Bet365 are offering 50% cashback on Each way bets for the grand national up to £125. To take full advantage of this offer you will need £250 in your Bet365 account and up to £1,500+ in your exchange account. This will earn you around £50 profit guaranteed with the chance of winning £400+ if your horse comes 5th.

Strategy

1Win Matched Bet

Place a £125 E/W bet on the favourite (Many Clouds). At the time of writing he is at odds of 10.0 at bet365. This will cost you £250. In the calculator below, enter £125 and the odds of Many Clouds and lay this amount on  the win market on betfair.

2Place Matched Bet

Go to the Betfair place market (the normal place market, not 5 or 6 places). Find many clouds and the odds. Enter £125 as the back in the calculator below.

For the back odds, you need to perform the following calculation:

(Back odds from step 1) - 1 / 4 + 1

(10 - 1) / 4 + 1 = 3.25

Enter the Lay odds. Lay this amount.

3Outcome

When the result comes in. If Many Clouds wins, comes 2nd, 3rd or 4th, you will make about £50 profit. If Many clouds comes 5th you will make around £400 profit. This is because the place market you placed your lay on is for 4 places and betfair payout on 5 places. Therefore you win your E/W bet and you win the liability from your place and your lay from the win bet.