When visiting (and wagering) at casinos throughout North America, one of the many perks is the specials offered by each individual venue to entice you to enjoy the total entertainment package their casino rather than that of the competition.
Indeed, “comps” (complimentary) such as free dining at an in-house restaurant or buffet, room-nights, show tickets and much more, can be a welcome “value-added” incentive/benefit for your entertainment dollar. These should all be considered just as valuable as cash discounts for those playing at high limits — many times, high-end gamblers (aka “whales”) can receive upwards of a 15-percent rebate on losses of $100,000.or more.
Since you and I are not probably on the “whale” category with our own casino host or personal concierge, we need to determine ways to extend our incentives to the max. Here is one for sports gamblers.
By registering to join DraftKings in New Jersey – for a limited time – the sportsbook is willing to match your first bet up to $500.
Let’s do the math:
You wager $500 on Team A and the book matches it for a total bet of $1,000.
Should Team! wins, you receive $1,409 ($909 in winnings, plus your original bet of $500; you do not get back the comp amount of $500).
Should Team B win, you only lose $500.
It’s a nice all-or-nothing marketing scenario by the casino, but the player is at risk to lose. However, what if there was a way for the public to lock in a profit — yes, a guaranteed win — and not sweat the actual game results.
Do the same as the casino wants and bet your $500 as we just described, giving you a total $1,000 wager utilizing the book’s incentive program. Then do one other thing — hedge!
That’s right. Go the other way and wager on the opposing side (both at -110), too.
Here are the results:
-Initial bet of $500 + casino comp of $500 = return of $1,409 ($909 in winnings, plus return of your original $500 investment, Then…
-Make your hedge bet of $770 = return of $1,470 ($700 in winnings, plus the return of your original $770 investment),
The grand result: Your total outlay covering both wagers is $1,270, but your return is more than $1,400 — a profit!
To make things as close to 50/50 as possible, let’s increase the first bet by $33 to $533. Now look at the results,
-Initial bet of $533 + casino comp of $500 = return of $1,472 ($939 in winnings, plus return of your original $533 investment,
-Again, the hedge wager is $770 for a total return of $1,470 (the $700 win, plus the return of the original stake).
Ignoring the $2 difference, your total outlay is $1,303. Your total return is $1,470 (no matter which side wins). Thus, you just earned a guaranteed profit of $167 or almost exactly 13 percent
And Merry Christmas to you, too.
A fine print from the casino” First bet matched up to $500. Free bet must be used within 30 days of the first bet. The free bet amount is not included in any returns or winnings. Free bet is also not redeemable for cash, non-transferable, and non-refundable. Promo ends 7/31/19.
Of course, the offer is subject to change, so hurry up!