How stake back works
TAB's My Offers list is the clearest statement of the model, because every token in it ends the same way: "Bonus Bet capped at stake up to a designated amount specific to individual customers".1 You bet cash; the bet loses in the named way; a bonus bet arrives, worth up to what you staked and no more than your personal cap; that token then follows the bonus bet rules: seven days, profit only, one use.
Worked example · $50 win bet at $4.00, runner finishes 2nd, Race Saver token with a $50 cap
- Cash lost on the bet
- −$50.00
- Bonus bet issued
- $50 token
- Token used at $2.00 and wins
- +$50.00
- Token used at $2.00 and loses
- $0.00
- Net after the token wins
- $0.00
"Stake back" therefore means a second chance at getting your stake's profit back, not the stake. With the cap below your stake it's less: a $50 bet with a $20 cap returns a $20 token. PointsBet's Run 2nd help page shows exactly that, a banner reading "the maximum stake for this punter is $20".3
The racing versions
Race Saver 2nd/3rd (TAB). "Available once per person per race on Fixed Odds or Tote win bet (excludes both) … If your runner finishes 2nd, 3rd or 4th, Bonus Bet capped at stake." Minimum field requirements apply.1
Reload (TAB). The same, but "if your runner does not win": any losing win bet on the race earns the token, once per race.
Win Plus Stake Back (TAB). The reverse: "if your runner wins, payout plus Bonus Bet capped at stake". A winning $50 bet at $4.00 returns $200 cash and a $50 token.
Run 2nd (PointsBet). Paid "as a winner" if the horse runs second, on your first fixed-odds win bet on the race, up to the banner maximum. Bets with a Pay Back token, an Odds Booster or inside a multi aren't eligible. PointsBet was settling eligible bets manually when I checked.3
Pay Back token (PointsBet). Applied before the bet; a losing bet earns a bonus bet, credited "around 15 minutes" later. Cashing out a bet with the token on it changes what's paid.4
Protest Payout (PointsBet). A win bet is paid as a winner if the horse crossed first and was relegated on protest; Australian horse and harness racing only, resettled 10 to 20 minutes later.5
Trifecta Get 2 out of 3 and Quaddie Saver (TAB). Two of three runners in the top three, or a quaddie that loses by one leg, earn a token capped at stake.1
Every stake-back token on this page is a bonus bet with a cap, and the cap is personal to your account. The comparison shows which bookmaker states its caps and exclusions most plainly.
Compare the promo terms of Sportsbet, TAB and PointsBet →TAB: every token capped at stake up to a customer-specific amount; PointsBet: maximum stake on the promo banner; Sportsbet: bet return can't be combined with Power Play or bonus bets · 18+ · Gamble responsibly · Gambling Help Online 1800 858 858
Multi saver
TAB's Thoroughbred/Greyhound Multi Saver: "If the specified leg(s), as allocated on the Bonus Bet token, lose(s) Bonus Bet capped at stake." Legs must be fixed win markets, each at $1.10 or better, combined price $1.50 or better, and "any bets which include scratchings and no longer meet eligibility criteria will be ineligible".1 The Same Race Multi Saver needs a combined price of $2, a field of five runners, and a standalone same race multi placed in the app; if one leg loses, the token is capped at stake.
Worked example · $50 four-leg multi at $6.00 combined, one nominated leg loses, $50 cap
- Cash lost
- −$50.00
- Multi Saver token
- $50 token
- Token on another multi at $6.00, wins
- +$250.00
- Token loses
- $0.00
- Token's expected shape
- profit only, 7 days
Two legs losing usually means no token: the offer names "the specified leg(s)", and a multi that falls apart elsewhere didn't lose in the named way. And a scratched leg that drops the combined price below $1.50 voids the token altogether. TAB's clause 61.4 adds the general rule: a promo that required a three-leg multi isn't satisfied if one leg is cancelled.2 PointsBet's Pull Em token is the mirror image: pull a losing leg out of a multi, and the help centre answers whether a bonus bet still follows if the rest loses.
What stake back doesn't apply to
TAB's tokens carry the same exclusion line: "No multi, bonus, cash out, partial cash out or live bets qualify. Bets placed with Multiplier are ineligible."1 Each-way is out ("excludes both"). PointsBet's Run 2nd: not with a Pay Back token, not with an Odds Booster, not inside a multi, and only the first fixed-odds win bet on the race.3 Sportsbet's bet return "will no longer be eligible to also select a power play or be able to place the bet using a bonus bet".6
The general rule under all of it is one promo per bet. A stake-back token, a boost and a bonus bet stake are three promos, and a single bet carries one.
Stake back weighed up
Where it helps
- A losing bet isn't a total loss: a token follows.
- Win Plus Stake Back pays a token on top of a winning bet.
- Multi saver covers the most common way a multi dies: one leg.
Where it costs
- Paid as a bonus bet, not cash, so it's worth (token × price) − token.
- Capped at a personal maximum that can be well under your stake.
- Not on each-way, live, cash-out, Multiplier or multi bets.
- A scratching or a cancelled leg can void the token.
My verdict
Bet the cap, not more, and bet it as a plain win single or a fixed-odds multi that clears the minimum prices, because everything else is excluded. Then treat the returned token as a second bet with its own seven-day life and profit-only payout. A $50 stake back at a $20 cap is a $20 token, and that's what it's worth. The comparison shows which bookmaker prints its caps and exclusions where you can read them.
Questions punters ask
What is a stake back promo?
A promo that issues a bonus bet up to the value of your stake when the bet loses in a specified way: TAB's Race Saver pays it if your runner finishes 2nd, 3rd or 4th; PointsBet's Run 2nd pays out as a winner if your horse runs second on an eligible bet.
Is stake back paid in cash?
At TAB, no: every My Offers token issues a Bonus Bet capped at stake. PointsBet's Run 2nd help page talks about being paid out as a winner, and its Pay Back token issues a bonus bet within about 15 minutes.
What is a multi saver?
A token on a multi: if the nominated leg or legs lose, TAB issues a bonus bet capped at your stake. Legs must be fixed win markets at $1.10 or better with a combined price of $1.50 or better.
Why didn't my Run 2nd promo pay?
PointsBet lists four reasons: the bet used a Pay Back token, used an Odds Booster, was part of a multi, or wasn't your first fixed-odds win bet on the race.
Does stake back apply to each-way bets?
TAB's Race Saver and Reload apply to fixed odds or tote win bets and exclude both, meaning each-way. Sportsbet's general terms bar bonus bets from each-way bets too.
What is a maximum stake on a stake back promo?
The most of your stake that can come back, set per customer. PointsBet's help page shows a banner reading a $20 maximum; TAB's tokens say up to a designated amount specific to individual customers.
Sources
- TAB Help Centre, My Offers – Bonus Bet T&Cs (Race Saver 2nd/3rd, Reload, Win Plus Stake Back, Same Race Multi Saver, Quaddie Saver, Trifecta Get 2 out of 3, Thoroughbred/Greyhound Multi Saver and Multi Boost) — help.tab.com.au/bonus-bets-promotions/my-offers-bonus-bet-t-cs, checked 29 September 2026.
- TAB Help Centre, Promo T&Cs (clause 61.4 cancelled legs, 61.5 rounding, 62.2 single bets) — help.tab.com.au/bonus-bets-promotions/promo-t-cs, checked 29 September 2026.
- PointsBet Help Centre, My horse ran second - why haven't I been paid out as a winner as per the Run 2nd promo? and What is my maximum stake amount for the Run 2nd promotion? — support.pointsbet.com.au/hc/en-au/articles/17759373979279, checked 29 September 2026.
- PointsBet Help Centre, I used a Pay Back Token but I haven't received my bonus bet (around 15 minutes) and What will happen if I cash out a bet with a Pay Back Token used on it? — support.pointsbet.com.au/hc/en-au/articles/10851375431311, checked 29 September 2026.
- PointsBet Help Centre, How does the 'Protest Payout' promotion work? and Do I get a bonus bet if my bet loses after I pull a leg with a Pull Em token? — support.pointsbet.com.au/hc/en-au/articles/360056569374, checked 29 September 2026.
- Sportsbet Help Centre, Bet Return Use With Other Promotions (no Power Play or bonus bet on the same bet) — helpcentre.sportsbet.com.au/hc/en-us/articles/18424995031181, checked 29 September 2026.