Making bets to minimize risks, while at the same time allowing for maximum returns, are one of the crucial elements any successful gambler needs to have in his arsenal. In a previous post we have covered how to use statistics to minimize your risk, besides from statistics and research there are a number of other tricks a punter can use to minimize their risk.
Below we will cover some of the more commonly used strategies that can be applied to minimize a punters risk, while trying to get the maximum return. This will be a gambling tutorial for all levels thus there is no prerequisites required to continue with this tutorial.
- Take advantage of signup bonuses.
Signup bonuses are given to new users who sign up to a bookmaker(s), while not all bookmakers offer signup bonuses the large majority of bookmakers do offer it. With that being said the nature of signup bonuses varies greatly between bookmakers, both in terms of the signup amount offered, and perhaps more importantly the terms and conditions of the sign up bonus.
- Different Signup Bonuses:
Perhaps the most popular form of signup bonuses offered by bookmakers comes in the form of a matching deposit bonus, this simply means when opening an account with a new bookmaker the bookmaker will match your initial deposit amount.
Matching deposit bonuses varies (greatly) between bookmaker to bookmaker, while some bookmakers will offer you an initial signup bonus which is 100% your initial stake, some bookmakers will go as far as to match your initial deposit stake by up to 300%!
Thus, if you open an account with a bookmaker and deposit $10, your initial signup bonus can give you a starting balance of as high as $30!
While the above does certainly sound more lucrative than your 100% sign up bonus, it is at this point where a punter needs to take note of the “fine print” i.e the terms and conditions of the sign up bonus.
- Terms and conditions of the sign up bonus
Taking note of the terms and conditions which is offered on the signup bonus is very important. The terms and conditions will typically state that – the signup bonus is only considered eligible for withdrawal once the bonus amount has been wagered through “X” number of times, at minimum odds of at least 1.50 per wager.
To put this in layman’s terms – if you are required to wager your signup bonus through 300% at minimum odds of @1.50, and the bonus amount received is $30, you will need to gamble your bonus amount through 3 times, or equating $90, keeping minimum stakes in mind.
While, like all things related to sport gambling, you will need to do research and find out which bookmakers offer the best signup bonuses and terms and conditions, we will recommend a few below:
- Bet365 – Offers a 100% signup bonus, up to a maximum of $100
- Coral will give you £20 free if you open an account and make a deposit of £5, or more.
- Unibet gives you a generous £20 in free bets when you open an account and make your first deposit.
Above are but a few of different matching bets and signup bonuses offered by 3-different bookmakers (see our bookmakers review page for more)
- How can you use signup bonuses to minimize your risk.
The formula for minimizing your risk by making use of a bookmakers sign up bonus, while at the same time offering you the maximum chance on returns is pretty simple. When, as an example, you open an account with Coral you now know you, simply need to deposit £5 to get £20 free.
Thus, if you place a bet on round 3 of the upcoming Six Nations rugby tournament, you deposit £5 but will have £30 in your account (thanks to your initial stake plus bonus). You can now comfortably place a bet of £30 on a match you believe is likely to result in returns (see our rugby betting system for profitable returns) Providing you are correct in your prediction, and you placed a wager on near even odds you will now have around £60 in your account, which will also make it a lot easier to gamble through your initial deposit requirements and ultimately a profit!
The beauty of the above strategy is not only reflected in your returns but perhaps in your losses, we called the above post, how to make bets to minimize risks, and that is truly the case. Considering the above strategy a punter will only have to risk £5 for a potential £60 return!
The above is but one, of many strategies a punter can use in his advantage to give him an edge when it comes to sports betting. Again we stress to research the initial deposit requirements, bonus offer, aswell as the terms and conditions linked to the bonus, to find a bookmaker that bests suits your style of betting.
While we certainly do not recommend opening accounts with different bookmakers only to get a signup bonus, it is always a smart move to have at least 3-different active gambling accounts with different bookmakers, which is important to give a punter the advantage when it comes to line shopping, covered in our next tutorial!Open An Account With Coral
Tagged with: Sports Betting