Best Money Back Offers by Bookmakers in 2023

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Last Updated on: 23.02.2023

Which are the best money back offers available online? Choosing between one bookmaker and another can be slightly overwhelming for someone who is seeking to open their first betting account. Well, we’ve done the work so you won’t have to. In this article, we name the very best of these offers around and review the differences between them.

What Is a Money Back Offer?

A money back offer refunds a partial or full amount of a losing bet, with the value of the offer depending on the bookmaker in question. There are also a few other conditions related to the offer which we will explain further below.

If you are interested in other types of betting promotions, check the following list with the best promotions to bet on:

How Does a Money Back Offer Work?

This offer is normally granted as a welcome bonus for new customers, and includes a couple of steps before it can be activated. These vary between different betting sites, so we'll outline a few generic instructions below which should apply to most bookmakers.

  • 1
    Before signing up at your chosen betting site, we suggest reading through the promo details and look out for any additional steps you need to complete, such as entering a promo code.
  • 2
    Next up, you'll need to go through the registration process. This normally involves inputting your name, physical address, email address and choosing your personalised username and password.
  • 3
    The next part relates back to Step 1. If the offer requires entering a promo code, you'll need to do so now. As not all money back offers require a promo code, we've gone ahead and listed those which do and the respective codes further down in this article.
  • 4
    Once your betting account has been set up and verified, you will be able to deposit some funds. Again, it is important to read through the promo details, since many promos are only made available for customers depositing by using a particular payment method.
  • 5
    You will now need to place a qualifying bet in order to trigger the offer.
  • 6
    If your bet is successful, you'll receive your winnings accordingly and may continue betting. If your bet loses, you will be refunded the amount of the bet (provided it does not go over the maximum refund amount), normally in cash or free bets.
  • 7
    You may then use the bet credits as you wish, provided you abide by the offer's conditions.

What to Look Out for in a Money Back Offer

  • Maximum Refund

One of the most important details in money back offers is the maximum refund available. Knowing this figure will help you determine what stake to place on the qualifying bet. Naturally, the larger the maximum refund is, the higher the potential winnings from the qualifying bet.

There are two main strategies with money back offers:

  • Placing the full refundable stake on lower odds for a higher percentage with a high chance of winning to ensure a win with the first bet
  • Placing the full refundable stake on a bet with higher odds, which puts you in a position to land greater winnings but with the peace of mind that, if the bet fails, you'll get your money back

Naturally, we always suggest making the most out of the offer by staking the maximum refundable amount.

  • Odds Requirements

As previously mentioned, each offer normally comes with a set of requirements for the qualifying bet to meet. One of these requirements is normally linked to the odds of the bet. Usually, the bet must have even odds (2.00) which would mean that the profit amount will be equal to the amount staked.

Given the offer, many may choose to go for a bet with odds which are even greater than the requirement so as to increase the profit ratio. If the bet loses, you've lost nothing; but if it wins, you'd have gained a better profit than you would have had you placed a ‘safer' bet.

  • Time Window

Timing is important when it comes to making the best of betting offers. For example, many bookmakers will set expiry dates or time limits which you must stick to – otherwise, they will become invalid.

The qualifying bet also needs to be settled within the given time window so as not to risk losing the offer.

  • Deposit Methods

If you are only comfortable using one particular payment method to deposit, then be sure to look into the offers terms and conditions to ensure that said method qualifies for the offer. Betting sites frequently choose to encourage players to deposit using one method over another for various reasons.

One of these reasons might be that you'll incur fewer charges when using certain payment methods compared to the others. In this case, punters would be restricted to depositing their first payment using that method, hoping to continue using the latter since it would be the first one they set up.

Best Money Back Betting Offers for 2023

Paddy Power logo
Paddy Power
  • Max money back £20 in cash
  • Available for deposits using cards only
  • First bet must be placed on football markets

New Customer Offer. Place your FIRST bet on any Sportsbook market and if it loses we will refund your stake in CASH. Max refund for this offer is £10. Only deposits made using cards will qualify for this promotion. T&Cs apply. Full T&Cs apply. #ad

SBK logo
  • Bet £10, Get £10 in Free Bets
  • Eligible only on deposits with debit card or Trustly
  • No conditions for first bet

New UK, IE & Malta customers only. Min £10/€10 first deposit using Debit Card. Place a bet of £10 at min odds of 1.5. Free bets expire in 90 days. Full T&Cs apply. 18+. #ad

  • Max money back £30 in free bets
  • Available on deposits with debit card only
  • First bet must be a football acca with odds of 2/1 or greater

New UK customers only. Min Deposit: £5. Maximum Free Bet: £30. First bet on a Football or Horse Racing multiple with 3+ selections. Overall odds: 3.00 (2/1) or higher. Free Bets available upon settlement of the qualifying bet. Debit card deposits only. This is offer is valid for 7 days from your new account being registered. 18+ Full terms apply.

  • Max money back £40 in bonus money
  • Paysafe, Skrill and NETELLER deposits not eligible
  • First bet must be a sports bet with odds of 2/5 or greater

18+ New customers only. Min deposit £10. Money back as bonus if first bet loses. Wagering requirements: sportsbook 3x at min. odds of 1.40 (2/5), casino 50x. Unless forfeited the sportsbook bonus must be wagered before using the casino bonus. Bonus expires 7 days after opt-in. No deposit required for NI customers. Call 08081699314 to claim. Full T&Cs apply. #ad

bwin logo
  • Max money back £20 in free bets
  • Skrill, Entropay, Paypal and NETELLER deposits will not qualify
  • First bet must be an acca with odds of 1/5 for each selection

18+ | New UK players only | Min deposit req. £10 | Certain deposit methods excluded | Place 1 sport bet (3+ selections) | Excl Horse Racing | Min stake £10 | Max stake £20 | Min Odds 2/1 (3.0) | Max FreeBet £20 for football only | FreeBet valid for 7 days | FreeBet stake not returned | Full T&Cs apply. #ad

  • Max money back £20 in cash
  • Requires a deposit of £10 via debit card or Instant Banking
  • No conditions for first bet

1. Once the bonus is credited to your account, losses will be refunded up to the bonus amount. 2. You must deposit at least the qualifying deposit of £20 (or currency equivalent) in a single amount with your first deposit to be eligible for the rebate. 3. To withdraw rebated funds, you must bet at least the qualifying deposit on any combination of markets within the promotional period; otherwise, rebated funds will be forfeited. 4. Unused bonuses expire after seven days of being credited to a user account and will be removed after this period. 5. Users making their first deposit by Skrill, NETELLER, PayPal or a virtual/prepaid card will not qualify for this promotion. 6. The sign-up offer is strictly limited to one per individual, family, household address, email address, same payment account number, and shared computer. 7. This promotion cannot be used in conjunction with any other sign-up promotion. 8. Smarkets Full T&Cs apply. #ad

Betfair Exchange
Betfair Exchange
  • Max money back £20 in cash
  • Deposit must be made using a debit card or Apple Pay
  • First bet must be placed within 7 days of account opening

New customers only, max £20 cash refund. Bet must be placed in first 7 days of account opening. Payment restrictions apply. Full T&Cs apply. #ad

  • Cheltenham Money Back Offer
  • Money Back as a free bet if you come 2nd, 3rd or 4th
  • Max free bet £10

New UK customers only. Min Deposit: £5. Maximum Free Bet: £30. First bet on a Football or Horse Racing multiple with 3+ selections. Overall odds: 3.00 (2/1) or higher. Free Bets available upon settlement of the qualifying bet. Debit card deposits only. This is offer is valid for 7 days from your new account being registered. 18+ Full terms apply.

Top 5 Money Back Offers Reviewed

Paddy Power Money Back Offer

Paddy Power welcome offer

Paddy Power's offer currently sits in our #1 position, with a £20 cashback offer if your bet loses. There are no odds requirements to watch out for too, so this means you may place a bet on whichever odds you wish, even if they're as low as 1/10.

However, this offer is only available for new players who are UK or Ireland residents on minimum deposits of £10 made using a debit card. In addition, the qualifying bet must be placed on football for it to count.

One last but crucial point is that new players must enter a promo code – YSKWDX – to opt into the offer.

SBK Money Back Offer

SBK Welcome Offer Screenshot
(Source: SBK)

SBK's offer grants £10 in free bets when you deposit and bet a minimum of £10 at minimum odds of 1.5, via debit card, into your account at one go.

The free bets have a window of 90 days to be used before they expire.

Betway Money Back Offer

Betway's offer is worth more than the previous two at first glance, going up to a maximum of £30. Instead of cash, however, the refund is awarded in free bets. The downside to this is that the value of the free bet will not form part of any winnings, meaning the you might bet £30 on 1/2 odds and only get back £15 rather than £45 (which would have been the case if the stake was played with cash not free bets).

To qualify for this offer, new UK customers are required to deposit a minimum of £5 (the lowest requirement of all offers reviewed here) via debit card. You then need to place a football acca bet with 3 selections or more with total odds of 2/1 or greater within the first 7 days from registration. This offer does not require a promo code.

Unibet Money Back Offer

Unibet Welcome Offer

Unibet's offer grants up to £40 and an extra £10 casino bonus! However, as great is it sounds, there is a bit of a catch. The money you get back will need to wagered at least 3 times before being withdrawn. If you choose to use the refunded money on virtual sports, you'll need to wager it four times; if you use it in on casino, live casino, slots or bingo and games, the bonus will need to be wagered 50 times.

The requirements for the qualifying bet are that the odds must be 2/5 (1.4) or greater, which is not bad at all. A £40 bet at 2/5 odds could mean you make a minimum of £16 from this offer. If you dare to go with higher odds, the rewards will naturally be bigger in the case that the bet is successful.

bwin Money Back Offer

The bwin money back offer rewards its new UK customers with a £20 Backup Bet if their first sports acca with a minimum of three selections, each at odds of 1/2 (1.5) loses. Bets on horse racing are excluded from this offer. The refund will be given in free bet format and must be used within seven days of it being issued.

The free bet, once awarded, must be used as a single bet on football markets and not on any other sport. As usually happens with free bets, cash outs will not be available.

Money Back Offer FAQs

A money back offer is one in which the bookmaker refunds your stake if the bet in question loses.
It really depends on the bookmaker offering it. Some require a promo code to be entered during the sign-up process; others will automatically track the first qualifying bet and refund the player as necessary if the bet loses.
This also depends on the betting site. The best bookmakers usually refund the money in whichever format the offer states within 30 minutes of the qualifying bet being settled. Others might require different time frames, and hence take a bit longer to issue the refund in cash or free bets.
The betting site in question may chose to limit the choice of sports eligible for the money back offer. It is common not to accept bets placed on horse races and greyhound races; however, it all boils down to the bookmaker in question. Bets on football, tennis and basketball are widely accepted.
Each payment method comes with its own terms and conditions – because of this, bookmakers often place restrictions on which payment methods are accepted for this offer.

ThePuntersPage Final Say

The money back offer is a great way to start off on the right foot after setting up a new betting account. Once you've placed your bet, you're afforded the comfort of knowing your stake will be returned safely in the case of an initial loss. Likewise, it lowers the risk when placing large stakes if you're hoping for some beginners' luck to come your way.

As always, we strongly recommend that you read the offer's terms and conditions well to avoid any unwanted surprises later on.