What is Betting Insurance?
Every seasoned punter knows the value in having an insurance policy when it doesn’t all go to plan. Having the right insurance can literally make the difference between winning and losing.
So if you’re playing the odds online you should take the time to peak at what kind of insurance various betting sites have to offer.
An insured bet can be compared with free bets in the sense that you don’t risk losing money. A common mistake that’s made is whether your money with be paid back in money or bonuses. But it’s easy to see why these types of campaigns are popular.
Below we list the most common types of betting insurance and insured bets.
Injury Time Insurance
Injury time insurance is a type of insurance where you get your money back if you lose a bet in when the game goes into injury time or additional time. Even if there is a goal one second over the 90th minute, you’ll still get your original bet back in your pocket. So to avoid being heartbroken in the dying seconds of the game find out what injury time insurance a betting site has on offer
Minimum Odds
Betting sites often have a minimum deposit requirement for special offers and campaigns when you place a bet. The amount varies but is usually around £50. In certain cases you’ll even have to take into consideration that there’s a maximum deposit limit, meaning you can’t place a bet over a particular amount.
Specific Matches and Leagues
Betting sites choose which matches are applicable for injury time insurance, and you can’t usually use it for whatever match you want. Injury time insurance is often available for the bigger matches such as in the Premier League, Champions League or La Liga.
Bet Restrictions
Always check if there are any restrictions that apply on certain types of bets. Injury time insurance can be limited or restricted to the result at full-time, half-time, or the first and last goals to be scored.
Live-Betting
In most cases injury time insurance can only be used if you place a pre-game bet before the match starts. Be careful to check whether you can use injury time insurance when placing live bets.
No Score Insurance
This type of insurance does exactly what it says on the tin. If you place a bet on a match, or a half time score and it remains goalless when the whistle is blown, you get your original stake back in your pocket. No score insurance is often used in conjunction with bets concerning:
- Final result
- Half time or full time score
- Scorecast
No Score Insurance can also be used over longer periods. For example Unibet offers its customers no score insurance throughout the entirety of the Champions League 2017/2018.
No Score Insurance is exactly like other types of insured bets, where specific terms and conditions apply. In many cases you won’t be able to use the cash out option.
Visit the betting company’s website to find out which terms and conditions may apply.
Acca Insurance
You might be more familiar with the more common name for Acca Insurance - accumulator insurance. This type of insurance only applies to accumulators, which are often offered for specific football tournaments or over a particular round of results for a tournament.
There are several types of Acca Insurance and they vary depending on which betting site you use or even what tournament you’re betting on.
The most common type of offer usually involves a partial or full refund if one of your bets on a match loses. Refunds usually come in the form of free bets.
As we’ve already said there are different types of Acca Insurance, so make sure you read the fine print before you place your bet in order to avoid any misunderstanding.
In most cases with Acca Insurance you will get either the whole or a portion of your original stake back if you have an accumulator comprising of five or more matches. The advantage of using Acca Insurance is that you both save money and the frustration of stumbling at the last hurdle. It allows you the chance to redeem your original stake if only one of your matches doesn’t go your way.
Certain types of Acca Insurance even have rules which require you to place a bet for certain odds, or a particular sum. To avoid any confusion make sure you always read the fine print.
Other Types of Betting Insurance
Win-Draw-Win Insurance
Staking on a WDW bet means that you reckon a team will either win or draw a match. If you lose the bet you have the chance to get your deposit back.
With WDW insurance you can even get your deposit back if your chosen team loses but scores the first goal of the match.
It’s important to know that the terms and conditions with this type of betting insurance can vary depending on which betting site you bet with or which match you choose to stake on.
First Goalscorer
In recent years betting sites have started to offer first goalscorer insurance. If you don’t choose the correct player who scores the first goal of a game, you’ll still have the chance to get back your deposit. If the player you’ve chosen to score the first goal manages to find the net later in the game, then you’ll get your money back.
Combo Insurance
From time to time, betting sites offer Combo insurance. This type of insurance is similar to Acca Insurance in that you have the chance to get your original deposit back if you lose on one of your five matches. Exactly like Acca Insurance you’re required to place a certain amount of matches (usually five or more). Betting sites usually don’t offer cash refunds on your deposits, but you’ll usually get it back in free bets.
