Why Sportsbooks aren't keen on letting bettors cancel bonuses
Sportsbook Review occasionally receives complaints from online sports bettors who have had a change of heart after accepting a sportsbook bonus offer.
The players say that they want to cancel their bonus but that their online sportsbook is not allowing them to do so, and is insisting that they finish their agreed upon rollovers.
Who is right in this scenario? Should players be allowed to freely cancel bonuses that they deposited to accept whenever they so choose?
The answer is fairly simple - No, they should not be allowed to.
The reason is also simple. Let's say player A deposits $500 in exchange for a 50% bonus ($250) which is accompanied by a five time rollover requirement.
Player A proceeds to wager all $500 of his deposit on a side at even money odds (+100). From here, the player can employ the strategy that if he wins the bet, he will request to void the bonus and place a withdrawal, and if he loses, well at least he has the $250 bonus to continue wagering.
Okay, so why is this a problem? If the player could cut out of the bonus if he wins and only use it if he loses, the house is getting no action.
The purpose of bonuses
First-time account bonuses are a way to entice players to try out a new sportsbook. The deals are set so that a player has a reasonable chance of completing rollover if he wins a few percentage points more than he loses, and that the sportsbook at least has a fighting chance at turning a profit on the bonus program.
Sportsbooks would be disadvantaged if they let all players cut out of their bonus obligation whenever they so choose, and as such it is not customary for such concessions to be made.
Browse a list of 50+ sportsbook bonuses from online betting sites.