To promo, or not to promo? That is the question punters are asked each and every week here in Australia.
The online wagering space has very quickly become incredibly competitive due to technological advancements and the removal of many key barriers to entry for global players
Bookmakers all around the world are running daily betting promotions to try and win our business and get players depositing into their platforms.
Some of these promotions are great value for the punter while some of them can be misleading and the value proposition for the player is quite low.
Here are some tips to ensure you know when to promo, and know when to say NO to the promo.
- Avoid multi bets unless the overlay to the markets prices exceeds 20%
- Look for cash back or money back promotions instead of bonus bet promotions. Remember with bonus bets that mathematically they are only worth half their amount in cash. IE a $100 bonus bet on a $2 shot that wins will return $100 cash to the players account on the majority of websites due to the bookmaker taking the stake back. A $50 CASH bet at $2 will return the same $100 cash to the account.
- Always be aware of the bookmakers percentage on the event you are betting into. Promotions on H2H and line bets are great because those markets usually are between 104 and 106% where as promotions on things like First Try Scorer and Premiership winner can start at 115% all the way up to 140% and beyond. The tighter the market the more likely the promotion will tip the scales in your favour.
- When being offered inflated odds or price boosts. Trust the market SP, particularly that of big bookies like Pinnacle and Betfair that have large volumes and efficient markets. For example, if Collingwood is $1.55 to win on Betfair after $300,000 has been matched and Ladbrokes are offering a price boost of $2.20 on the Magpies this would likely be a betting option unless you personally had marked the Magpies higher than the $2.20 on offer.
- Keep an eye on our Punting Stars social media pages and preview articles. We will sort through the weekend promotions and find the best value options for the punters.
Please remember that promotions are at the bookmakers discretion so professional or large winning clients will likely become ineligible for most over time.
Bonus hunters or clients who only bet into promotional markets will also likely have their offering reduced by the bookmaker.