Risk Free Bet: Hedging Incorrectly
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Risk Free Bets are refunded as Site Credit or Free Bets. Since they have different expected conversion percentages, Free Bet ~70% and Site Credit ~100%, it changes how you hedge. Using the wrong setting in a Bet Finder can result in missing out on profit. For all the examples below we will use the same team and odds for all scenarios and examine how setting the correct refund type impacts the final payout.
Key Takeaways
- Converting a Risk Free Bet is a one or two step process
- Step two is only needed if the Risk Free Bet loses
- It does not matter if the initial Risk Free Bet wins or loses, the profit is the same
- This guide focuses on what happens if you select the wrong refund type for Risk Free Bets
Examples
In all our Risk Free bet guides we use the example of
- Pistons Money Line at +305
- Raptors Money Line at -335
The proper bet amounts for a Site Credit refund are:
The proper bet amounts for a Free Bet refund are:
Incorrectly Choosing Free Bet Refund
Looking at our Site Credit refund guide we know that the hedge should be $2,349 and have a final profit of $701 no matter which side wins. Here we will look at hedging a Barstool Risk Free Bet refunded as Site Credit, but mistakenly hedging $2,580 as if it were a Free Bet refund as determined in this guide.
This results in uneven outcomes depending on which side wins. Illustrating why it is important to ensure you understand what your Risk Free Bet will be refunded as, and the impact on your profit.
Incorrectly Choosing Site Credit Refund
Looking at our Free Bet refund guide we know that the hedge should be $2,580 and have a final profit of $470 no matter which side wins. Here we will look at mistakenly hedging an MGM Risk Free Bet refunded as Free Bet, but mistakenly hedging $2,349 as if it were a Site Credit refund as determined in this guide.
This results in uneven outcomes depending on which side wins. Illustrating why it is important to ensure you understand what your Risk Free Bet will be refunded as, and the impact on your profit.