What is a Risk-Free Bet?
This is a bet that you can place and if you win, you win your bet as if it was a normal bet.
But if you lose your risk-free bet, you get a reward (such as a free bet, bonus, insurance).
How do I convert a Risk-Free Bet?
You can convert a risk-free bet by hedging a certain amount on another sportsbook.
Use the Risk-Free Bet Tool to find the best conversions.
The higher the HV%, the more profit you can guarantee.
And then plug those numbers into a risk-free bet calculator to see how much you need to bet on the other sportsbook in order to end up with the same profit, no matter which team wins.
If your Risk-Free Bet wins, there is nothing more you need to do.
If your Risk-Free Bet loses, you'll receive a free bet that you can then convert using the Free Bet Tool and a free bet calculator.
The risk-free bet calculator ensures the same profit, even if your risk-free bet wins or loses (and you receive a free bet that you need to convert).
What is a Free Bet?
A free bet is a token you can use to place a bet. If the free bet loses, it loses like a normal bet. If the free bet wins, you receive the profit from the bet, but not the stake.
For example, if you have a $100 free bet and you are placing it on +100 odds for a team to win.
A normal bet would show as a $100 profit if the bet wins, and a $200 payout ($100 profit + $100 of your initial stake).
A free bet would show as a $100 profit if the bet wins, and a $100 payout ($100 profit + $0 of your initial stake).
A free-bet does not return your stake if you win because it is a free bet.
How do I convert a Free Bet?
A free bet can be converted to guaranteed profit by hedging on another sportsbook to convert a % of the free bet to cash.
You can find the best free bet conversions using the Free Bet Tool.
You can then plug those into a free bet calculator to determine how much to wager/hedge on the other sportsbook.
Can I play both sides of a bet on the same sportsbook?
It is not recommended to play both sides of a bet on the same sportsbook. Some sportsbooks, such as Caesars, will promo ban people that hedge promos to guarantee a profit.
They will even ban if it is done from different accounts that are in the same household or linked in another way, such as affiliate codes.
It is also more profitable if you hedge on another sportsbook, as you will have better odds and be able to make for a better conversion, meaning more profit.
What is the Devigger?
The Devigger is a calculator that can estimate the value of a bet. If a bet has positive expected value, then there is no need to hedge it.
If you make 1,000 positive expected value bets, the law of large numbers states that you are much more likely to be in the positive, and hopefully close to the sum of your bets' expected value.
These bets are not guaranteed, however, so they tend to be much smaller bets than your hedging bets. I recommend you use Kelly Criterion to help determine how much to wager.
Help with using the devigger can be found on the Devigger's help page.
How do I file a complaint with a sportsbook?
If you won a bet or promo and the sportsbook is refusing to pay you, you have options. Since sportsbetting is regulated, you can file your complaint with your state's gaming commission.
You will want to include screenshots of terms, the bet and chats with the sportsbook's customer support. The more evidence that supports your argument, the better the chance you have to win.
Your argument should:
- State what you did (ie. I placed a bet for a promo in which betting $10 on the Kansas City vs Baltimore game as my first wager would earn me $200 if either team scored a touchdown (see attached for the promo and its terms)
- State what you did to satisfy the bet or promo (ie. I placed a $10 bet on the Chiefs moneyline as my first bet on the sportsbook and satisfied their promo's terms)
- State what the sportsbook did or failed to do (ie. The sportsbook did not pay me my bonus money)
- State what happened when you contacted the sportsbook (ie. The customer service agent said that the team you bet on had to win)
- State why you should win (ie. The promo stated in its terms/ad to
It also clearly stated "No Strings Attached!"
- Open a BetMGM Sports Account.
- Bet $10 on Kansas City vs Baltimore.
- Get $200 if Either Team scores a TD!)
- State what evidence you have to support your claim/argument (ie. I have the screenshot attached as evidence, including the chat log)
- State what actions you would like to have done in order to correct this wrong by the sportsbook (ie. I would like my bonus money credited to my account)
- Add any additional feelings you have about what the sportsbook did (ie. This is a clear violation of their gaming license and I would like to request that BetMGM's license be revoked. This is horrible and feels like a scam. I hate to think of all of the people that fell for for this scam as well.)
- End with a simple "Thank you." (ie. Thank you.)
If you need help with where to submit your complaint, based on your state, see here.
Where do I file a complaint with a sportsbook?
If you are filing a complaint with a sportsbook, each state has a different gaming commission to submit your complaint to.
Here is a tentative list of where to file your complaint to for each state:
If yours is not listed, please let us know in the CNM Discord and we will help to locate it for your state.
Have more questions?
The best place to ask questions is in the CNM Discord.