Rakeback in other markets?

[addz123]

Not sure if this is legal, but could a sportsbetting affiliate offer "rakeback" to their users, such as giving them a percentage of their bets back if they lose?

Is this a good idea? I see no reason (other than legal) why the whole concept of rakeback i.e. affiliate cutting their profits to give users more money, coudln't spread into other markets with the same success. Even bingo for example.

In sum though, can/should I do this on my betting site?

[cernus11]

IMO rakeback in poker works because poker is a long term winning game for skilled players. I'm not familiar with sportbetting so I can't comment but bingo is a long run losing game. This means that by nature bingo players don't care about losing money so why would they care about rakeback? You will find that the more savvy poker players will go after rakeback but are there really savvy bingo players?

[kushmoney]

Not sure if this is legal, but could a sportsbetting affiliate offer "rakeback" to their users, such as giving them a percentage of their bets back if they lose?

Is this a good idea? I see no reason (other than legal) why the whole concept of rakeback i.e. affiliate cutting their profits to give users more money, coudln't spread into other markets with the same success. Even bingo for example.

In sum though, can/should I do this on my betting site?

I know I read this before. If I remember right, the answer is "Because its against sportsbook sites T&C"

[addz123]

IMO rakeback in poker works because poker is a long term winning game for skilled players. I'm not familiar with sportbetting so I can't comment but bingo is a long run losing game. This means that by nature bingo players don't care about losing money so why would they care about rakeback? You will find that the more savvy poker players will go after rakeback but are there really savvy bingo players?

Regardless of that, I'm sure offering football bettors money back for punts they lose would definately be attractive for them. Regardless whether they are losing money, i'm sure they'd be happier if they could lose "less money".

Also Kush, if it's been discussed before, and was against T&Cs, then i guess that's all I have to say...

cheers

[alexpratt]

And what about rummy? Could it work....? Similar to poker as a game....

[kushmoney]

And what about rummy? Could it work....? Similar to poker as a game....

I seen it on one rakeback site. Rummy might work in the rakeback market. Only time will tell.

[Mackan]

Rakeback for sportsbetting will never work when you have many players on the same affiliate account.

Imagine that you refer 2 players to a sportsbook by offering them a percentage back when they lose. Play number one has a bad month and drops $1K in the sportsbook and you have to pay him cashback on his losses. Player number 2 is having a great month and ends up winning 2K which leaves your affiliate earnings at a negative for the month.

Obv player 1 will still want his cashback as promised which means you end up paying money out of your own pocket.

[MJ]

Bookmakers themselves are the ones that will do the cashback rewards, it's already starting as things get competitive. In fact I think most sites already do promotions with 10-20% cash back on losing bets - at least promotionally, I'm sure more of it will come.

[Ridge]

Maybe some kind of VIP Comps system would work? I dunno that I would want to do it like direct cash, but maybe a points system on their bets. I dunno anything about sportsbetting though.