Caesars Sportsbook - $5000 "free bet" promo (1 Viewer)

IaHawk

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Anyone see the $5000 free bet promo Caesars Sportsbook is running for new players? Basically, you can bet up to $5000 on a single game, if you win its treated as a normal bet and you can cash out. If you lose, you get a "free bet" token worth up to the amount you bet ($5000 is the max, but you can bet less). It sounds like the free bet is only one bet and you would need to bet the same amount again. You have to deposit whatever amount you are wanting to bet. Typically these promos are a few hundred dollars...never seen one this big. In college I turned a "free $50" into $1500 and cashed that out but that one had a rule that you had to make like $2000 worth of bets before you could cash out.

I haven't bet on games since college but I recently started playing in a league where we get a fake bankroll and the person with most at the end wins. This is tempting...but dont think I could do $5000. Just wanted to share with the group. I'm sure there are some smart people out there to figure out the best way to hedge this bet at a different book and win ~$2500. :unsure:

https://www.williamhill.com/us/ia/bet/promos/risk-free-5000
 

Marius L

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Seems like a good possibility if you can manage to hedge it with another bet somehow like you said. Interesting promo. Seems very too good to be true... No other strings attacked than making one other bet of the same amount on whatever you'd like?
 

Poker Zombie

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I briefly went over the fine print a while back, and it seemed legit, but I haven't gone through all the terms and conditions. Keep in mind, with free bets you don't get back the $5000 with a win, you only get the profit from the bet.

Being Caesars, I'm sure they are happy to "set the hook". Their hope being a loyal bettor, including their address, email, and phone number.
 

LotsOfChips

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Seems like a good possibility if you can manage to hedge it with another bet somehow like you said.


Rules prohibit betting on both sides of the table (hedging).

Not sure how they would know if you did it on another platform, but I'm guessing that a lot of these online sports books share a common parent company, so it doesn't seem so far fetched that they could find out and deny your free play.
 

Poker Zombie

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Lets' look at dancing around the no hedging rule.

Two friends, Jon and Bob, both sign up and deposit $5000 each.

Jon bets the over and Bob bets the under. Team JB -$10,000

Jon wins. With the vig, the over pays $4545, on top of Jon's bet of $5000. Team JB -$455

Bob gets a free bet of $5,000. On a coin-flip type bet he would win half the time (+$4545) and lose half the time (+0).

If Bob wins the free bet, team JB gets a smoove ;) profit of $4090
If Bob loses, Team JB finishes down $455.

Yes, it is a +EV scenario (+$1817). It is not without some risk though.
 

Poker Zombie

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They ran this in Arizona. I’d just like to say FU Packers and FU Seahawks.
Yeah. The Seahawks this year have me feeling like this guy's head. :mad:
6c5170009296d48ee6ad874fa3f1f51c
 

ruskba

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I've done a lot of sportsbook promos and "free bet" promos are the absolute worst. Stay away.

MGM seems to be the best sportsbook in terms of bonuses, where they will regularly give deposit bonuses even to non-new users. For any site that does a deposit bonus, you have to check the fine print to see how much you have to bet before you're allowed to withdraw any of your money. For MGM, it's generally 1x the bonus amount, so I regularly deposit $400, they give me $100, I bet $100, and if I lose, I just withdraw $400. Completely risk free. I have seen sites with 20-50x playthrough...they will literally expect you to bet $20,000+ just for $100 bonus.

Always read the fine print.
 

Marius L

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Lets' look at dancing around the no hedging rule.

Two friends, Jon and Bob, both sign up and deposit $5000 each.

Jon bets the over and Bob bets the under. Team JB -$10,000

Jon wins. With the vig, the over pays $4545, on top of Jon's bet of $5000. Team JB -$455

Bob gets a free bet of $5,000. On a coin-flip type bet he would win half the time (+$4545) and lose half the time (+0).

If Bob wins the free bet, team JB gets a smoove ;) profit of $4090
If Bob loses, Team JB finishes down $455.

Yes, it is a +EV scenario (+$1817). It is not without some risk though.
If it truly is as easy as this, and no other strings attached, it's pretty much free money. Very +EV. Risk can obviously be mitigated by lowering the bet amount.
 

Poker Zombie

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If it truly is as easy as this, and no other strings attached, it's pretty much free money. Very +EV. Risk can obviously be mitigated by lowering the bet amount.
It pretty much is that easy. There is a time limit on how long that free bet remains active (I think it was 48 hours, but would re-read the fine-print if I took them up on the offer), so you may be betting on a different team/sport. I suspect that is to catch some money expired, and/or to get players hooked.

I'm sure if they could send you free drinks, they would do that too. Caesars is not new to this whole betting thing. Let players run it up and then piss it back, with interest.
 

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