Considering the fierce competition between sports betting operators nowadays, it stands to reason that the best brands come up with all kinds of promotional offers to entice new customers and retain existing ones. Odds boosts are one such popular approach used by bookies to attract more betting action.
Enhanced odds are sportsbook promotions that feature better prices on select markets. The more promotional offers a bookie puts forward, the more new customers and current patrons it is likely to engage in betting. Enhanced offers vary across the different bookmakers and each one has specific terms and conditions, which should be observed. To make sense of the odds boosts’ value, bettors should have a clear idea of what a bookmaker’s profit margin is.
Football matches from the world’s high-ranking leagues usually offer prime conditions for odds boosts due to their immense popularity among sports betting fans. In view of the great abundance of enhanced offers available within the football betting market, it may not be easy to figure out which ones are right for you. Therefore, this article may be helpful when it comes to identifying the most suitable promos, as well as their proper exploitation.
Bookies’ Profit Margin and the Way Odds Boosts Work
Both brick-and-mortar and virtual bookmakers make their profit by building a profit margin into the odds they offer. It is also referred to as vig, vigorish, and overround. The standard profit margin of bookmakers varies between 5% and 6%. When an odds boost is on offer, sportsbooks increase payouts and reduce the overall vig.
Below is an example of a sportsbook promotion and how odds change in favor of bettors for a couple of betting markets from a single football match from the English Premier League, Newcastle United vs Wolverhampton Wanderers.
|English Premier League|
Newcastle United vs Wolverhampton Wanderers
|Bet Market||Original Odds||Odds Boost|
|Half-time/Full-time Newcastle United/Newcastle United||3.75||4.33|
|First Goalscorer Chris Wood||6||7.00|
|To Score at Any Time Fabio Silva||3.6||4.00|
|Correct Score Wolverhampton 2-0||19||21.00|
While we see that prices are considerably more favorable for punters as a result of the odds boost promotion, the sportsbook still holds an advantage, although its expected profit is reduced.
Odds boost promotions typically work in a pretty straightforward manner and their navigation is quite user-friendly. As a first step, bettors should log into the sportsbook and identify the markets where odds boost offers are available. Once they select a particular football league, they may browse through the available sports events. Odds Boost offers are typically indicated with some sort of label, and their original price is also shown. Thus bettors can compare the original market price with the enhanced value that they receive. As a final step, they should add the selection to their bet slip and stake a certain amount.
Terms and Conditions
Much like the other promotional offers that sportsbooks put forward, odds boosts have their terms and conditions. As advantageous as they may seem, punters should not forget to read the fine print. Here are some of the most commonly met terms and conditions attached to enhanced odds offers:
|Minimum stake||Typically, bookmakers set a minimum amount for the stakes, which in turn reduces bettors’ expected profit.|
|Maximum stake||The same holds true for the maximum allowable stake. This is done to protect the bookie from having to pay out large amounts of money on positive expected value bets.|
|Limited timeframe||These promo offers are usually available for selected upcoming sports events, and consequently, if they are worth placing, you should take advantage of them while still available.|
|Rollover requirements||Some of the offers have rollover requirements, i.e. the funds earned through odds boosts must be wagered several times before they can be withdrawn.|
It is worth noting that terms and conditions attached to odds boost offers vary across the different operators. That is why it is of essential importance for bettors to read them and decide if the bets are worth placing and if their conditions are viable.
Tips for Odds Boost Exploitation
By making use of odds boost promotions, bettors are getting better returns on their winning bets. However, they can extract even better value from such offers if they follow several important tips:
- Bettors are advised to sign up with several online bookmakers. Thus, they will be able to compare a greater range of price boosts offers and select the most lucrative ones.
- Some bookies are more flexible when it comes to the conditions of their odds boost offers. Take time to research the market, as there are operators who offer to match prices from other bookmakers. There are also bookies who reserve their odds boosts only for new customers, leaving out existing ones.
- As already mentioned, the terms and conditions accompanying odds boost offers should be carefully considered, to avoid potential unfavorable situations.
- Bookmakers usually attach odds boosts to standard match bets, Over/Under, Correct Score, and Goalscorer markets, among others. However, it is not uncommon to see such offers applied to accumulator bets as well. As punters most probably know, accumulator bets involve combining multiple bets into a single ticket, thus creating the probability of quite substantial payouts on account of the greater risk involved. The odds boost offers further enhance the payout of the accumulators, but the risk associated with them should be carefully considered.
- Bettors should differentiate between enhanced odds as a Welcome offer and daily odds boosts. The first ones are designed for newly-registered customers of sportsbooks. The second ones are offered by some bookmakers and are an excellent way to enjoy better prices on particular markets every day.
- Bettors may use certain price boost offers for their arbitrage and matched bets. Arbitrage betting opportunities arise when bettors spot differences in market prices across bookmakers, and price boost offers oftentimes lead to a substantial increase in odds. To properly take advantage of the arbitrage betting opportunity, punters should figure out the distribution of their total stake across the two bookies, as well as the profit they stand to make.Matched betting requires taking advantage of the promotional offer, while simultaneously laying the selection at a betting exchange. Either way, the combination of price boost offers with arbitrage betting or matched betting can be very lucrative.
- Some price boost offers have a Cash-out feature. Bettors can cash out a bet at an advantageous moment, and consequently enjoy better payouts or reduce their losses.
- Essentially, odds boosts allow bettors to gain more profit from bets with the same degree of risk involved. Bookmakers typically offer promotions featuring from 10% to 40% increased value of odds, while others go as far as doubling the original market prices. However, bettors should be aware that there are many odds boost promotions, which may look great, but the markets are highly unlikely to bring any success.The reason why sportsbooks typically cap the maximum amount of stakes that are placed on odds boosts offers is to reduce the amount of money paid out to positive expected value bets, i.e. bets whose expected value is greater than 0%.
Much like free bets, odds boosts become an increasingly popular way of attracting new customers. Enhanced odds can be utilized for the purposes of arbitrage and matched betting football systems, as they typically represent good value bets. They also have the potential to increase punters’ winnings from accumulator bets substantially. As all bettors are normally looking for good value bets, odds boosts may be the perfect tool to improve your overall betting performance.