Bookmaker termsGlossary
Cashback
Also known as: Money back
A bookmaker promotion that refunds a portion of losses — typically as a free bet rather than cash — under specific conditions. Common variants: "money back as a free bet if your horse finishes 2nd to the SP favourite", "10% cashback on losses each Monday". Cashback is a marketing tool, not a real -EV-killer; the refund value is usually well below the expected loss it offsets.