One of the most important factors to look at when choosing an online racebook is their rebate system because it’s a good measuring stick of how much the website appreciates your business. Cash back on horse track wagers is commonplace in the industry, however, the programs differ greatly among U.S. online casinos and the details can sometimes be hard to find.
For anyone needing clarification on what a racebook rebate is, it’s the amount of money that will be returned to you after making wagers on horse races at an offtrack betting website. Many places issue the funds to players daily, while others do it weekly or even monthly. The percentage amounts that they give back is different from site to site, and their terms and conditions are always inconsistent.
Everyone has a unique policy on what they return for straights and exotics, and on which specific grades of tracks. This guide to rebates at USA online racebooks will tell you everything you need to know about the programs that are available today at our top-rated casinos and outline the strengths and weaknesses of each.
Our team of veteran gamblers has weighed in on each of the following offtrack betting rewards programs and we’ve compiled a definitive list of the best rebates available to U.S. players today. The sections below clearly outline what the details of each website are, and any fine print they have that you might want to know beforehand.
GTbets has a whopping 15% cash back on monthly losses, issued on the 1st of the month, every month. They calculate your losses after any bonus funds have been removed, which is absolutely fair since you can’t expect them to “bonus you on a bonus”, but what a wonderful world that would be!
There’s a bit of fine print here that you’ll definitely want to know going in since it might disqualify you from getting the bonus cash. If your account has been winning in the last 30 days, or accumulatively since you opened your account, you are not eligible to receive the rebate. A program that only rewards losing players is not the industry standard, but it’s understandable in this unique case because the amount of their rebate is so large.
The good news is that if you are eligible to receive the rewards they’ll issue them on every track that they offer without restrictions, and there are no rollover requirements on the returned funds. However, any wagers made over the telephone will not qualify for a bonus so always be sure to place bets through their website.
The MyBookie Racebook offers an 8% rebate for wagers made on “qualified tracks”, that comes without an attached rollover. Like many other websites, any wagers made on Win, Place or Show that payout $2.20 to $2 or less will not count towards the total that the rewards calculation is based on. All bonus cash is paid out daily and will be waiting in your account every morning, immediately available to be used.
Straight wagers on A, B, and C tracks will receive a 3% rebate while exotics can pay out a little more depending on where the race is running. Exotic wagers made on A tracks will get you a 8% rebate, on B tracks they’ll get you 5%, and on C tracks you’ll only get the standard 3% that they give on straights.
BetOnline issues their racebook rebates daily and their terms and conditions are very similar to those of MyBookie, with no rebates issued on wagers paying $2.20 or less for $2. Also, they don’t include any wagers on D or E grade tracks in their rebate calculations. However, they do pay you a straight 7% on all of your wagers, regardless of whether they’re straights or exotics, with one little exception. All bets made on NYRA tracks will only get a 4% rebate regardless of the type of wager that’s placed because there is a very high betting volume at these tracks. This is understandable.
Also, you will only earn a 4% rebate on any wagers made over the telephone, so if maximizing your cash rewards is important to you, make sure that you only place bets online, (as their company name clearly suggests that you do). Thankfully, the BetOnline Racebook is fully mobile compatible so you can bet on your smart phone from anywhere in the country.
It’s normal for casinos to have restrictions on phone wagering and it could be much worse. Just look above at GTbets – they won’t count any wagers made over the phone towards your rebates, so be happy with the 4% that BOL is giving you.
The Bovada Racebook used to have one of the best rebate programs for U.S. players but they changed their entire website and it was merged into their overall rewards system. For many years, players would enjoy a simple 3% rebate on straights and 5% on exotics, issued to their account every Tuesday. It was easy to understand and there was no hidden fine print that preyed on those who didn’t read every word of their Help Section.
These days things are a lot more complicated at Bovada due to their intricate rewards program which has 6 different tiers, with each tier having 3 unique levels – yes, this is pretty darn crazy. All of your gambling is now lumped together and computed to determine exactly how much in rebates you should receive. The categories are broken down by Casino, Poker, and Sportsbook, with racebook activity being lumped into the last one.
Starting off you will receive a flat 2.5% on all of your losses and you will then slowly work your way up the ladder based on your handle, adding an extra .25% in rebates each level you climb. The most you’ll be able to get is a 7.5% rebate, but this will be after hundreds of thousands of dollars in wagers so you’d better be very patient or a high roller.
All of their reward cash comes with a 1x rollover, which is not terrible, but obviously not as good as requirement-free. That all said, they’ve been in business for over 20 years and their reputation alone makes them one of our top-rated websites, so if you’re ok with their crazy rewards system they’re definitely worth a close look.