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Rebates and Rewards

Rebates and Rewards at Online Race books

Online gambling sites are on the lookout for innovative ways to attract new customers. You’ll find online casinos offering a variety of bonus and promotional offerings, the same goes for online sports books too. Online race books, where you can bet on horses or greyhound races, usually offer rebates as an incentive to bettors. Bettors get a cash rebate equal to a percentage of the wagers placed during the day or the week, according to the policy of the racebook. Whether you win or lose the bet, your cash rebate will be credited to your betting account, thus stretching your bankroll.

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Reward programs are another incentive to online gamblers. A reward program or a loyalty program is just the sportsbook’s or the racebook’s way to say that they appreciate your patronage and the trust you have placed in their site. Rebates and rewards are beneficial to both parties, that is, the racebook as well as the customer. The racebook’s customer base increases with these incentives and as I mentioned earlier, you the player, get some extra cash to place some more wagers online.

Some racebooks have a policy of giving back a percentage of the wagers that bettors have lost, while others may simply credit a certain percentage of the bets placed irrespective of whether you won or lost the bet. The rebates and rewards at online betting sites are very useful as they help users make the most of their betting dollars. While this amount is a very meager fraction of what the bettor actually lost, if you are an active player, you will see that it adds up rather quickly. Bettors can continue to place their bets despite a number of losses in the past that could have made the bankroll puny and miserable. Frequent bettors at the horse races can take good advantage of these rebates.

Rebates and rewards for horse racing

Rebates and rewards are a common feature on betting sites that focus on betting on horse races or greyhound races. The rebate sizes vary depending on the site but generally, these rebates would be 2 to 8 percent of the total betting volume on a particular day or week. This means that if you bet $20 on a particular horse race and the racebook offers 8% rebate, you will get back $1.6 of the wager.

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Not every bet will qualify for cash back, often racebooks decide to offer rebates only on certain types of wagers. In some instances, high rollers are not allowed rebates since there is a huge potential for other kinds of benefits that they enjoy. Racebooks commonly offer cash back or rebates for bets like the place, win and show wagers, sometimes on quinellas and the trifectas or on exotic wagers.

Some tips to find good rebates and rewards at racebooks

While choosing a racebook, you need to research various factors like the reputation of the site, the betting options, the sport, or in case of a racebook, the races that you can bet on, etc. An important factor in this consideration should also be the quantum of rebate you can hope to get. Although a rebate is a miniscule amount of your total wager, it is still some extra money that you could use for future betting. So look for an online racebook that offers the best rebate percentage.

Racebooks generally credit the rebates according to a fixed timetable; it could be daily, weekly or in some instances monthly. So, the racebook might be crediting your rebate daily at say, 8 pm or if it is weekly, on Saturday, and so on. In this case, the total losses of a player for one week will be summed up and the designated percentage on that total will then be returned to the bankroll of the player on the specified day. This method encourages the players to keep betting across the week. Players are sure that by the end of the week, their bankroll will not be 0 and they will be able to extend the value of their money for another bet or two. If you’d like to stretch your bankroll for another bet over the weekend, then you should opt for a racebook with such an offer.

Budget your Money and Time

Along with the bankroll, some people also budget the time they will spend on betting on the horses. This is a good practice, since you are in control of your bankroll and know when to stop. This is especially useful when you are on a losing streak – setting limits to your spending prevents you from putting in more than the budgeted funds in the hope of recovering losses. Rebates are only a small fraction to make up your losses and when you budget funds for betting on the races, this point must be kept in mind.

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Exercise Control when you Wager

It is very important that you also practice caution when you play. Even if you get rebates and rewards, it is important to pace your deposits and not get caught too deep. The purpose of these rewards is not only to extend the value of your money and make more bets but it is also an exercise of control. Say, for example, you wager 20 dollars a day, for 5 days of play, you use $100. If you lose all, and you get 10% rebate, you retain 10 dollars in your account. It would be a good practice to cut down on deposits by at least 10 dollars next time since you did not actually win anything for the week. Next week, deposit 90 dollars and use the 10 dollar rebate to complete your budget of $100. Retain your winnings and recycle the rebates you get –this will ensure that your winnings are secure.

It is great to earn some rebates every now and then but it is also necessary to keep in mind how to minimize your spending and take control of your deposits. Remember that as much as losing is a natural aspect, it is essential to manage your bankroll well to enjoy the wagering experience. Do a little bit of research, do some math and take advantage of the rewards as well as rebates that you receive at the racebooks.

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