Sportsbook Bonus Chasing

Q: Is it really possible to chase online sportsbook bonuses profitably?

A:  Oh.  Hell. Yes!

I like sportsbook chasing more than poker or casino bonus chasing for the following reasons:

• It's easy
• It can be done risk free
• There's more money in it
  

The basic concept behind sportsbook bonus chasing is very simple. 

1. Deposit money at a sportsbook offering a bonus
2. Have money in another book - your home book
3. Scalp bets between the two books until your wagering requirement is met for your bonus, or until you've lost all the money in the bonus book (because you've won it in your home book)
4. Pocket the bonus

An example would probably be helpful.

Book A is offering a 10% deposit bonus with a 3X deposit+bonus wagering requirement.  The bettor signs up at Book A and deposits $1,000 for a $100 bonus and incurs a $3,300 rollover (wagering requirement).  For our example we will keep things simple and say that the bettor also has $3,000 at Book B, with no pending bonus or wagering requirement. 

The bettor studies the available betting lines between Book A and Book B and finds that Book A is offering:

Steelers +3 (-110) vs Browns -3 (-110)

While Book B is offering:

Steelers +3 (-130) vs Browns -3 (+110)

This combination of wagering lines allows a bet on the Steelers at Book A to be exactly offset by a bet on the Browns at Book B.    The bettor should move all $1100 he has available for betting ($1,000 deposit + $100 bonus) in on the Steelers at Book A.  $1100 bet at -110 will yield $1,000 if the bet wins.

To offset this, the bettor should then make a $1,000 bet on the Browns at Book B.  $1,000 bet at +110 will yield $1100 if it wins.  The bettor now has $2,000 of his own money in play, plus $100 of bonus money.  However, the bets are completely offset and the bettor has zero risk.  

The best outcome for the bettor at this point is for the bet on the Browns at Book B to win.  If this happens then the balance in Book A goes to nil - the bettor is bust at Book A.  At the same time, the account at Book B is increased by $1100.  The bettor deposited $1,000 at Book A, made offsetting bets, and collected $1100 at Book B.  He has profited $100.

If the bet on the Steelers wins, this is still an acceptable result.  One-third of the $3,300 rollover is met and none of the bonus is lost.  The bettor simply begins looking for more lines between the two books until he busts or the wagering requirement is met.

While the basic concept of sportsbook bonus chasing is very simple, there are some intricacies and pitfalls.  Some of which can cost a you some money or opportunity.