Here’s our overview of how we suggest beginners tackle the sportsbooks for profit.
You may have heard of people who study the stock markets. They watch carefully for movements and gamble on whether share prices are going to rise or fall. That is not what we are about. We are not interested in taking these risks or suggesting that anyone else should take them.
You may also have heard of the term ‘arbitrage wagering’. (If not you can do an online search via one of the earch engines/wikis). Essentially, people skilled in arbitrage will locate a sports event and place their wagers so that, no matter which team wins, they will make a profit. This takes a very keen eye, knowledge of the sport, swiftness of action and experience. It also takes years of study to perfect.
Idealwager offers something different and less demanding. We give guidance on a form of wagering that takes up the bonus deals on offer from online sportsbooks and, in the style of arbitrage wagering, allows you to make a profit no matter which team wins.
Seems too good to be true? Wrong! So long as you follow our guidelines you can also make money just as we have for eleven years. You won’t make a fortune but you can easily make up to £1000 per month using our system and there is no charge for our expert guidance.
Here are the actions you should follow:
You need to have access to a computer in your own home with a broadband connection.
Obtain a new e mail address with a good solid e mail provider (such as hotmail or google). Use this e mail address for everything to do with this part-time business.
Set up a UK £ Sterling bank account that allows online transactions (most of them do) and apply for a debit card or use your current bank if you wish.
Set up an account with Neteller, (an online financial organisation that allows you to transfer £sterling into US dollars even if you are a non-US resident) and gives you an online account for holding dollars. It is important to have this account because most of your transactions will be in dollars. Drop us an email and we’ll send you a quick link back to the Neteller sign up page. Click here to email us.
You will have given Neteller some basic security information (name address etc) to set up your account but you will need to ‘extend’ your account to take larger transactions
To facilitate this, Neteller undertake further security checks to ensure that you are who you say you are, so you need to be prepared to provide ID documents when requested. (currently driving licence or passport and a utility bill or similar). These can be e mailed to them.
There is a minimum amount of dollars you will need to make this business work. This is around $10,000. You need to take a leap of faith here and obtain around £7000 either from savings or even on a cheap credit card deal. It will be worth it!
After Neteller has confirmed that your account has been ‘extended’ you will be able to send a larger amount of dollars into the account, in your case, a minimum of $10000.
You are now ready to undertake the business of making money from the idealwager system.
Online sportsbooks, (what we would refer to as bookmakers in the UK), offer bonuses as an incentive for people to join them as members. They usually take the shape of an additional amount which is added to your account once you have made a deposit. This can be anything from 10% to 100% of what you have deposited yourself.
However, there is a condition from the sportsbook offering the bonus money, called a ‘rollover’ which means, if you accept the bonus on offer, you must complete a certain amount of wagering before making a withdrawal. This varies from three to twelve times the amount of your deposit and the bonus added together.
As an example, you may deposit $1000. The sportsbook then gives you 10% ($100) and your balance now shows $1100. They then ask you to rollover the amount of the deposit and the bonus four times before making a withdrawal. So this would be 4 x $1100 = $4400 of wagering.
You will then look for another sportsbook offering a deposit bonus deal and for the sake of easy mathematics, let us find another offering the same bonus percentage as the above. Again you deposit $1000 and receive $100 in bonus money.
So you have Sportsbook A with $1100 in the account and Sportsbook B with $1100 in that account. Remember that only $2000 of this balance is your money, the rest ($200) is bonus money.
The idealwager method is to reach the rollover targets imposed by the sportsbooks so that you keep not only your deposit money but also a proportion of the bonus money.
Why only a proportion of the bonus money? That’s because you will be looking for wagering opportunities that offer lines where the odds are favourable but they don’t have to be a perfect arbitrage. You are not an arbitrage expert! However, there are a number of close lines every day that will adequately meet your needs.
You will become used to the ‘American Odds’ system whereby a + in front of the odds indicates an outsider ( a team less favoured to win) or a – in front of the odds means the favourite (considered more likely to win).
You will look for certain sports where there are only two outcomes; a win or a loss. You will become familiar with the kinds of sports you should look at but generally speaking, Basketball, Baseball, American Football and Ice Hockey are commonly available and also offer this kind of ‘win or lose’ wager. (There no draws in these sports).
You will also find unusual types of wager terms such as ‘moneylines’, spread bets’ and ‘totals’ Part of our advice will be to tell you what these terms mean and how to look for opportunities but it is not as complicated as it looks!
Let us take an example of odds that would suit your needs;
Sportsbook A is offering the following odds on New York v Philadelphia in a basketball game.
New York is a stronger team in our example. They are more likely to win so the sportsbooks offer a ‘spread bet’ (a handicap to one team and an addition to another) . It might be something like minus 6 points against New York and plus 6 points to Philadelphia. In this way, using their own set of judgement rules, the sportsbooks ‘even up the match’ so both teams have the same chance of winning.
These odds for spread bets are commonly expressed at -110 for both teams. In other words, for every $110 dollars placed as a wager, if the team wins you will win your stake back plus $100.
If you wager all of your balance within Sportsbook A on New York and all your balance on Sportsbook B on Philadelphia, clearly one will win and one will lose.
Let’s say New York win. You then have $2100 in that account and zero in Sportsbook B. At this point and it is important to remember your rollover requirements on Sportsbook A is four times the initial deposit and bonus. So you have already wagered $1100 of the $4400 required, leaving $3300 to wager.
However, the rollover requirement in Sportsbook B drops to zero and in many cases (we will advise which ones) the book will offer you a reload bonus. In other words, they will give you another 10% bonus on another deposit. So a further $1000 deposit gives you a $100 bonus.
So you now have $2100 in Sportsbook A and $1100 in Sportsbook B.
Let’s give a different example this time. You look for a money line that is a good matchup, (that’s a straightforward ‘chance of winning’ line without any handicap. In Sportsbook A you put all your money on Detroit in a Baseball game and in Sportsbook B, all your money on Baltimore who are playing Detroit.
What do we mean by a good matchup?
Well different online Sportsbooks look at the two teams in marginally different ways. Without exception, they can see who is the favourite and who is the underdog but they occasionally judge the difference in crucially different ways:
Book A might look at Detroit versus Baltimore and give the American style odds on the heavy favourite, Detroit, -220 to win (i.e. for every $220 placed, if the team wins you will win your stake back plus $100). They may be offering Baltimore at + 200 (i.e for every $100 staked if the team wins you will win $2200.
Book B has the same baseball match listed at -230 for Detroit to win and +210 for Baltimore.
So by taking the -220 line at Book A for Detroit and the +210 line at Book B we have minimised the loss on our matched wager as follows:
We place all our cash available in Book A on Detroit which will give the following result if it wins; $2200 at -220 gives a $1000 win and $3200 sitting in the account
We also place our $1100 in Book B on Baltimore at +210 odds which will give the following result if it wins: $1100 at +210 gives a $2310 win and $3310 sitting in the account.
You can see that either result is going to give a profit. If Detroit win you have made a profit of $200 so far. If Baltimore win your profit is $310 so far. In either case, things are looking good.
Let’s say that the favourite, Detroit win. You now have $3200 and a profit of $200
Let us take the third example. The next evening, you reload (with another 10% bonus at Book B) and you find another good match up between a strong favourite and an underdog on a Hockey match. (You find these good matchups by scanning through the lines on both books until one shines out at you!)
This time you find a -300 on Washington at Book A and a + 295 on Chicago at Book B
You place all your funds in Book A, $3200 on the favourite Washington, which will give the following result if it wins; $3200 at -300 gives a $1067win and $4267 sitting in the account.
We also place our $1100 in Book B on Chicago at +295 odds which will give the following result if it wins: $1100 at +295 gives a $3245 win and $4245 sitting in the account.
Let’s say that the favourite, Washington wins again. You have easily completed the rollover requirements required by Book A for the original bonus. You had to wager $4400 and in three wagers ($1100, $2200 and $3200 = $6500) you have easily completed it, so you are at liberty to cash out.
The cash coming back to your Neteller account is $4245 in this example. Therefore, in three nights you have made $245 (£160 at todays exchange rates).
You also have the possibility of a further reload bonus for Book B and that is when you would look for Book C through the approved list on Idealwager, to begin the whole process again.
Using this system and our guidance (because there are many years of experience behind us regarding which books offer good lines on different days of the week, who pays out the fastest, free days for cashouts, special spot promotions, do’s and don’ts etc etc.
You are probably thinking ok so what is in it for us here at Idealwager? Why are we giving away all this information?
It’s quite simple. We are paid as affiliates by the sportsbooks we have listed and we are encouraged to obtain new members where we can. Providing you with information that would encourage you to embark upon this scheme means that we both win. It’s a simple as that.