Free Money With BowTiedBettor (@BowTiedRebirth after Twitter Rug)
A Follow up on Our 'Free Money in a Recession' Post
We are excited to have BowTiedBettor come in with some additional alfa this week.
His post is going to cover how to take free money from betting sites. Recently a lot of sports betting books launched apps and there were some crazy sign-up bonuses. Bettor is going to show you how to clip those sign-up bonuses risk-free & provide free tools to help you do it.
Add this to your toolbox to add another $g or few to your “free money with a few clicks” bucket.
And if you don’t follow Bettor, you are missing out. We did years of of probability & stats for our career, but this guy knows it like a 2nd language. Impressive stuff.
GM Personal Finance maxis,
Bettor(s) here!
A couple of weeks ago F’er released a post with a list of time-for-money things to do to keep yourself above water and survive the recession. Unfortunately, yet understandably due to its subtle nature, we would argue *the* most efficient & profitable method was left out.
A biased opinion by a team of autistic gamblers, or an obvious fact?
That’s for you to decide after having read the below introduction to the concept.
Bonus rugging
Ever heard of a freebet or any similar betting offer? Of course you have!
However, what you probably have not been told is that they in fact can be very valuable and that this value can be extracted in a risk-free manner by use of some clever mathematics.
Enter bonus rugging. Bonus rugging is a *basic* betting strategy that allows you to benefit from bookmakers’ free bet bonuses, offers and incentives. Unlike traditional betting, where you take on risk trying to predict an outcome, BR cleverly neutralizes all risk by taking advantage of multiple incentives across bookies and hedging all positions by use of counter bets, thereby guaranteeing profit.
The common theme of bookmakers’ welcome offers are that they are intended to acquire new -EV gamblers rather than for you as a customer to “abuse” and make risk-free returns on. Nevertheless, since their marketing departments are not sophisticated enough to distinguish between people who understand what is going on and those who do not, oftentimes there are lots of free money sent your way even if you know what you are doing.
The big picture
First, let’s look at the big picture:
The whole bonus rugging process starts off with a bookmaker/gambling site offering you a freebet/something similar.
You now want to convert the offer into US tokens, and you want to do it without taking on any risk.
Since you have read BowTiedBettor and know that freebets = $’s, you accept the offer and place the freebet with the bookmaker.
To neutralize your position, you visit *another* bookmaker and bet “just the right” amount at “just the right” outcomes.
You are now fully hedged and will collect money no matter the outcome in the game!
How do you find the “just the right”-values? Keep reading!
An example to illustrate the process
Since nothing illustrates a concept better than an example, we shall now proceed by presenting a (hopefully) clear and concise implementation of the method.
In our basic example, we will take advantage of the welcome offer at Unibet and hedge it using DraftKings.
Step 1 - Find a suitable offer
We begin by locating a suitable opportunity. The easiest way to do this is either by visiting our website and investigating the lists of available bookmakers, or by simply searching the web.
In our case Unibet offers to “double your deposit up to 250 USD”. Thus the optimal choice is to deposit 250 $ and receive an additional 250 $ in bonus money, resulting in an account balance of 500 $.
Note: This balance is not withdrawable until fulfillment of the wagering requirements connected to the offering. Wagering requirements reduce the value of the offer but that’s about it, they are in almost all cases ‘soft’ enough if you know what you’re doing.
Step 2 - Place a qualifying (back) bet
When placing our qualifying bet we are looking for a market where the odds at Unibet and DraftKings are “good enough”, simply to avoid paying high friction costs. Details on this part of the process can be found in our material.
At the time of writing, we have found that the moneyline market in the football matchup San Francisco 49ers @ Atlanta Falcons [San Francisco 1.49 (-205) at DraftKings, Atlanta 2.85 (+185) at Unibet] offers a decent take for our purposes. Hence, to complete step 2, we wager our full Unibet account balance of 500 $ (note the extra 250 $ we’ve received) on Atlanta Falcons at 2.85.
Step 3 - Place a hedge/counter bet at DraftKings to neutralize the position
In order to hedge our current 500 $ Atlanta Falcons position we have to get money down on the other outcome, something that can be done by betting “just the right” amount on San Francisco 49ers. To find this amount, we navigate to our website and feed the Qualifying Bet Calculator (there are calculator available for any kind of offer) the information for our unhedged bet. The calculator then performs a computation and returns the below output.
We proceed by navigating to DraftKings, deposit 956 $ and finalize step 3 by placing the recommended bet of 956 $ on San Francisco 49ers at an odds of 1.49.
Step 4 - Post-game
As the game ends there are now two possible scenarios.
Case 1: San Francisco 49ers wins the game.
We now possess 0 $ on our Unibet account and 1,422 $ (956 × 1.49) on our DraftKings account, funds that are withdrawable since we have not utilized any bonus offer at DraftKings.
Net profit = ,422 $ - 250 $ (Unibet deposit) - 956 $ (DraftKings deposit) = 216 $. Not bad for ~ 20 minutes of work.
Case 2: Atlanta Falcons wins the game. We have 2.85 × 500 = 1,425 $ on our Unibet account and 0 $ on our DraftKings account. The funds on our Unibet account are not yet withdrawable and a portion of them need to be wagered a second time. Unibet has a rollover requirement of 4 × the bonus amount [1,000 $], meaning that in order to request withdrawals we would need to bet another 500 $ to meet the required 1,000 $ threshold.
Net profit: No profit *yet* since a second bet is necessary. However, since our Unibet balance is 1,425 $ and our deposits amount to 1,206 $ → currently +219 $, we can expect something along the lines of 180-190 $ in net profit after the next bet has been settled (we just repeat the same thing again by placing another 500 $ qualifying bet).
Step 5
Repeat step 1-4 until no more offers are available anywhere.
A couple of notes
The process presented here (making use of a qualifying bet + restricting yourself to one offer at a time) is the simplest possible version of the scheme. Discussions on more involved offers/topics/methods as well as more detailed guides are available on our Substack.
All tools (calculators etc) necessary for successful execution are accessible on our Substack + website + Twitter.
As you may have noticed, the method requires some liquidity (in our case ~ 1,500 - 2,000 dollars) to be able to execute smoothly. However, we recommend you to start off with the smallest offers (< 100 $) and work your way towards the larger bonuses. This way you minimize the amount of cash you need at the beginning and if you do some stupid rookie mistake (won’t happen if you read our material thoroughly) you will not lose much.
If you are new to betting (i.e. not registered with any/many bookmakers) and you are from a state where online sports betting is legal, you can expect to make ~ 5,000 $’s solely from the sign-up offers.
Furthermore, reload bonuses/offers are a popular marketing tool targeted at existing customers. By continually taking advantage of them you will lock in another 1,000 - 1,500 $’s in monthly recurring revenue.
These kinds of propositions tend to range between 80 $ and 800 $ in value post ‘fees’, while requiring ~ 30 minutes of your time.
Lastly, everyone should know at least 1-2 persons (mom, dad, wife (can’t live together though, bookies commonly restrict their offers to one per household), girlfriend, homeless friend … ) who will be happy to let you do the same on their accounts and share the profits.
Conclusion
We are hopeful we have been able to convey the idea at this point!
As you all notice this scheme is *very straightforward* and since you are on this side of the web we are confident you will figure everything out after some reading and thinking. Nonetheless we do realize that new ideas often cause confusion initially and if you feel disoriented right now, do not worry, that is completely normal. To fully grasp the concept one indeed must spend some time with it.
If you have any specific questions, please do not be afraid of asking them either in the comments section below, on Twitter or in our Discord server.
Thanks,
BowTiedBettor
If this post has made you curious and you want to learn more, we would suggest you continue your reading with this post (you will notice some similarities, heh) and follow the recommended route presented at the end of it.
F’er back. Great post by Bettor & big thanks for him writing it up. His site makes it easy to clip the free money by hedging free bets.
Like all things, start small and slow and get the hang of it. It is fairly simple, with his resources.
We will have a paid post later this week with a different $3k a year potential ‘free’ money benefit that tons of W2 workers miss. You can thank a senior at our company for having the convo that spurred us to realize how little people know about this benefit.
Good Luck Anon
This is great advice for a betting novice like me, thank you!
Love this series you guys are doing, thank you!