Money-back as cash is one of the money-back as cash offers a bookmaker can make on special events. For this promotion, the bettor places a bet on a selection. If the bet is lost, the bookmaker will offer money as a free bet if other conditions are met.
Example
There is a money-back offer for a horse to place in the top three. A bettor places a bet on a horse racing event. The bet is for the horse to win. The horse does not win but places second. The money will be offered back to the bettor in the form of real money because the condition of placing in the top three was met.