What is the Betwinner Insurance feature?
Have you ever been in a situation where you placed a bet in advance but as the match grows closer you begin having second thoughts? If you are a Betwinner user, you’re in luck! Betwinner is one of the few sites to offer its customers the ability to fully or partially insure their bets, mitigating your risk going into an event and removing a lot of potential stress from a situation!
This tool can be useful to bettors who may have uncovered a piece of information or news that they did not previously take into account, thus drastically shifting their confidence in the bet. It could be an injury to a key player or a vital trend or statistic that was overlooked. It could also be down to simply having staked too much on a bet and not feeling comfortable putting all of it in play. Whatever the reason, the user has more control than ever before with Betwinner’s Bet Insurance feature.
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How it works
Bet Insurance at Betwinner is a paid-for service. This means that the insurance amount will be deducted from the user’s balance when they opt to use the feature. The cost of the Bet Insurance will vary on each individual bet but it is, for the most part, linked to the odds that your bet was placed at.
Betwinner gives the following example on their website:
A €10 bet was placed at odds of 1.80. The user in this situation wishes to fully insure their bet at the cost of €5. This means that €5 will be deducted from the players account for the insurance; in the event of the bet winning, the user is returned €18 as normal. Should the bet lose, Betwinner credits the user €10 to cover the initial stake amount.
Looking at it logically, we can infer that the higher the odds are (ie. 3.50), the more it will cost to insure (due to the bet having a lower probability of winning, thus the bookmaker will have to cover the loss a higher percentage of the time). Conversely, the lower the odds (ie. 1.50), the less it will cost to insure.
It’s not limited to all-or-nothing either. You can insure the same bet multiple times for different amounts. For example, you could start by ensuring 20% of the bet, then later add another 50% insurance on to it.
Terms and Conditions
Every feature and tool offered by bookmakers will have a list of terms and conditions attached. Here are the most important points to keep in mind when using Bet Insurance at Betwinner:
- Only single bets and accumulators can be used in conjunction with the Bet Insurance feature, other bet types are not valid.
- A user can buy insurance on the same bet more than once but the total bought cannot exceed 100%.
- Betwinner reserves the right to suspend the service at any time.
- Betwinner reserves the right to cancel Bet Insurance should a technical error or problem be detected. Bets will be paid out and settled as normal based on the outcome of the event.
- Betwinner does not guarantee that any bet on the site can be used in conjuction with Bet Insurance.
Betwinner’s Bet Insurance is certainly an interesting feature that provides more control for the player. Essentially it offers users the ability to ‘hedge’ their bets. Instead of cashing out your bet before the match starts and thus taking an automatic small loss, you can instead fully insure your bet, reducing the amount of a loss at the cost of lower potential winnings.
If you want to have more information about Betwinner, please read our extensive review.
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