Sportsbook bonuses come in many varieties and many sizes. It helps to know what bonus you are signing up for before doing so. The current sportsbook situation will give you a % bonus based on the amount you are depositing. In general you can expect that the higher the percentage the higher the “rollover” will be as well. The rollover is the minimum amount of total action you have to play before any money can be withdrawn. ex. Lets say you deposit just $100 and your bonus is only 10% and the assigned rollover is just 3X. You would start your account with $110 cash money sitting there. And you would be required to make enough bets to generate $330 worth of wagers thus meeting the 3X rollover. It doesn’t matter if you win or lose the bets. You just have to bet $330 worth of action to be able to withdraw any of that money in your account. You are now free to take the money and do whatever you like with it. Keep playing it, transfer it to another player, or withdraw it altogether.
Live betting;(betting on the game while it's in progress) is offered on selected televised games. Once the game starts, a live game line will be posted on the site under ‘Live Betting’ and will be available for betting throughout the game. Free online betting sites that use real odds and mimic pay-to-play sportsbooks are a great place to practice sports betting skills and strategies As with any new skill, it takes time to master the ins and outs of sports betting. Sportsbook deposit bonuses are, in the main, a marketing technique to gain sportsbooks new customers. They work much like a lot of retail offers, Buy 1 get 1 free type of offers, only with online gambling the product is bets or money to wager with so the sportsbooks offer deposit bonuses which are effectively free bets or free wagers as an incentive for you to register with them, deposit money.
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There are two types of bonus cash. This is something you should check into as well before depositing. You can get the cash bonus like the example listed above. Or you will be offered a bonus called a “free play” bonus. This is where you get a certain amount of free play dollars that you can usually bet on any even just like a regular bet. However, when the bet is paid you don’t get to keep the original betting amount. You only get to keep the winnings. The free play money is almost like a phantom. Free plays typically are larger offers than real cash because they know that you have to win before you see any of the real cash.
It’s not that free plays are bad. They can be misunderstood. And it is always best to know what somebody is getting into before they use their hard earned dollars.
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Using a Sports Betting Free Play Bonus effectively can sometimes determine whether you have a winning or losing season. I personally always go with a guaranteed no risk method to win some money off of my free play and below I will show you exactly how I do it.
So let’s say you clicked on BetPhoenix here, signed-up, sent your money, and got a 100% free play. Okay, so now what ? You might ask; you might also be thinking how can I use this free play bonus effectively to guarantee I get 50% of it in cash.
First a quick explanation of how a sports betting free play works. If you already know, then you can skip this paragraph. Let’s say I sent $500 to Bet Phoenix and they gave me $500 in free plays. I now have two different balances, a cash balance and a free play balance. Now I pick the game I want, I will use Utah Jazz in the NBA and the spread is -2. Well, I am not sure if Utah will win, so I use my free play. I place $110 down to win $100 of my free play and Utah wins by 8 points. Woot! I won. Now my cash balance is $500 + $100 = $600 and my free play amount is $500 – $110 = $390. If you add the two now it is only $990. So, even though I won, which if this was only a cash balance with no free play, I would have a balance of $1100, I still lost the free play amount. The thing about free plays is once you risk the free play the amount risked is gone, whether you win or lose. Now with cash, you get the amount you risked back if you win. So, basically, a free play is the same as cash if you lose, but if you win, you only convert it to cash. Hopefully I explained that clearly, if not please just leave a comment below and I will try to explain the unclear parts bettor.
So, what we want to do is maximize this free play we got. There are several ways and some are complicated and some are not. Now before I start to explain I will not be talking about using 12 three team parlays with 6x odds or anything like that. Yes, it can convert something like 75% or higher of the free play to cash, the problem that most people don’t seem to realize is, yes technically, it can be done, but in practicality you would be extremely hard pressed to find quality books that first had 6x odds, then allowed you to bet both sides, then allowed you to cover every possible scenario, and then allowed you to do it with a free play. So, you may in your search have come across using parlays and that strategy, well, good luck to you if you want to try that route. As for me, I will stick to converting a guaranteed 50% – 55% into cash.
Okay, I will use an example of an actually play I did recently:
NBA- Dec 27, 2010
Minnesota Timberwolves +155
New Orleans Hornets -170
Now our goal is to turn that $500 free play into at least $250 cash so our cash balance would be $250 + $500 = $750. The lines above are to win lines. Now you always have to use the free play on the dog and you are looking for a line that is at least +150 with the other team no greater than -200, this will insure you get at least a 50% return. Now you will not be able to do this at one book, you will have to have money in another book for this to work because you are just asking for trouble if you try this at one book.
Okay, so let’s see how this betting strategy will turn out. We would have placed our $500 free play on the Minnesota Timberwolves +155; which would be to risk $500 to win $775. Now we go over to our other account and risk $500 cash on the New Orleans Hornets -170 in the amount $500 to win $294.12.
Final outcome if Minnesota wins = $775 cash from the free play, but lose the $500 cash play, so our profit is $275.
Final outcome if New Orleans wins = $0 from the free play, but gain $294.12 from the cash play, so our profit is $294.12
Sports Betting Free Play
Minnesota wins = $275 cash which means 55% of the free play was converted to cash
New Orleans wins = $294.12 cash which means 58.8% of the free play was converted to cash.
So, how did we do? On this day the Minnesota Timberwolves won. Our new cash balance is $500 + $275 = $775. This play took me only a few minutes to make and yet earned me a nice 55% return on that free play, which added to my bottom line and that is really what this is all about, adding to your bottom line.
So, there you go, an easy way to insure you get at least a 50% return on your free play. I hope I explained this well enough and if not, just leave me a comment and will do my best to help.
Best of Luck and play smart,
JD
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