The online gambling industry is awash with promotions, bonuses, and special offers. It’s a fantastic time to be a gambler as the leading online sportsbooks battle to catch your eye and win your custom. One of the most popular deals available today is the enhanced odds offer.
If you wager on popular sports using your laptop or smartphone, chances are you've noticed this deal. But what exactly are enhanced odds offers in sports betting, how do they work, are they worth claiming, and how do you bag your share? We answer those burning questions and more in the latest addition to our vastly popular sports betting series.
In this article, Whop’s resident gambling expert, Frank Monkhouse, explains everything you need to know about one of the industry’s most popular deals.
Why Bookies Offer Promotions
Before getting into the thick of this article and explaining enhanced odds offers, let’s cover why these types of deals exist.
The sports betting field is one of the most competitive industries in the world, with the top names from the age of land-based sportsbooks competing with online-only and start-up bookies. With so much choice available at your fingertips, bookmakers know they must stand out from the crowd and convince you to join them over the competition. How do they achieve that and enjoy continued success? By giving you a better deal than the other firms.
Bookmakers offer a long list of promotions and special offers. Welcome bonuses convince players to sign up, deposit funds, and bet, while recurring deals help drive repeat business. Browse the market, and you’ll find a long list of promos, including deposit-matched free bets, risk-free bets, cashback, profit boosts, extra places each way, and more.
Enhanced odds offers are extremely popular with bettors and are widely considered to be the most generous deals around.
What are Enhanced Odds Offers?
Enhanced offers are promotions given by bookmakers to certain customers, usually at major sporting events like a horse racing meeting, the Super Bowl, the Stanley Cup, or a soccer cup final. These deals are often reserved for new customers creating an account with a bookie and placing their first bet, but that’s not always the case. For particularly popular events, a betting app may make enhanced odds available to all members.
A bookie’s trading and marketing departments will combine efforts to increase the odds of a popular selection in a major event. Enhancing the odds allows a bookie to promote themselves to a wider audience by giving extra value. It’s a deal that works well for both parties. If you’re backing a +400 shot at +800, you get the chance to win a handsome profit, and the sportsbook can promote the value on social media, on television, on websites, and in newspapers.
Are enhanced odds the same as odds boosts?
The terms enhanced odds and odds boosts imply the same thing—a higher price is available on your pick—but there are some subtle differences in gambling. The most obvious and common is that enhanced odds are usually much bigger than odds boosts.
Enhanced odds promos often ramp up the price to help a bookie get attention, and they are used as an effective marketing tool for attracting new players. Odds boosts are often slight price increases, often to ensure an app has the best odds in the market, sitting marginally ahead of the competition.
An example of enhanced odds could be +15000, about a +5000, with a maximum stake attached. An example of a price boost could be +5500 with no maximum stake in the small print. Enhanced odds are to help advertise a bookmaker, while price boosts offer slight value to customers.
How Do Enhanced Odds Offers Work?
Enhanced odds offers are fairly simple to understand. The traders working at a sportsbook will increase the odds available to certain customers, such as new players, their VIP customers, or, on special occasions, all registered players.
You will bet on your selection by adding a stake and confirming the bet. You then can’t cash out that bet, or you will forfeit the promotion. If your pick wins, your bet is settled at the higher price, and the profits are paid into your account balance, either in cash, or as free bet tokens, sometimes referred to as bet credits. But if your pick loses, the bookmaker keeps your stake.
Betting on a selection at enhanced odds is no more difficult than wagering on sports normally. The only difference you will notice is the higher payout hitting your betting balance if things go according to plan.
Using Enhanced Odds
If you receive an offer from your bookmaker of enhanced odds and you fancy getting involved, claiming the promotion couldn’t be simpler. You should first read the terms and conditions in full to ensure you have a proper understanding of the deal and then add the pick to your bet slip. You may receive a promo code which you should enter when confirming the bet, but this is rare these days.
If the enhanced odds offer was Real Madrid to win the UEFA Champions League, you’d log in to your betting app, locate the soccer tab, Champions League, and click the odds attached to Real Madrid to add to your bet slip. It’s fine if the standard odds are displayed, as your bookie will settle your bet at the higher price if Real Madrid lifts the trophy.
If you ever have a question regarding an enhanced odds offer from your betting app, you can contact the customer care team for more information and clarity. The easiest and quickest way to do that is through the Live Chat option. Simply open Live Chat and type your message into the chat box. A member of the team will reply through the same channel as soon as possible.
Which bookmakers offer enhanced odds?
The enhanced odds promotion has proven so popular with bettors that most major firms offer it on occasion. The bigger bookmakers have bigger budgets and better marketing departments, meaning they’ll offer deals more often than smaller firms.
It pays to register with as many major sportsbooks as possible to increase your chances of receiving an enhanced odds offer when betting on big events. Having accounts with multiple sportsbooks also gives welcome bonuses and access to the market's best price.
How do you evaluate enhanced odds?
The best way to properly evaluate enhanced odds is to check a respected betting odds comparison website. Open the page and find the sport, competition, market, and selection you wish to gamble on to see the odds offered by all bookmakers. When you have the full range of quotes, you can determine if the enhanced odds offered by your betting site are worth your attention.
Remember, just because a selection has enhanced odds doesn’t mean it will win, and you don’t need to jump at the chance to back it every time. Do some research into both the odds and the selection to determine if it’s a good bet or just marketing.
What’s the best sport for enhanced odds?
Enhanced odds promos are available on a wide range of sports but are particularly popular on horse racing, soccer, football, combat sports, and basketball. In most cases, a bookie will ramp up the odds on a short-priced or popular favorite to make it more appealing to bettors. Any sports fixture with a strong favorite works well for this type of promotion.
Enhanced Odds Examples
Let’s use the Super Bowl as our example. If everyone is betting on Team A to win and they are +5000 favorites, the best way for a sportsbook to stand out from the crowd is to enhance those odds. One firm could offer Team A at +8000 which will cause a stir in the industry and attract the attention of bettors. If you expected Team A to win and fancied a $20 bet, you’re much more likely to gamble at the higher price, taking +8000 instead of +5000.
Some firms reserve their enhanced odds offers for new customers, encouraging players to sign up, deposit funds, and gamble. In these situations, the enhancements are usually much larger and could go to +15000, for example. With the enhanced odds for new players, you’ll often find there’s a limit on the stake. That’s why we advise bettors to always read the small print before accepting a betting offer.
The T&Cs may say you can have the +15000 odds, but you can stake no more than $10. Another term we see often with these types of deals is that the winnings are paid in free bets rather than cash. A common mistake many bettors make is not reading the conditions. We understand that it takes time, and you’re eager to get your bet on at the higher price, but it’s important to fully understand the rules, and doing so will save you time in the long run.
Make the Most of Enhanced Odds with Whop’s Sports Betting Groups
Now you know what enhanced odds offers are and how to claim your share, it’s time to put that information to good use. Thankfully, Whop has you covered.
Join one of the many great sports betting groups on Whop for expert advice and predictions on major sporting events. There’s everything from horse racing picks at great odds to predictions on this season’s National Football League season.
Ready to connect with like-minded enthusiasts, get insider tips, and access top-notch strategies with enhanced odds offers to boost your winnings? Join a sports picks community at Whop today.
