Shadetree42
Shadetree42
Joined: Sep 16, 2020
  • Threads: 1
  • Posts: 3
September 16th, 2020 at 7:04:44 PM permalink
Can anyone go over the best way to play each of these bonus types:

1) Free play (you keep your winnings, but the amount of the bet is not returned)

2) 100% loss rebate (you get refunded if you lose)

I assume for a free play, it's best to go for the highest odds allowed? Not sure about the loss rebate.

THanks!
Mission146
Mission146
Joined: May 15, 2012
  • Threads: 123
  • Posts: 12837
September 17th, 2020 at 4:45:49 AM permalink
Quote: Shadetree42

Can anyone go over the best way to play each of these bonus types:

1) Free play (you keep your winnings, but the amount of the bet is not returned)

2) 100% loss rebate (you get refunded if you lose)

I assume for a free play, it's best to go for the highest odds allowed? Not sure about the loss rebate.

THanks!



1.) You'd pretty much just play whatever has the best expected return available. You could also focus on expected return and low variance if you prioritize a more closed range of possible results. Also, if low variance is important to you, for one reason or another, then perhaps you wouldn't play the game with the best expected return.

Honestly, I'd have to know everything they had to recommend anything specifically. Generally, card-based games.

***Also, some games you could intentionally take a small loss for guaranteed return on the free play, but most casinos will not allow those games to be played on free play.

2.) Shoot for the moon with huge bets and high variance to try to score a huge win and grind it back if you lose.

I'm not going to go into too much detail, but you can also look for opportunities on games that, "Offset," by having someone with you play the other side of the game---I would say that these games often don't apply, though, depends on the casino...if they even have them at all.

There are even better ways to do it than that, but I can't really talk about them.
Vultures can't be choosers.
OnceDear
Administrator
OnceDear
Joined: Jun 1, 2014
  • Threads: 44
  • Posts: 4456
September 17th, 2020 at 4:54:02 AM permalink
https://wizardofvegas.com/member/oncedear/blog/2/#post1703 has some links out for loss rebates. The clincher is repeatability of the rebate. If it's daily, you can afford to make one long shot bet per day getting the highest EV. If you mitigate the variance, by making short odds wagers, you soon lose any EV to the house edge. You need to minimise 'action' as each wager is subject to house edge.
Last edited by: OnceDear on Sep 17, 2020
Take care out there. Spare a thought for the newly poor who were happy in their world just a few days ago, but whose whole way of life just collapsed..
darkoz
darkoz
Joined: Dec 22, 2009
  • Threads: 235
  • Posts: 7061
September 17th, 2020 at 6:33:57 AM permalink
Quote: Mission146

1.) You'd pretty much just play whatever has the best expected return available. You could also focus on expected return and low variance if you prioritize a more closed range of possible results. Also, if low variance is important to you, for one reason or another, then perhaps you wouldn't play the game with the best expected return.

Honestly, I'd have to know everything they had to recommend anything specifically. Generally, card-based games.

***Also, some games you could intentionally take a small loss for guaranteed return on the free play, but most casinos will not allow those games to be played on free play.

2.) Shoot for the moon with huge bets and high variance to try to score a huge win and grind it back if you lose.

I'm not going to go into too much detail, but you can also look for opportunities on games that, "Offset," by having someone with you play the other side of the game---I would say that these games often don't apply, though, depends on the casino...if they even have them at all.

There are even better ways to do it than that, but I can't really talk about them.



If I am reading the OP correctly you keep your winning but NOT THE ORIGINAL BET

It's rare but I know at least one casino that did that (players were so pissed the casino had a big campaign when they switched over to normal freeplay)

So if I understand it correctly if you have $100 freeplay and after playthrough you have $101 you now can cash out the $1.

If you had $100 or less left you cash out nothing.

Offset games if allowed won't work with this scenario obviously

(I understand the mentality behind it. If you used your own cash you literally would have earned only that same $1. They are giving you a free shot to win that $1 so what's the problem.

But the cats out the bag and the demoralizing aspect (seeing $101 of which only $1 is collectible) pretty much ruins any enticement and good feeling between the customers

EDIT: no sorry offsetting absolutely would work if allowed using a two persons team as one side would have say $200 left to cash out $100( I would avoid the hedge bet in that scenario)

Best return is probably a $100 machine (or highest spin amount to be found) and just do one do or die spin. Hopefully you hit a bonus round and cash out a few thousand
Last edited by: darkoz on Sep 17, 2020
For Whom the bus tolls; The bus tolls for thee
Shadetree42
Shadetree42
Joined: Sep 16, 2020
  • Threads: 1
  • Posts: 3
September 17th, 2020 at 1:44:12 PM permalink
This was meant to be posted in the sports betting forum, so let me clarify.

1) Free play. Sportsbook gives you a bonus $100 to make a single bet on sports on any kind. You keep winnings, but do not keep the $100.

2) Loss rebate. Sportsbook allows you to make a single sports bet of up to $100 which they will refund if you lose.


Assume all bets have same house edge.


For #1, I am nearly certain the optimal play is to bet the largest odds if you don't care about variance, or if you do, to bet large odds than you can hedge at another book.

For #2, I am not sure.

Again, sports only, single bets only.
sabre
sabre 
Joined: Aug 16, 2010
  • Threads: 2
  • Posts: 885
September 17th, 2020 at 3:10:07 PM permalink
Bet huge underdogs to maximize your chances of a loss. Why would you do anything else?
Shadetree42
Shadetree42
Joined: Sep 16, 2020
  • Threads: 1
  • Posts: 3
September 17th, 2020 at 3:27:38 PM permalink
Quote: sabre

Bet huge underdogs to maximize your chances of a loss. Why would you do anything else?



I would agree. But I just read someone sharp on twitter saying the two bonuses require very different strategies to maximize, and was wondering what he meant(?)
Mission146
Mission146
Joined: May 15, 2012
  • Threads: 123
  • Posts: 12837
September 18th, 2020 at 4:00:36 AM permalink
Itís all good, thought you meant slot free play, my entire response can be ignored, but Iíll leave it as itís useful for normal slot free play.

I would call what youíre discussing a, ďFree bet,Ē to avoid confusion, but itís no big deal.
Vultures can't be choosers.
Mission146
Mission146
Joined: May 15, 2012
  • Threads: 123
  • Posts: 12837
September 18th, 2020 at 4:10:11 AM permalink
Quote: Shadetree42

This was meant to be posted in the sports betting forum, so let me clarify.

1) Free play. Sportsbook gives you a bonus $100 to make a single bet on sports on any kind. You keep winnings, but do not keep the $100.

2) Loss rebate. Sportsbook allows you to make a single sports bet of up to $100 which they will refund if you lose.


Assume all bets have same house edge.


For #1, I am nearly certain the optimal play is to bet the largest odds if you don't care about variance, or if you do, to bet large odds than you can hedge at another book.

For #2, I am not sure.

Again, sports only, single bets only.



I can tell you what I might do with #2, Iíd do a parlay card on the one site with the rebate if youíre allowed and shoot for the moon. On a different site, Iíd hedge with a straight spread bet that contradicts one leg of the parlay in a way that a push is not possible, so a spread on a half point result.

If you win the parlay, you lose the hedge, but itís obviously a good win. If you lose the parlay, then you win the bet on the other site and (nearly) free rolled the parlay. Youíll then get your $100 in bets for losing on the parlay, which I assume does not need to all be bet at once.

To be clear, this is just shooting from the hip and is probably not the best way. Iíve never really analyzed such a scenario, but perhaps I should.

Either way, as long as you donít have to bet the rebate all at once, it seems like youíd be virtually guaranteed to profit something no matter what.
Vultures can't be choosers.
MrGambles001
MrGambles001
Joined: Sep 21, 2020
  • Threads: 1
  • Posts: 6
September 21st, 2020 at 6:41:45 PM permalink
I have always been a free play whore. I go big with it, so that rolling it over is never a problem if i win. Usually +200 dog I feel can win and bet the max

  • Jump to: