Cashback specials, also known as moneyback specials, have become synonomous with major betting events and they don’t come any bigger than the Cheltenham Festival. Bookmakers will be falling over themselves to sign up some new online betting customers for the flagship event in the UK Racing calendar. Expect to see generous sign-up offers in the form of free bets and the odd loyalty reward, like a cashback special. Irish bookies, Paddy Power lead the way again in 2010 following their announcement that they will give money back on all losing single bets (and the win part of each-way singles) if the 4/5 favourite Dunguib wins the Supreme Novices’ Hurdle at Cheltenham. Wow!
Cash Back on Losing Bets at Cheltenham!
That’s right folks, the cashback special is the brainchild of Paddy Power plc and has been one of the more punter-friendly additions to the online betting world in recent years. Last year Paddy Power offered money back if the 9/4 favourite, Cousin Vinny, won the Festival’s opening race. Their traders (and shareholders, no doubt) held their breath as he led coming to the final few fences before running out of steam and coming in a lowly 5th. More of the same shennanigans is expected for this year’s festival. An encouraging trend in the past year has seen William Hill start to offer the odd cashback special as well in an attempt to fend off the bold plays being made by Paddy Power to gain market share in the UK online betting ring.
It all bodes well for the punter as a cash-back special means lower expected profit for the bookies which means a few more quid for your pocket over the course. Genie strongly recommends giving more consideration to betting on Cheltenham races where a cashback special is on offer because it genuinely does represent great value for the customer – and there’s nothing like getting your money back to soften the blow.
Through updating this and other articles, Genie will keep all of you abreast of the performance of Dunguib and the latest cashback specials on offer from Paddy Power and others at this year’s Cheltenham Festival. Also, for those of you who are new to online betting, check out the free bets on offer for new account sign-ups (table below).
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