Why Are Casino Bonuses Always Bigger than Sportsbook Ones?
Ever wondered why casino bonuses tend to be 5x to 10x higher than sportsbook bonuses, even when they are being offered by the same site? In other words, why will highly rated Playtech casinos like 888 Casino offer you bonuses amounting to $888, but sportsbooks like 888 Sports offer you $88?
Casinos vs Sportsbooks
The reason that real money online casinos are able to offer so much in free bets is because casino games earn much more money for them. It is possible, if you know what you are doing, to win every bet that you place with a sportsbook. It’s a long-shot, but knowledge can get you a long way. However, that’s not the case with casinos and they are programmed so that while 1 player might win big, the majority will lose and that will ensure the house is always on top.
They have house edges that range from 1% or 2% and go all of the way up to 20% and beyond. This basically means that for every $100 bet, they can expect to make $1 profit if it’s 1% and $20 if it’s 20%. Not only are they guaranteed a profit, but they also know that even if you win big now, you will likely lose it all if you keep gambling. So they attach something known as a “play-through rate” to your account which means you need to risk the money you received many times over before you can withdraw it.
So, even if you are given a $200 bonus and go on to turn it into $2,000 in your first spin, the chances are high that you will have nothing left in your account when the play-through rate is finished, much higher than your chances of still having that $2,000 or more.
This is not the case for sportsbooks. They are easier to manipulate, there is no house edge of sorts (although they do hedge their bets to ensure profit) and the casino is able to calculate exactly how much money a free bet campaign will lose or earn them before they launch it.
You may have noticed that betting exchanges are even worse when it comes to offers. That’s because the betting exchange is not the one profiting from your bet. If you lose money on a sportsbook then that money goes to the company you’re betting with. If you lose on a betting exchange, it is pocketed by another player and the exchange itself only takes a very small percentage, often just 0.5 to 1%.
As a result, giving away huge free bets would only help their members to get richer and would be taking money straight out of their pocket. That is why you won’t see free bets bigger than $5 and $10 on betting exchanges and why most of them don’t have any at all.
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