Sports betting is a lucrative industry with great revenue potential. It is a
flourishing industry that is constantly expanding and many investors are looking
to enter the market by launching their own sports betting platforms. The craze
for sports betting has given significant rise to sports betting app development.
What is Sports Insurance?
Sports betting platforms are constantly finding new ways to attract more users
and maintain the loyalty of existing users. Many online sportsbooks have a
variety of promotions and bonuses, including betting insurance. Online sports
betting websites provide an option to insure a bet, an insured bet can allow you
to get your credit back if you lose a wager. Sports insurance is a great way to
entice new customers to your platform.
There are various types of sports betting insurance that protect your money and
ensure you get your stake back in some way or another if you narrowly miss out
on being a winner.
Types of Betting Insurance
Sports betting insurance is a great way to provide a sense of value to the
bettors. New insurance offers are coming out every day as it is a neat way to
protect your stake money. It is a very lucrative promotion and is very
sought-after by punters worldwide. Here is a list of all the different types of
sports betting promotions that protect your money.
It is one of the most popular types of bets because it offers a high payout for
a small investment. Punters have to bet on different legs and win every single
leg to secure the winning amount. Acca bets are very difficult to win which is
the main reason why the payouts are so hefty. For example, you placed a five-leg
accumulator and won four of them and lost 1. Frustrating, isn't it?
Acca Insurance takes care of such a scenario by providing your stake back if you
lose a bet because of one leg. Some sportsbooks have various criteria for Acca
insurance like winning a certain amount of legs but the general concept remains
Not every bookmaker offers Faller Insurance. Those who do, only offer it for the
biggest races. Faller Insurance ensures that if your horse falls at a fence, is
toppled by another horse, or Unseats its jockey during the race, you will get
your stake money back.
There are often minimum requirements to be met to claim the insurance like
minimum stake and maximum amount that they'll reimburse. It is also worth noting
whether the payback is in the form of cash or a free bet.
90+ Minute Goal Insurance
Have you ever bet on a football match and lost the bet because there was a goal
scored after 90 minutes of the game? Breaks your heart, right? 90+ minute goal
insurance is provided especially to avoid this scenario. If a goal is scored
after 90 minutes of the match, your stake will be returned to you in some form.
Generally, bookies only offer this insurance on select matches and on a
pre-decided amount of bet. Nevertheless, it is a great way to protect your money
and get rid of unwanted stress.
Second position Insurance
The majority of the insurance is offered when the bettor gets really close to
winning. This is the case with second-position insurance. This insurance
protects your stake if your horse falls into the second position. Some generous
bookmakers stretch the offer to the 3rd and 4th position on select horses.
However, there are certain criteria that need to be fulfilled to claim this bet.
Conditions like a minimum amount of bet, available only on certain horses and
there must be more than 4 horses in the race. It is still a great way to get
your stake back if your horse fails to secure the first position.
Beaten by a Certain Distance Insurance
Have you ever seen movies where the horse loses the race by a nose, a head or a
length? Well, there is insurance to cover your losses if the scenario happens in
a race. Beaten by a certain distance protects your money if your horse loses by
a certain length. Many sports betting platforms offer this insurance on horses
with certain odds like 3/1 or higher. The length is pre-determined and as long
as the length the horse is beaten by falls under the criteria you'll get your
stake back in the form of cash or a free bet.
Why do Sports Betting Platforms Offer Insurance?
Online sports betting platforms are businesses whose main objective is to
generate profit. There are various reasons that a sports betting platform offers
these types of promotions to its customers. The primary reason is to attract a
large audience. Sports betting platforms employ various promotional strategies
to attract more users to their platform, sports betting insurance are only
offered at special events and at special odds, so the possibility that the
platform has to pay back the punter is incredibly rare.
Even if you managed to fulfill all the criteria and managed to get your stake
back, the betting platforms will win back your money in the long run. Stakes are
paid back in the form of free bets that you can only use on the sports betting
platform. Even if you manage to get your stake back in the form of cash, you'll
eventually invest the money back into another bet. It is a marketing strategy
which allows sports betting platforms to attract new customers, retain existing
customers, and win back your money in the long run.
Sports betting websites offer various promotions to attract new customers. Bet
insurance is a great way to attract a large audience while also protecting the
user's stakes. There are various types of sports bets and it's a good idea to
insure your bet to avoid unexpected losses.