Type of Bonus
Risk Free Bet of up to $1,000
Type of Bet
$1,000 bet on longest odds possible. This is in order to maximize the expected value of the refund when you lose a bet.
Theory Behind Optimal Strategy
The theory here is that for a risk-free bet you should maximize upside rather than opting for safety. If you bet $100 at -10000 to win $101, your free bet will only net you a positive gain of $1, and if you lose your bet, you get your $100 back. So the binary outcomes are $100 (loss, free bet cost replaced) and $101 (win). However, if you bet $100 at +1000 to win $1,100, your outcomes are $100 (loss, free bet cost replaced) or $1,100 (win).
DFS player? Sign up for BetMGM using the link below and receive three months of free Awesemo+ Platinum access as an added bonus. A $270 value in addition to your free $1,000 bonus.
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NJ, WV, CO, IN, TN, MI, IA, PA, DC
Deposit Required for Maximum
*A playthrough, also known as a rollover or wager requirement, details how many times a person has to wager their bonus amount before they can withdraw funds. For example, a 5x rollover requirement means a bettor would have to wager their deposit and bonus amount five times before they could withdraw.
|Site||Type||States||Deposit Required for Max Bonus||Rules||Playthrough Required for Max Bonus||Max Bonus||avg rake||Rake Free EV (break even bettor)||Rake EV||Rake Free ROI||Rake ROI||Optimal Strategy|
|BetMGM||Risk free bet||NJ, WV, CO, IN, TN, MI, IA, PA, DC||$1,000.00||n/a||$1,000.00||4%||<$1000||<$960||100%||96%||$1,000 bet on longest odds possible. This is in order to maximize the expected value of the refund when you lose a bet.|