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Not all sportsbook bonus offers are too good to be true.
In August 2006, online sportsbook Mansion.com made serious waves in the sportsbetting industry by offering what is widely believed to be the best sportsbook bonus ever.
A free shot at $1,000
Mansion basically offered bettors a free shot at $1,000 U.S. if they wagered $1,100 on the defending Super Bowl champion Pittsburgh Steelers to cover the spread in their 2006 NFL season opener. If the Steelers covered against the Miami Dolphins, bettors would be credited with their $1,000 win. If Pittsburgh failed to cover, Mansion said they would refund the wagers, leaving bettors with their original $1,100.
Bettors couldn’t lose. In fact, anyone who bet $1,100 on the Steelers at Mansion and then hedged the wager by putting $550 on the Dolphins at another sportsbook guaranteed themselves approximately $500 in profit – as long as Mansion came through on their word.
While some bettors were leery of the offer, many took advantage of it. Mansion closed the promotion after 5,000 participants signed up, leaving Mansion on the hook for $5 million in payments if the Steelers covered the spread.
Pittsburgh did indeed cover, scoring two fourth-quarter touchdowns to down Miami 28-17. And Mansion made good on their promise, paying all the Steelers backers within three days of the game.
What was Mansion’s motivation?
So why would Mansion stick their neck out by taking $5.5 million in action on the Steelers without any chance of profiting on the game?
Publicity, for starters. Talk about Mansion’s proposition dominated gambling chatrooms and message boards leading up to the game as bettors debated whether or not to take advantage of the opportunity. No advertising campaigns could have bought publicity like that. And, if the Steelers hadn’t covered, the promotion wouldn’t have cost Mansion anything.
Another reason was to attract new clients. While the offer was also open to current members, Mansion generated many new account sign-ups through the promotion. Mansion hoped that bettors would see how easy it was to use their website and keep betting with them after the promotion was over, just when football was getting into full swing.
Finally, Mansion had the money to back it up. Though the sportsbook would eventually close shop a couple years later, Mansion’s poker and casino site remains one of the more popular betting sites in the U.K.
Keep an open mind about bonuses
It’s okay to be skeptical when you are offered a massive bonus opportunity by an offshore sportsbook. Just make sure you don’t blindly dismiss every promotional offer that you see.
Because you’d sure hate to miss out on something like Mansion’s best sportsbook bonus ever in 2006.