Moneyback offers can be considered as the punter’s paradise: You are free to bet without fearing the loss of your money. This is one of the best offers a bookie will give you, as you are requested to place a bet (in specific matches or events) and if you happen to lose, you will receive a full refund of your bet. It is considered as an insurance policy that awards bettors with refunds or free bets, should they place certain wagers such as accumulators or higher odds bets. Various bookmakers will put a different spin on these money back promotions but they all work in pretty much the same way. If you fall just short, the bookie will reimburse for the full amount of your wager. There are, of course, different refund limits and conditions.
Types of moneyback offers
This is one of the most common offers, that applies to most bookmakers. You will receive your money back if you have placed a bet on a team to win and the match ends in a goalless tie. It’s worth mentioning, that the offer applies only if you have chosen a winning team and not the result of a draw. Bookmakers will usually offer a “bore draw” cashback on matches that have slim chances of ending without one team hitting the net.
Confirmation of certain events
This moneyback offer is activated when a certain event, described before the start of a match, is confirmed. Some bookies will offer you a refund if the team you have chosen as the winner gets in an unlucky position by hitting the post or missing a penalty. There are also money back offers should your selected team concede a goal in injury time or if a specific goalscorer finds the net.
With this betting offer you are able to assert your cashback offer if your wager comes through, during a specific period of the match. Your refund is guaranteed, if for example your selected team scores first, but doesn’t win at full time. Other frequent bet insurance opportunities consist of halftime winning offers, or other specific time limits, for example 70 minutes of playing time .
There are also special moneyback offers on racing bets. Some online betting sites will offer you a cashback if the horse you have wagered on falls at the first fence or refuses to race. There are also moneyback promotions if your horse is beaten by a nose or takes the wrong course.
Online bookmakers are extremely punctual concerning the matches and types of bets at which the cashback promotions are available. Make sure to carefully check if a bookmaker you are about to sign up to offers money back events on your preferred betting markets.
Usually there is a minimum amount you have to bet in order to claim this offer, varying from one bookmaker to the other.
Some bookies will not set a maximum limit on your bet, but instead will place a maximum limit on the cashback amount. It is advised to thoroughly read the terms and conditions that apply to each offer.
There’s also a cashback offer that will earn you a future free bet. For example, if you lose a 10€ bet, instead of crediting your account with the same amount, some bookies will give you a 10€ free bet that can be placed after a short time.