making most of "risk free bet" when visiting a sports betting state

**KVB** · 12-11-22, 04:33 PM

For the Risk Free Caeser's bet I believe you need to lose the first real wager and then Caeser's will refund the losing wager. It's a minimum of $10 and a maximin of $1250.

The problem for bonus "maximization" purposes here is that the risk free bet is a single bonus credit that cannot be divided into individual bets.

Let's walk through this...You can try your friend example, betting opposite sides on your original bet, splitting the loss and only the loss account will have the $1250.

So the winning account has $2500 in real money with no restrictions and the losing account has a one time use $1250 bet. The winning account pays the losing account (account holder, not necessarily the account) $1250, everyone is even with a $1250 free bet in the mix.

When we think about maximizing a bonus or freeplay we don't usually involve other individuals and instead bet at another house with our own account. The other thought is to split up the bonus and bet strategically, but you can't do either with this offer (at least not another Caesars account, obviously).

Other thing to note, which may not apply to you here, is that once you take this offer in one state, you can't get it again. After the BetMGM free 5k bets that we were getting in each state, the houses got smart and closed that loophole.

I wish I had more for you than walking through your example, and maybe others have ideas, but if we can't split the $1250 up into strategic parts, we run out of a lot of useful options.

Otherwise, involving a friend in both the first bets and the freeplay will serve to move money between accounts, and not much else.

Maybe others have more to add and maybe I'm forgetting something I've even already done, I admit I'm hurrying this post a bit but I do want to hear from others as well.

Good Luck

**mr_rob** · 12-11-22, 05:11 PM

Thanks for your response. I'll have to see if there are any other sportsbooks in Louisiana that have a risk free bet that maybe I could play them off each other instead of involving another person.

I think I would be OK with using up my 1 time offers since I'm more of a casino player than a sports better on this trip

**milwaukee mike** · 12-11-22, 06:12 PM

mr rob, the best one would be barstool (hollywood casino properties)

if you deposit 1000 at the casino (for the app), and bet it all on 1 bet, the refund is CASH instead of a freebet... and not only that, until 12/31/22 they also give you another 500 CASH about 5 days later

both the 1000 come back (if you lose), and the 500, have to be bet again... but the value of that offer is about $1000 vs the value of the caesars offer which is only about $300 (since 1/2 the time you get a 1250 freeplay that is worth about 600)

and if an offer is only worth 300 it might really be worth about 0 because if you win caesars might give you a w-2 and make it taxable

**mr_rob** · 12-11-22, 08:46 PM

what states is that for? That sounds really good but I'm not sure it would work in Mississippi or Louisiana

**mr_rob** · 12-11-22, 08:46 PM

Originally posted by milwaukee mike

mr rob, the best one would be barstool (hollywood casino properties)

if you deposit 1000 at the casino (for the app), and bet it all on 1 bet, the refund is CASH instead of a freebet... and not only that, until 12/31/22 they also give you another 500 CASH about 5 days later

both the 1000 come back (if you lose), and the 500, have to be bet again... but the value of that offer is about $1000 vs the value of the caesars offer which is only about $300 (since 1/2 the time you get a 1250 freeplay that is worth about 600)

and if an offer is only worth 300 it might really be worth about 0 because if you win caesars might give you a w-2 and make it taxable

what states is that for? That sounds really good but I'm not sure it would work in Mississippi or Louisiana

actually I see it.. when you say "CASH" you mean not cash that I can withdraw but cash to use on whatever bets I want, right? Like 200 here , 100 there. Instead of 1 yolo $1250 bet?

**milwaukee mike** · 12-11-22, 08:53 PM

Originally posted by mr_rob

what states is that for? That sounds really good but I'm not sure it would work in Mississippi or Louisiana

yes it's good in louisiana, the 2nd one (500 match a week later) says michigan/pa but the other states are BETTER because they work as sportsbook cash instead of casino, and there should be a sign at the sportsbook... and yes you get both, it's a weird and overly generous deal

https://barstoolsportsbook.com/promotions/new-player-bonus

https://barstoolsportsbook.com/promotions/Casino-Cash-At-Casino-061522

**mr_rob** · 12-13-22, 08:55 PM

Wait for the ones with Bonus Cash, like barstool... If I have $1000 in bonus cash and I bet on a game that has a to win: $950 would I bet getting $1950 in USD if it wins? Unlike "Free Bets" that would just turn it into $950?

**milwaukee mike** · 12-14-22, 12:49 AM

Originally posted by mr_rob

Wait for the ones with Bonus Cash, like barstool... If I have $1000 in bonus cash and I bet on a game that has a to win: $950 would I bet getting $1950 in USD if it wins? Unlike "Free Bets" that would just turn it into $950?

that is correct... fan duel used to be cash like barstool, now it's just freeplay... from what i know barstool is the only that one that gives it back as CASH if you lose... and with the added 50% ($500) bonus a week later, barstool is a no-brainer, but ONLY THROUGH DEC 31 2022

after that who knows, so many of these promos are gonna disappear from everything i see and hear, so i'm telling everyone and anyone to get their butt to an eligible hollywood casino before the end of the year!

**mr_rob** · 12-14-22, 07:18 AM

Originally posted by milwaukee mike

that is correct... fan duel used to be cash like barstool, now it's just freeplay... from what i know barstool is the only that one that gives it back as CASH if you lose... and with the added 50% ($500) bonus a week later, barstool is a no-brainer, but ONLY THROUGH DEC 31 2022

after that who knows, so many of these promos are gonna disappear from everything i see and hear, so i'm telling everyone and anyone to get their butt to an eligible hollywood casino before the end of the year!

Thanks. So I should arbitrage bet on Barstool vs Caesars but hope that Barstools is the one that loses to guarantee a payout instead of just guaranteeing break even

**milwaukee mike** · 12-14-22, 10:38 AM

Originally posted by mr_rob

Thanks. So I should arbitrage bet on Barstool vs Caesars but hope that Barstools is the one that loses to guarantee a payout instead of just guaranteeing break even

that's one way to play it... but you're gonna have to do that twice, because one of the 2 will lose, giving you either freeplay (caesars) or cash (barstool)... and then 5 days later you'll have that extra 500 at barstool that has to be bet once

if you deposit 1000 barstool, 1250 caesars, you should make at least 1100 doing that

**Chiefs83** · 12-14-22, 10:50 PM

Just bet opposite of your friend if you want to make it simple

**JoeOffsuit** · 12-18-22, 02:01 PM

Does anyone know about how long it usually takes Caesars to put the "free bet" into a players account after the first bet is a loser?
On other books its instantaneous, but I guess not at Caesars.

**milwaukee mike** · 12-18-22, 02:39 PM

Originally posted by JoeOffsuit

Does anyone know about how long it usually takes Caesars to put the "free bet" into a players account after the first bet is a loser?
On other books its instantaneous, but I guess not at Caesars.

last time i did will hill or caesars, i think it was 2 days

**Barrakuda** · 12-21-22, 01:44 AM

You want to use a free play on the largest ML dog you are comfortable with. Math here:

Risk-Free Bets Can Actually Be Quite Risky, And Quite Profitable

https://unabated.com/articles/risk-free-bet-profit-strategy

Ironically, optimizing profits on risk-free bet promos will require you to incur quite a bit of risk. But those profits can be substantial.

**jjgold** · 12-21-22, 06:48 AM

People that bet other side also destroy all value of the free play unless other side an arb which will never happen

Only squares bet both sides and lose tons of juice

Pros on one side of the free play and usually a parlay or nice dog

**Statman** · 12-21-22, 03:25 PM

Bang on.

Always put that free play on a Moneyline dog instead of having to "lay" juice. I usually like the small dogs that would typically fall inside of -2.5 on nfl and nba.

Originally posted by Barrakuda

You want to use a free play on the largest ML dog you are comfortable with. Math here:

https://unabated.com/articles/risk-f...rofit-strategy