Before you start attempting to bounce around sportsbooks claiming bonuses, there are a few things you should know about sportsbook bonus hunting.
First of all, sportsbook bonus hunting is very different from casino bonus hunting, although is rather similar to poker bonus hunting, especially in this day and age.
Sportsbook bonus hunting is similar to poker bonus hunting because it requires skill. In poker, it doesn’t matter how good the wagering requirements are – if you’re a very bad poker player, you usually won’t come out ahead after clearing the bonus. The same applies for sportsbook bonus hunting – even with a 5x rollover requirement, if you’re betting the Washington Generals to beat the Harlem Globetrotters every night, you’re going to end up losing money.
A regular bonus requirement for sportsbook is a 5x rollover of your initial deposit plus the bonus. Assuming a house edge of 4.55% and -110 lines, you’re actually -EV when it comes to most bonuses just with the 5x rollover. You can also find rollovers as high as 20x too.
Based on that, there are really three main ways to sportsbook bonus hunter:
1: Sure-Thing Bets
I’m not talking about Brandon Langs “Lock of the Year” or anything like that – I’m talking about sports bets that sportsbooks offer where they actually expect to lose money to the customer.
Examples of these bets include the options to bet on events like WWE Wrestlemania, television show outcomes or political events where the outcome is rarely in doubt. These bets are offered by sportsbooks mainly as a reward for a customer – they will have a maximum amount you can risk or win(usually $50) and are more successful for the sportsbook in regard to player retention.
Unfortunately these bets don’t come up often(maybe once every 2-3 months) and so it can take a long time to rollover your bonus. Furthermore, some sportsbooks will actually have a limited amount of days where you can rollover your bonus.
You could also place bets on events where the bet is known as a “bridgejumper”. For example, if the Cleveland Cavaliers are playing the Miami Heat, and the spread is Cavs +15 – you could bet the Heat moneyline, betting them to win outright. These bets are known as bridgejumpers because you’re betting a lot of money to win very little, and if you lose you might as well jump off a bridge.
Same Game, Different Books
One common practise when it comes to sportsbook bonus hunting is to place two bets on the same game – but on different sides, at different sportsbooks. If you are doing this however, you are best to arbitrage it – where you are getting a better line at one of the sportsbooks.
For example, the Superbowl 2011 features the Pittsburgh Steelers vs the Green Bay Packers. If you were able to bet the Packers -3.5 at
at -105 odds, and the Steelers +3.5 at Superbook, you would not lose money on this bet.
If the Packers cover, you break even. If the Steelers cover, you win money. Of course arbing is a very fine art and takes a lot of work. Don’t expect to easily find arbing opportunities these days, and when you do you have to jump on them fast.
Win Your Bets
This one seems obvious enough – simply place bets and win them!
However most sportsbook bonus hunters aren’t seasoned sports betters, which is why we have this section here – as a warning.
Many sports betters don’t realize, especially when it comes to American spread bets, just how difficult it actually is to win on a regular basis. First of all assuming a -110 standard juice line, you need to win 52.4% of your bets to make a profit.
However a sustainable win rate is in the 57% range, and that sort of win-rate isn’t even that common. Most successful sports betters will have win-rates around 54%.
This is something that surprises new sports betters, which is why we have this section here. Many new punters don’t realize just how DIFFICULT it is to actually win at sports betting on a regular basis. I also run an NBA Betting Tips service and I see it all the time – people just don’t expect to lose when it comes to sports. They think it’s easily beatable when it really really isn’t. Trust me on this one: for every 100 spread bets you make, expect to lose at least 43 of them.
So when you are betting on sports, don’t just bet on a whim. Research everything, or trust others. Don’t bet on the teams that you like(a common mistake) – take an objective look at everything. Also look at markets where there isn’t enough of a history to have true lines yet like the WNBA and MMA. Read forum posts on various betting forums, study form – you have to WORK at it, to win. Or use paid and proven handicappers like NBATips.net who have winning records.
We also have some final advice:
Milk the Sportsbook for all that they are worth
When it comes to Sportsbooks, it’s not like poker or casino, where you basically sign up, deposit and play, then move on. Sportsbooks offer various specials, from bonuses to reduced lines and special promotions, so you need to take advantage of as much of it as possible.
A few examples:
- 5Dimes: Various reduced lines
- Betfair(Non-US): £25 Free Bet
- BetPhoenix: Special Event promos, ie: Super Bowl free wagers
- Sportsbook.com: Free Mobile Bet, Extra Bonus for Moneybookers
Basically before signing up at a sportsbook examining everything that they offer, and make sure to take advantage of it. Also be sure to check the sportsbook often because they regularly run promotions for events like the Superbowl and NBA Playoffs which are free to enter.
Additional Sportsbook Bonus hunting Questions:
The answer to the question How To Bonus hunter Sportsbooks? is also applicable for the following questions: