Sportsbook Bonuses- Specific Examples

Arbitrage with Sportsbook Bonuses – Specific Concepts and Examples

Basic example of sportsbook arbitrage using a sportsbook bonus

Now that you have the basics, you are ready to start your first bonus. Let’s say you start with Sportsbook A. Sportsbook A is offering a 25 percent cash bonus on a $1,000 deposit. In their terms, it states you must wager your deposit and bonus 4 times before requesting a withdrawal. In this case, you would have to wager ($1,000+$250)*4 equals $5,000 before you can request a withdrawal. You deposit $1,000 and now have $1,250.

You decide to use matchbook for your book to cover your bets with, deposit $1,250 here and get 2 weeks free of commission. Next, bring up the betting menus at each site. Now look for games where the lines are nearly identical. Let’s say the best possible line you find is the NY vs. Cleveland game point spread. You find NY +5 at Sportsbook A with a -110 line. You find Clev -5 with a +109 line at Matchbook. The negative line is larger than the positive line so this is not a positive arb. However, this is still okay if this is the best available bet.

So, let’s wager all $1,250 on NY +5 (-110) at Sportsbook A. You would be wagering $1,250 to win $1,136 ($1,250 divided by 1.1). Now, take whatever value Sportsbook A gives you for the win amount and plug that into the “risk” amount at Matchbook (MB). Risking $1,136 on Clev -5 +109 at MB will win $1,238 ($1,136 multiplied by 1.09).

If NY covers, you would now have $2,386 in Sportsbook A. You lost $1,136 at MB and deposited $1,000 at Sportsbook A for a total of $2,136. $2,386 minus $2,136 equals $250, so you still have the $250 bonus and cleared 25 percent of the rollover requirement. You would then try another arb for your whole balance (if possible because most sites have betting limits) or until you bust out or finish the rollover requirement.

If Cleveland covers, you would now have $2,374 from the winning bet plus the $114 you didn’t use from your deposit in MB for a total of $2,488. You lost $1,000 of your own money at Sportsbook A and deposited $1,250 for a total deposit of $2,250. Therefore, your net gain is $2,488 minus $2,250 equals $238 profit! You busted out all your money at Sportbook A, so you no longer have to finish the rollover requirement and you can withdrawal your money from MB free of charge whenever you wish. You can now move on to a new bonus.

Generally, you don’t want to pay more than -3c for your arb (ex.- +107/-110) because 95 percent of the time you will find something as good or better than -3c. If you can’t find a good arb, maybe wait a couple hours and come back and check again. You could wait around all day to find a +1c arb, but unless you have that kind of time, just place the small negative arb. This way you clear out your bonuses faster and can move on to new ones without this taking up all of your time.

So what books can you use to cover the odds side of your bets from the bonus sportsbooks?

Generally, you will use Matchbook and Pinnacle. Both offer great rates and both have positives and negatives. I highly recommend using both because it almost doubles your chance of finding a good arb.

What bonus sportsbooks should you use?

There are many sportsbook scam sites out there. The most important part of sportsbook bonus arbitrage is to avoid the books that will steal your money. Out of the hundreds and hundreds of sportsbooks online, only about 20 or so are safe and trusted places to play. I have used the recommendations from this site for deciding where to play in the past:

Open to US players and outside US- US Friendly Sportsbooks

Not open to US players- Sportsbook Bonuses

What are my personal recommendations?

I recommend signing up at the following books to get started:

Matchbook

PinnacleSports


If you have a question not covered or are looking for personalized coaching:

You can reach me at bonuscoach@yahoo.com

I do offer help through your first couple of bonuses. In return, I ask that you credit me with the referral with the sportsbooks' refer a friend programs.