Published: 15:40 30/11/2014
Freebets.com’s industry analysis into enhanced odds offers by online bookmakers reveals that Winner Sports claimed a third successive Enhanced Odds Bookmaker of the Month accolade in November.
This was in spite of Paddy Power significantly upping the ante with a number of highly tempting enhancements throughout November as an alternative to the standard welcome offer, whilst 888Sport had another good month and narrowly scraped into third place ahead of a number of improving competitors to complete the same top three as October’s report.
November was jam-packed with football matches; domestic and European club games along with Euro 2016 Qualifiers and international friendlies ensured there were plenty of events on which bookies could focus their enhanced odds offers. Horse racing saw a slight increase in coverage while Darts remained marginal, along with Rugby Union and Boxing.
The Top 4 Findings From Freebets.com November 2014 Enhanced Odds Offers Report
1. Winner ranked November 2014 Enhanced Odds Bookmaker of the Month ahead of Paddy Power in second place and 888Sport in third.
2. 10Bet’s ‘5/1 England To Beat Slovenia’ offer is rated Enhanced Odds Offer Of The Month for November 2014.
3. Paddy Power offered the largest odds enhancements in October with their ‘12/1 Spurs & Arsenal To Win’ & ‘12/1 PSG, Bayern Munich & Barcelona Treble’ offers sharing top spot.
4. Football decreased in coverage, but remained responsible for the majority of enhanced odds offers in November with 89% being focused on the sport ahead of horse racing which increased to 7%.
If you’d like to find out more about how enhanced offers work and how we calculate the value of enhanced offers, please read the relevant sections at the end of this article.
November 2014 Enhanced Odds Bookmaker Of The Month
There has been no let up for Winner Sports in their quest to offer punters a juicy enhancement, and the sheer volume of their price boosts in November saw them make it three-in-a-row for our monthly award.
Paddy Power’s offering improved considerably compared to last month, but Winner also covered additional events with enhanced odds offers to remain on top and the pair were out in front of the chasing pack once again.
888Sport edged Betvictor for third place, while 10bet, Coral and Boylesports were each within touching distance of the top three and one big offer from any of those firms could have put them into the top three in November.
The graph below is for enhanced odds offers which were paid in cash only and shows how far out in front Winner and Paddy Power were in November. We can see that there is not much to pick between the other bookies here, with Ladbrokes and Matchbook making a welcome appearance.
November 2014 Enhanced Odds Bookmaker Of The Month - Free Bet Payback Inclusive
When including enhanced odds that are topped up in free bets as opposed to withdrawable cash, Betfair once again top our chart. Promoting even more offers than Winner in November, they hold an impressive lead and remain a good proposition to regular punters who will benefit most from the free bets should their initial bet be successful.
We notice that 10Bet are making more offers and they have moved ahead of 888Sport for November with the help of the two best offers for the month, which we discuss in detail later in this article. Boylesports also improved from ninth in the pecking order to sixth, while Skybet made their first appearance with a tempting enhanced odds promotion.
The data below shows enhanced odds offers which were paid in both cash and free bets, with Betfair ahead of Winner and Paddy Power once again.
Enhanced Odds Offer Of The Month
10Bet made the top 10 in this section in our last report and have blown the competition away by promoting the best two enhanced odds offers in November as alternatives to their usual £200 welcome bonus.
Their winning offer of ‘5/1 England To Beat Slovenia’ represented a significant enhancement from the standard odds of 3/10, which also indicated that the punter was highly likely to place a winning bet when using the promotion. 10Bet also promoted ‘6/1 Spurs To Beat Stoke’ which came in just ahead of Betfair’s ‘4/1 Real Madrid To Beat Liverpool’ offer, while Winner and Paddy Power also featured in the top 10 along with Skybet’s enticing first foray into enhanced odds with their ‘4/1 Arsenal or Man utd Double Chance.’
The table below shows the top 10 enhanced odds offers when using our algorithm and features five individual bookmakers, equalling the highest amount of firms since our research began.
Biggest Odds Enhancement Of The Month
In this section we remove the probability of the punter placing a successful bet and look purely at which offer stood to pay out the most additional winnings.
Once again Paddy Power did not disappoint with six offers appearing in the top 10 and their ‘12/1 Spurs & Arsenal To Win’ and ‘12/1 PSG, Bayern & Barcelona Treble’ offers both representing potential extra winnings of up to £94 to share top spot.
Betfair’s ‘12/1 Scotland To Beat England’ promotion saw them tied in second place with a Champions League acca from Paddy Power offering up to an additional £90 return to first time punters.
Football has had the most enhanced odds coverage since our research began and November 2014 was no different with 89% of offers attributed to the sport. Premier League, Champions League and Europa League club competitions as well as international football resulted in a hatful of betting opportunities throughout November and bookies were keen to promote price boosts on key events during the month.
National Hunt Racing is now in full swing and major events such as the Paddy Power Gold Cup at Cheltenham and the Hennessy Gold Cup at Newbury saw a slight increase in coverage for horse racing offers.
The ATP World Tour Finals garnered some interest and resulted in 2% of enhanced odds offers being focused on Tennis, while Darts, Rugby Union and Boxing accounted for just 1% respectively.
About Enhanced Odds Offers
Enhanced Odds offers, sometimes also known as Price Boosts, are becoming an increasingly popular means of online bookmakers acquiring new customers. Many firms now use such promotions to either accompany or replace the more traditional free bet welcome offers altogether.
Here at Freebets.com, we decided to investigate which online betting operators provided the best proposition to any customers making use of any such promotions. In order to do so we devised a formula to factor in the maximum allowed stake, enhanced odds offered and probability of the punter placing a winning bet. It is on this basis that we decide which offer is best and in turn, which offer costs the bookmaker the most money.
How Enhanced Odds Offers Work
Having priced up a particular sporting event accordingly, the bookmaker will then offer enhanced odds on a selection or a number of selections from that event. The enhancement means that the punter taking up the offer stands to win more than they would by placing the bet at normal odds, should they be successful. An example of an enhanced odds offer is shown below.
At normal odds Arsenal are priced at 2/1 to beat Manchester United in the Premier League, meaning a £10 stake would return £30 if they win. The bookmaker may offer enhanced odds 4/1 Arsenal to beat Manchester United, which would return £50 from a £10 stake, giving a punter the potential to double their profit.
In most cases the bookmaker will put a cap on the amount a customer can stake at the enhanced odds (typically £10) any stakes above that cap have the remainder settled at the normal price. Bookmakers also tend to settle the bet at the normal price immediately before later topping up the customer’s account to reflect the enhancement, although this can vary depending on the company in question. Some firms also pay the enhancement as a free bet rather than as cash which can be withdrawn with no rollover requirements.
How We Calculate Value Of The Enhanced Offer
The value of the enhanced offer depends on the level of odds enhancement, the maximum stake and the probability of the offer being claimed. To illustrate if we use the same example as above £10 maximum stake enhanced odds offer was offering 4/1 on Arsenal to beat Man Utd, and the normal odds at the time of the offer for this bet were 2/1 (equivalent to 33% probability), the expected cost to the bookmaker of someone taking up this offer would be the enhanced odds (4/1 - 2/1 = 2/1 enhancement) x £10 x 33% probability = £6.66. This is the measure we have used to calculate which offers will cost the bookmakers the most, and are really are providing the best value to the punters!
About The Analysis
Freebets.com conducts in-depth analysis of Enhanced Odds offers promoted on the websites of leading online bookmakers every month. The list of monitored bookmakers reads; 10Bet, 188BET, 888sport, bet365, Betfair Sportsbook, Betfred, BetVictor, Betway, Boylesports, Coral, Ladbrokes, Paddy Power, Sky Bet, Sportingbet, Stan James, Titan Bet, Unibet, William Hill and Winner. The analysis focused specifically on Enhanced Odds offers and other promotions such as Money Back specials, bonuses, concessions and guarantees are not included.
In order to determine its Bookmaker of the Month for Enhanced Odds Offers, www.freebets.com uses an algorithm which takes into account the maximum permitted stake, chance of winning the bet, extra potential winnings from the enhancement and whether or not it is paid in free bets for all enhanced odds offers available that month.
The www.freebets.com team draws on over 50 years’ experience in the betting industry to attribute weightings for the various factors in the formula in order to provide comparative values to the complex array of promotions.
DISCLAIMER – whilst every effort is taken to prepare detailed and accurate information, any third party relying on this information does so entirely at their own risk.