Dublin-based online bookmaker Paddy Power is ranked Bookmaker of the Month in a record period for money back offers according to the latest report from top sports betting affiliate Freebets.com
Having played second fiddle to bet365 in July and August, Ireland’s number one bookie swept the board with Bookmaker of the Month and Money Back Offer of the Month in September. It was a month which also witnessed the highest number of money back offers since Freebets.com began monitoring this popular bookmaker promotion in May 2013.
Golf’s Ryder Cup stole the sporting headlines in September and online bookmakers weighed in with some great value offers which made Europe almost a bet to nothing but it was the return of Champions League football and the start of a new NFL season that made the most telling contributions to making September 2014 the best on record for money back offers.
There were a combined total of 843 money back offers promoted by the 19 bookmakers monitored on Freebets.com, beating the previous best of 780 back in January 2014. 888sport had introduced Hattrick Insurance and Eight Is Great to add to its 88th Minute Special money back offers in August and since they apply to every Premier League, La Liga and Champions League match, the Gibraltar-based sportsbook was the major contributor along with UK bookie, Coral.
Coral has greatly improved the number of money back promotions for its customers since the start of the new football season. Its headline promotion is Money Back If Beaten A Head, available on every UK horse race every day and the recent additions on Late Loser, Match Result & BTTS Acca Insurance, NFL/NCAA Acca Insurance and Sky Dogs Money Back sees the sportsbook share the mantle of leading bookmaker when it comes to volume of daily offers with 888sport.
But, yet again, it was Paddy Power who took the major honours for September 2014. Bookmaker of the Month is determined by using an algorithm which gives a cumulative rating for participating bookmakers and the Irish layer emerged top of the pile for the seventh time in the last 12 months, and also provided Money Back Offer of the Month with the special ‘if Falcao scores anytime’ against QPR.
The Top 10 Findings From Freebets.com September 2014 Money Back Offers Report
- Paddy Power ranked September 2014 Bookmaker of the Month, 2nd bet365, 3rd William Hill.
- It’s the seventh time in the last 12 months that Paddy Power has been rated Bookmaker of the Month.
- Paddy Power’s ‘Money Back if Falcao scores anytime’ (v QPR) is rated Money Back Offer Of The Month in September 2014.
- Paddy Power’s ‘Money Back if Falcao scores anytime’ (v QPR) was also the most likely free bet trigger in September 2014.
- Paddy Power provided most Unique Offers (13) ahead of Betway (9) and Boylesports (8).
- Bookmakers provided a combined total of 75 Unique Offers in September, down 24 year-on-year and up 8 on the previous month.
- 888sport and Coral ranked joint first for Total Bookmaker Offers (99).
- Bookmakers provided 843 Total Bookmaker Offers in September, up 150 year-on-year and up 71 on the previous month.
- William Hill, Boylesports and Stan James each offered a mobile exclusive money back offer in September.
10. Paddy Power provided eight of the top ten unique Money Back Offers in September.
September 2014 Bookmaker Of The Month
Paddy Power has dominated Bookmaker of the Month almost from the beginning of Freebets.com analysis and has now been rated number one ten times in 17 months.
The marketing men in Dublin prefer to go for event specific promotions with money back triggers which have a higher chance of coming about than most of its competitors and aligned with high maximum refunds of £50 and £100, Paddy Power looks set to continue being the best or one of the best sportsbooks for money back specials in the foreseeable future. It ranks top in September for the number of Unique Offers and sixth for Total Bookmaker Offers.
Its main rival in the money back stakes is September runner-up bet365, winner of Bookmaker of the Month in the two previous months and six time winner overall. bet365 rarely varies its money back promotions but the broad reach of Bore Draw, Feature Race 4/1, Channel 4 4/1 and Sky Dogs 2/1 offers is such that it has been able to maintain a regular position in the top two of the rankings.
William Hill ranks third and has a similar approach to bet365 in providing a stock selection of money back offers that apply to a large amount of events. Bore Draw refunds, Acca Insurance and Goalscorer Second Chance apply to any football match and the mobile exclusive Money Back if Second on any Channel 4 race completes a very competitive range of promotions.
One could be forgiven for thinking online competitors are not making a big enough attempt to compete as Paddy Power, bet365 and William Hill appear so often at the top of the ratings. But that is far from the case, we’ve previously praised the efforts of Betfair, Ladbrokes, Betway and Winner for their money back promotions and but for maximum refund values the rankings would look a lot more varied.
It is a similar case for 888sport and Coral who have made a significant increase in the number of money back offers over the last two months.
Money Back Offer Of The Month
Paddy Power took the first four places in the Top Ten Money Back Offers in September and eight of the top rated in all. The Irish bookie has always been strong on football Money Back Specials and provided some excellent value offers in September.
The top offer, although not successful in providing a refund for losing punters, was quite amazing on paper at least. Manchester United’s August loan signing Radamael Falcao was subject of the this Money Back Special with a selection of losing bets qualifying for a refund if the prolific Colombian striker scored at any time in the Premier League match against lowly QPR at Old Trafford. With a goal fest expected, Falcao was an odds on bet in the anytime goal scorer market making it better than 50% chance that the trigger would occur.
Sky Bet and bet365 were able to stop Paddy Power filling all top 10 slots. Sky Bet weren’t alone in offering money back on Ryder Cup outright winner bets if USA triumphed but the generous £100 maximum refund put it ahead of the field for the overall Money Back Offer which is based on chance of the refund trigger occurring and the maximum refund amount.
Many of the markets chosen for money back offers appeal to casual punters who typically stake in the £5 - £25 range but the Ryder Cup was essentially a three horse race with the draw a big outsider. On that basis, we expect Sky Bet will have had a lot of heavier hitting golf punters heading their way drawn by the opportunity to eliminate the risk of a USA victory.
When removing the weighting for maximum refund value in favour of the casual punter, the table of Top Ten Money Back Offers rated by Chance looks very similar on September. Paddy Power again ranks in the top four positions but BetVictor makes it to share fifth with its offer to refund losing bets up to £25 if England lost to match favourite’s Switzerland in their Euro 2016 qualifier.
Betway, Ladbrokes and Unibet joined Sky Bet with similar Ryder Cup money back offers.
September 2014 proved to be a record month for money back offers. The number of Total Bookmakers Offers is a count of all the days when there is a qualifying event for any specific offer. So for instance, 888sport’s Neck Refunds counts once for every day there is UK horse racing.
There were 843 Total Bookmaker Offers in the month, 71 more than in August and 63 more than the previous record of 780 recorded in January 2014.
The main influence on the result was the number football matches, domestic seasons are in full flow across Europe and the group stage of the Champions League and Europe League also featured. Additionally the new NFL season launched with 888sport, Betfair, Betway, Boylesports, Coral, Paddy Power and Winner offering money back specials.
As can be seen from the chart below, 888sport and Coral were the biggest contributors with 99 daily offers, followed closely by William Hill with 95.
The number of Unique Offers increased month on month to 75 from 67 but is still a long way short of the best in June 2013 when there were 114 different money back offers available in the month.
This downward trend is not an indication that bookmakers are reducing the opportunities for customers to receive refunds. Far from it, as the figures for Total Bookmaker Offers show, they have simply settled for creating less event specific offers and opted for more inclusive offers which there customers can take advantage of, again and again.
A good example of this is Betfred’s 1-a-piece Offer. Instead of creating an offer specific to Sky Sports’ main match on a Sunday, the Bonus King has made refunds more widely available by offering it on any live televised match shown on Sky, BT Sport, ESPN and terrestrial TV channels. An offer that would have been available on a handful of games now applies to 40 or 50 matches each week.
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.