What Is Sports Betting Bonus Whoring, Anyway?

Before you start trying your luck at sports betting bonus whoring on sportsbooks, there are a few things you should know. First of all, it is very different from casino versions, although it is rather similar to practicing it in poker, especially in this day and age. Sports betting bonus whoring is similar to poker because it requires skill. In poker, it doesn't matter how good the wagering requirements are - if you're a very bad player, you usually won't come out ahead. The same applies for sportsbooks - even with a 5x rollover requirement, if you're guessing that the Washington Generals are going to beat the Harlem Globetrotters every night, you're going to end up losing money. A regular requirement is a 5x rollover of your initial deposit, plus the bonus. Assuming a house edge of 4.55% and -110 lines, you're actually -EV when it comes to most awards just with the 5x rollover. Based on that, there are three ways to look at this practice.

Sure-Thing Wagers

This applies to stakes where the sportsbook offer expects to lose money to the customer. Examples of these include the options to wager on events like WWE WrestleMania, TV show outcomes, or political events where the outcome is rarely in doubt. These wagers are offered mainly as a reward to the customer - they will have a maximum deposit amount you can risk or win (usually $50) and are more successful for the bookmaker in regard to player retention. Unfortunately, these only come up typically once every 2-3 months, so it can take a long time to roll over your bonus. Also, some sites will have a limited number of days where you can rollover.

Same Game, Different Books

One common practice is to place two bets on the same game, but on different sites (with different sportsbooks). If you are doing this, you are best to arbitrage it - wherever you are getting a better line at one of the sites. Of course, arbitration is a fine art, so don't expect to find easy opportunities these days, but when you do, jump on them fast.

Win More Often

Most of the people who attempt it aren't seasoned bettors, which is why we have this section as a warning. When it comes to American spread wagers, many players don't realize how hard it is to actually win on a regular basis. Assuming a -110 standard juice line, you need to win 52.4% of your stakes to make a profit. A sustainable win rate is in the 57% range, and that sort of win-rate isn't that common. Don't just go on a whim, don't place on teams you like (common mistake) - be objective, do research, and take everything into consideration, or trust someone you know.

Final Advice

Milk the sportsbook for all that they are worth. It's not like poker or a casino, where you basically sign up, deposit and play, and move on. These books offer various specials, from special promotions for reduced lines, so you need to take advantage of as much of it as possible.