Sportsbook Bonus Chasing
Seems like a good time to give my annual overview on the topic of sportsbook bonus chasing. I get enough e-mails and PMs from people who are interested in the topic that it seems warranted to me. I also get people approaching me at ITH gatherings who want to shake my hand for helping them to make money by chasing sportsbook bonuses. I value that more than a good arb bet for myself, so it spurns me to action!
Some general information:
- The way I chase sportsbook bonuses puts no risk to my bankroll. I can only profit.
- Sportsbooks would prefer that I did not chase bonuses as I do. Some would ban me if they knew. (This has never happened, but could.)
- You can start a poker career on very little cash, but this is not true for sportsbooks. You should have at least $5K to start. More is better. Too much is not possible. I will state that again for emphasis: It is not possible to have too much money in your sportsbook bonus chasing bankroll. I maintain about $12K. when I had Neteller I was maintaining about $25-$30K.
- You need accounts at multiple sportsbooks or sports betting exchanges.
- Chasing sportsbook bonuses is substantially more profitable than chasing poker bonuses.
- I do not know everything about it (but I am pretty good).
Here is a very general overview on how it is done:
Deposit at two different sportsbooks, receiving a deposit bonus at both. Find a game where the line at each of your two sportsbooks allows a bet to placed on both sides of the game with a very small loss (or small gain). For example, let's say you deposited $1,000 at Sportsbook A for a 10% bonus - so you have $1,100 dollars to bet. You deposit $1000 at Sportsbook B for a 20% bonus, so you have $1,200 to bet. Then you look at the lines at each book for the Fatties vs the Donks.
Book A:
- Fatties (+3.5) +109 / Donks (-3.5) -106
Book B:
- Fatties (+3.5) +101 / Donks (-3.5) -109
Don't worry if you don't understand all the numbers yet. Just recognize that with these lines you can bet on the Fatties at Book A and the Donks at Book B in such a way that the bets will exactly cancel each other no matter which team wins. Bet this way, you cannot lose. Any money lost at Book A if the Donks win will end up in Book B, and vice versa if the Fatties win. You have no risk to your bankroll, but you can keep the bonus.
Its really that easy. There are, however many intricacies and details to maximizing your profitability. There are also some hidden pitfalls that can prove bothersome if they are not avoided. If you want more of the details and pitfalls, then you should come to BullsBetting to learn sports betting.