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Started By
Message
What’s the catch with these betting apps?
Posted on 2/13/22 at 8:43 am
Posted on 2/13/22 at 8:43 am
I signed up for Caesars and Draftkings and got a total of $600 in free bets. I’m really not much of a gambler. But they now have other promos like “spend $20, get $300.”
Is this just to try to get me addicted? Or is there some catch I’m missing? Because these sound like good deals…
Is this just to try to get me addicted? Or is there some catch I’m missing? Because these sound like good deals…
25
Posted on 2/13/22 at 8:55 am to AndyJ
So what you're saying is it works?
Posted on 2/13/22 at 8:58 am to AndyJ
To get you addicted. Plus lots of competition right now. If you play it right, you can maximize all bonuses and pull all your original money out and more and play with free money. These apps also realize some of those will get addicted and pay it all back which is why they do it.
Posted on 2/13/22 at 9:09 am to AndyJ
The lure of gambling (in my experience) is that most of us aren't smart, and/or we consider that $500 deposit discretionary income that we're okay with losing.
And if we're okay to lose that, why withdraw when it gets to $1000? Heck, I'll just keep betting hoping to get to $5000.
Then math does it's thing, and the long term odds take most of it back, and the House is the long term winner. (The math is defininely on their side, as they take piece on every play.)
And eventually, I'll make another $500 deposit.
As long as one budgets their entertainment, no big deal. But we know that everyone can't do that.
ETA: I haven't made a bet since 5dimes went out of business. Between work and wall street, I'd rather relax while watching football.
And if we're okay to lose that, why withdraw when it gets to $1000? Heck, I'll just keep betting hoping to get to $5000.
Then math does it's thing, and the long term odds take most of it back, and the House is the long term winner. (The math is defininely on their side, as they take piece on every play.)
And eventually, I'll make another $500 deposit.
As long as one budgets their entertainment, no big deal. But we know that everyone can't do that.
ETA: I haven't made a bet since 5dimes went out of business. Between work and wall street, I'd rather relax while watching football.
Posted on 2/13/22 at 9:25 am to AndyJ
quote:
I signed up for Caesars and Draftkings and got a total of $600 in free bets. I’m really not much of a gambler. But they now have other promos like “spend $20, get $300.”
Is this just to try to get me addicted? Or is there some catch I’m missing? Because these sound like good deals…
Pretty sure some of the sites (or all) have a requirement to make a certain number of bets to be able to cash out the free money given to you
So you have to make more bets than just the initial deposit to get the money out
Posted on 2/13/22 at 9:38 am to Grassy1
you won't win house table games long term but you can sports betting if you have systems and know WTF you are doing. i do it year in and year out with MLB and NHL. is it easy? nope. you have to track, research, study and evolve. i use plenty of tony stoffos pro systems plus my own.
If the OP really does not know shite about wagering he needs to stop now. you have to treat this as a business. use zero emotion. most cannot do that.
If the OP really does not know shite about wagering he needs to stop now. you have to treat this as a business. use zero emotion. most cannot do that.
Posted on 2/13/22 at 9:44 am to AndyJ
I've never been a sports better, but I've enjoyed throwing $20 here and there at games I would have never been interested in.
I'm playing with house money. When my balance goes to $0, I will delete the app.
Folks who have no discipline and live beyond their means will lose their arse and then some.
I'm playing with house money. When my balance goes to $0, I will delete the app.
Folks who have no discipline and live beyond their means will lose their arse and then some.
Posted on 2/13/22 at 10:59 am to Fat Bastard
quote:
If the OP really does not know shite about wagering he needs to stop now. you have to treat this as a business. use zero emotion. most cannot do that.
Thank you for saying this.
I enjoy watching sports. It's a break for me. If I had money riding on games... it would either change how I watch the games, and/or my relaxation with games would cause me to make bad betting decisions.
And that's why other than the occasional $5 bet at a casino on a game... I stay the way. I don't have the apps them.
Posted on 2/13/22 at 11:02 am to AndyJ
My understanding is that basically the "bonus" is site credit that you can't directly withdraw. You may also be limited with how much of the credit you can use per bet.
So say you bet $100 of your credit and win $400. You can withdraw the $400 (less fees) but not the $100. You keep the $100 and can bet it again.
Eventually you lose all the free bet credit and if you shut it down at that time you will be fine.
But many people won't shut it down.
That's how it was explained to me... again... I'm not a gambler so if someone knows I'm wrong please correct me.
So say you bet $100 of your credit and win $400. You can withdraw the $400 (less fees) but not the $100. You keep the $100 and can bet it again.
Eventually you lose all the free bet credit and if you shut it down at that time you will be fine.
But many people won't shut it down.
That's how it was explained to me... again... I'm not a gambler so if someone knows I'm wrong please correct me.
Posted on 2/13/22 at 11:38 am to AndyJ
They are paying for future access to you. Now they have your phone number, emails, address, etc. they are banking on you putting more money in down the road.
Posted on 2/13/22 at 11:56 am to LSUFanHouston
That's not how it works.
Free bets are basically site credit. We will assume even money odds (+100) for ease in the examples.
Say you are given a $100 free bet, you place a bet with that you are returned $100 cash and the free bet is now gone compared to placing a $100 cash bet which returns $200 ($100 wager and $100 winnings).
Win or lose, you do not get to use the free bet again.
Free bets are basically site credit. We will assume even money odds (+100) for ease in the examples.
Say you are given a $100 free bet, you place a bet with that you are returned $100 cash and the free bet is now gone compared to placing a $100 cash bet which returns $200 ($100 wager and $100 winnings).
Win or lose, you do not get to use the free bet again.
Posted on 2/13/22 at 11:57 am to AndyJ
Caesars is pushing a good promo for those who aren't interested in future betting though.
New users place a $50 wager, win or lose they give you a $250 Uber eats gift card.
New users place a $50 wager, win or lose they give you a $250 Uber eats gift card.
Posted on 2/13/22 at 12:12 pm to AndyJ
Stay away from it all. Spend time with your friends, family, etc. Pick up a healthy hobby. Gambling is just another addiction problem.
Posted on 2/13/22 at 12:24 pm to AndyJ
The bonuses usually have unrealistic playthru requirements in order to withdraw....like for example
Deposit $100, and WE WILL GIVE YOU $100 ABSOLUTELY FREE!!!!
-requires $10,000 in wagers to be able to withdraw
(ETA: apparently the new legal sites are not like this, I stand corrected)
Also your actual deposit will go to all your losses first, so at the end after a few losses, your bonus funds are all that left.
I've used bitcoin for over a decade to deposit into offshore sites, and I bet on pretty much anything I'm watching, but it's like 1 to 5 dollar bets just to add a little spice and interest. Haven't made a single withdrawal
However if I had just bet on mma and not football and basketball (being a pels fan is rough), I'd be up by a little. Ufc was so easy back in early 2010s when no one knew who anyone was. I usually pick most of the card in a parlay and then box it a thousand times in every combination by 2s, 3s, 4s, 5s, etc for like 0.10 to 0.25 cents a bet. Makes it really exciting if things start going your way over the course of the card because winnings get exponential, and as long as you get half of them right, you'll usually net out pretty even.
It's harmless if it's small, it's a really stupid way to try to make "gains". Odds are so stacked against you.
Deposit $100, and WE WILL GIVE YOU $100 ABSOLUTELY FREE!!!!
-requires $10,000 in wagers to be able to withdraw
(ETA: apparently the new legal sites are not like this, I stand corrected)
Also your actual deposit will go to all your losses first, so at the end after a few losses, your bonus funds are all that left.
I've used bitcoin for over a decade to deposit into offshore sites, and I bet on pretty much anything I'm watching, but it's like 1 to 5 dollar bets just to add a little spice and interest. Haven't made a single withdrawal
However if I had just bet on mma and not football and basketball (being a pels fan is rough), I'd be up by a little. Ufc was so easy back in early 2010s when no one knew who anyone was. I usually pick most of the card in a parlay and then box it a thousand times in every combination by 2s, 3s, 4s, 5s, etc for like 0.10 to 0.25 cents a bet. Makes it really exciting if things start going your way over the course of the card because winnings get exponential, and as long as you get half of them right, you'll usually net out pretty even.
It's harmless if it's small, it's a really stupid way to try to make "gains". Odds are so stacked against you.
This post was edited on 2/14/22 at 10:55 am
Posted on 2/13/22 at 12:28 pm to Pendulum
quote:
requires $10,000 in wagers to be able to withdraw
This is not true.
This was with the old shady sites (bovada, betnow, betdsi, etc.) But not with the legit, legal apps now (Dk, FanDuel, betmgm, Caesars, etc...)
Posted on 2/13/22 at 12:44 pm to Displaced
Well that's nice then.
Posted on 2/13/22 at 12:54 pm to AndyJ
When I was a little boy...many moons ago...
I was taught about drug dealers. They always offered the first one for free. Then you were hooked!
I suppose there are some parallels here.
I was taught about drug dealers. They always offered the first one for free. Then you were hooked!
I suppose there are some parallels here.
Posted on 2/13/22 at 1:19 pm to ItzMe1972
quote:
When I was a little boy...many moons ago...
I was taught about drug dealers. They always offered the first one for free. Then you were hooked!
I suppose there are some parallels here.
Not a slight against you, but I love when I heat this explanation from the 300lb puritans who dip all day and drink 12 beers every night.
Posted on 2/13/22 at 7:17 pm to AndyJ
No catch. These books average around $400 new customer acquisition cost. Just be smart.
Posted on 2/13/22 at 9:43 pm to AndyJ
I tried to go to some of the other betting sites to get more free deals, but they require you to actually deposit money first (link bank accounts). Pass.
My $400 is now $200. I made 4 $100 bets. 1st TD would be jamar chase. Rams first possession would be FG. And Bengals 1st possession TD. Fail.
I put $100 on the coin toss and won! I don’t care about the $400 honestly. I mean obviously you can’t just withdraw it, because that’s what I would have done. Instead I bet on random stuff just trying to make a little money. I’ll make 2 more $100 bets, likely lose, and then I’m out.
My $400 is now $200. I made 4 $100 bets. 1st TD would be jamar chase. Rams first possession would be FG. And Bengals 1st possession TD. Fail.
I put $100 on the coin toss and won! I don’t care about the $400 honestly. I mean obviously you can’t just withdraw it, because that’s what I would have done. Instead I bet on random stuff just trying to make a little money. I’ll make 2 more $100 bets, likely lose, and then I’m out.
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