Second Chance Bet: Bonus Bet Refund
Bet Finder Introduction
If you are new to using Bet Finders on DarkHorse Odds start by reading our Tools and Features guides to learn how to use all the available features such as filters and editing your Bet Slip.
It is important to understand that Bonus Bet can be converted to cash at ~70%. Read more here.
Key Takeaways
- Converting a Second Chance Bet is a one or two step process
- Step two is only needed if the Second Chance Bet loses
- It does not matter if the initial Second Chance Bet wins or loses, the profit is the same
- This guide focuses on Second Chance Bets refunded as a Bonus Bet
- Use the DarkHorse Odds Second Chance Bet Finder to convert, and be sure to select the proper refund type
What is a Second Chance Bet?
If you do not have a general understanding of how Second Chance Bets start with our Introduction to Second Chance Bets guide before proceeding.
Second Chance Bets are bets that you place with your money, but if the bet loses you receive a refund. Here we will examine a Second Chance Bet that is refunded as a Bonus Bet.
Converting a Second Chance Bet
In all our Second Chance bet guides we use the example of
- Pistons Money Line at +305
- Raptors Money Line at -335
This example shows how to properly use the Second Chance bet Finder for the MGM $1,000 Second Chance Bet sign-up offer. The key takeaway is that it is refunded as a Bonus Bet. It is important to understand that a Bonus Bet can be converted to cash at ~70%. Read more in our How To Convert a Bonus Bet guide.
Enter Second Chance Bet Criteria
Select the Second Chance Bet Finder.
In all of our guides, we filter to “Main Lines Only” as a way to avoid limits. Limits will greatly reduce your long-term earnings potential. Learn the best practices on avoiding sportsbook limits in our Don't Get Limited guide. You can apply this by selecting Filters -> Main Lines Only. This is not required but highly recommended.
This sets Market Type to Money Line, Spread, and Total. It also sets Market Segment to Full Time+ and Full Time.
Select Your Matched Bet
Place Your Matched Bet
After selecting the bet you want, viewing the bet slip provides all the details needed to properly hedge ensuring maximum profit. In this example on MGM you would place the $1,000 Second Chance Bet on the Pistons money line at +305. Then place a $2,580 Hedge Bet on DK on the Raptors money line at -335.
Outcome Explanation
Clicking the information icon on the bet slip above displays further details explaining exactly how you profit $470 no matter the outcome of the event.
This is where it is important to understand that if the Second Chance Bet wins you profit $470 immediately. If the Second Chance Bet loses, you need to perform a second step, converting the Bonus Bet refund. Once you convert the Bonus Bet refund at an expected conversion rate of 70% you will profit $470.
