Sport Betting Cashback bonus promotions have boomed in popularity over the past few years thanks to the money advantages they bring. Players simply receive back from 5% to 30% (or more) of their losses from a specific day/week or month. Some Asian bookmakers offer players 0.1%, 0,2% of turnover cashback on all bets wagered.
Cashback is available for all players and the incentive scheme is applied to the amount lost, which can be beneficial to recreational punters, high rollers, and VIP players.
So, if you would like to understand more about the cashback bonus keep reading this article…
Cashback Sign-Up promotion
Sport Betting Cashback bonuses start from the first deposit on a bookmakers site. Most online betting sites prefer to go with free or matched bets to provide players with more excitement, balance, and better winning possibilities. However, cashback offered as a sign-up promotion is not excluded.
Cashback in real cash
The most wanted form of cashback bonus is the one that rewards players with real cash that is withdrawable, and no rollover is needed. However, this type of cashback bonus is rare and usually reserved for VIP players or high rollers.
What is a Cashback free bet?
So, what is a cashback free bet? The only difference between a cashback free bet bonus and one that gives you real cash comes from the possibility to withdraw the money or not. However, since many players are interested in placing more bets, free bet cashback deals are good.
You must also be aware that the free bet received from a money-back deal has to be wagered most of the time. The industry standard for wagering requirements for cashback is around eight-ten times the amount you receive, and you usually have to place the bets on odds at least above 1.4/1.5 to match the wagering requirements.
Cashback on Losing Acca bets
Some bookies offer an “insurance” cash back on accumulator bets. When a player places a bet on an accumulator (Acca bet) with five or more selections, bookies will refund the bet amount if the accumulator loses because of only one wrong selection.
The logic behind this is to push players to bet on Acca bets with as many legs as possible, because they have a strong advantage on players in terms of margins.
The rules are simple. Put together a five-game football accumulator that has minimum odds of 1.50. If you happen to guess all five games then you get the money. But if you lose by only one game then you will be credited a free bet in the amount of the original wager up to €50 (this is standard in the market).
If you miss by 2 or more games then you don’t get any cashback. These Acca bonus promotions must be used within a certain period of time (days or weeks). This offer does not apply to those who are using a free play to make their bet.
Cash Back on No Goals Scored
Another interesting form of cashback bonus is the “Bore Draw Insurance”, in which a player who places a bet on the correct score will be refunded if the game result is a scoreless 0-0.
This offer only applies to pre-match betting and not to live betting. This is a cashback as cash bet offer, which means you can use your money only to place new bets, and you can’t make a withdrawal.
So, if you place a €50 bet on Team A to beat Team B by a score of 3-1 and the outcome is a 0-0, then you will receive credit for one €50 free bet.
Cashback as a free bet bonus pushes a player’s confidence to risk higher odds.