[PSA: Gambling Is Risky And Addictive] Sports Betting Account Signup Bonuses

[benny120]

One thing I don't understand is if "7a). THE MONEY IS TAKEN FROM YOUR REAL CASH FIRST FOR WAGERS. NOT BONUS CASH", then why is the bonus cash available for withdrawal right after the game if you've never betted with the bonus cash?

They will show your cash balance as zero and your bonus balance at $3300, but in reality as long as you place a total of $3300 in bets, you're good to go as you've bet through the entire bonus amount.

[benny120]

Not sure where to start with this potential train wreck.

Never hedge using the same SB (sports book) no matter how smart you think you are.

By using 2 or more different SB's you have three possible outcomes when hedging. If you don't understand this basic principle, then you are not ready.
Win one, lose one, tie both - Line the same
Win one, tie one - Line different by .5 or more
Win both - Line different by 1 or more

Place many bets over time and not one and done. There are a ton of SB's out there. You will keep getting offers from them.

I'm not sure what you mean.
If you bet both sides on a game that has a point spread of 3.5 for example, you will absolutely win one and lose one, as the team will either win by 3.5 points or more or not win by that margin (or lose).

[coffeebean]

They will show your cash balance as zero and your bonus balance at $3300, but in eality as long as you place a total of $3300 in bets, you're good to go as you've bet through the entire bonus amount.

Got it so it seems that $9k is taxable because the money you're withdrawing from the losing account is bonus $.

[R.A.T.]

I'm not sure what you mean.
If you bet both sides on a game that has a point spread of 3.5 for example, you will absolutely win one and lose one, as the team will either win by 3.5 points or more or not win by that margin (or lose).

This is why you use two different SB's.
Right now on two different major SB's KC is -1 1/2 and -2.
How would you bet this and what is the possible outcomes?

[benny120]

Got it so it seems that $9k is taxable because the money you're withdrawing from the losing account is bonus $.

Only $6.3k is taxable, as you will have bet winnings of $3k on one sports book depending on which bet wins, and $3.3k bonus on Ceasers.
It's possible that if you itemize deductions you can deduct the $3k that you lost against the $3.3k bonus, but that depends whether the bonus is classified as gambling winnings or as misc. income.

[benny120]

This is why you use two different SB's.
Right now on two different major SB's KC is -1 1/2 and -2.
How would you bet this and what is the possible outcomes?

That's why you have to know what you're doing and choose two sportsbooks that have the same spread on any given game.
Just briefly looking at Ceasers and MGM I see that the spreads are exactly the same on all 4 NFL games this weekend. So if you picked team A on CSZ and team B on MGM you're guaranteed to win one bet and lose the other i.e. breakeven on your 3k bet, while becoming eligible to withdraw the $3300 bonus from CSZ.

[benny120]

Ooof a bit too complicated for me. Why not just win one lose one?

Really not complicated at all. You can place two bets on two different sportsbooks where one is guaranteed to lose and one is guaranteed to win.

[coffeebean]

Really not complicated at all. You can place two bets on two different sportsbooks where one is guaranteed to lose and one is guaranteed to win.

What's wrong with an 1 over/under bet on each account?

[coffeebean]

Betting and hedging 2 accounts both @ -110 is 100% odds of getting about 90% of your bet back. Is it possible to get better odds?

[S209]

Betting and hedging 2 accounts both @ -110 is 100% odds of getting about 90% of your bet back. Is it possible to get better odds?

What about in the event of a push?

[R.A.T.]

That's why you have to know what you're doing and choose two sportsbooks that have the same spread on any given game.
Just briefly looking at Ceasers and MGM I see that the spreads are exactly the same on all 4 NFL games this weekend. So if you picked team A on CSZ and team B on MGM you're guaranteed to win one bet and lose the other i.e. breakeven on your 3k bet, while becoming eligible to withdraw the $3300 bonus from CSZ.

Really not complicated at all. You can place two bets on two different sportsbooks where one is guaranteed to lose and one is guaranteed to win.

Not correct.

You want to find lines that are different so you have a chance to win both or win one and tie one.

Look at the spreads on the NY/NO game and tell how you would bet it to give yourself the possibility of winning both bets?
https://www.oddsshark.com/nba/odds

[R.A.T.]

Betting and hedging 2 accounts both @ -110 is 100% odds of getting about 90% of your bet back. Is it possible to get better odds?

Look at the spreads on the NY/NO game and tell how you would bet it to give yourself the possibility of winning both bets?
https://www.oddsshark.com/nba/odds

Bet NY at -3.5 and NO at +4.5
If NY wins by 4 you win both bets, if not you win one and lose one.

[coffeebean]

What about in the event of a push?

Bet again?

[R.A.T.]

Of course there are other risks with this promo, but as far as hedging goes it's pretty straightforward.

You are not understanding hedging. What I showed you does exactly what you are saying but also gives you the chance to win both bets as an added benefit. This is how you properly hedge.

[R.A.T.]

What about in the event of a push?

Bet again?

One option is don't bet whole number spreads.

[benny120]

Not correct.

You want to find lines that are different so you have a chance to win both or win one and tie one.

Look at the spreads on the NY/NO game and tell how you would bet it to give yourself the possibility of winning both bets?
https://www.oddsshark.com/nba/odds

Of course you would love to be able to win both bets, but that's a remote possibility and usually it's hard to find such bets. It's called middling and is hard to find and rare to happen, it's also complicated for inexperienced bettors.
In your initial comment you made hedging sound very complicated, when in reality you can lock up 3k in guaranteed profit by simply betting two opposite sides on two different sportbooks.

[benny120]

You are not understanding hedging. What I showed you does exactly what you are saying but also gives you the chance to win both bets as an added benefit. This is how you properly hedge.

In the case of bonus match this is hedging because I'm guaranteed to win 90% of my bonus money, with zero risk of losing it. You're talking about the next level where you're adding a chance of winning both bets, but that's not typically called hedging.

[R.A.T.]

Of course you would love to be able to win both bets, but that's a remote possibility and usually it's hard to find such bets. It's called middling and is hard to find and rare to happen, it's also complicated for inexperienced bettors.
In your initial comment you made hedging sound very complicated, when in reality you can lock up 3k in guaranteed profit by simply betting two opposite sides on two different sportbooks.

Every night I can find a couple of lines that are different. Leaving the possibility of that profit on the table makes no sense.

Teaching someone how to bet A at -4 and B at +4 is no different that teaching them to bet A at -3.5 and B at +4.5

[benny120]

Betting and hedging 2 accounts both @ -110 is 100% odds of getting about 90% of your bet back. Is it possible to get better odds?

It's possible but it takes work finding them. There are websites that give you such bet opportunities but they cost money.
Check out https://oddsjam.com/low-hold
You can sign up for a free 7 day trial.

[R.A.T.]

In the case of bonus match this is hedging because I'm guaranteed to win 90% of my bonus money, with zero risk of losing it. You're talking about the next level where you're adding a chance of winning both bets, but that's not typically called hedging.

What I showed you is exactly the same with the added benefit of winning both bets. You are stilled guaranteed to win 90% with a chance to double that. The method is the same. We will call it hedging with the possibility of an extra 100% payout? 

Either way I wish you all the best of luck!