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resetmypass t1_j9uzxf3 wrote

Reply to comment by RascalRibs in LPT: Maintain separate bank accounts when you get married by The_Stein244

Give an example please. Can you share exactly what was the promo offer and what was the bet to make 3k? To me it sounds like you got lucky instead of you getting “free” money.

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RascalRibs t1_j9v0pqt wrote

There's no luck involved.

GambetDC had a 57% deposit match up to $1000 in bonus funds. They also did a $250 risk free first bet.

MGM had a 100% $500 deposit match and a $1000 risk free bet.

I'm not going to list out every bet, but you use those offers and bet the opposite side using another book. We used Draftkings, Caesars and Fanduel depending on who had the best line offered for each bet. Was a bit annoying with DC since they have location restrictions for MGM and Gambet, but it was still easy enough to make the bets and then either walk to the next area or take the metro back to VA to place our hedge bets.

Oh, and we also got $200 in free bets on MGM for some reason.

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resetmypass t1_j9v1ogf wrote

This doesn’t make sense to me. If you use bonus money to make a bet and then use your own money to make the hedge bet, don’t you just either lose the bonus money or lose your hedging bet? How do you get ahead?

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RascalRibs t1_j9v2i2y wrote

Just to keep it simple, we'll look at the BetMGM offer without even considering the risk free bet portion, and just for one user.

You deposit $500 and receive $500. You have $1000 to place a wager.

You place $1000 on a +220 line. The total payout is $3200.

You place a hedge bet of $2286 on the opposite outcome at odds of -250. The total payout is $3200.

So you've bet $500 and $2286, for a total of $2786, and your total payout is $3200. $3200 - 2786 is a profit of $414.

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resetmypass t1_j9v5j3q wrote

Thanks for explaining! How do you get these offers? I will go try it out

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RascalRibs t1_j9v5ruu wrote

The BetMGM offer is available to be customers. Once you register, just wait a few days and they'll send the email for the deposit match offer.

And you can do it again in multiple states.

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drgngd t1_j9v978s wrote

Dude good shit on gaming the system!

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RascalRibs t1_j9v9mr5 wrote

They have no problem screwing customers so I'm just trying to fight back lol

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drgngd t1_j9v9uzg wrote

Oh 1000% that's why I'm rooting for you. They're trying to lure in people with the free bets so they can take their money. Glad you figured out a way to take some of it back.

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Bay_Burner t1_j9vigo1 wrote

Can’t you just take the $500 and bet $10 and withdraw? You free $500 lost some value down to $414.

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RascalRibs t1_j9vk027 wrote

You have to play through it before you can withdraw it.

And I usually find much better lines, so I'd end up around $500.

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