One of the most common types of bonuses and promotions you will find at a betting site is the cashback or money back offer. Here we’ll explain what these are and where to find the best cashback offers at betting sites.
Gambling involves a lot of luck and random chance. Even when you know all about sports betting there is to know, employ solid strategies and do your homework prior to betting on a match, you may still end up losing with your bet because of pure chance.
A team got lucky or a player was in top form, scoring goals he ordinarily does not score. Perhaps a horse is injured in a race or two football teams play for a draw on purpose.
There are many things that influence the outcome of your bet and sometimes it means you will end up losing despite all the preparations and the best possible odds.
A cashback or money back offer is a promotional offer that gives you a part of your bet or all of it back. Of course, there are terms and conditions attached to that, but the offer is popular enough for many punters to show up frequently.
There are different ways a cashback offer can look and work. As long as you get at least a part of your stake back in cash or as a bet credit, the offer can be considered a cashback offer.
The classic cashback or money back offer betting sites give you a percentage of your lost stakes back as cash or bet credit. This offer is often valid across one week from Monday to Sunday and includes all your betting and the accumulated losses for bets settled within that time frame.
There is a set percentage of your losses you receive back (typically between 5% and 20%) and a maximum amount of cash you will receive back (usually no more than $100). There is also a minimum amount you can get back (usually $5), but losses below that will not be refunded.
The offer may include all your betting, or it may exclude some types of bets you have made. Perhaps it is only valid for single bets and not accumulators. It may also be valid for just one type of sport.
A common example is:
10% Cashback and up to $50 on all your losses for the week
A type of free bet offer is the risk-free bet. It can also be considered a cashback offer as you are getting the value of your stake back if your initial bet loses. Once again, there is a maximum value involved of what you can potentially get back.
And conditions may be attached to your initial bet as well as the cash or free bet you receive as a refund.
As an example:
Bet $10 on odds of 1.6 or higher and receive your stake back if your bet loses
A popular and surprisingly frequent bet you can encounter is the "Bore Draw, Money Back" offer. It's one of the most popular cashback offers you can find at Bet365 for instance.
Here you get your money back in case a match ends up being a draw. Such an offer can usually be used for any market where a winner is determined by one team/player outscoring the other team/player.
A similar offer to the one above is the "No Goals, Money Back" offer, where you get your stake back in case no goals have been scored throughout the entire match.
You will then be able to claim your initial stake back if you used such an offer
Even an accumulator insurance can be considered a cashback offer. This is also a very popular type of promotion, which insures one or more legs of your accumulator bet in case one or more legs fail.
As you know, accumulator (or parlay) bets require each leg to win for the whole bet to work out and for you to reap the rewards. As soon as one leg fails, all is lost, however.
With an acca insurance, you won’t magically save your accumulator bet from failing, but you will receive your initial stake back (often as a free bet) in order to try again.
Of course, each and everyone of those types of cashback offers comes with bonus conditions attached.
There conditions may apply to your initial bet, which then makes it eligible for the promotion or bonus on offer. Or the conditions apply to the cash or bet credit you receive in return.
Here are some terms you may encounter in connection with cashback offers:
The important thing is to always read the full terms and conditions to prevent surprises down the line. Violations of bonus terms are a major complaint among bettors who will forfeit funds and worse for accidentally ignoring bonus conditions.
If a betting site regularly features betting offers, you can be quite certain that cashback offers, or insurances are among them.
Some of our favourite betting sites regularly feature cashback promotions. Here are some recent examples or ongoing promotions:
The best betting sites for regular cashback offers:
Of course, promotional offers such as cashback offers regularly change. Some betting site will run cashback promotions as ongoing bonuses. Others will only make them available occasionally.
Just because we haven't listed a site here, doesn't mean you won't find a cashback offer there in the near future. Be sure to check in regularly to find out what's new!