EXPLAINED: How to win $250 Welcome Bonus at Bovada Sportsbook

Bookmakers attract players with all kind of bonuses but an average bettor usually never read the rules. To win those bonuses he needs to understand their requirements and set the right strategy. Today I will explain how you can win bonus at Bovada.

Bovada is one of the most trusted brands in sports betting world and it is especially attractive for US players.

They offer:

In this article we will focus on 50% Sports Betting Welcome Bonus

50% Sports Welcome Bonus up to $250:

  • Step one: Open account
  • Step Two: Make a deposit and instantly receive a 50% bonus up to $250
  • Requirements: Rollover is 5X Sports/5X Horses/30X Casino

HOW TO WIN THIS BONUS?

First of all you should be patient, because if you make a withdrawal before you met this criteria all your bonus and winnings from bonus will be fortified.

  • Make a Deposit of $250.00 
  • Received Bonus $125.00(This is the money Bovada will add to your account balance)
  • Your account balance after bonus $375.00 – This is the balance after you receive your bonus
  • Roll-over requirements $2,062.50(The rule is clear: Rollover is 5X Sports/5X Horses/30X Casino on both the initial deposit and the bonus amount. Rollover in  Sportsbook, for winning wagers, will be determined by the lesser of your risk or win amount at the time of wager settlement; for losing wagers your risk amount will be credited to your rollover contribution.). The formula for rollover is 5*$375*1.1. If you bet on a game with probability of 50% on their odds and their juice, you will risk $10 to win $9. If you win your roll-over is $9. If you lose your “roll-over” is $10. This is why I multiply with 1.1 to adjust the rollover number.
  • Recommended stake (2%) $7.50(This is my recommended stake and it can be 1%, but you will need more time to complete this task. 2% is max play I recommend)
  • Estimated No of bets 275 – (This is estimated number of bets you will need to make if you will bet $7.5 on every single game, which is exactly 2% of your account balance after you receive your bonus)
  • Odds (-110) 1.91 – (Those are their odds on spreads and the totals. I took -110 for my calculations)

How to win this bonus?

In the table above we have different winning percentages and the profit including bonus, after you roll-over 5 times.

Here is my 3 Month plan:

  • Make around 275 bets with $2.75 per play.
  • Hit at least 50% of games, because if your record will be 49% you will not make a profit, despite they give you $125 of bonus.

Skilled bettor or lucky bettor?

Most bettors are not skilled bettors, this is why 98% of them lose on the long run. However, here we can be little bit more optimistic, because even if you are not skilled bettor and if you blindly bet on games, that have 50% of chance (in this case Bovada odds -110), then you can expect 50% result on the long run. And as you see, record of 50% will make some benefit from taking this bonus.

I would recommend:

  • Play only -110 odds on spread and totals (NBA, NFL, NCAAF, CFB, European basketball,…).
  • Bet 2% of your account balance, which will be exactly $325 after you make a deposit and immediately receive bonus.
  • Don’t change the stake – always bet $7.5
  • Be patient and stay disciplined until you don’t make enough bets (roll-over requirements)
  • Always analyse games to increase your chances. I can show you how I do it in my Online Betting Course.