Cashbacks, also known as money back specials, are quite common among the more generous bookmakers nowadays. A cashback special is dependant on one or more outcomes accruing in an event. If that outcome occurs then the bookmaker refunds losing stakes on one or more markets on the event.
For example: “If Fernando Torres scores the last goal in this game then we will refund all losing bets on the following markets; First, Last or Anytime goalscorer, Correct Score and HT/FT”
This means that if Torres does indeed score the last goal of the game then all losing bets placed on the named markets are recredited back into the punter’s account balance. Not all cashbacks are refunded in cash. Sometimes they are refunded as free bet credit.
Paddypower half time accumulator moneyback special.
The terms of Paddypower’s current footbal special are:
- Until the end of March Paddypower will be offering a refund on all fourfold (and upward) accumulator bets, if the bet is winning at half time but not at full time.
- This applies to online bets only.
- In running bets are not included. The moneyback special is only applicable to pre-match bets.
Cashback Specials are only offered by fixed-odds bookmakers, not by Betting Exchanges.
For the most part the bookmaker only offers to refund on the higher margin markets to encourage punters to bet on these markets.
It still represents very good value for the customer who wants to bet on this market.
Some bookmakers become almost overly generous with their cashback specials and offer to refund on the win-draw-win market meaning that they run the event at an expected loss in order to encourage betting on the event.
GENIE SAYS: Keep and eye on our Cashback Specials section where we inform you of all cashback specials available from the top bookies and Genie recommends his special of the day.
Common Cashback Specials include:
- If player X scores the last goal we will refund losing bets on said markets.
- If player Y wins the tournament we’ll refund all losing bets on said market(s) (placed before tournament commenced).
- If team A win the tournament we’ll refund all losing bets on said market(s).