Cashback bonuses are offered by online sportsbooks as a means to retain the interest of their customers and keep them returning to their websites for more betting action. Cashbacks can also be described as handy promotional tools used by bookmakers for the purpose of attracting more action during major sporting competitions and championships.
These promotional incentives give punters a chance to minimize their losses either on parlays or on single-game bets as they normally consist of 5% to 25% refunds on losing wagers. Some web-based bookmakers would offer cashbacks of fixed amounts instead of refunding customers with a certain percentage of the wagers they have lost.
As with all promotional incentives run by online bookmakers, there are some conditions attached to the rebate offers that punters must adhere to if they want to avoid bonus forfeiture due to terms violation. These conditions are different across sportsbooks but in the general run of things, one needs to make a parlay bet consisting of a stipulated minimum number of selections at the minimum odds posted by the bookies. Provided that one of the selections is a loser, the player is refunded either with a specific percentage of their bet or with a set amount of money.
There are restrictions to the amount of rebate you can obtain when the cashback is calculated on the basis of a percentage. For instance, a bookmaker may offer you a 10% cashback on your losing bets of up to £100, so even when your net losses exceed this sum, you will still get only £100 if you opt in. The same pertains to the minimum amount of money you need to lose to become eligible for a rebate, which is to say you will not be refunded if you have lost less than this required amount.
All in all, these rebates are great for punters since they give them an opportunity to reduce the risks that are inherent to betting on sporting events. Make sure you check out some of the cashback incentives offered by the renowned sportsbooks listed on this page.