Offer Types
Now that you are familiar with the idea of matched betting, it is time to go over the most important part, the different types of promotional offers. Remember, matched betting is taking advantage of promotional offers to create risk free profit, IT IS NOT GAMBLING. All profit is derived from these offers, If you do not understand offers correctly, you will not be able to be a successful matched bettor.
Offers will be denotated by either Free bets, or site credit. These are the base of all sportsbooks offers, understanding them and the difference between the two is crucial for success at beating the books.
Free Bets
“Free bets” or “bonus bets”, are the most common type of offer given by sports book. These are bets you can place on a sporting event without taking money from your bank roll. Free bets are non-withdrawable and will sometimes have minimum odds requirements.
If you lose the free bet, you lose absolutely nothing, the stake is completely covered by the sportsbook.
The most important thing to note about free bets is that the stake, the free bet, is not included in the winnings.
For example, if I have a $50 free bet, and I put it on a -110 game, I would be returned $45. However if I was using cash and I put $50 on a -110, I would be returned $95, which is my winnings and my stake. You ONYL RECIEVE PROFIT WITH A FREE BET.
Free Bet Key Takeaways:
- Only winnings returned, not the stake
- No money is lost if the free bet looses
- Must bet first to be withdrawable
Site Credit
“site credit” or “bonus cash” is another type of promotional offer that is given to the player from the sportsbook. Site credit differs from free bets because the winning and the stake are both returned to the player. Because the winning and the stake is both returned to the player, this type of bonus is more valuable than free bets and should be more sought after by players.
There are often playthrough requirements on site credit that players must hit in order to turn their site credit into actual withdrawable cash. Most playthrough requirements are 1x, but it is always important for the player to be aware of them by reading the terms and conditions.
Site Credit Key Takeaways:
- Stake and winnings returned to player, this makes site credit more profitable than free bets and more favorable to the player
- Can be subject to minimum odds and play through requirements
- Must be bet before withdrawable
Risk Free Bets
Risk free bets are one of the most common offers given out to new customers and are very popular with the larger sportsbooks. A risk-free bet is a bet that is refunded by the sportsbook if it looses, hence the name “risk free”.
Risk free bets are not truly risk free however, this is because they are refunded with either free bets or site credit, not actual cash. It is important to note whether a risk-free bet is either refunded as a free bet or site credit, because that will determine how much value the promotion is worth and what games you bet.
It is also important to note that if your “risk free bet” wins, you are given nothing by the book. This is because you are only given a refund if you loose, hence the name risk free!
Risk Free Bet Key Takeaways:
- Not totally "risk free", lose returned in free bets or site credit
- returned free bets or site credit are non withdrawable
- Player is given nothing if bet wins
Deposit Matches
Deposit matches are when a sportsbook will match the stake you deposit in either free bets or site credit. Deposit matches are easy to take advantage of and are probably my favorite type of offer.
Deposit matches are less common for new users and are normally given out to VIP’s or after a player has done some betting on an account. It is important to be aware whether the match is in free bets or site credit, as that changes the expected value of the promotion.
Deposit Match Key Takeaways:
- Player must deposit real money to receive promotional benefits (i.e. free bet or site credit)
- The real deposited by the player is withdrawable, the awarded bonus must be played through before withdrawable
Bet and Gets
Bet and gets are when a sportsbook makes you bet a certain amount of money to receive some sort of bonus. The "qualifying bet" is the cash bet that must be placed to receive the promotional offer. A very common offer is “bet $250 and receive a $250 free bet”. These offers have a lot of value and are relatively easy to take advantage of.
Just like the rest it is important to denotate whether this offer involves a free bet or site credit. Remember, free bets are just winnings, site credit is wagers and winnings!
Bet and Get Key Takeaways:
- Player will be awarded the promotional bonus whether the bet wins or looses
- Qualifying bets can be subject to minimum odds requirements and must be placed with real cash
Profit Boosts
A profit boost is a type of offer that gives you the chance to boost your winnings if your bet is successful. The promotion typically offers a percentage boost on your winnings, which can vary from one sportsbook to another.
For example, if a sportsbook is offering a 25% profit boost promotion and you place a $100 bet on a game with odds of +200, your potential winnings would be $300 (your initial bet plus $200 in profit). With the profit boost, your winnings would be boosted by 25%, resulting in a total payout of $375.
Profit Boost Key Takeaways:
- Profit Boosts increase the potential winnings on a bet, these bets must often be placed with real cash
- If the bet that was profit boosted looses, the player is awarded nothing. The bet must win for the player to see the benefit of a profit boost
