Enhanced Odds Offers Explained: It’s a Mutually Beneficial Relationship
The world of bookmaking has been turned on its head since the turn of the century - a time when online bookmaking began its relentless march to the fore. Internet betting meant punters were no longer restricted to placing their bets in betting shops, over the telephone or on a racecourse (be it horses or dog track).
There has been phenomenal growth in online betting since the ‘noughties’. More people are wagering online than ever and, in turn, more and more online bookmakers are chasing those new customers.
The latest and most effective recruitment tool in pursuit of new customers is enhanced odds betting offers which work like any good old-fashioned supermarket offer. They give you outstanding value for your money.
Who can ignore the headlines? Who can refuse the outstanding odds and prices this form of marketing offers? Even a Portsmouth fan would find themselves backing arch-rivals, Southampton, at 8/1 against Aldershot in a home FA Cup tie right?
More and more firms are choosing to use enhanced odds offers as their preferred way to attract new custom. It is proven to bring in more new punters and those new customers do not fare too badly from the outstanding prices they can get.
But there is one small bone of contention, the small print amongst many of these offers does show the maximum stakes are often very low and there in the maximum winnings are pre-determined. Conversely a more conventional ‘free bet’ offer for new customers does not limit the price or amount you can win with your bonus funds. When the merits of both offers are compared, there is little between them.
However enhanced odds betting offers are not only in place to attract new customers. Yes, this may be what we most associate them with, but these ‘price boosts’ also make fine promotional tools.
Countless bookmakers have introduced enhanced odds specials into their ‘daily offers menu’ for all customers, both new and old, and while there may be some restrictions on stakes, the potential to win considerably more than you would before the price of your selection was enhanced is unquestionable. Never forget, as a punter you are duty bound to attempt to get the best price about your bet.
Such betting offers are to the gambler/bookmaker relationship what bees/flowers are to cross fertilisation. It is a two-way mutually beneficial deal. Loyal customers receive the all-important ‘value’ with a price greater than it once was (or should be) while bookmakers get some all-important turnover.
However, there may be more to these enhanced odds offers than first meets the eye. Modern bookmaking is fully automated and for every race or competition the old enemy know exactly what their liability or profit is on each and every contestant.
The fabric and stitching remains however and the finest traditions of bookmaking state the best books are those with no liabilities and only profits regardless of the outcome. Naturally this is not an easy balance to strike and when a whale comes rowing in with a massive bet on one side to win a football match, such online bookmakers can find themselves doing the unthinkable, ‘gambling’.
God forbid online sportsbooks do that and so ‘enhanced odds’ are now employed to attract customers to the opposing teams (and the draw scenario) giving more liquidity to their book and helping to balance out liabilities and profits. Once again, it’s good for punters and it is good for the people that facilitate their bets and offer these boosted prices.