So you want to get more money from those bonus offers? Sure, that is a possibility, but you have to play smartly. Bookmaking is a competitive industry, and so many online exchanges often offer bonus bets and other promotions when you sign up with them for the first time. Obviously, they do it to attract you, but how can you ensure that you utilise all of these, and actually make some real money? Read on to find out.
The Simple Strategy
The most basic strategy in the book is to place bonus bets at fairly low odds, around $1.50 or even lower. And yes, you can split this across multiple bets. Now each individual bet is associated with a certain winning percentage. And since you spilt up all the money, the overall return will be somewhat less impacted if you lose the individual bets.
Assume that you were offered $500 as a bonus. Now you can split this into 20 equal bets, each at an odd of $1.50. At 65% return chances, you can expect to win 13 of these. Factoring in the margin for your bookmaker, the expected money earned would be somewhat around 25 x (1.50 – 1.00) x 13, which turns out to be $162.5.
So what are advantages do you get from bonus bets offers of such an approach? Well, it’s pretty simple to get, and you earn a predicted amount. But you can’t ignore the fact that the overall expected return is still low. Let’s try something else to increase this as well.
The Half Money Hedge Approach
If you use this approach, you choose even money and 2 outcome bets, but you place all of the money on only one of these. As for the 2nd outcome, you place half stakes on it, but with another bookmaker. A bet of this sort is often referred to as a matched bet. Try to get the best odds from both bookmakers when you use this approach.
The strategy almost always guarantees that you will win a fixed amount that doesn’t depend on the outcome. Plus, it is a really simple to execute, but you should have accounts with at least two bookmakers. Also be careful about a couple of things such as picking genuine two horses races, avoiding markets where you could lose one of the bets, and not placing the matched bet with the same bookmaker.
Let’s consider an example: you come across an even money bet, a line bet to be precise, which pays $1.92. Now you place a bet on $500 worth of bonus money with bookmaker A, and then match using real money, worth of $250, with Bookmaker B; this would be on the opposite outcome. Assuming your bonus bet wins, you earn $460 real money, and if the real money bet wins, then you get $480. The average return is thus, around $470. So in both cases, you do make some profits on $250 outlay.
There are obviously some other approaches as well, but they are more complicated than the ones highlighted here.