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Posted by: bpb at June 24, 2004, 10:32 am

Topic: (AK teaches whoring) Forum: Bonus Whores

Here's a good concrete example at how you can make some money via arbitrage.

Pinnacle offers a 10% first time deposit bonus with a 3x deposit wagering requirement. That money appears is available for wagering immediately. There are no reloads, and $500 is the maximum bonus allowed.

Bodog offers a 10% first time deposit bonus (20% if you use instant checks ... 10% for Neteller) with a 1x deposit+bonus wagering requirement. There are 10% reloads for instant check deposits, no reloads for Neteller. The money is again available for wagering immediately.

So you deposit $5,000 at Pinnacle (since every good bonus whore maxes out their opportunities). You also deposit $5,000 at Bodog.

Now in each account, you have $5,500. You decide to place some wagers on the MLB moneyline. The max bet at Pinnacle is $10,000. Unfortunately, the max bet per game at Bodog is $1,000. But to simplify this example, lets assume the max bet at Bodog is > $5,500. Let's further assume that you have the good fortune to notice that in the CLE vs BAL game, Pinnacle is offering 2.0 on CLE, while Bodog is offering 2.0 on BAL. So for every dollar bet on CLE, Pinnacle is willing to pay $2 on a win, while for every dollar bet on BAL, Bodog is willing to pay $2 on a win. You have found a truly risk free bet here. So you wager your whole stack at both books on opposing teams.

Now if you win at Pinnacle, you will have $11,000 in your account, but still need to wager an additional $11,000 before withdrawing. If you win at Bodog, happy day, because you have cleared their WR and are free to withdraw for your $1,000 profit.

Now this is a gross simplification, because rarely will you find even lines at separate books on opposing teams. What you will find is something like a 2.09 on team A, vs a 1.91 on team B. You would then put $109.42 on the underdog for every $100 you put on the favorite. Then, if the favorite wins, you get $109.42*1.91 = $209. If the underdog wins, you get $100*2.09 = $209. You lose 42 cents regardless of who wins. But you look to make it up on the deposit bonus.

Then you have the realities of wagering limits. Pinnacle lets you bet up to $10,000 per game. But Bodog limits you to $1,000 per game. Intertops will only let you put $275/game. Each book has its own limits. Sometimes they change based on the action that book is getting. If you've already placed $5,000 on one side, then find out that the 2nd book suddenly has a $500 limit on the other side, you're up shit creek. You better find another book to hedge the rest of your bet before the game goes off the board.

So this deal isn't as easy as it seems. But it can certainly be profitable. I dinked around with it a bit, but wasn't too comfortable with the large bankroll. Pinnacle is by far the best book. Nice bonus + really good moneylines + high wagering limits. I'd easily recomment maxing out the bonus there since you would probably use Pinnacle as your main book, playing it against others to clear their bonuses. But that would require $5,000.

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