Low odds on a particular bet may deter bettors from having a punt because the returns are simply too small to make the risk worth their while. Occasionally bookmakers will lend a helping hand by providing enhanced odds on offer to far greater than their true worth. Read on to find out all about enhanced odds and see which bookies are offering them today.
Cases where there are better odds being offered than what we assess as their true worth, are normally referred to as a good value bet. However, in this case the bookmaker is well aware that they’ve upped the odds far beyond an accurate price - these are known as enhanced odds.
But why would a bookmaker make enhanced odds offers? And are they as good as they seem? All the information you need about enhanced odds can be found in our handy guide below.
What Are Enhanced Odds, Really?
There’s no catch to what’s on offer; bookmakers really are giving you the chance to bet for a return which is far greater than the standard odds. However, there is a method in their madness. Enhanced odds are generally a loss-leading marketing ploy to get new customers to sign up.
With lots of online bookies in the UK marketplace, there’s fierce competition for bettors. One way to stand out from the crowd is to make an offer that will beat all the rest, hands down.
Bookmakers know that once a customer has signed up and gone through the rigmarole of providing ID there’s a good chance they’ll stick around. This is the reason why existing customer offers are rarely as lucrative as the ones being offered to new customers.
This doesn’t mean that existing customers won’t get offered enhanced odds, but the boost won’t be as high. A typical enhancement for an existing customer may simply be pushing a 10/1 bet out to 12/1. Sure, every little extra counts but it’s nowhere near the high value of new customer sign-up deals.
You will find bookmakers offering enhanced odds around major sporting events like Cheltenham Festival, Royal Ascot and Aintree. This will normally be enhanced odds on a favourite horse to win it’s race. Also look out for football betting offers from bookies offering enhanced odds. A favourite during the World Cup is enhanced odds on England to win the tournament. Stakes will often be small, but the odds are normally boosted 10-20X the normal odds.
Should Enhanced Odds Always Be Accepted?
With such a great deal on the table, it’s very tempting to grab it with both hands. And enhanced odds certainly do represent great value compared to the standard odds. However, not all bookies are as competitive in every market and it depends by how much the odds are being enhanced.
It’s possible that by looking around you could find regular odds that are better than the enhanced odds being offered.
The other thing to bear in mind is that bookies usually have sign-up offers for new customers. As a general rule, you won’t be able to receive their standard deal plus enhanced odds - you’ll need to pick one or the other. It may be that the enhanced odds work out in your favour but it’s just as likely that their standard deal is as good. Weigh up the different deals available and calculate which one will give you the best returns. Once you’ve accepted the enhanced odds deal it’s too late to change so a bit of homework in advance will go a long way.
New bookmakers will quite often use large sporting events to offer enhanced odds promotions for new customers. Look out for these at the start of the Premier League. We’ve seen enhanced odds on certain teams to win their first fixture of the season, in the hope that you will continue betting with them throughout the campaign.
When Should I Accept the Enhanced Odds?
With so many bookies offering incentives, it can be tempting to hang on and see if anything better comes up. However, if you wait for too long you might find that the enhanced odds are no longer available.
Bookies may advertise a deal for a certain period but they always reserve the right to withdraw it sooner than planned. In many cases this is necessary for loss-leading deals such as free bets or enhanced odds.
The moral of this story is that if you find a deal on offer that you really like, such as enhanced odds, it’s usually a good idea to claim it while you can. If you delay it could easily slip through your fingers and you’ll end up kicking yourself for not acting sooner.
A few little things to watch out for
When enhanced odds are offered, it really is a genuine deal that’s worth considering. However, there may be some small print attached that could change the value of what you are getting.
Here are a few little details that you should always check for:
- Maximum bet. The bookies are giving you money for nothing so they’ll want to cap the amount you can claim. Expect to have a ceiling imposed on the bet, typically around a tenner as the top limit.
- Specific deposit methods. Bookies aren’t as keen on punters paying via Skrill or other alternatives to traditional banking. Quite often to get the deal you’ll have to pay money in using your own bank account.
- Geographic limitations. Players in the UK should be fine but anyone betting from abroad could find themselves excluded.
- How will you receive your winnings? You might be expecting to receive cash if you win but some bookies will only pay out as a credit for another free bet. This bet often has its own conditions attached so you could end up getting much less value than you hoped.
- Sneaky bookies may underprice the bet at the beginning so they can “enhance” it without losing too much cash. You think you’re getting a good deal but in fact you’re just getting the proper odds that you should have been offered anyway!
A final word on price boosts, another bookmaker incentive that sounds very similar to enhanced odds. A price boost also increases the odds that you’ll receive but the criteria are slightly different.
A price boost is typically available to both new and existing customers but won’t usually be quite as generous. In addition, to qualify for a price boost there’s normally more than one event on the betting card. This will vary from one bookmaker to another but as a general rule, to get the price boost you’ll have to score a win on both the betting events. For football this could be as simple as a player to score and a team to win; two bets which when combined lift the odds.
Find Enhanced Odds Today
To take advantage of the latest enhanced odds deals, you’ll need to be quick. Yesbets has all the latest offers and promotions from UK bookies to get you the best deal around.