Sportsbooks "New Player" Bonuses Question(s)

[mr_rob]

Some sportsbooks have "bonus cash" match if your 1st bet loses like Barstool Sportsbook. Others have a free bet like Caesars. Say I lose on both sites as a new player on my first bet, is this a true statement for my free bet if it wins:

Barstool Bet: $1000 via bonus cash. To win: $950. Payout: $1950 USD fully withdrawable
Caesars Bet: $1000 via free bet. To win: $950. Payout: $950 USD fully withdrawable

Is that correct? Here are the terms:

https://barstoolsportsbook.com/promotions/new-player-bonus

https://www.caesars.com/sportsbook-and-casino/la/promo-details/?promo-uid=blt2cae33a5393bcc86

If I am correct, is there a second sports book like Barstool that I could use in Louisiana to arbitrage against Barstool to guarantee a cashout?

[SBR Andy]

Looks like once you play through it, the bonus cash is withdrawable. There are some restrictions in the terms, such as wagers must be at odds of -200 or greater.

10. Order of Funds Used for Wagering

All bonus cash awarded by the Sponsor is non-withdrawable upon receipt. When placing any wager from your Player Account, funds in your Player Account wallet are applied according to the following priority:

a. Real cash funds
b. Sportsbook bonus cash funds

Sportsbook bonus cash funds are eligible to be wagered in line with all the following requirements (“Sportsbook Play Through Requirements”) in order to be converted to withdrawable real cash:

- Sportsbook bonus cash awarded is subject to a one (1) time wager requirement, which is restricted to lines -200 or longer (Example -110, +100, +200), and is not eligible to be wagered on round robin betting.

- Sportsbook bonus cash can be converted to your real cash balance only after the following conditions are met: (1) a first-time deposit has been made by player with cash funds into their Player Account; (2) the amount of the bet(s) placed with real cash is greater than or equal to the total amount of any "Active" sportsbook bonus cash award; and (3) the bet(s) placed with sportsbook bonus cash settles as a win.

- If a player has a real cash balance less than the amount of "Active" sportsbook bonus cash, the player must wager sportsbook bonus cash in an amount greater than or equal to the total amount of any "Active" sportsbook bonus cash award to convert the balance to real cash funds.

- "Active" sportsbook bonus cash awards and any winnings generated from bets placed using that "Active" bonus cash balance that settle will remain in your sportsbook bonus cash wallet until the entire amount of that individual "Active" sportsbook bonus cash award has been wagered.

- Any unsettled bets wagered with sportsbook bonus cash from this Promotion prior to your first-ever cash deposit, that then settle as a win after your first-ever cash deposit, will automatically convert to real cash upon bet settlement.


11. Restrictions on Withdrawal of Funds

Bonus cash funds awarded are not transferable and cannot be substituted except in the Sponsor’s sole discretion. Bonus cash funds may only be used for wagering on your Player Account. Sportsbook bonus cash funds may be withdrawn from your Player Account once they have met all Sportsbook Play Through Requirements (defined in Section 10). Unless otherwise specified by the Sponsor, 100% of the sportsbook bonus cash funds awarded for this Promotion will be automatically withdrawn from your Player Account thirty (30) days after the last date you played through any portion of those funds, only if 100% of the funds awarded for this Promotion are not wagered through in their entirety.

[Optional]

Some sportsbooks have "bonus cash" match if your 1st bet loses like Barstool Sportsbook. Others have a free bet like Caesars. Say I lose on both sites as a new player on my first bet, is this a true statement for my free bet if it wins:

Barstool Bet: $1000 via bonus cash. To win: $950. Payout: $1950 USD fully withdrawable
Caesars Bet: $1000 via free bet. To win: $950. Payout: $950 USD fully withdrawable

Is that correct? Here are the terms:

https://barstoolsportsbook.com/promotions/new-player-bonus

https://www.caesars.com/sportsbook-and-casino/la/promo-details/?promo-uid=blt2cae33a5393bcc86

If I am correct, is there a second sports book like Barstool that I could use in Louisiana to arbitrage against Barstool to guarantee a cashout?

Is the "bonus cash" bet at Barstool made with the bonus money after your first bet loses?

[mr_rob]

Is the "bonus cash" bet at Barstool made with the bonus money after your first bet loses?

Thats what I am reading it. I only ever make 1 deposit of $1,000 and if the bet loses I bet 1000 bonus cash for a chance of winning (in my example $1950)

[Optional]

Thats what I am reading it. I only ever make 1 deposit of $1,000 and if the bet loses I bet 1000 bonus cash for a chance of winning (in my example $1950)

Then yeah, I agree with your math about the hedge