Sportsbooks love to offer odds boosts to get you in the door.
But are these bets actually worth it?
What is an Odds Boost?
Odds boosts are feature that allows bettors to receive a greater payout for specific lines offered by the sportsbook. These bets can vary from a spread or money line bet, to even various props or parlays. Typically odds will be increased by 10% to 25%, but there are special promotions where odds are sometimes even doubled in value.
Odds Boost Restrictions
Due to the positive expected value of some specific boosts, sportsbooks will often limit the amount of money bettors can wager on this specific bet type. Typical bet limits fall in the $10 to $50 range, although each sportsbook may differ.
Are Odds Boosts Worth It?
It all depends on the odds that are being offered. Yes, some boosts are indeed a great bet. But this isn't true for every boost. There are some boosts that are such long shots that even when they are boosted, they are not worth betting. Only if the odds boosts result in +EV (positive expected value), are they worth betting on. Do not fall into the trap of playing odds boosts because they are available. Do some calculations and determine if they are worth wagering on. Typically this would involve you checking prices at other sportsbooks to ensure that this odds boost is actually the best price available in market.
Can I Bet on Both Sides of an Odds Boost?
Usually, sportsbooks do not allow you to bet on the opposite side of an odds boost bet. But this doesn't mean you can't place the second bet on a different sportsbook. Betting on both sides of a bet to guarantee yourself a positive net is known as arbitrage betting.
Spotting arbitrage opportunities may be rare, but they do exist. If the sum of the odds of both of your bets are positive, the opportunity is possible. Let's say the Rams are playing the Chiefs, and your sportsbook has boosted the odds. If the Rams to win is boosted to +200, and a different sportsbook is offering the Chiefs to win at -175, you can guarantee yourself a positive result by betting on both teams!
Do Your Homework!
Sportsbooks will often “boost odds” that are not a true boost. For example, your sportsbook boosted odds in the McGregor fight for him to win by KO. Take the time and shop for prices at other sportsbooks. If the boosted odds are not greater than what other sportsbooks are offering, then this is definitely not a true odds boost. By taking your time and doing a little research, you will be able to determine if an odds boost is truly valuable.
Circles Off
For more information on how to evaluate odds boost promos, check out Episode 4 of Circles Off where betstamp co-founder, Johnny, and betstamp co-owner, Rob Pizzola, break down what to look for.
