Cheltenham Moneyback Specials

The Cheltenham Festival is, unsurprisingly, the best time of year for bookmakers when it comes to signing up new accounts. In a generic online betting environment it is sometimes necessary to offer that little bit more to the potential client. Free bets are the common way of getting a new customer in the door but the moneyback special, also known as a cashback special, can also work as a USP and has the added bonus of rewarding loyalty in existing customers. The 2010 standout money back special offer is once again supplied by Irish Bookmaker, Paddy Power who are offering to refund all losing bets if Dunguib (4/5 fav) wins the Supreme Novices’ Hurdle.

‘Get Yer Money Back’

The moneyback special was originally called the ‘get yer money back special’ when it first hit the online betting shelves through Irish bookmaker Paddy Power. Power’s have built up their brand on this unique selling point and continue to offer potential money back on losing bets on a regular basis. In the 2009 Cheltenham Festival they had the standout offer in the bookmaking world, offering money-back if the 9/4 favourite, Cousin Vinny, won the Supreme Novices Hurdle. Luckily for Paddy Power the horse came in 5th on the festivals opening race. To put this in perspective; in real terms we could say that the horse had over a 25% chance of winning this race. Given that bookmakers do not expect to make a 25% margin on their races, Paddy Power ran this book at an expected loss. You, as a punter, could conceiveably back every other horse in the race and expect to make a profit. Genie would not recommend such a strategy of course because the bookmaker would, quite rightly, restrict you from placing future bets for abusing the money-back special. The point of the example is merely to explain how generous the offers can sometimes be.

On Cheltenham Festival week, 2010, Paddy Power will no doubt, once again, have the best moneyback specials around and Genie will keep you abreast of the situation to see if we can soften the blow of getting beaten by a neck by claiming your cash back. The Dunguib special this year is head and shoulders the best offer in town so if yau are going to back a long shot in any race this year, make it the Supreme Novices’ Hurdle with Paddy Power. Don’t forget to check out the latest free bet offers from our online betting partners for the extra deal sweetener when setting up a new account.

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