Could you be profitable with 10% rebate on all bets win or lose?

Had a guy who works with one of the top 5 sports books offer me 10% rebate on all sports bets (all sports) win or lose. Could you be profitable with this deal?

I bet baseball and some ufc but not enough I dont think to truly take advantage of it.

Any thoughts

Am I missing the obvious - suppose you can bet -110 (10/11 in UK terms) on either side then bet on two event. Suppose you won one and lost the other, each with a bet of $110 to win $100.
Your total bets were $220.
The first bet lost; the second bet won - so you got back $210.
Thus you're -$10 on the betting, but according to your post get 10% ($22) back.

It doesn't really work with other types of bets, such as multiples, where the House Edge (Book Value) is worse. Also it wouldn't be quite so good if the bonus was "free bets" or other [re]wagering requirements.

Quote: charliepatrick

Am I missing the obvious - suppose you can bet -110 (10/11 in UK terms) on either side then bet on two event. Suppose you won one and lost the other, each with a bet of $110 to win $100.
Your total bets were $220.
The first bet lost; the second bet won - so you got back $210.
Thus you're -$10 on the betting, but according to your post get 10% ($22) back.

It doesn't really work with other types of bets, such as multiples, where the House Edge (Book Value) is worse. Also it wouldn't be quite so good if the bonus was "free bets" or other [re]wagering requirements.

Just a straight 10% back is my understanding no rewager required. I will double check but I usually just bet $25 parlays