In the world of online sports betting, savvy bettors are finding ingenious ways to bet almost risk-free. A key strategy involves utilizing backup bet promotions available on sports betting apps and placing opposing bets on different apps for the same event. Here’s a breakdown of how this clever approach works.
The Concept of Risk-Free Betting with Backup Bets
Risk-free betting in this context involves placing bets on all possible outcomes of an event across different betting platforms. When you use backup bet promotions, which refund your stake if you lose, you can cover all bases, ensuring either a win or at least a break-even scenario.
How to Implement This Strategy
Identify Backup Bet Promos: First, find sports betting apps like DraftKings, FanDuel, and BetRivers that offer backup bet promotions, particularly those that refund your stake in cash or as a free bet.
Choose an Event with Clear Outcomes: Focus on events with two clear outcomes, like tennis or basketball games. Avoid sports with ties or multiple potential outcomes.
Place Opposing Bets on Different Apps: Let’s say you choose a basketball game. Place a bet on Team A winning on one app and a bet on Team B winning on another app. Use the app with a backup bet promo for the riskier bet.
Calculate the Stakes: Ensure your stakes are calculated so that no matter the outcome, you either make a profit or at least get your original stake back. The refund from the losing bet (if any) balances out the loss.
Example Scenario
Imagine there’s a basketball game between Team A and Team B. You have two apps: App X offers a backup bet promo, and App Y doesn’t.
- You bet $100 on Team A winning on App X.
- Simultaneously, you bet $100 on Team B winning on App Y.
- If Team A wins, you win the bet on App X. If Team A loses, you lose your bet on App X but get a $100 refund due to the backup bet promo.
- Regardless of the outcome, your bet on App Y on Team B either wins or loses, offsetting the result on App X.
Advantages and Considerations
Minimized Risk: This strategy significantly reduces the risk of losing money.
Backup Bet Terms: Always read the terms of the backup bet promo. Some refunds are in the form of free bets with wagering requirements.
Arbitrage Opportunities: This strategy is similar to arbitrage betting and requires careful planning and quick action, as odds can change rapidly.
Conclusion
Using backup bet promotions in combination with strategic betting across multiple apps is a clever way to enjoy sports betting with minimized risk. By covering all possible outcomes, you can either secure a win or protect your stake. However, it’s crucial to understand the terms of each promotion and to bet responsibly, ensuring that gambling remains a fun and safe activity.
