First Step: Join here and create an account. After you create an account select any of the available payment options (Credit Card, Bitcoins,…) and make your first deposit. This bonus requires a minimum deposit of $45. The maximum bonus available is $1000.
Bonus Explained: MyBookie will match 50% of your deposit as a Free Play. Example: If you deposit $1000, they will give you a bonus of $500. Of course, it is available only once per player.
Promo Code and Rollover requirements: Use promo code MYB50 and you must Rollover 10 times (10x Rollover) before requesting a payout.
Real Example: If you deposit $1000, your bonus is $500. For a sport betting bonus you must rollover 10 times: $1000 + $500 = $1500. Rollover is $1500 x 10 = $15,000.
What are the chances for an average sports bettor to win this bonus and what is the best strategy?
The first thing we will look is their margins. Margins (juice, vig, vigorish,…) are basically commissions that bookmakers take every time we bet. This is their edge and this is the simplest explanation. To learn more about how to calculate probabilities, margins, and more you can check Free Sports Betting Course.
They offer early -110 vs -110 odds on NFL and they offer boosted odds every week. Their edge is 4.7%.
Because we also know that 97% of all bettors have no edge against the market, their betting record is most likely to be 50-50 once they make enough bets.
Let’s check what happens if we bet blindly on 50% vs 50% games (in this case the odds of -110 vs -110 or 1.91 vs 1.91 in decimal) and what we can do.
I put this in a table below:
If we don’t have the edge in sports betting we will probably end with the record 50-50 and this will not be enough to get this bonus because the margins will eat you.
How is this calculated?
Your deposit is $1,000. You get $500 as a Free Play. But before you can request a payout, you must rollover 10x times, which is $15,000.
If we have $1,500 available cash to bet we can calculate what would be the unit if we bet 1% per game. I also make a calculation for 2% per bet. Anything else is already in the range of high risk and if you try a high-risk strategy, you will probably lose on the way to a bonus after the first bad streak.
But if we focus on betting strategy, then 1% represent $15 as 1 unit. To reach $15,000 Rollover we must make exactly 1000 bets ($15,000 divided by $15 = 1000). If we don’t have the edge our betting record on 50% vs 50% games (spread betting) will likely be 500-500.
Goin 500-500 with the unit of $15 will make you a profit/loss of -$175. In other words, you deposited $1000, and after you make 10x Rollover plus the bonus you didn’t benefit from it.
To benefit from this bonus you must hit 51%. If we check the table below (51% bettors) it shows that you would make a profit.
Conclusion: You will benefit from this bonus only if you hit 51% or more games. If you are an average bettor you will not benefit from this Welcome Bonus.
Join here and claim Your Bonus