Betfair has made the breakthrough to become top ranked Money Back Bookmaker in March according to affiliate sports website Freebets.com while Paddy Power made a long-awaited return with Money Back Offer of the Month.
It was pointed out in last month’s report on money back offers that Betfair had replaced Paddy Power as the main rival to bet365’s dominance as leading money back bookmaker so it’s not a great surprise to find a new name at the top of the rankings in March.
Ladbrokes was the first online bookmaker to be awarded Money Back Bookmaker of the Month in May 2013 when Freebets.com began ranking money back offers promoted on its website. Since then, bet365 and Paddy Power are the only bookmakers to earn the accolade until now.
Cheltenham was the main focus for bookmakers in March and much of their promotional activity and budget went into offers for the four day Festival of National Hunt racing. Paddy Power traditionally provides the headline money back special on the first day at Cheltenham and its Money Back if Un De Sceaux wins the Arkle was the top Money Back Offer in March. This gave Ireland’s biggest bookmaker its first monthly award since last October.
The record for total number of offers continued to hit new levels and was 17% higher than the previous record set in January and the number of Unique money back offers also reached an all-time high with 123.
The Top 10 Findings From Freebets.com March 2015 Money Back Offers Report
- Betfair ranked March 2015 Bookmaker of the Month, 2nd bet365, 3rd William Hill.
- It’s the first time since May 2013 that a company other than bet365 or Paddy Power has been rated Bookmaker of the Month.
- Paddy Power’s ‘Money Back if Un De Sceaux wins the Arkle’ is rated Money Back Offer of the Month.
- Coral’s ‘Free Bet for every goal Barcelona v Man City’ was the most likely free bet trigger.
- Betway and Boylesports provided most Unique Offers (15 each) ahead of Betfred with 10.
- Bookmakers provided a combined total of 123 Unique Offers in March, the highest monthly figure since monitoring began in May 2013.
- Betfair (160) provided the highest Total Bookmaker Offers ahead of 888sport (158) with Betway (153) in third.
- The monthly Total Bookmaker Offers was 1290, an all-time record and 17% more than the previous best set in January 2015.
- Five of the top 10 Money Back Offers in March were aimed at Cheltenham Festival.
10. Six different bookmakers featured in the top 10 Money Back Offers, making March 2015 the most varied set of ratings on record.
March 2015 Bookmaker Of The Month
Betfair began to emerge as a leading contender for Money Back Bookmaker of the Month in November 2014 when breaking into the top three at the expense of Paddy Power. It has closed the gap to bet365 each month since and finally made it to number one last month.
It did so without having a single offer rated in the top 10 Money Back Offers but provided the highest Total Money Back Offers and was rated fourth, with 12 Unique offers in March.
Football Cashback Extra is the offer giving most value to its customers and because it is available on most televised Premier League and Champions League games ensures Betfair rank well each month of the football season. The offer typically has five refund triggers and customers get to select the scenario of their choice.
Betfair’s 3/1+ Free Bet Special is another to score well in the algorithm for rating offers and it was available for every race at Cheltenham Festival in addition to a selected race on every day of the month.
Money Back Offer Of The Month
We were expecting some great money back offers for Cheltenham Festival and bookies didn’t disappoint. Paddy Power stole the show once again with its money back special on the Arkle. It was no doubt a costly exercise to promise free bet refunds on losing stakes if red-hot favourite Un De Sceaux won the race. The layers will have ‘filled their bag’ on Willie Mullins’ odds-on shot and in refunding every loser, had to forego a significant amount of the money otherwise meant to balance the book.
The Un De Sceaux offer was part of a double-fronted promotion for day one of the Festival as the Irish firm also gave money back as a free bet on the Supreme Novices Hurdle for Douvan winning the race.
Sky Bet and William Hill also targeted the first race with money back on all losers in the Supreme Novices which found places in the top 10 while Ladbrokes ranked sixth for refunding losing bets on the Champion Chase if Sprinter Sacre finished 1st or 2nd. The ‘magic sign’ carried the luck as it was the only one of the five Cheltenham offers in the top 10 that didn’t trigger a refund.
Coral’s offer of a free bet for every goal scored in selected Champions League matches ranked third and fourth behind bet365’s Sky dogs 2/1 offer and when rated purely on their odds of occurring were first and second in the table for Money Back Offers rated by Chance.
This table shows even greater variety of bookmakers and for punters betting stakes of £5 to £25, often provides better value than Money Back Offer of the Month. Six of the top 10 offers in this table were for Cheltenham Festival and Sky Bet also chipped in with a high value offer for the start of the flat season with a free bet special if Tullius wins the Doncaster Mile.
The trend for Total Bookmaker offers has continued to increase since Freebets.com began reporting on money back offers featured on its website. And March saw new records on Total Money Back Offers (1290) and Unique offers (123).
The 19 bookmakers monitored in the analysis has remained unchanged since June 2013 and in that time, more bookmakers have begun to provide free bet offers for their customers. Apollo Bet, Betbright, SeanieMac and Vernons are four online gambling sites that provide regular money back specials that are not included in the analysis.
The pie chart shows which betting sites promoted most money back offers in March. Money Back Bookmaker of the Month, Betfair led the way with 160, closely followed by 888sport (158) and Betway (153). Boylesports, Betfred and Coral all provided more than 100 a figure that was first reached in October 2014 when Coral and Betfair were the first bookmakers to break the century mark.
The number of Unique money back offers has always provided fluctuating results and mostly has little impact on Total Bookmaker Offers which is a count of the various offers available every day. There were a record 123 Unique offers in March, an increase of 25 on the previous month and 21 more than the highest figure in the past 12 months.
Betway and Boylesports both provided 15 different money back offers in March and Betfred were next best with 13.
About The Analysis
www.freebets.com conducts in-depth analysis of Money Back offers promoted on the websites of leading online bookmakers every month. The list of monitored bookmakers reads; 10Bet, 188BET, 888sport, bet365, Betfair Sportsbook, Betfred, BetVictor, Betway, Boylesports, Coral, Ladbrokes, Paddy Power, Sky Bet, Sportingbet, Stan James, Titan Bet, Unibet, William Hill and Winner. The analysis focused specifically on Money Back offers and other promotions such as bonuses, concessions and guarantees are not included.
‘Money Back’ is a widely accepted term in the betting industry for real cash and free bet refunds on selected events and markets offered as insurance against a scenario proposed by the bookmaker. A typical example of Money Back in December was a refund offered on losing World Championship Darts Outright Winner bets if Phil Taylor won the tournament, i.e ‘Money Back if Phil Taylor Wins’.
The report introduced analysis of mobile exclusive offers from 1st July 2013 in addition to those promoted via bookmakers’ main websites which are available to both web and mobile customers. Retail offers are not included.
In order to determine its Bookmaker of the Month for Money Back Offers, www.freebets.com uses an algorithm which takes into account the number of offers available, the maximum free bet or cash refund value and the likelihood of the scenario to come true in addition to the number of events and range of markets which qualify for the offer. The www.freebets.com team draws on over 50 years’ experience in the betting industry to attribute weightings for the various factors in the formula in order to provide comparative values to the complex array of promotions.
DISCLAIMER – whilst every effort is taken to prepare detailed and accurate information, any third party relying on this information does so entirely at their own risk.