Betting Cashback Offers
The best betting cashback offers and moneyback bets from the UK bookmakers in 2022.
What is a Money Back offer?
A money back offer is the title given by the bookies to any bet where a players money is returned if their bet loses. It has also been known to be described as a Money Back Bet, a Risk Free Bet and also as a CashBack bet. They all mean essentially the same thing, which is either:
- You bet, you win, you keep it all
- You bet, you lose, you get your stake amount refunded
Sometimes a betting site may describe an offer as “and get your money back” and in fact not refund your money but instead give you a Free Bet credit. You are therefore gambling despite how they label it, so watch out for that.
How do Cash Back and Money Back work?
A Cash Back bet and a Money Back bet, (when describing a refund bonus from a bookmaker), are both exactly the same thing. Having said that, each online bookmaker may have different terms and conditions in relation to the offer and every bonus offer may work in a different way.
As a rule the bonus will work by the customer firstly depositing funds and placing a bet. It is possible that this bet must be on a certain market or at certain odds.
Once the bet has been placed there is a wait to see if it wins or loses. If it wins then that is that and the bonus offer never kicks in, you just keep the winnings. If on the other hand the bet loses then the offer comes into play and your stake amount is refunded. All bookmakers will have differing terms here now but for some it is just a straight cash credit which can be withdrawn if you want to. Others will refund your stake amount as a Free Bet credit, and that in turn may have specific restrictions on what it can be placed on and what you must do to eventually withdraw. It is always important to read the small print carefully as bookmakers headline titles do not always accurately describe what will happen in reality. Money back betting offers should mean getting your money back, but that is not always the case.
Different types of Money Back Offers
There are only two “types” of Moneyback offers, these being either a cash refund or a Free Bet refund. There are however many different ways in which a Money Back offer can be triggered. This list is not definitive but some of the more common ways a money back offer can be triggered are:
- For the sport of Horse Racing: Faller at 1st Fence, Run for your Money, First Past the Post, 2nd to the SP Favourite, 2nd/3rd overall
- In a Football match: 0-0 Bore Draw, FGS scores 2nd, Injury time goal
- For Cricket Bets: If your Highest Scoring Batsman scores 50+ but is still not highest.
- When placing any Acca Bet: 4+ bet let down by 1 leg
Advantages of Cash Back Bonuses
The advantage of a cash back bonus is that, if it is indeed CASH rather than a Free Bet, then there is nothing else to do and it is a very simple bonus. Many bonuses can have terms and conditions requiring multiple bets all with differing terms and conditions to be met however a true cash back bonus is the most simple bonus possible. You bet, you lose, you get it back. Easy.
Disadvantages of Cash Back Bonuses
The disadvantage of a Cash Back bonus centres around the fact that one of the requirements in order to get it, is you have to lose! In fairness it means that you do not actually lose but you certainly do not win either. A cash back bonus does not help you win money, it just stops you from losing it.
Terms & Conditions on Money Back and Cashback Betting Offers
Some Terms and Conditions are fairly standard across the industry but for each specific offer every bookmaker will have slightly different terms and conditions. The main terms which are common to all (or virtually all) bookmakers are those that state each offer is only applicable once per person, per household, per IP address and also payment method. Basically, you get this once do not try to open another account to do it again! That goes without saying but then there is the specifics of each and every offer and these need to be looked at carefully.
Potential T&C’s which need to be considered when qualifying for the Cash Back are:
- Payment methods
Not all payment methods can be used and still qualify for promotional bonuses, many bookmakers exclude both Neteller and Skrill but this list can change. Always check the T&C’s for this.
Some Money Back offers require your qualifying bet to be above a certain odds level, often Evens (Decimal 2) but this can vary. Make sure you meet this criteria.
- Bet Types
It is possible that your first bet must be on a certain sport, or some sports may be excluded, so look for this in the T&C’s. Similarly check if your initial bet can be a single selection or must it be an Accumulator bet? This is a possibility so double check this.
- Time Frame
Qualifying bets normally have to be placed within a set time frame, and each bookmakers terms and conditions will be different in relation to this. Often it will be within so many days of registering or depositing but sometimes it can also be fixed periods in time, for example the offer could expire at the end of the year.