A wrong prediction is not a reason to get disappointed if you are using sports betting cashback. This is a special type of bonus, the main idea of which is to return the lost funds to the bettor’s account.
The principle of crediting money depends on the conditions of the loyalty program, within which the cashback is distributed. Today we are going to show you how users from India can reduce their funds when losing a bet.
What is cashback?
Cashback in sports betting is a refund of money lost in a bet within a certain time. Usually, the bettor does get a full refund but a part of it: 3%, 30%, or more. The bonus amount is calculated taking into account the conditions of the loyalty program.
Most often, cashback betting websites use one of two schemes:
Cashback from the entire lost amount. As a rule, only sports bets of a certain type are considered. In some cases, a bettor can get a bonus only for unsuccessful express bets with 3 or more outcomes, or only for single bets with odds of ≥1.5. Depending on the length of the qualifying period: week, month, quarter along with the gambler’s activity, it is possible to return about 600 to 1,200 Indian rupees and more.
Cashback from the total amount of deposits. When calculating the cashback amount, the bookmaker makes sure that the bonus does not exceed the deposit amount. Let’s say that cashback in the amount of 15% of all concluded transactions is issued once a month. If during the billing period the bettor has deposited his balance by 5,000 INR and spent 100,000 INR on bets, the cashback will still be no more than 5,000 INR.
You can’t tell for sure which of these cashback crediting schemes are more profitable. It depends on the intensity of the betting and the conditions for wagering the cashback.
How to obtain a cashback?
Bookmakers offer different ways to activate a bonus:
Register in the loyalty program,
Request cashback in your personal account,
Enter a promo code when making a deposit/issuing a coupon;
Automatic crediting at the end of the billing period (rarely used).
How can I use cashback?
As part of the loyalty programs of some bookmakers, there are certain bonus wagering rules applied. Sometimes, cashback goes not to the main account, but to the bonus account. In order to see the cashback, the bettor must fulfill certain conditions.
Let’s say a bookmaker offers to wager a bonus with a wager ×3 within 7 days. If the bettor’s cashback is 3,000 INR, he will be able to use it when he spends 9,000 INR (3,000×3) on bets.
Besides that, Indian users should pay attention to additional conditions for wagering cashback:
Bet type (express, single, system),
The minimum required ratio,
Types of sports events.
For instance, if only express bets with odds ≥1.6 are considered, single bets or express bets with lower odds will not be taken into account when wagering the bonus.
If the cashback comes in the form of a free bet, it can usually be used only once and only for a certain type of bet. For example, a free bet can be used to make deals for Europa League matches with odds of ≥1.4.
The cashback bonus has many advantages:
Availability. It is intended for both new and regular bettors. As a rule, participation in the loyalty program is available from a PC and a mobile device.
Fast receipt. Activation with a promo code or request for a cashback in your account takes just a couple of minutes. Money is credited within 12-48 hours.
Additional funds. The bonus partially compensates for the losses on unsuccessful bets and gives a chance to wager it.
With that being said, cashback also has its drawbacks. Sometimes it requires multiple wagering in a short time. Also, it is intended for the wagering of a certain type or on certain types of sports events.
Cashback bonus types
The cashback bonus is not always credited to the account in cash. Depending on the conditions of the promo, the following types of cashback are distinguished:
If you made a bet on the victory or loss of the football team, but the match ended in a draw, the bookmaker refunds the set amount. Bettors who bet on a draw cannot expect to get the bonus.
You can insure the entire coupon or only part of it. You must pay for insurance, but it minimizes your risks. For example, if during a match you bet on the victory of the team that scores first, but in the end it loses the match, the bookmaker will return the money in full or only a part (depending on the type of insurance).
For bets on a specific sport
Many bookmakers hold time-limited promos, under the terms of which they give a cashback from 5% to 100% of the bet placed on horse racing, cricket, basketball, or other sports. The best deals are offered for newbies.
Most often, free bets are issued for registration, account depositing, and bets on specific sports/events.
For 1 wrong prediction
If a bettor places an express bet on certain conditions with the required number of outcomes and odds, the bookmaker will provide a cashback if only 1 prediction from the coupon does not come true.
For force majeure situations
Some bookmakers are ready to provide a cashback if the team/athlete on whom the bet was made didn’t show up, has been injured or disqualified.
If the cashback program runs on an ongoing basis, the cashback does not exceed 3-15%. However, if it is a time-limited promo and gamblers have fulfilled all the necessary conditions, they can expect to get a full cashback.
Tips for choosing cashback
To make a choice in favor of a cashback program that is right for you, you need to:
Check out the best deals in 2024. There are only reliable bookmakers on our website who run loyalty programs with bet cashback available.
Assess your strength. If you do not wager often, do not activate bonuses that require wagering. The ideal option would be a free bet for registration, account depositing, or predicting the outcome of a certain event.
Read the terms of the promo. Find out during what period you need to wager the cashback, what types of bets and odds are taken into account when fulfilling the conditions of the promo.
Note! Some bookmakers cannot withdraw money if there are no wagered bonuses, including cashback.
How do I participate in the loyalty program with cashback?
It depends on the specific bookmaker. In some cases, bettors automatically become participants in the program when they make a deposit or place their first bet, and in others, they must fulfill additional conditions such as enter a promo code, activate the option in their personal account.
How do I withdraw a cashback?
The cashback money is available for direct cash out. Go to the cash desk menu and in the “Cashout”/“Money withdrawal” section, select any of the convenient payment methods, then specify the card or wallet details.
What is the biggest cashback I can get?
The amount depends on the terms of the promotion. Most often, bookmakers return no more than 10-15% of the lost bets.
Can I participate in the loyalty program using my mobile device?
Yes. Almost all bookmakers offer the game through the HTML-5 version of the website and the app. In the first case, you need to sign in to the bookmaker website by opening it in the smartphone browser and downloading the .apk file on Android or iOS.