Hours, not days, remain until Super Bowl 59 between the Kansas City Chiefs and Philadelphia Eagles. The big game kicks off Sunday at 6:30 PM ET at Caesars Superdome in New Orleans.
We've compiled the best Super Bowl betting action and odds on Thursday to help you get extra value from our best bets, in which Kansas City remains a 1-point favorite.
What is a bonus bet?
A bonus bet is a reward that sports clubs give you for placing a bet. However, it's not as simple as it sounds because there are usually certain conditions, such as the bet must be placed on a certain type of bet, at certain odds or within a certain time frame.
How it works: If you get a bonus bet, you usually don't need to risk your own money for that particular bet. However, there may be restrictions placed on any winnings from a bonus bet. Example:
You sign up for a sportsbook and receive a bonus bet of $50. You decide to place a bonus bet on team A -3 with odds of -110.
If Team A wins and covers the spread, you win $45.45 (your $50 bonus bet turns into a $45.45 win at odds of -110).
However, your original $50 bonus bet will not be refunded to you - only the winnings.
Conditions to watch out for:
Wagering Requirements: Some bonus bets come with a wagering requirement, meaning you need to place a certain number of bets or transfer bonus funds a certain number of times before you can withdraw your winnings.
Minimum odds: Some bonus bets can only be used for bets with certain odds (e.g. -200 or higher), so you can't bet on a sure thing and get easy money.
Expiration date: Most bonus bets have an expiration date, so you need to use them within a certain period (e.g. 7 days).
What is odds enhancement (Enhanced ddds)
Odds enhancement is an advertising feature that increases the odds on a particular bet, making it more attractive to place. It is often used by sportsbooks to draw attention to a specific bet they want to highlight, such as a popular game or a major event like the Super Bowl.
How it works: a sportsbook can raise the odds on a particular outcome, making the potential payout much larger than with standard odds. The idea is that you're getting a better deal than usual. Example:
Let's say the regular moneyline for a game is Team A is -150 and Team B is +130. Sportsbook might offer an increase in odds to Team A -130 or Team B +160.
Original odds: If you bet $100 on Team A at -150 odds, you will win $66.67 if they win.
Increased Odds: If you bet $100 on Team A with odds of -130, you will win $76.92 if it wins.
In this case, the increased odds have increased your payout by a significant amount, making this an attractive bet.
Conditions to pay attention to:
Maximum bet: there is usually a limit to the amount you can bet with the enhanced odds (for example, the enhancement can only apply to bets up to $50 or $100).
Minimum bet size: in some cases a minimum bet size is required, for example, you must bet at least $10 for the odds to be applied.
Eligible Markets: Odds upgrades are often limited to certain games or bet types (e.g., moneyline odds on a particular NFL game or spread odds).
How to use sportsbooks promos and bonuses
1. Understand the terms and conditions
Before you take advantage of a promotion, read the terms and conditions carefully. Many promotions come with specific rules, such as betting requirements, minimum odds, or limits on allowable bets. Understanding these terms and conditions will help you avoid bets that may not qualify for withdrawal.
Example: Sportsbook may offer a $100 bonus bet, but you'll have to make it at odds of -200 or higher, or you'll have to wager the bonus bet a certain number of times (like 5x) before you can withdraw your winnings.
2 Look for low-risk opportunities (especially in the case of bonus bets)
Bonus bets are usually most profitable if you bet on low-risk outcomes. For example, betting on favorites or major market events (e.g. moneylines on high rated teams) will reduce your chances of losing your bonus bet.
Example: If you received a $50 bonus bet, instead of risking it on a high-risk bet (such as a prop or parlay), bet on a favorite with solid odds (e.g. -150). If the team wins, you get your winnings without risking your own money.
Raising the odds is designed to make certain bets more attractive. The trick is to take full advantage of the higher payouts while considering the risks. Sometimes odds are increased when betting on favorites, but other times they are applied to underdogs that may have a higher variance.
Example: Let's say an odds increase increases a team's moneyline from +120 to +150. If you are not afraid to take risks, such an increase can be a great opportunity to maximize your profits with a smaller bet. However, make sure you are still confident in the bet; increasing the odds does not change the probability of the outcome.
3. Stack shares whenever possible
Some bookmakers allow you to combine promotions - this means you can combine multiple promotions to get even more benefits. For example, you can combine a deposit bonus with a no sweat bet or use a cashback offer in conjunction with an odds promotion.
Example: If you are offered a 100 percent deposit bonus up to $200 and a $50 risk-free bet, you could deposit $200 to get the entire bonus and then make a $50 risk-free bet. This gives you several chances to increase your bankroll with minimal risk.
4. Take advantage of deposit bonuses and loyalty programs
Sports clubs often offer deposit bonuses to existing customers, especially after you make a deposit. This is a great way to top up your balance without having to deposit too much of your own money.
Example: If you get a 50 percent deposit bonus, you'll get another $50 in bonus funds when you deposit $100. This is effectively free money that you can use to place more bets.
In addition, many sportsbooks have loyalty programs where you earn points for every bet you place. These points can be redeemed for free bets, bonuses or other rewards.
5. Be aware of expiration dates
Many promotions and bonuses have expiration dates or time limits. It is important to plan your betting strategy so that you have time to use the bonuses before they expire.
Example: If you have a $50 bonus that expires in 7 days, try to use it within that time frame. Betting on a high probability outcome (such as a favorite) increases your chances of making a profit before the bonus expires.
6. Focus on popular markets to get easier payouts
Sportsbooks often apply promotions to certain types of bets, such as moneylines, point spreads or totals. By sticking to these more popular markets, you increase your chances of winning and make it easier to fulfill the terms of the promotion.
Example: Sportsbook may offer an odds boost on a moneyline bet on an important NFL game. Instead of betting on prop bets or long-term wagers, focus on this increased moneyline to maximize your payout while staying within the sportsbook's guidelines.
7. Manage your bankroll
Promotions and offers are great, but they shouldn't be the only reason you bet. It's important to have a solid bankroll management strategy to make sure you're betting responsibly and not chasing promotions just for the extra cash. Stick to your betting plan and use promotions to increase your value, not have them drive your decisions.
8. Take advantage of special events
Sportsbooks often run special promotions related to major events such as the Super Bowl, March Madness or the NBA Finals. These promotions are usually more lucrative and give you a chance at big payouts, free bets or cash bonuses. If you are betting during such an event, make sure you keep an eye out for these limited time offers.
Example: During the Super Bowl, a betting company may offer a $25 bonus if you bet on any game prop. This is an easy way to get extra money to bet while enjoying the event.
9. Stay in the loop with sportsbook newsletters
Many sportsbooks offer newsletters or mobile alerts that notify you of upcoming promotions, odds increases, and special offers. By signing up for these updates, you'll always stay in the loop and can quickly take advantage of any new opportunities.
