Time and again, sports bettors neglect to look for ways to minimize an online bookmaker’s advantage. Land-based and online bookmaker’s exist because they have a built in profit mechanism.
Several years ago, a gentleman name Mike Cruickshank came up with a common sense approach to earning bonus offers without having to incur any risk. While online casinos don’t mind giving cash matching bonuses because of excessive rollover requirements, online sports books prefer to require punters to make a wager before a bonus is granted. Hence, Cruickshank developed his “bonus bagging” concept.
Let’s investigate this revolutionary concept and figure out how it works and why it’s worth a try. For clients at http://www.punterslounge.com/, this is exciting information.
What is Bonus Bagging
By definition, bonus bagging is the process of earning a bonus from an online bookmaker without having to incur any real financial risk by doing so. Most welcome offers from top online bookmakers require that the player make a real cash bet prior to earning a free bet bonus based on some percentage of that first bet. There’s risk in doing that since the punter could lose that first bet. When that happens, what’s the value of the free bet bonus? ZERO!. Bonus bagging is a method of offsetting that first bet to remove the risk.
How Bonus Bagging Works
Clearly, a punter should be interested in earning a bonus with little to no risk. In the example that will be provided here, we’ll assume an online bookmaker is offering a free bet bonus of 100% of the punter’s first real cash wager of up to $100. Furthermore, the punter will make a first wager of $100.
The punter will need two betting accounts: the one opened with the online bookmaker and a second with a betting exchange site like Betfair. A betting exchange allows punters to post proposed wagers and act as a bookmaker.
The first thing the punter will need to do is place a wager on a game or match in their new online account. Let’s say they choose to wager on Chelsea at +200 over Manchester United in a Premiere League soccer match. Keep in mind, there are three potential outcomes: Chelsea wins, Manchester United wins or a tie.
Now, the punter goes to their betting exchange account and posts a betting offer of $100 on Chelsea at +190. Once accepted, the punter now has a wager on both sides of the match.
Here’s how the results play out.
Chelsea wins: Player collects $200 from the online bookmaker and pays $190 to the betting exchange punter. Net profit of $10, plus a $100 free bet bonus. NET NET PROFIT $110.
Manchester United wins or a tie: The punter loses $100 to the online bookmaker and collects $95 ($100 minus a 5% commission to the betting exchange site) from the betting exchange punter. Net loss of $5, plus a $100 free bet bonus. NET NET PROFIT $95.00.
As you can see, the risk no matter the outcome of that first bet is ZERO because the free bet bonus is earned and high enough to offset the potential $5 loss under the given scenario. If managed properly, the bonus bagging concept can be used to garner bonuses at any time with little or no risk.