How to Not Lose Your Deposit Match Bonus at Ohio Sportsbooks
Once you’ve got your Ohio deposit match bonus from the online sportsbook, how do you ensure that you don’t lose it? This is how to win.
Ohio has gone live with sports betting as of 2022. As with any state that legalizes sports betting, sportsbooks are flocking to Ohio and offering huge deposit matches for new users on their apps.
But what exactly is a deposit match and what does it matter to you, the bettor? And, most importantly, how can you ensure that you profit from one?
What is an Ohio Deposit Match Bonus?
Glad you asked! An Ohio deposit match bonus is a popular welcome offer used by many online sportsbooks. A deposit match means that the sportsbook gives free bets equal to the amount you deposit when you sign up.
This is the beginning of life beyond the Ohio sports betting promo code. You register an account with an exclusive promo code in order to unlock a deposit match bonus.
If they offer $1,000 deposit match, they will match your first deposit UP to that amount. So, if you put down $1,000, you get $1,000 free. If you deposit $150, you will only get $150 of that $1,000. Here is an example at DraftKings Sportsbook:
These are great deals. But, be mindful of play-through requirements that might make it difficult to hit the bonus. Also, be sure to make note of whether or not you receive the bonus in cash or free play.
Best Deposit Matches on the Market
Some of the best deposit matches available to bettors can be found at the following sportsbooks:
| Sportsbook | Deposit Match |
| FanDuel | $1,000 |
| BetMGM | $1,000 |
| DraftKings | $1,000 |
| Golden Nugget | $250 |
| Caesars Sportsbook | $1,250 |
| Unibet | $500 ($250 in NJ) |
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Legal States Offering Deposit Match Bonuses
As sports betting is not yet live in Ohio, you cannot claim an Ohio deposit match bonus yet. However, you can take advantage of them today in the following states:
- Arizona
- Colorado
- Illinois
- Indiana
- Iowa
- Kansas
- Louisiana
- Maryland
- Michigan
- New Hampshire
- New Jersey
- New York
- Tennessee
- Virginia
- Washington D.C.
- West Virginia
- Wyoming
There are more states where betting is legal with stipulations, but the above are fully legal with no asterisks. Ohio is set to join the party on January 1, 2023.
How to Most Safely Fulfil an Ohio Deposit Match Bonus
To take full advantage of an Ohio deposit match bonus, you should make sure to deposit the maximum allowed by the offer. If the sportsbook offers a $1,000 deposit match, you should deposit a full $1,000. This will ensure you get the most out of the offer. Obviously, if you aren’t able to for financial reasons, then don’t!
You Have Deposited – Now What?
Once you have deposited the full amount, check out which markets are available to bet on. Also make note of the odds restrictions and anything else that is outlined in the terms & conditions of the offer.
Yes, this is one of those times where reading the fine print is going to pay off! This is crucial because some sportsbooks have certain conditions that your bet must be made under in order to qualify for the promotion. You would hate to make a bet and find out it does not qualify for the promotion.
If you make several selections on your bet slip, the first one that qualifies for the promotion will be the one that counts.
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Least Risky Bets to Make
Now, you are probably wondering what the safest way to use your Ohio deposit match bonus is. Well, when it comes to betting, nothing is exactly safe. But there are certainly ways to limit your risks.
Ideally, you would be rich with an unlimited bankroll and you could bet the maximum allowable match amount and put it on the underdog. If you consider the deposit match to be essentially “free money”, you should put that extra money on an underdog and when they lose, you won’t care! If they win, however, you will get a huge ROI.
This is a good method to use when you are given a free bet by a sportsbook since you will only get the profit and not the stakes, but it also applies to the deposit match because a match essentially allows you to get a second chance.
Or, Look For the “Sure Things”
Another method is trying to find so-called “sure things” and bet on the maximum number of probabilities. The more bets you can place using your deposit match, the better, as it increases the number of chances you have to be successful.
If you want to play it safe, look for the shortest odds allowable. This is typically -200 or -250. If said bet winds up losing, you will get a second chance to pick a winner thanks to that deposit match. You will need to decide whether you should cut your losses or aim for a net gain.
Essentially, you need to make decisions if you want to throw down on another underdog or play it safe by betting on the favorite. Neither is right – it just depends on how risky you want to play with that bonus money. I mean, we all like to take the occasional risk. Don’t we?
So…
Truly the only way to make sure you have no risk is to make use of an arbitrage situation. This means you make multiple bets on the same event to guarantee you walk away with a profit.
You need to use different sportsbooks offering different odds on the same event. This sounds easy, but it actually requires a lot of strategy and is frowned upon, so we recommend not doing it.
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Where Are Oddsmakers Least Successful?
The sport in which oddsmakers are least successful in points spread making is college basketball. NCAA basketball is your best bet for making a decent profit without putting in too much work on your end. Isn’t that really the dream?
Specifically, using your Ohio deposit match bonus on non-conference in addition to small market college basketball is a great way to beat the oddsmakers.
Why? There are a ton of games, lots of soft lines, and it’s a good place to learn without losing so much money that you want to quit betting altogether.
The MLB is also a great place to start if you are interested in getting into sports betting without breaking the bank. Oddsmakers generally have set odds on games during the regular season and the run line (baseball’s point spread) offers a plus line for favored teams. That’s rare for other sports but is common with baseball.
All that said, oddsmakers don’t often make mistakes. But baseball and college basketball will be your best chance to at least come out ahead in most cases.
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