Online sportsbooks offer a number of promotions that provide an opportunity to win extra money. Free bets and deposit bonuses are especially common and popular in the betting world.
Odds boosts, on the other hand, aren’t quite as well known throughout gambling. Nevertheless, they too can be valuable promos that improve your chances of winning.
This page discusses what you need to know about odds boosts. It also covers how this promotion compares to other offers at betting sites.
How Does an Odds Boost Work?
Both land-based and online sportsbooks take vig (a.k.a. juice) from the losing side of a bet. They collect vig as a small fee for their service.
On a bet with common -110 odds, the bookmaker is taking 10% vig from the losing side. This juice works out to roughly 5% of the overall betting action.
You probably don’t like the fact that betting sites take money off the top. However, you’re essentially paying for the liquidity that sportsbooks offer.
You could make a vig-free bet with your friends on March Madness or the Super Bowl. But your friends may not agree to the exact stakes and odds that you want.
Standard juice throughout the industry is between 5% and 6% on average. An odds boost, however, reduces what the bookmakers take.
When a sportsbook offers these promos, they boost the payout for a moneyline, totals, point-spread, or a different type of wager. In turn, they’re also reducing the overall vig that they collect.
Here’s an example:
Giants vs Eagles
Before Odds Boost
New York Giants
+120
Philadelphia Eagles
-155
Giants vs Eagles
After Odds Boost
New York Giants
+125
Philadelphia Eagles
-140
The sportsbook still holds the overall advantage in the second case. However, they’ve moved both teams’ odds in your favor while effectively reducing their expected profit.
In certain cases, betting sites are really generous and lower the vig to 0%. But the example provided above presents a more-common scenario.
Odds Boost Terms and Conditions
Odds boosts seem like a win-win. However, you also need to consider that there are terms and conditions behind these offers.
You want to know terms and conditions going in the matter. Otherwise, you could botch a good opportunity.
Here are common T&Cs that you’ll run into with these deals:
- Minimum bet – Many sportsbooks require you to wager a certain minimum when dealing with odds boosts.
- Maximum bet – Bookmakers also cap how much you bet so they don’t sacrifice too much money.
- Time limit – These promotions are only available for so long before they expire.
- Rollover requirement – In some cases, money that you win through odds boost must be earned afterward.
- Meet rollover – Rollover refers to a multiple of the bonus that you must wager before withdrawing money.
When Do Online Sportsbooks Offer Odds Boosts?
Betting sites give out odds boosts for the same reason that they do any other promotion: to draw and retain players.
Bookmakers that are generous with odds boosts can create a buzz. In turn, they’ll draw more bettors and earn larger profits.
Their reason for providing these boosts isn’t pure. Nevertheless, you can benefit from odds boosts by reducing or even eliminating vig on certain wagers.
A secondary reason behind odds boosts involves driving you to specific markets. If a bookmaker just recently adds esports betting, for example, they may offer plenty of odds boost promotions to interest you.
Tips for Odds Boost Bets
By taking advantage of odds boosts, you’re already benefiting from a strategic perspective. However, you can get even more out of these opportunities by following the tips below.
- Sign up at multiple sportsbooks – You don’t have to settle for the odds boosts that just one betting site provides. Instead, you can join multiple sites and increase your selection of boosts.
- Look for flexible deals – Some online sportsbooks restrict odds boosts to certain markets while others let you choose the bet. The latter is definitely favorable since you have more choices when picking a winning wager.
- Search for odds matches – Certain betting sites are willing to match prices from other bookmakers, thus providing another way to earn an odds boost. You should strongly consider sportsbooks that use this policy.
- Don’t take the first deal you see – If you do join multiple betting sites, then you should shop around for the best odds boost on a particular matchup. Assuming two or more boosts are available on the same game, then you can take the top deal.
- Read the terms and conditions – As mentioned earlier, you want to thoroughly know the T&Cs so that there are no surprises looming ahead.
Pros and Cons of Odds Boosts
Pros of an Odds Boost
Online sportsbooks don’t launch extensive websites, hire lots of people, and scour markets for available bets for their own entertainment. Instead, they expect to make profits over time. However, bookmakers also realize that there’s competition for business. They can win over more customers by providing odds boosts.
You usually want to take advantage of these deals when available. After all, you can reduce the house’s vig and improve your expected winnings in the process. In some cases, a sportsbook may even lower the vig to 0%. This scenario is similar to vig-free bets that you might make with friends.
You can also join multiple betting sites to find more and more odds boosts. Provided you can deal with the multiple accounts and deposits, then you’ll be privy to many more opportunities.
Cons of an Odds Boost
Boosts on moneylines, point spreads, and totals are almost always a good prospect. However, bookmakers sometimes deviate from these common wagers and attach an odds boost to a parlay (accumulator). As you may know, parlays require you to combine multiple outcomes into a single ticket. They’re commonly known as “sucker bets” for their high vig.
An odds boost lowers this juice. Even still, the lower vig may just be a Trojan Horse to convince you to place unfavorable parlay bets. If you love accumulators, then you might appreciate the opportunity. After all, parlays do provide large payouts when successful.
However, these bets also involve lots of variance. You may continue taking advantage of odds boosts only to keep losing over and over. At this point, the lower juice doesn’t matter much because you’re not winning anything back.
Other Popular Bonuses at Online Sportsbooks
Odds boosts aren’t the only bonus opportunities that sportsbooks provide. You can also look forward to the following offers.
Free Bet
A free bet gives you a chance to earn money back after losing a wager. For example, you might get a free bet worth up to $100.
In this case, you can bet up to $100 and earn (possible) losses back afterward. You just need to meet terms and conditions to get the money returned.
Match Deposit Bonus
With this deal, an online sportsbook matches your deposit up to a certain amount. For instance, a betting site might match your deposit by 100% up to $500.
No Deposit Bonus
A no-deposit bonus rewards you just for finishing registration. You get to keep anything that’s left over from these bonuses, plus potential winnings, after satisfying terms and conditions.
For Example:
You might receive a $20 no-deposit bonus. Assuming you run this amount up to $40, then you’d either get to cash out or continue betting with the $40.
VIP Rewards
Some bookmakers offer loyalty plans that reward your betting action. Free bets and more deposit bonuses are common rewards through these programs.
Conclusion
Odds boosts are definitely worth looking for. They lower the bookmaker’s juice and increase the payout for a certain bet.
Of course, you don’t want to blindly jump into these opportunities. I highly suggest that you read the terms and conditions behind any odds boost.
Assuming the deal checks out, though, then you should consider taking advantage. If you capitalize on enough odds boosts, then you’ll improve your chances of making profits
Michael Stevens
Michael Stevens has been researching and writing topics involving the gambling industry for well over a decade now and is considered an expert on all things casino and sports betting. Michael has been writing for GamblingSites.org since early 2016. …
