Hedging Strategy?

[barnstorm]

I want to move some funds from one sportsbook to another through a hedging strategy. I am trying to avoid a rollover requirement that requires me to play poker even though it was a sports bonus. Any suggestions? I could just take the opposite sides of a game and hope to get enough winners to move it to my preferred book. But that could end up costing a lot of juice. Any other ideas? Arbitrage with money lines?

 

[Bourn]

Have you concidered gambling as an option?

 

[barnstorm]

Have you concidered gambling as an option?

Not sure what you mean, or whether you were trying to make a joke. Yes I am looking for a gambling hedging strategy to move funds from one sportsbook to another without sacrificing a lot of juice.

Any advice?

 

[niltes]

it would be quite simple if you knew which side would win.
you bet the losing side at the book with too much funds
and the winning side at the place you needed the money.
of course, if you knew that, why even bet the losing side
anywhere? this is why the hedging/moving money strategy
is like gambling. now if one factors in the extra juice, even
considering optimum line shopping, and one can see how
this strategy is not an exciting option.

i assume that you took advantage of a big bonus to end
up in this position. as a general observation, sportsbooks
that offer large or attractive bonuses tend to have weaker
lines than books that don't offer such bonuses. what this
means using a hedging strategy of betting both sides is
likely to increase balances at the high balance (weaker)
sportsbook rather than decrease them as hoped. sorry.

 

[barnstorm]

it would be quite simple if you knew which side would win.
you bet the losing side at the book with too much funds
and the winning side at the place you needed the money.
of course, if you knew that, why even bet the losing side
anywhere? this is why the hedging/moving money strategy
is like gambling. now if one factors in the extra juice, even
considering optimum line shopping, and one can see how
this strategy is not an exciting option.

i assume that you took advantage of a big bonus to end
up in this position. as a general observation, sportsbooks
that offer large or attractive bonuses tend to have weaker
lines than books that don't offer such bonuses. what this
means using a hedging strategy of betting both sides is
likely to increase balances at the high balance (weaker)
sportsbook rather than decrease them as hoped. sorry.

Right. Good points. The only way to make up for the juice this would require would be to hit a couple or a few middles in the process of shopping lines between the two.

I had fully completed my rollover with BetOnline and tried to cashout. Then they said I had an old Poker bonus that I had lost but the rollover from it still applied and disallowed my payout. And they said the only way I could meet that was to play CASH Poker games. No sit and go tournament games - just cash games. That sucks. I don't want to risk my hard earned sports winnings against a bunch of poker sharks. So I thought, How can I move it to another sportsbook through hedging?

Thanks!

 

[Akillies]

it takes a long time but you can look for scalps to either move the money or work the rollover, you have to be patient and watch off market stuff like props .
its very unlikely you will beat bol to a move in any major sport

 

[barnstorm]

it takes a long time but you can look for scalps to either move the money or work the rollover, you have to be patient and watch off market stuff like props .
its very unlikely you will beat bol to a move in any major sport

I'd be happy to rollover more sports wagering, but they insist on poker rake to fulfill the old poker bonus. I'll try the hedging route and hope for a few middles to overcome the juice. I'll just have to pick my spots and fade teams on BOL and favor teams at a new Book.

 

[HarryCaray]

I'd be happy to rollover more sports wagering, but they insist on poker rake to fulfill the old poker bonus. I'll try the hedging route and hope for a few middles to overcome the juice. I'll just have to pick my spots and fade teams on BOL and favor teams at a new Book.

Find a good poker player to grind away the bonus for you at the cash tables, making a deal regarding winnings he might amass.

 

[barnstorm]

Find a good poker player to grind away the bonus for you at the cash tables, making a deal regarding winnings he might amass.

Yep, that's what I was thinking. I've got a nephew who's pretty good. I'll let him have at it. He only needs to break even while meeting the rake rollover requirement. Any winnings, he can have.

Thanks!