collect in order to win Cash Race rewards. They're calculated based on the commission (or implied commission) associated with the bets you place on the Betfair Exchange. Specifically, Betfair gives you 10 points for every pound of commission (or implied commission) you pay. For example, let's say your Betfair commission rate is 5%. If you win a £50 bet at odds of 2, you pay commission of £2.5 on your £50 winnings. These £2.5 in commission then correspond to 25 Betfair points, which count towards your Cash Race targets. That's not all, though. You may have noticed us talking about implied commission. This is the commission other users pay on the bets you lose. For example, if you lose a £20 bet, you can assume that the user winning that bet will have to pay 5% commission, or £1. What's important is that Betfair also gives you points for implied commission, which means you'd earn 10 points for the bet in this example, even though you ended up losing.
Betfair Cash Race Targets
Betfair chooses custom targets for each user who opts in to Cash Race. To give you an idea of what to expect, we've seen many users who have been given a first target of 14,000 points. This means you'd need to pay £1,400 in commission (and implied commission) in order to reach the target. If you're curious to know what your targets are, simply sign up for Cash Race and you'll get to see all three targets (and the prizes associated with them) right away.
Is Cash Race Worth It?
You may be wondering whether it's worth taking part in Betfair's Cash Race. The answer is a definitive yes. It costs absolutely nothing to opt in, and you get the chance of winning a small (or somewhat sizable) cash prize. The only real risk associated with Cash Race is that you'll end up betting recklessly, so as to collect more points. With that said, if you make sure that you only place the bets you would have placed anyway — as if you weren't taking part in the promotion — there's really nothing to lose.
How to Opt in to Betfair Cash Race
Opting into Cash Race is easy: just navigate to the official page at https://cashrace.betfair.com/ and enter the details of your Betfair account. The page does ask for your password, so watch out for phishing scams!
How Long Does It Take to Receive Cash Race Prizes?
Betfair claims that within 24 hours of reaching a target, they'll deposit the associated prize into your Betfair account.
Other Promotions on Betfair Exchange
Aside from Cash Race, Betfair Exchange really doesn't have too many promotions. There are the Betfair Rewards Plans, which come with various bonuses, but other than a few sign-up bonuses, that's about it. Without a doubt, there are more promotions on Betfair Sportsbook. If you want to make money on the Betfair Exchange, you're better off looking for a profitable betting strategy or system. That's why we built Hinto: an advanced betting algorithm that generates tips for football and tennis using big data. Best of all, it's built for the Betfair Exchange!
Betfair Cash Race is a promotional event offered on the Betfair Exchange that allows you to win cash prizes. It's definitely worth opting in to, but making real profits on this betting exchange is going to need some kind of strategy!