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Second Chance Bet: Site Credit Refund

Level: Beginner
Updated: May 15, 2024
2 min read

Bet Finder Introduction

If you are new to using Bet Finders on DarkHorse Odds start by reading our Bet Finder Basics guides to learn how to use all the available features such as filters and editing your Bet Slip.

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 Site Credit.

Converting Second Chance Bets

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 Barstool $1,000 Second Chance Bet sign-up offer. The key takeaway is that it is refunded as Site Credit. It is important to understand that Site Credit can be converted to cash at ~100%. Read more in our How To Convert Site Credit guide.

Example Second Chance Bet Promotion

*Note: Barstool uses the terms “Bonus Bet” and “Sportsbook Bonus Cash” as the refund if the Second Chance bet loses. Based on previous experience, Barstool will refund the Second Chance Bet as “Sportsbook Bonus Cash” which is what they call Site Credit.

Enter Second Chance Bet Criteria

Select the Second Chance Bet Finder.

Screenshot of the Bet Finder menu on DarkHorse Odds with Second Chance Bet highlighted Screenshot of the Bet Finder menu on DarkHorse Odds with Second Chance Bet highlighted

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

Choose the sportsbook you have the Second Chance Bet on, enter the bet amount, then select the refund type.

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 Barstool you would place the $1,000 Second Chance Bet on the Pistons money line at +305. Then place a $2,349 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 $701 no matter the outcome of the event.

This is where it is important to understand that if the Second Chance Bet wins you profit $701 immediately. If the Second Chance Bet loses, you need to perform a second step, converting the Site Credit refund. Once you convert the Site Credit refund at an expected conversion rate of 100% you will profit $701.

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