Usually, cash back in Nigeria is used by bookies solely to avoid losing their customer base. You don’t seriously expect bookies to just give away money, do you? So let’s get into the specifics of all tipes of cash back in more detail.
Cash Back Bonus at Bookmakers
A cashback from bookmakers is a payout of a portion of the betting amount lost. In most cases, the payout range is between 5% and 50%, depending on how loyal the bookmaker is to his customers.
Apart from the size, bookmaker’s cashback payouts in Nigeria are divided into the following types:
- By sport;
- For new punters or existing customers;
- Without or with a wagering requirement;
- Cashback on parlays or on single bets.
The big pros of cash back compared to other types of bonuses is that there is no time limit. Often the entire amount given back by the bookmaker does not have to be wagered, and can be withdrawn whenever the bettor wants.
How to get Cashback
A lot of Nigerian bookmakers require a complete online registration and verification as a prerequisite for receiving any kind of bonus. Also, the customer must bet on certain markets and sports for which the Nigerian betting organizer is willing to get some money back. There are also a number of other conditions, depending on the specifics of the sport, according to which the cashback payments are made:
- Your horse came second in the race;
- A boring draw in football;
- Last minute goals;
- Parlay did not play because of one unfortunate event.
In any case, a bookmaker’s cashback is better than nothing. For, more often than not, it is used to reward names for losing bets rather than winning bets.