FREE 1,000$,,.. wow...

[pittviper]

Not posting the link, as I don't believe it is aloud....

Pittsburgh Steelers 2006 Superbowl Champs Promotion

Simply visit the MANSION Sportsbook and place a minimum Point Spread (Handicap) bet of USD 1,100 to win USD 1,000 (or currency equivalent) on the Pittsburgh Steelers for their game on Thursday 7 Sep 2006. (00:30 GMT 8 Sep 2006)

If your bet is not a winner, MANSION will refund your losses of USD 1,100 (or currency equivalent).

This deal is too good to miss. There’s no better way to kick off the NFL season and no better place than at MANSION.

--------------------------------------------------------------------------
Someone explained why Mansion is doing this....

Remember that Mansion is going to hedge this off on other sports books as well, so even if they have 10,000 people place bets on this, that is a total of 10 million. It will only cost them about 10% of this amount for the promotion, and now they have 11 million that they are earning interest on for a week or so, and there are also 10k people with fairly large bankrolls on the site.

I assume Mansion is hoping that the Steelers cover the spread. This way there are 10k people with $2100 on the site, that is a total of $21 million, and it only cost them about $1 million to get that. If 25% of the people leave all the money on the site to play poker or bet games, and 25% withdrawal only their original stake of $1100 with everyone else withdrawing all $2100 then they have extra deposits of $7.75 million that they will earn interest off of.

If this money is put into play at a poker table, then they will earn rake from it, and generate new players, which is what this site needs. If the money bet in the sportsbook over the remainder of football season, they stand to on average make 10% per bet made. Being the house they expect to make money in the long run off of this promotion just by generating new customers. The only way it fails is if 90% of people withdrawal all funds immediately after the payout.

[pittviper]

I think I am going to do it.... then hedge it on Pinnacle.... guarenteed around 500$.. what do you guys think?

They have done this in the past with soccer (because they own a team)....
I think they are just attempting to get more people to visit their site, bet on sports and play poker... and they will either hedge the other side, or invest the millions they will make for this day....

PV

[robertg]

i saw this earlier, wonder what the rollover is.

[pittviper]

Originally Posted by robertg

i saw this earlier, wonder what the rollover is.

NO rollover... they give you the money, and you can withdraw right away.. they want you to keep it in the book though and lose...

PV

[pittviper]

A few people said that when they did this with the soccer, the money was payed out 3 days after the event took place.. but they received it in full and a couple withdrew right away, while a couple kept it in the book..

interesting none of the least.. and if you can scalp for a guarenteed 500$, NOT BAD!

BOL
PV

[Bobtheicon]

No rollover? Wow!!
I wonder what is to keep the unscrupulous from opening multiple accounts for this one guaranteed bet? There's gotta be some fine print.

[Bobtheicon]

...

[ryhenry09]

wow- just talked to live chat. From what i have found, there are no catches. You place a bet on Pitt -5 for 1100/1000, if it wins your balance is 2100, if it loses your balance is 1100. You can withdraw immediately if you want. No catch. Sounds good to me.

Thx for bringing this up PV

[boldt]

Sounds almost to good to be true.

what % do you think actually keep the money in after that first game?


Thats what thier goal is correct?

[ryhenry09]

Originally Posted by boldt

Sounds almost to good to be true.

what % do you think actually keep the money in after that first game?


Thats what thier goal is correct?

Im sure people do, some dont. Mansion is a good book, they are not some scrub shop off the street.
My guess is they know something, (Miami should cover or win). That is why you have to play Pitt. Also, they have added an extra point to the spread. Pitt is -4 almost everywhere and -5 here.

[Bobtheicon]

I guess we'd be stupid not to do this....
Its like a chance at a free dime with nothing to risk....

[uva3021]

If you can withdraw everything right away without restrictions, I'm game

[Bobtheicon]

What would the deposit/withdrawal fees (if any) be on this?

[pittviper]

Originally Posted by Bobtheicon

No rollover? Wow!!
I wonder what is to keep the unscrupulous from opening multiple accounts for this one guaranteed bet? There's gotta be some fine print.

bob, you have to show birth certificate etc. I had to fax a copy of it to them, and they asked for a few other things to prove you are who you say you are... if everything is not 100% accurate they will not allow you to participate in the contest, this keeps it from people having multiple accounts.. allthough you could get your girlfriend/wife, to open an account as well!

BOL
PV

[pittviper]

I have already deposited the money and placed the bet... I am not going to hedge the bet on pinnacle yet, as it is at +4.. I'll hope that it moves to -5 but I am going to shop around and see if I can find a +5, for a no risk...

with a 525$ hedge bet on Pinny... If Pittsburgh wins by 6 or more, you would win 475$, if Pittsbrugh wins by 4 or less or they lose, you would win 500$...

if Pittsburgh wins by 5, then it is a push, and finish even....

BOL
PV