Second Chance Bet up to $500
A losing qualifying first wager is returned as a bonus bet up to $500.
- User
- New
- Type
- No-sweat bet
- States
- 2 eligible
- Availability
- Ongoing / not published
This offer is hidden from the active ledger until its terms and assumptions are reviewed again.
- Expected profit
- $162.5
- Working capital
- $500
- Reward fair value
- $375
- Capital efficiency
- 32.5%
After modeled cost and conditions
$500 total turnover
$500 maximum face value
$325 profit / $1k
Execution plan
What you need to do
Open a new account through the eligible offer and place the qualifying first cash wager. If it loses, receive a bonus bet equal to the stake up to $500.
- 01
Open a new account through the eligible offer.
- 02
Fund the intended first-bet stake.
- 03
Place the qualifying first cash wager.
- 04
If it loses, confirm and convert the bonus-bet refund.
Auditable estimate
How I calculated the estimate
I do not treat promotional credit as if it were cash because it still has to be wagered, can expire, and usually does not return the original bonus stake. The expected-profit estimate applies the stated conversion rate as an average value. I only show a best case, worst case, and standard deviation when the cash outcomes can be calculated from the offer itself; bonus-bet and site-credit outcomes need a specific wager or hedge strategy before that range is honest.
- 01
$500 bonus-bet refund × 75% conversion = $375 if the bet loses - 02
For EV only, the win branch is $450 cash and the loss branch applies $375 estimated refund value against the $500 loss - 03
1 use × 100% access probability × $162.5 per-use EV − $0 access cost = $162.5 expected profit
- Bonus conversion
- 75%
- Access probability
- 100%
- Fair win probability
- 50%
- Maximum stake
- $500
- Total turnover
- $500
- Outcome range
- Not modeled without a wager or hedge strategy
- Capital scope
- Required cash stakes only; optional hedge bankroll excluded
Fine print
Terms and restrictions
The second-chance refund is a bonus bet rather than cash and only applies to a losing qualifying wager.
- New customers only
- $500 maximum refund in Michigan and Pennsylvania
- Bonus-bet stake is not returned
- Other states have different caps or offers
I use expected value to make different promotions comparable, but the result is still an estimate rather than a promise about what any one person will make. Your outcome will depend on the wagers you choose, the odds available when you place them, how effectively you convert promotional credit, whether you are eligible, and the terms shown in your account, so confirm the displayed offer before depositing or wagering. If gambling stops being fun, call or text 1-800-GAMBLER.