How do Money Back Offers Work?
One of the most popular promotions offered by bookmakers promises to refund losing stakes if a certain set of circumstances apply. This is a good marketing strategy and it can give customers a generous second chance to land a winning bet but how do these deals work and what should you look out for when you come across this type of incentive?
Football is the most popular online sport amongst the betting fraternity so it’s no surprise to see many offers connected with this. Recent examples include money back from William Hill in the 2014 World Cup if there was a goalless draws while 888sport have a similar deal which currently covers any match.
With the 888sport promo, losing bets are refunded if there is a goal scored after the 88th minute. These are two football related offers but this type of deal can cover any sport. If a certain set of circumstances applies then losing bets can be refunded but is there any catch?
Check the Terms
Naturally you should check the terms and conditions of any bookmakers’ offer but with a promotion such as this, there are certain, specific things that you should always look out for.
Do I have to Bet in Certain Markets?
Using football as an example once again, you may only be eligible for the deal if you stake in certain markets. So, a popular refund promo involves specific players on the pitch so the returned stake may only be applicable if you bet in any of the goal scorer markets – first, last or anytime.
Every offer is different in this respect and some won’t specify certain markets so make sure you check all the terms.
Do I have to Bet Pre-Match?
Almost all offers will exclude betting in play but check for any exceptions to this common rule.
Do I have to Stake at a Certain Level of Odds?
Some incentives might specify that you have to bet at a certain amount – e.g. odds of 2.00 (Even Money) or higher. Once again, please check the T’s and C’s to make sure you are happy.
How much can I Expect to Receive?
Again this is very much dependent on the individual bookmaker but typically, refunds can be between £5 and £25.
What else do I Need to Know?
Almost without exception, the refund in question will come in the shape of a free bet and this will typically be placed into your account within 24 – 48 hours of your losing stake being settled. There may be an expiry limit of between 7 and 30 days too so check the terms of the offer once again.
Check also to see if there are any rollover stipulations as you may be required to play through that freebie a number of times before you can claim any winnings.
Naturally there are always going to be terms but refunds such as these are a great way to land a second chance to win big at the sportsbook. Keep checking the news at BonusCorner for all the latest bookmaker promotions.