Simply put, a money back special means punters will receive a refund on their stake on a certain market if a predetermined outcome set by the bookmaker actually happens.
For example, a popular money back special they use within their football markets is whether a certain player scores first in the match. What makes these offers so lucrative for punters though is that they are usually tipped into the customers favour as the player chosen for the offer is usually at the head of the market.
For example, during Euro 2012, the Irish firm regularly used Cristiano Ronaldo, who was no bigger than 2/1 on any occasion to score in the 90 minutes, as their money back offer if he scored.
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It is a promotion that is regularly used by Paddy Power and has gone a long way to increase their popularity within punting circles, predominantly with the younger generation and casual gamblers rather than the professionals.
When you bet with Paddy you can guarantee the experience will be much more than just winning or losing money – it’s all about providing a fun betting experience for their customers.
One of the main reasons for the boom in this area of the industry is from their innovative marketing campaigns, which include the aforementioned money back specials. They look at betting as it should be – a fun pastime – and their ability not to take themselves too seriously has won them a lot of friends and customers within punting circles.
They specialise in small stakes bets, which is a different approach than most bookmakers take. They believe that low stakes betting is a more entertaining form of betting with better odds than the conventional betting.
Paddy target this offer across on the sports channels – whether you are a boxing or a badminton fan, Paddy will regularly incorporate this offer into your betting. Obviously the two most popular markets, football and horse racing are the sports that are pushed to the forefront of Paddy Power’s offers.
With the global appeal and coverage of football at an all-time high, betting on the beautiful game has also increased in popularity. It is seen in the industry now as the key component for driving in new custom, surpassing horse racing with most firms. It is especially popular with casual bettors, who are predominantly football fans with big opinions on the game and willing to back their feelings up with cash.
The money back specials with Paddy Power are very much targeted at these types of gamblers as not only does it seemingly give the customer an edge it also makes the betting experience more easy to enjoy for the customer.
A prime example of how the Money-Back Specials are very much in favour of the punter is to look at the Paddy Power’s results in that department for Euro 2012. The Irish firm had to refund money on 1st Goalscorer, Last Goalscorer, Correct Score and Scorecast singles on eight matches during the tournament, meaning they gave back over £6,000,000 in punters cash that would have gone down the drain if they had played with any other bookmaker on the market.
The main market they took a hit on was the refund involving England and if they were knocked out on penalties.
As with tradition, England went out in their usual fashion to Italy and it is reported that punters were refunded over £1,500,000 in losing bets by Paddy.