Sportsbook Rollover Bonus Strategy – Underlay Betting

sportsbook rollover strategy feature image

Estimated Reading Time: 12 minutes

No need to struggle with completing sportsbook bonus with Rollover Requirements, use Underlay Technique to maximize your profits!!

The “Show” box underneath displays Full Contents & Jump Links for your convenience.

What’s Sportsbook Rollover Bonus?

How does rollover bonus work?

Rollover Bonus Offer is a Stake Returned bonus provided by sportsbook, which you are required to wager a certain volume of bets before the bonus is turned into withdrawable cash. Rollover requirement is also often called WR (Wager Requirement, this term is more popular in casino bonus) and expressed as X3 (means you need to wager 3 times of your bonus or bonus + your original deposit).

This type of bonus (available both welcome & reload bonuses) are popular in continental Europe & Caribbean bookies with the following examples;

Europe

bwin Welcome offer (this is for Germany, Austria Liechtenstein or Luxembourg market) of “Get 100% Deposit Bonus up to €100";oddshero bwin welcome offer

T&C (Terms & Conditions) shows “The bonus and the first deposit amount must be wagered at least 3 times" as below;oddshero bwin offer t and c

We list a few more example offers in 5 Types Of Bookmakers’ Matched Betting Sign Up Offers.

Caribbean

Betonline welcome offer “Get 100% Cryptocurrency Deposit Bonus up to $1,000";betonline rollover bonus

T&C (Terms & Conditions) shows “The bonus amount must be wagered 14 times" as below;betonline rollover bonus t and c

You may want to see the world best rating bookies’ offers (many are located in Caribbean region) in this list, which includes Bookmaker.eu & Intertops and more. 

UK & Ireland

Rollover bonus is not popular in UK & Ireland, Bet365 used to provide “Open an account, deposit £10 or more and you will qualify for a 100% matched amount as a bonus to bet with, up to a maximum of £200″ which requires x3 roll over of the deposit + bonus;Bet365 100% Matching Sports Deposit Bonus

 

The Process of Extracting Cash from Rollover Bonus

Rollover Bonus Strategy

We use matched betting as the underlying concept to cash out the bookmaker’s bonus risk free, just in case you’re not familiar with this method, suggest take a look at Matched Betting For Dummies.

The problem of the rollover is that rollover bet eats into your profit. So as the general strategy to minimise time while maximising profits, we should to try and lose our bookmaker cash & bonus balance as quickly as possible and therefore effectively transferring the balances into your betting exchange.

With hefty rollover requirements, bookmakers anticipate customers to lose all bonus & possibly deposit as well before completing the rollover. Yes, most of the casual punters meet bookies’ such expectation. However, for The Sharp including matched bettors, it’s a very juicy opportunity to secure guaranteed profit. Importantly, we can make it easy.

On top of this overall strategy, we use Underlay method which will see later. 

BTW, many people imagine matched betting is for only UK & Ireland, wrong, by using this approach everybody in the world including US citizens (yes, you can take the above Betonline bonus & use matched betting) can make decent profits from this risk-free betting technique, just FYI.

Rollover Bonus – Standard Matched Betting Process

We use the above Bet365 old offer because it was a typical rollover bonus and the process we explain here can apply to almost all rollover bonuses you will find in Europe & Caribbean regions. 

Some of the Terms you need to pay attention are; 

  • Your qualifying deposit is your largest deposit (capped at £200) you placed in the 7 days prior to you claiming your offer.
  • Deposits made using NETeller, Skrill or Skrill 1-Tap will not count as your qualifying deposit.
  • You must claim your offer within 7 days of making your qualifying deposit.
  • You must have settled bets to the value of three times your qualifying deposit (capped at £200) and bonus before making a withdrawal.
  • Any single bets placed at odds of less than 1/2 (1.50) will not count towards any turnover requirement.
  • You have to complete the turnover requirement within 90 days of claiming your offer.

So, the process of matched betting are;

  • Assuming you deposit £200 to Bet365, then £200 bonus will be credited into your Bet365 account. In order to withdraw your bonus, you need to wager £400 (deposit + bonus) x 3 = £1,200
  • There are 2 transactions involved. Since you have only £400 in your account, 1 transaction is Back (bet on win) £400 on any sports event with over 1.5 odds at Bet365 & Lay (bet on NOT win) appropriate stake £ at Betting Exchange like Betfair so that you cover all outcomes (if no betting exchange is available in your country, you can back on the opposite outcome(s) in other bookmaker(s), which is called Dutching method).
  • Regardless of the outcome, your losing & winning will cancel out each other. In the real practice, usually, 2 bets are not perfectly offset due to the odds difference & exchange commission. Therefore you make a small loss called Qualifying Loss.
  • If your bet loses at Bet365, then your Rollover Requirement is completed and at this stage you successfully cashed out £200 bonus (minus small loss depending on the odds) to bet exchange or other bookmaker(s) called “Covered Bookmaker(s)".
  • If you win at Bet365, then you need to repeat exactly the same process until you complete £1,200 wager requirement or your balance becomes 0 at bwin. 
  • Remember, key success factor is how to minimize the qualifying loss by identifying the narrowest odds between bwin and betting exchange etc. during the entire process.

As said, you can use Dutching method if your country can’t access to any major 4 betting exchanges, however, alternatively, use this method, which enables you to access to Betfair market, just FYI. 

Summary

The simplest & best way is placing all the £400 at once and hope you will lose the entire £400 in Bet 365 and win in Exchange. Because once your balance becomes 0 in Bet 365, you’re finished. No more rollover (don’t worry you win the equivalent amount in your exchange since it’s matched betting). However, things don’t always go like this. Often you win in Bet 365. Then you have to complete the full £1,200 rollover or until the time you lose the entire balance in Bet365. Theoretically, the more you progress WR, the more you lose your bonus. Because unless you find arbitrage opportunity (the back odds is higher than lay odds), you will make a marginal loss every qualifying bet you place. Is there any way to make the situation better if your bet wins in Bet 365? Here comes the Underlay.

Rollover Bonus – Underlay Matched Betting Process

Let’s continue to use Bet365 example to explain the exact benefits of Underlay. Firstly, assuming we find the event of odds of 2.0 at Bet365 and 2.1 at Betfair.  And bet the entire £400 for the first bet at 2.0 odds with £390 lay which is the amount we need to lay at the 2.1 odds of exchange. You can get it in Free Matched Betting Calculator as below; Matched Betting Calculator Then, we lose a bit less than £30, the below image shows the lower part of the above calculator; Matched Betting Underlaying Calculation So, if you’re lucky, you win at Betfair and lose at Bet365 so that your balance at Bet365 becomes 0 and WR is completed with successful £170 pure profit (£200 bonus – £30 loss). However, if your bet wins you need to start wagering the balance of £800. Assuming we bet £100 x 8 bets with the same odds combination of 2.0 at Bet365 & 2.1 at Betfair, we will lose nearly £60 (£7.32 loss per£100 stake as shown in the below calculator x 8 bets). So combining the initial loss of £30, the total loss will be £90 which is nearly half of the bonus. Betting Signup Offers Matched Betting Underlay Calculation

Underlay Scenario 1

So, how can we make this situation improve with the underlay? As you must already notice, the calculator shows both Underlay & Overlay. Let’s start up with the initial £400 bet. This time, we only lay £363.64 (underlay) rather than £390. Why £363.64? Because this is the point we don’t lose when bookmaker wins as seen in the below calculator; Betting Signup Offers Matched Betting Underlay Calculator 2 If the bet wins at the bookie we still have £800 balance and lose around £60 in the course of WR. But that’s it because we don’t lose in the first bet. If the bet wins at the exchange, no more WR, we lose £55 that’s bigger than £30. Well, what do you say? Compared with the original approach of just expecting the Bet365 bet to lose (this is a gambling) we can lock-in the better equal profit of £140 – £145.

Underlay Scenario 2

Further Underlaying Let’s examine what happens if we underlay even more. Taking the same £400 back bet at odds of 2.0 and again having lay odds of 2.1, this time we’ll only lay £350, Matched Betting Underlay Final Calculation Now, I don’t need to explain details. You will finish WR with the loss of £67 or have an £800 balance with £15 profit, means you will lose total £45 (£60 anticipated loss – £15 profit). In this case, the profit would be between £133 – £155. In fact, there is not so much difference between the 2 scenarios.  I just want to demonstrate how the underly works. You may adjust the level of underlay you feel comfortable, or depending on the odds. If the odds are quite short such as 1.2 – 1.6 (Bet365 sets minimum odds at 1.5 for WR) means the probability of winning at bookmaker is high. Then, you may maximize the underlay. However if  the odds is relatively high like 3.0 over, then you may take modest underlay. Don’t forget, the basic rule is finding the odds as short as possible for qualifying bet mainly because you tend to find narrower odds & can minimize lay liability.

Anyhow, you can use underlay like the way you have seen.

Sportsbook Rollover Bonus Strategy Wrap Up

Advantage Play

Lastly, allow us to share a bit about our betting principle. We never gamble which we define “Count On Chance". Our aim of playing Sports Betting is to create solid Extra Money based on 6 Advantage Plays by making the best use of mathematical edge to beat the bookies, casino & bingo. When it comes to Sports Betting, we use Matched Betting / Sports Arbitrage / Value Bets On Proven Tipsters to lock-in profit or consistently earn extra income for long-term.

With that said, one of our policies is “Betting On Luck Is For Losers, Stop Gamble Betting But Bet on Only +EV (Expected Value) To Win Reliably“. It is effectively our way to promote Responsible Gambling. And we strongly support GamCare being explained in about us.

We would like all our readers to get maximum return from bookmakers’ every offer. Providing the step-by-step instruction on how to extract sportsbook rollover bonus in this guide is one of our efforts to achieve that objectives.

International Players

BTW, rollover bonuses are popular in worldwide, so the underlying concept & tactics we explained in this guide should apply to any similar offers in the other countries. In fact, as our name GEM – Global Extra Money implies, we would like all visitors from anywhere in the world to exploit advantage plays. With that vision, we have issued :

In Short, except 8 Countries (Cyprus, Poland, North Korea, United Arab Emirates, Singapore, Brunei, Cambodia) where on-line gamble is legally prohibited, all of you can make profit from matched betting, see the above report for full details.

 

If you need any assistance from me, don’t hesitate to contact

Joshua Walker (bio

Editor – Global Extra Money (GEM)

 


Just in case, you have not accessed to the below Free Program, suggest Do It Now, You will Not Lose Anything But Only Make Profit;

Make £/€/$ 50,000 Extra Money On The Side - Free Program

gem image

Use 6 Advantage Plays to Extract Money from Bookmakers, Casino & Bingo sites based on Mathematical & Statistical Edge. Roughly 70% of the Offers are Completely Risk Free, You Can Lock-In Profit around 80% out of it. No Experience Required & for anybody including University Students, Full-Time & Part Time Employees, Housewives, Single Parents & Maternity Women, Job Seekers & Retirees. If You Seeks the way to Make Extra Money Easy & Fast, Go For It. You can access to;

Comprehensive 3 Chapters

  • Chapter 1: Change Mindset - You Never Gamble
  • Chapter 2: Rationale & Strategies To Achieve the Extra Money Target
  • Chapter 3: Ultimate Extra Money Guide Daily Action Planner Phase 1 - 5 (List Every Opportunity with Step by Step Instruction)

All are FREE now, hope you will be impressed with the quality of the program. Don't Wait but Start Now While I Can Keep the Program Free!!Extra Money Guidance Chapter 3 Phase 4 & 5

Posted by Joshua