Topic Wiki

PSA: PLEASE BE AWARE OF ALL OF THE RISKS INHERENT IN BETTING OF ANY TYPE BEFORE DEPOSITING MONEY THAT YOU CANNOT AFFORD TO LOSE.

PSA: If you're already caught up in this and don't know how to stop, or can't stop, or are in too much trouble to believe that you can ever be normal again...PM me.

There is hope.

« Last edited by Yehuda57 on January 21, 2022, 11:13:03 AM »

Author Topic: [PSA: Gambling Is Risky And Addictive] Sports Betting Account Signup Bonuses  (Read 25976 times)

Offline coffeebean

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Feb 2018
  • Posts: 3005
  • Total likes: 818
  • DansDeals.com Hat Tips 10
  • Gender: Male
    • View Profile
Might be a silly, slightly irrelevant question, but I assume you have to pay taxes on the 'profit' eventually? Do the sportsbooks produce tax forms at the end of the year?
I also wonder if one account loses has an affect of another account wins

Offline coffeebean

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Feb 2018
  • Posts: 3005
  • Total likes: 818
  • DansDeals.com Hat Tips 10
  • Gender: Male
    • View Profile
No I meant on the net profit between the 2 accounts.
What ever you win on one account will be the same amount loss on the other

Offline joe1234

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Jul 2015
  • Posts: 2071
  • Total likes: 535
  • DansDeals.com Hat Tips 19
    • View Profile
Caesars sports betting website is currently offering $3,300 in Site Credit when you sign up, deposit $3,000, and bet in NY.

The only way to utilize the $3,300 sign up bonus is if you actually bet the $3,300.

If you are a guy like me, and you don't want to risk the loss of the $3,300, you can hedge the bet with a different account.

Here's how you can do that...

Open up a 2nd account with a different social and deposit the $3,000 just like you did with the first account.

Now that you have $3,000 liquid and $3,300 in site credit on 2 accounts it is time to place bets against each other in order to maximize the return with no risk.

Now you'll want to find a bet which is the closest to receiving a 100% return on each side. Usually that's an over/under bet for example I bet that the total score will be over 50 or Under 50, so if you win you'll receive about 90% of your original bet.

Time to hedge the bet: On account 1 bet your $6,300 on a game that the score will be over 50 (for practical purposes), on the 2nd account bet on the same game $6,300 that the score will be Under 50.

One account will win about 90% of $6,300 which will turn into about $12,000 liquid, and one account will be left with $0.

There you have it $6,000 profit.
do i need to live in NY for this?

Offline coffeebean

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Feb 2018
  • Posts: 3005
  • Total likes: 818
  • DansDeals.com Hat Tips 10
  • Gender: Male
    • View Profile
do i need to live in NY for this?
No, you physically have to be there in order to log in. VPN don't work.

Online skyguy918

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Mar 2011
  • Posts: 3810
  • Total likes: 826
  • DansDeals.com Hat Tips 1
  • Gender: Male
    • View Profile
  • Location: Queens, NY
Is there a reason this is in the stocks thread? This should probably get its own thread no?
Are these all still active? For example DK is only showing 20% bonus on $5k.
No, you physically have to be there in order to log in. VPN don't work.
I'm in NY and William Hill (for Caesar's) site location verification is not working.

Online skyguy918

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Mar 2011
  • Posts: 3810
  • Total likes: 826
  • DansDeals.com Hat Tips 1
  • Gender: Male
    • View Profile
  • Location: Queens, NY
What ever you win on one account will be the same amount loss on the other
You're not gonna be allowed to write off a 12k loss where you only actually lost 6k.

Offline coffeebean

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Feb 2018
  • Posts: 3005
  • Total likes: 818
  • DansDeals.com Hat Tips 10
  • Gender: Male
    • View Profile
Is there a reason this is in the stocks thread? This should probably get its own thread no?Are these all still active? For example DK is only showing 20% bonus on $5k.I'm in NY and William Hill (for Caesar's) site location verification is not working.
What error message are you seeing?

Online skyguy918

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Mar 2011
  • Posts: 3810
  • Total likes: 826
  • DansDeals.com Hat Tips 1
  • Gender: Male
    • View Profile
  • Location: Queens, NY
What error message are you seeing?
Quote
We can not verify your location.
Your device did not return any location information. Please Turn your device's WiFi ON. For mobile data connection: Please make sure "High Accuracy" Location Services are enabled. For WIFI connection: make sure your device is in range of multiple wireless connections. Please address the items above, then try again.
Does this not work with desktop (wired connection)?

Offline coffeebean

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Feb 2018
  • Posts: 3005
  • Total likes: 818
  • DansDeals.com Hat Tips 10
  • Gender: Male
    • View Profile
Does this not work with desktop (wired connection)?
Good question maybe Google can help

Offline coffeebean

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Feb 2018
  • Posts: 3005
  • Total likes: 818
  • DansDeals.com Hat Tips 10
  • Gender: Male
    • View Profile
That they haven’t been paying out.
Where is this info from?

Offline AsherO

  • Global Moderator
  • Dansdeals Lifetime 30K Presidential Platinum Elite
  • **********
  • Join Date: May 2008
  • Posts: 30535
  • Total likes: 7832
  • DansDeals.com Hat Tips 79
    • View Profile
  • Location: NYC
Where is this info from?

Claim made by the first post in this thread (merged from a JS thread actually), the OP hasn't linked to the reports he suggests exist.
100% of Likes will be donated to support our brothers and sisters in Eretz Yisrael

Offline coffeebean

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Feb 2018
  • Posts: 3005
  • Total likes: 818
  • DansDeals.com Hat Tips 10
  • Gender: Male
    • View Profile
I’m sure everyone has heard about the 3k bonus for Ny/NJ residents..

Hearing reports they haven’t been paying people out, regardless of bonus/cash status. Thoughts? Comments? Proof?
That they haven’t been paying out.
Just spoke to someone who has been doing this for years. He said he has never had a problem with payout. He also wants to know where and who you heard this from, and if they did something stupid like hedging in the same account? I'm curious myself since I didn't do it yet, and if I can't get a payout there might be a net loss of $3k.

Offline JMHO

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Apr 2020
  • Posts: 1419
  • Total likes: 1241
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: NYC
There's a much simpler solution if you want to make 6k instantly. Sign up to CZR with 2 different socials. Sign up bonus is currently at $3,300. Deposit 3k into each account. Place a $6,300 bet (an over/under bet that at a -110 return) on one account, hedge that bet from the 2nd account. One account will be left with $0, and one with 12k. That 6k profit right there.
Just make sure one of your bets isn't canceled right before the game for violating T&C. Especially if it's the winning one  :D
IP, geolocation, bank, address, eta.

Also keep in mind the potential taxes on 9k in 'winnings'.

Offline JMHO

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Apr 2020
  • Posts: 1419
  • Total likes: 1241
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: NYC
Just spoke to someone who has been doing this for years. He said he has never had a problem with payout.
CS only started mobile in NY this week and they are very behind in paying out.

Offline Euclid

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Jun 2010
  • Posts: 4913
  • Total likes: 6145
  • DansDeals.com Hat Tips 5
    • View Profile
This thread has the potential for some really bad outcomes.

Offline Barryg

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Nov 2012
  • Posts: 1683
  • Total likes: 63
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: Ohio
do i need to live in NY for this?
No, you physically have to be there in order to log in. VPN don't work.
In the original Reddit post it shows AZ CO IA IN MI NY NJ TN VA WV DC. When you’re saying NY, does that mean any state in this list including NY. Are all other states listed the same physical location rule? (Just trying to get clarification on this)

Offline Fish Tank

  • Dansdeals Platinum Elite + Lifetime Gold Elite
  • ******
  • Join Date: Feb 2012
  • Posts: 875
  • Total likes: 154
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: NJ
Also keep in mind the potential taxes on 9k in 'winnings'.
How do they report the winnings? 1099-misc?

Offline coffeebean

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Feb 2018
  • Posts: 3005
  • Total likes: 818
  • DansDeals.com Hat Tips 10
  • Gender: Male
    • View Profile
This thread has the potential for some really bad outcomes.
Elaborate please

Offline coffeebean

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Feb 2018
  • Posts: 3005
  • Total likes: 818
  • DansDeals.com Hat Tips 10
  • Gender: Male
    • View Profile
CS only started mobile in NY this week and they are very behind in paying out.
Why would opening in NY affect payout?

Offline AsherO

  • Global Moderator
  • Dansdeals Lifetime 30K Presidential Platinum Elite
  • **********
  • Join Date: May 2008
  • Posts: 30535
  • Total likes: 7832
  • DansDeals.com Hat Tips 79
    • View Profile
  • Location: NYC
This thread has the potential for some really bad outcomes.

+1

Elaborate please

People not hedging properly and losing money. People funding via CC and incurring cash advance fees and interest, and/or not getting their payout by the time their bill is due and paying their CC late. That's just a few off the top of my head.
100% of Likes will be donated to support our brothers and sisters in Eretz Yisrael