How to Get a Refund from Bookmakers?

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Gambling online can be risky business. If you’re not smart when you play, you can lose a significant amount of your hard-earned cash. Most players know the risks involved, but some try their luck when funds run low. They query the likelihood of a refund when they lose a bet.

Fortunately, or unfortunately (depending on your perspective), bookmakers are aware of the chances that players take to claim a refund. If you can prove that your account had fraudulent activity, such as someone else using your account, then you’re entitled to a refund.

There are instances in which the bookmaker does issue cashback in the form of promos and offers.

Betting Outcomes

Once you’ve made your predictions, and place a bet on a sports event, you’ll need to wait for the final result. There are three possible outcomes: you can win (1), lose (2), or the game ends in a draw (X).

You should already know that a win results in you gaining a profit, a loss results in not receiving your stake back, but what about a draw? Usually, a draw is the equivalent of a loss as far as gambling is concerned.

Unfortunately, if the result is a loss, then you can’t get your stake back. That’s how the industry works. If bookies returned your stake every time you lost, they’d shut down.

Fortunately, there are a couple of loopholes that you can use to have your stake returned.

How to Get a Refund or Your Money Back

refund in betting

Technically speaking, refunds are typically unheard of in the industry. However, you’ll find that sportsbooks have specials and offers that’ll give you a portion of your bet back. Keep an eye out for risk-free, draw and cashback promos.

Typical Refund Policies

It’s incredibly rare for an event to occur that qualifies for a refund. When you play on gambling sites, you’re entitled to a stake refund if the event venue changes, or if the event is cancelled. If you find that you’ve placed a bet and this has occurred, then contact your gambling site immediately.

Cashback Offers

When you’re on the betting site, view the current bonuses and offers. If you find any cashback or moneyback offers, use them. These promos allow you to have your stake returned.

Depending on where you play, these usually apply to matches that end in a draw. As with any type of promo, there’ll always be terms and conditions that apply. Each bookie is different, but the usual terms include specific odds and when the wager must be in (e.g. pre-match). These offers can pertain to specific sports and games. Always check the full list of T’s and C’s before engaging in any promo.

This type of bonus is fantastic if you’re a newbie and feel timid about wagering. You can do your research and find the keys to successful sports betting before placing a bet. The risk is minimised because if you don’t win, then you will have your stake returned.

Risk-Free Offers

Bookies often run frisk-free promotions on various sports. More often than not, you must meet specific criteria before you can claim an offer. We’ve found that risk-free offers are commonly used to attract new customers and form part of the welcome bonus.

Risk-free offers would return your initial stake if you placed an unsuccessful bet. They’re called risk-free because, win or lose, you receive money. Wins result in profits, while losses return the bet. As with cashback offers, there are always set rules and terms that apply. The usual terms include set odds, are exclusive to specific sports, and limited deposit methods.

You should also be aware that there’s often a price limit to the amount returned. Sometimes the bet must be a particular bet type to qualify. Don’t forget to view the fine print before claiming the offer. Different types of risk-less bets aren’t exactly refunds, but they do result in funds returning. Any time that a bookie returns funds to you is an opportunity that you should use to your advantage. Bookmakers lose money every time they return funds to players, so don’t miss out on the chance.

Risk-free bets are excellent for newbies, and for players that would like to try their hand at wagering on a new sport. It gives you a unique opportunity to ease into new sports betting territories. You can engage with the new market with a lower risk.

Other Offers

Bookmakers regularly update and change their offers. You can be hopeful, but it’s unlikely that they’ll have a refund promo running for long periods. When you see one, take full advantage.

In Summary

Refunds take away from any bookmaker, and they’d cease to exist if everyone were refunded on their losses. It’s highly unusual that any bookmaker would refund you in any case.

That said, there are ways to have your stake returned when you take advantage of specific offers. Promos tend to come with an extensive set of T’s and C’s, so always read them before activating.

Try cashback offers if you’re not 100% comfortable with your wagers. You need only do thorough research to make an educated guess on the winner. If the team wins, then you’ll be up a little bit, but if there’s no score, then you’ll at least receive a stake refund. You can try your hand at risk-free bets on other events where there’s an opportunity for expanding your bankroll; if not, you’ll reunite with your stake.

Before we part ways, we need to remind you that gambling is strictly for players 18 years and older. Remember to play wisely and maintain healthy gambling habits.

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    Author: Samuel Karugu
    Certified Betting Expert
    Samuel Karugu
    Samuel first started reviewing casino sites professionally in 2011. He is the perfect match for Silentbet, with his research-driven approach and years of experience comparing online casinos honing his gambling expertise.