Every week of the year the major corporate bookmakers are handing out $100k+ in bonus bets in a bid to fight for your business. This article explains how you can bet with well over $5000 of bonus bets every year.
Thanks to increased state gambling restrictions, the days of sign up bonuses for NSW, SA, VIC and WA residents are all but over.
Where the promotional war is raging is in the weekly promotions/specials/money back offers space.
Practically every Saturday Sportsbet and Crownbet are running racing money back promotions, giving out bonus bets if your horse places 2nd or 3rd. WilliamHill has been known to occasionally trump this, offering refunds if your horse finishes in the first half of the field!
Many punters view such promotions with great sceptism (which is fair enough!). Each promotion needs to be considered individually for whether it represents true value. Though generally speaking, bookmaker offers (refund offers and sign up bonuses) can be viewed as “loss leaders”. This means that the bookies are actually giving away money, in anticipation that the money can be made back on future events and races.
Findabet’s mission is to keep punters up-to-date about which bookmaker has the best current promotion, so you can always ensure you are getting the best value.
Let’s say Sportsbet were running a ‘Money Back 2nd/3rd’ promotion for the first 4 races of every major Saturday meet. If one was to solely back the favourites, betting $50 on each eligible race, this punter would place around $200 in bets per week or $10,000 a year.
Typically, favourites win around 35% of the time so a large amount of this punter’s money would be returned in winnings. Say we get 95% of this $10,000 turnover back (the bookmaker’s approximate winning margin on favourites), this means the bookmaker has made $500 in profit off this punter for the year.
However! If the favourite is to win around 35% of the time, there are also 65% of races where the favourite doesn’t win but places elsewhere in the field. If the favourite runs 2nd or 3rd in approximately half of this time, this punter could expect to receive around $3250 (65%*0.5*10k) in Bonus Bets over the 12 months given the above ‘Money Back’ promotion.
In summary, we have lost $500 to the bookie, blindly backing favourites (without the need for any form) but GAINED $3250 in Bonus Bets to do with that we like! Sounds like a good bet to me!
If one was doing this with more than one bookmaker as well as taking advantage of NRL, AFL, NBA etc. money back offers, you can see how it is very realistic to gain well over $5000 of bonus bets per year.
Systematically backing the favourites in the first 3-4 races every Saturday may not sound that fun for everyone, though hopefully this example will at least encourage you to bet where the value lies and maximise your chance of gaining bonus bets every weekend to play with.
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