Cashbacks, also known as money back specials, are quite common among the more generous bookmakers nowadays. Genie’s cashback specials guide is a quick overview of how these promotions work, and why you should keep any eye on offers to maximise your punting returns.
What is a cashback special?
A cashback special is a promotion run by a bookmaker, whereby payout is dependent on one or more outcomes occurring in an event. If that outcome occurs, then the bookmaker refunds losing stakes on one or more markets on the event.
For example: “If Erling Haaland scores the last goal in this game then we will refund all losing bets on the following markets; First, Last or Anytime goal scorer, Correct Score and HT/FT”
This means that if Haaland 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.
Who offers Cashback specials?
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.
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Cashback specials guide – how to find value
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 in our offers page, where we inform you of all cashback specials available from the top bookies.
Common Cashback Specials
There are a number of frequently promoted cashback specials.
Cashback specials guide – Frequent promos:
- 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).
Keep an eye on Genie’s offers page for the cashback specials where punters can find some value.