A cash back offer is a common type of bookmaker offer.
A cash back offer means that a bookmaker will refund some of your money if you make a loss. This refund could either be as a free bet or in cash.
It is important to note that the loss is counted from your net loss i.e. the combined total from a number of bets.
An example of a cash back offer is the one below from Wetten.com.
In this offer you can get 50% cash back on net loss up to €50 if you place a minimum of three bets.
As with every offer it is important to check the terms and conditions. Some offers have a wagering requirement on the cash back bonus and some offers will refund you with a free bet.
How to profit from cash back offers
The strategy for these types of offers is quite simple.
Place the required number of bets to qualify for the offer with the minimum odds mentioned in the terms and conditions. Then hope you make a net loss in your bookmaker account (but a profit in your betting exchange account) so you will receive cash back.
Stop placing further bets once you have reached a net loss (and a cash back amount) you are happy with.
In the example below, I have received €35 cash back. However, if I continue to place bets there is a risk that they will win. One bet could change my loss to a profit in the bookmaker account, which would mean I do not qualify for any cash back.
These offers are not risk free as you can end up making a profit in your bookmaker account, which means you will have made a small loss from your qualifying bets and you will not have qualified for any cash back.
Example of Cash back offers
Place min. 3 bets with minimum odds 2,00. Get up to 50% cash back up to €50 if you make a loss.
Bet 1: €40 bet on odds 2,00. Bet loses. Current net loss is -€40.
Bet 2: €20 bet on odds 2,00. Bet wins. Current net loss is -€20.
Bet 3: €50 bet on odds 2,00. Bet loses. Current net loss is -€70.
With a net loss of -€70 I can expect to get €35 in cash back as the offer is 50% cash back on my net loss.
Check out the Forum for current Matched Betting offers.