- Differences between Betting Exchanges and Bookmakers
- Deposit Bonuses and Free Bets
- How to Make Money from Deposit Bonuses with Arbitrage
- The Lay Bet vs. Back Bet Arbitrage Method, step by step
- Examples of the Lay Bet vs. Back Bet Arbitrage Method
- List of ApostaGanha Sponsor Bonus Bets
This article was written “at the request of several families,” excuse me, at the request of many gamblers who want to understand how deposit bonuses and free bets work for those that take advantage of them.
Hunting around for deposit bonuses, provided it is done legally and responsibly, turns out to be one of four ways to win money with sports betting, with the other three beinarbitrage, or trading on sports betting exchanges, and punting, or sports bets with positive expected value.
There is a fifth way to earn money with sports betting, frequently practices in Las Vegas, called “middling,” which in practice, is a form of arbitrage that comes from a hybrid of punting and trading, in which certain bettors take advantage of the movement of lines and total point spreads (handicaps or point disadvantages) in the hope that the end result falls inside the range between the start line and end line or even between the highest and lowest line.
All these forms of gambling have their associated risks, depending on exposure that every bookmaker or “trader” takes, taking advantage of the bookmaker’s creampuff bets, those that seem the least risky and safest. However, you must be careful with the sharing of your personal data, because there are many bookmakers whose legality and authenticity is questionable, and these can be used not only to steal personal identities but also credit card information. It is therefore not surprising that a lot of commercial banks in Portugal on the VISA network simply do not allow credit card transactions for gambling websites.
For those who are better informed, you already know that the year 2009 does not look very promising in economic terms, due to the financial crisis that erupted in the last quarter of 2008 and that was already being predicted by some since the second half of 2007. The Portuguese people have an expression that is well suited to the current economic situation: “necessity sharpens the wit.” And the Chinese have a saying that considers times of crisis to also be opportunities to be seized. In the end, it’s the old story about the glass being half full or half empty …
Many investors ended the year 2008 with their capital or net worth at levels below those recorded in late 2007, yet history says that despite the serious crisis that many people and many civilizations have faced, man has adapted and come out on top. Although playing the stock market and commodities exchanges is not very popular these days, sports betting or sports exchange, as some successful bettors in Las Vegas call them, offers several attractive opportunities to earn money. And this article will show you how you can earn money through bonuses or the teasers of sports bookmakers, through the use of deposits with initial cash bonus of 50% to 100%!
Even for those who like sports betting, “hunting” or “gathering” bookmaker teasers can be a good way to create a good initial gambling bankroll, which is then used intelligently to “fund” your future sports betting, which we hope will always be made with positive expected value, always taking the advantage calculated in your own relatives odds or probabilities for each outcome or event, and then the volume of bits produces a substantial profit at the end of each year or betting season.
2. Differences between Exchanges and Bookmakers
These deals are relatively abundant due to the extremely competitive environment in which bookmakers operate, many of which use multiple offers or teasers to entice new customers. Contrary to what many people believe, when we are betting at regular bookmakers, we are not betting against the bookmaker, but against other punters, and the bookmaker acts as a mere intermediary, charging a commission, which is usually reflected in the lines and odds that each exchange provides.
On the Betfair, betting exchange, punters are set to bet against each other in several markets, through a platform that seeks to match each punter’s back and lay bets, a competitive system in real time watched by traders responsible for the integrity of the various markets in a very transparent way. In moments of relative calm, we can see and understand at certain times where the money goes or what the trend of the odds offered is.
But unlike bookmakers, where you can only bet on each book or market, in the betting exchanges you can also bet against things—the famous lay wagers—thus allowing users to assume the role of oddsmaker or bookie, the gambling agent, whether in all the events available in each book or market, or just a single event. At heart, users assume the responsibility that was previously assumed almost exclusively by bookmakers.
In ordinary bookmakers, not only are you competing against other punters, but you must also take into account how much each bookmaker and every “book” charges in commission, the famous juice or vig/vigorish, which is reflected in prices offered and in some cases may even be higher than the commission charged by Betfair.
You must also understand the reason for the difference in price (odds) between the various bookmakers, in the end, why it is that some take certain positions unlike others, such as better prices for the favorites and worst prices for underdogs, in the case of many bookmakers geared toward a recreational gambling audience.
And we must also take into account the maximum you can bet at each bookmaker for each book or market, since it’s normal that betting limits are lower and tighter at the launch of odds and larger and “stable” hours before the start of games, matches and races, since the bookmakers responsible for each market now have a more informed perception about how they will behave.
Contrary to what you might think, this information is more useful than you might think at first. It allows you to measure how much the best bookmakers are willing to expose themselves at a given point and given line—the famous liability—which allows, for example, for arbs or arbitrage players to orient themselves in terms of the amounts they want to bet, not to mention, of course, the knowledge you must have of the rules for each market taken and/or imposed by each bookmaker.
players to orient themselves in terms of the amounts they want to bet, not to mention, of course, the knowledge you must have of the rules for each market taken and/or imposed by each bookmaker.
You must also remember that there are bookmakers that are clearly geared towards a purely recreational gambling audience, who bet relatively low values with some frequency, often in favor of their favorite teams or ones that are in a rut. On the other hand, some bookmakers are home to the high rollers, the famous whales in Las Vegas, often providing them with high sports betting limits in order to balance their books if their liability is in “danger” and would otherwise be at risk of severe losses. Of course, the successful gamblers in Las Vegas just saw the maximum betting limits reduced, but that’s a story for another day.
And as the more experienced among you may already know, the bookmakers’ profit is generated from commissions, which are generated by the volume of bets made on each book or market. The odds or offer prices, which are always created and modified to split public action equally, wherever possible, and from “preference” in “plus” lines (those with little or no value) for both the favorite and for the underdog. Betting exchanges like Betfair charge a commission of up to 5% of the profit generated by each user, not counting the recent premium rates, which draw many “whale” class punters away from other betting exchanges like Betdaq.
3. Deposit Bonuses and FreeBets
Free bets are usually offered by some bookmakers after an initial bet made of the same value, in some cases receiving one is dependent or conditional on the loss of the first bet. It is therefore recommended for those who want to try to take advantage of free bets to make the first bet at odds above 2.00, so that if you win, you get your profit, which is at least equal to or greater than the previously bet stake. The values of free bets can range from 5 to 20 euros, depending on the offerings from sports bookmakers, and there may be cases where higher levels of free bets are offered.
However, be aware that free bets are, in practice, an offset for the lost initial bet, so the ordinary punter could end up losing money if not for the slight difference between the odds on the lay bet on Betfair and the back bet for the bookmaker will by any commission on profits, which means that free bets are not a viable option to “cash out bonuses without risks.”
Some bookmakers offer either 50% or 100% teaser money for initial deposits, while other bookmakers offer bonuses between 30% and 10%, up to a certain limit. It is recommended to always read the terms and conditions, since those that require multiple bets for the fulfillment of the conditions for awarding bonuses will ultimately not be useful unless the goal is just to take advantage of the deposit bonus and then “forget” that the bookmaker exists.
If you are in the growth phase of your betting bankroll, you should not do it, because otherwise you wind up missing value bet opportunities, thanks to good prices sometimes offered, since there are cases where you can only withdraw winnings after meeting the rules of the bonus. Unless you have some advantage in multiple bets, opening an account and accepting any bonus must therefore be well thought out.
You can take advantage of initial deposit bonuses either by backing the bookmaker, fulfilling the rollover conditions, the famous WR or wagering requirements, established by the bookmakers as a way to prevent possible fraud attempts, such as through arbitrage procedures, which involve both bets against a betting exchange like Betfair as well as best backing the bookmaker in question.
Basically, you choose a market where, for example, laying a bet on the underdog on the betting exchange and backing it at the bookmaker. Ideally, the difference in odds offered in both cases is in our favor. If this is not possible, as in many situations, you “sacrifice” only a small portion of the bonus money, “kindly and graciously offered” by the bookmaker, which if the bets made on them fail, you wind up recouping them. In turn, the betting exchange with the commission on profits also gets its share.
The best choices are undoubtedly the 100% deposit bonus, since these are the ones that offer better value for your money, allowing you to recoup almost all of the bonus, losing only the difference between the odds offered on Betfair and the bookmaker you’re betting at during arbitrage, plus the total commission that you pay to Betfair. You can also use another betting exchange, such as Betdaq; it only depends on the liquidity offered in each market.
4. How to Make Money from Deposit Bonuses with Arbitrage
However as mentioned earlier in this tutorial article, the goal is to obtain income, profits, earnings through the various money-making opportunities that bookmakers offer. And the best way you can do this is to take advantage of the initial deposit bonus, especially the 100% ones, which are real bargains, allowing you to make money for free or almost entirely for free.
I recommend reading the article about the risks of arbitrage in sports betting before moving forward with this method of bonus hunting, particularly those relating to the rules of bookmakers and betting exchanges, and also keep in mind the volatility of the market. I recommend that if you have a preference for one in particular, that you first study it in order to have an idea of how often the lines, odds or prices change on it.
The arbitrage process that is used to make money from the bookmaker teasers involves, as you may have figure out, laying a bet on the betting exchange at odds or price less than one cent at a minimum, the odd share offered by the bookmaker, where opportunity presents itself. However, you can’t always take advantage of this, but the punter may try to place some money on betting exchange, so long as the odds are that this offer is higher than the current odds in favor, but lower than the odds or price for the lay bet, depending on the liquidity and size of the market. You are thus able to obtain a more favorable price and fewer losses in the process.
The biggest drawback of this method is when the lay bet on the betting exchange is lost and the back bet at the bookmaker wins, which means you must repeat the process again. After several arbitrations, this can run through the bonus that you got, a risk that can only be minimized if you proceed as indicated in the preceding paragraph, trying to actively achieve the best possible prices with the aim of reducing overall losses.
5. The Back Bet vs. Lay Bet Arbitrage Method, step by step
The first step is to decide which exchanges you want to bet on, where you have a better advantage and knowledge, preferably with the smallest difference between the lay bet odds on the betting exchange and back bet odds from the bookmaker. You can do this manually or using an odds search robot, like the one available on the ApostaGanha forum. You must find an outcome where the lay bet has a higher value or probability of happening than the back bet, preferably with odds or price advantage. The selection criteria also consider the difference in odds or prices, whose margin or range should be as small as possible, as well as existing liquidity, which you should try to use to you advantage to achieve the best possible price on the lay bet. You should also already have some knowledge of the “intrinsic” movement in the market itself, or its usual behavior, because you must take this into account before you invest, so you won’t be surprised.
The second step is the mathematical or “calculation” of everything, where you do the calculation of gains and losses depending on the stake to be wagered. You must calculate how much you can win on the betting exchange and also how much you can lose, according to the stake you want to wager, and you must do the same for the bookmaker. What you expect to win at the betting exchange is usually lower than the loss you can expect from the bookmaker. The reverse is also likely to be true, because if your pick with the bookmaker wins, the losses on the exchange stakes will be slightly higher. One way to simplify the calculations is to pick odds or prices within the range between 1.90 and 2.10, which allows us to simplify the accounting. You can and should “simulate” the betting exchange. For example, Betfair has an option to do so, and you can see how you win and lose as the lay bet odds go up or down. Once you’ve made your pick, you then make the bets themselves.
The third step is placing the stakes for the lay bet on the betting exchange, preferably in a market with enough liquidity and relative activity for so that the stakes you are are matched. Once this happens, either partially or fully, you move immediately to the next step.
The fourth step is placing the back bet stakes—of equal, similar or equivalent value to the lay bet—with the bookmaker, whose window should obviously be open and ready to make the bet at the same time that the window for the betting exchange is open in your Web browser or in the wagering robot that you are using, like you can do on Betfair , for example.
The reason you should make the lay bet first is that this seeks to ensure that you get an actual match for the bet you lay on the outcome you pick, because betting exchanges like Betfair use a system where you are betting directly against other punters, while with the bookmakers, there is usually an intermediary that accepts or rejects the bet immediately. In the betting exchanges, so long as you ask a different price than is currently being negotiated, it will be placed on the side of back bets or against the side of the lay bets, according to the odds we indicate. Therefore, you can wait a short while or none at all for a match, since there may be a movement in the market such that our odds are not evenly matched, something that can happen in markets with low liquidity or activity …
After we made our back and lay bets, it’s a question of waiting for the final outcome of the event. If the lay bet wins, then you just have to repeat the process if you are trying to move the bookmaker bonus to the betting exchange in installments. If you manage to do it all at once, then you just have to go on to the next bookmaker.
If the lay bet loses, you must note how much you lost, which is reflected in the total bonus “recouped” and you then try again. The hardest part of this procedure is more a matter of picking the right outcome to lay rather than the calculation of the stakes to wager. But for those questions, you can always ask for help on the ApostaGanha forum and post any questions and concerns you want, there will always be someone ready to help you.
6. Examples of the Lay Bet vs. Back Bet Arbitrage Method
This past Thursday, February 19, 2009, another round of the NHL, the U.S. major professional ice hockey league, was held. One of the markets that we could have picked successfully to make a lay bet vs. back bet arbitrage as a way to transfer the initial deposit money plus the bonus offered by the bookmaker to the betting exchange, was that of the 5.5 Total Goals in game between the Philadelphia Flyers and the Buffalo Sabres, which ended with the Flyers’ 6-3 victory over the Sabres.
At Bet365, we had the odds below:
While these were the prices offered on Sportingbet:
On Betfair, if we had wagers 200 euros against Under 5.5 Goals at 2.16 odds, with a total liability of 232 euros, our winnings would have been 190 euros with a loss of EUR 10 due commission deducted by Betfair, since 200 euro back bet would be lost.
If the outcome had been a result of 5 or less goals, then our losses would have been EUR 232 on Betfair, but offset by net profit on the back bet, which would be 210 euros in Sportingbet or 220 euros on Bet365, according to the bonus we wanted to transfer in its entirety. In the end, the loss would have been EUR 12 if the transfer method had failed on Bet365, or 22 euros if the back bet had been placed with Sportingbet .
That same day there were also had two NBA games, the U.S. professional basketball league, whose odds at Bet365and Sportingbet were as follows:
If we picked Total More than 180 points on the backer’s market for in the game between the Detroit Pistons and the San Antonio Spurs, with 1.91 odds at both Bet365 and Sportingbet, the potential profits for a 200 euro stake would be 182 euros. While on Betfair, the lay bet for Total 180.5 points could have two outcomes:
If the lay bet succeeds, witch indeed had success, in fact both teams with title aspirations, the winnings would be 190 euros, with a loss of EUR 10 in commissions in relation to the bonus. If the lay bet had lost, the losses would be 204 euros on Betfair, if the average odds had been 2.02. Running the accounting of what should be and what was, the total damage would be less than 22 euros, which means we must be more cautious in such markets.
Finally, I’ll leave you with an example from the king of sports, football, in this case from the other side of the border, where the Spanish league championship in the First League, in a match between Deportivo La Coruna and Valencia CF, held last Sunday, April 22 February 2009, Bet365 had 2.00 odds and Sportingbet had 1.91 to 2.25 odds for More than 2.25 Goals on the 2.5 Total Goals market. If the game had ended with 3 or more goals scored, with a stake of 200 euros, the profit on Bet365 would be of equal valuewhile on Sportingbet the net profit would be only 182 euros.
On Betfair, the back bet at 2.08 odds with a 200 euros stake would entail a liability of 216 euros. If the odds matched were 2.10, then the liability would increase by more than 4 euros, to 220 euros.
Once the game ended tied at one goal, the lay bet became the winner, and gave a profit of 190 euros. Had it been lost on Betfair, the losses could reach up to 220 euros.