cash back on losses program - whats the catch?

[BooneMnteer]

I have used a local guy for years and he has closed up shop a few months ago. I have my bankroll in place now and I'm looking for an offshore sportsbook for the first time.

While researching I found a website that will pay me 10% on my net losses every month back into my account. It doesn't cost me anything and I am not restricted on any bonuses from the sportsbooks.

There are five sportsbooks that I can sign up with and get cash back on any net losses and they all rate very highly at SBR.

What am I missing here? Is there a catch? I figure you guys that have been playing offshore for years might be able to help me on this. It seems to me like it would be stupid to not do this.

I should mention the website I guess haha. sportsgamblingguide.com. Anyone familiar with the program?

Thanks

[Ruifgalmeida]

forget about the cash back put your money on a A+ book and enjoy the welcomebonus normaly 20% or so, there you know you get pay

[acarmelo1]

Yeah you get cash back but you probably have to wait 3 months to get paid

[ucbearcats1027]

the greek.com is my opnly site m

[BooneMnteer]

the five sportsbooks are bookmaker, justbet, diamond, bet guardian and bet online. You get full bonus for signing up with the sportsbook, the website puts 10% cash back directly into your account on a set day each month. It's free to join, so why are they giving cash away?

[Hareeba!]

the five sportsbooks are bookmaker, justbet, diamond, bet guardian and bet online. You get full bonus for signing up with the sportsbook, the website puts 10% cash back directly into your account on a set day each month. It's free to join, so why are they giving cash away?

because they want to attract losing punters
if you expect to win there's no benefit in that
and on top of that they don't offer fully competitive odds
bet at Matchbook and the better odds will more than offset any cash back on losses .. in fact there's actually a danger that you may win because of the better odds

[tommygun]

Betfair #1

[chilidog]

They make money because they are an affiliate of the various casinos. The sportsbook pays a percentage of your losses to them. They in turn give you a percentage back of the money that you made them.

[DevilCheese]

the catch is you have to be a loser to get the bonus, but really no reason not to take it if it's free

[shock11]

really cash back why even bet if you are looking for a cash back site

[trumpdown]

Go for the better odds' sites (lower juice) over any gimmicky bonus.

Better odds keeps money in your pocket long after any bonus. This is a basic truth.

Unless of course you are a bonus whore than whore away.....depends on your intention, and how your plan of attack is.

[BooneMnteer]

because they want to attract losing punters
if you expect to win there's no benefit in that
and on top of that they don't offer fully competitive odds
bet at Matchbook and the better odds will more than offset any cash back on losses .. in fact there's actually a danger that you may win because of the better odds

Expecting to win doesn't mean you won't lose. Everyone that plays regularly has bad days, bad streaks, bad months, and so on. Anyone that says otherwise is full of it. I don't expect to lose, but if I do lose I might as well recover a portion of it, right?

And it's probably a share of the affiliate take on the losses they are giving back as was mentioned. I do think 10% is pretty steep when they are maxing out at about 25% on affiliate deals these days. It's not exactly common to see affiliates giving almost half their money back to the players.

I am going to go with JustBet I think. I'm curious about the odds thing you mention. Are the odds at these sportsbooks are not fully competitive?

[BooneMnteer]

Wasn't looking for a "cash back site." I found out about it doing research. In fact, it was one of the customer service agents at one of the sportsbooks that told me about it over the phone.

[70kgman]

Youwager has that gamblers insurance program. If you deposit over $1000 you are qualified for it, and get 25% of your losses back twice a year. That seems like the best rebate cash back program I have seen, for losing players.

[trixtrix]

D+ on the shilling effort

[Hareeba!]

Expecting to win doesn't mean you won't lose. Everyone that plays regularly has bad days, bad streaks, bad months, and so on. Anyone that says otherwise is full of it. I don't expect to lose, but if I do lose I might as well recover a portion of it, right?

right, of course
but if you are expecting to win, such a bonus would not be a high priority thing to outweigh dealing with shops which offer more useful advantages

I am going to go with JustBet I think. I'm curious about the odds thing you mention. Are the odds at these sportsbooks are not fully competitive?

I confess to not having any experience with JustBet but if their odds are competitive with Pinnacle, Matchbook, Betfair and SBO or even better than the other offshore books, and let you on for a decent wager, I'm sure I'd have heard about it before now.