bookmaker enhanced odds report for july 2014

Paddy Power Named Enhanced Odds Bookmaker Of The Month For July 2014

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Paddy Power

• Paddy Power is named Enhanced Odds Bookmaker of the month for

July 2014 in the inaugural enhanced odds betting offers report by

online betting service Freebets.com.The Irish Firm, which has long

been established as a punter friendly bookmaker, came out just

ahead of Titanbet and Betfair in a month which saw many enhanced

odds offers being promoted to attract new customers. With the 2014

World Cup in full swing, many of the offers were related to football,

but there were still plenty of enticing price boosts for horse racing

punters to get stuck into on top of enhanced odds offers for other

sports.


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About Enhanced Odds Offers

• Over the last 12 months there has been a huge shift in the gambling industry

as more and more firms have started to use enhanced odds offers to either

accompany or replace free bets as a means of acquiring new customers.

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.While in

some cases existing customers can make use of certain price boosts, the

enhanced odds offers in this report were open to new customers only.


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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 England are priced at 2/1 to beat Italy, meaning a £10 stake

would return £30 if they win. The bookmaker may offer enhanced odds 4/1 England to beat

Italy, which would return £50 from a £10 stake, giving a punter the opportunity 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.


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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 England to

beat Italy, 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 = £10. 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!


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The Top 4 Findings

• Paddy Power ranked July 2014 Enhanced Odds Bookmaker of the Month ahead

of Titanbet in second place and Betfair Sportsbook in third

• Betfair Sportsbook’s ‘9/1 Telescope To Win The King George VI & Queen

Elizabeth Stakes’ offer is rated Enhanced Odds Offer Of The Month for July 2014.

• Paddy Power offered the largest odds enhancement in July with their ‘12/1

Colombia to beat Brazil’ offer.

• Football was responsible for the majority of enhanced odds offers in July with 71%

being focused on the sport ahead of horse racing with 18%.


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July 2014 Enhanced Odds Bookmaker Of The Month

• Paddy Power is named in top spot for July 2014 with enhanced odds offers from the

Irish bookie providing a higher cumulative value to first time punters throughout the

month. Despite not appearing in the top ten for Best Enhanced Odds Offers, the firm

did provide the biggest odds enhancement in July 2014 with their ‘12/1 Colombia to

beat Brazil’ offer and persisted to welcome new punters with great value price

boosts throughout the month.A major factor in Paddy Power and indeed Titanbet

coming in ahead of Betfair was that many of the latter’s enhanced odds offers were

paid in free bets, thus offering a less attractive proposition to the customer. In our

analysis of the overall enhanced odds bookmaker of the month we have excluded

those paid in free bets. The graph below shows only offers paid in cash and we can

see that the three bookmakers we’ve mentioned were stand out performers for

enhanced odds offers in July 2014 against their competitors.


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July 2014 Offer Value by Bookmaker


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July 2014 Enhanced Odds Bookmaker Of The Month - Free Bet Payback Inclusive

• When including enhanced odds offers paid in free bets, Betfair make a

remarkable jump from third to first place, eclipsing Paddy Power with

more than double the amount of value on offer in July 2014. This data

shows that Betfair are making a conscious effort to increase their

customer base using enhanced odds offers. Regular punters may well

be happy to utilise one such offer, whereas the one time bettor could

be put off by the need to place further bets before being able to reap

the benefit of the enhanced odds. This could be part of Betfair’s

thinking as they will naturally be hoping for repeat purchases on the

back of such generous offers.


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July 2014 Offer Value by Bookmaker (including free bet payback)


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Enhanced Odds Offer Of The Month

• Betfair’s almost relentless approach lead to them providing the opportunity for new

customers to avail of a price boost of some kind on all but a few days during July

2014, so it’s no surprise to see that they dominated the top ten best enhanced

odds offers for the month. Their ‘9/1 Telescope to Win The King George VI &

Queen Elizabeth Stakes’ offer not only provided one of the best overall

enhancements (from 5/4) for the month, but when cross referenced with the

likelihood of coming off, was also rated the Enhanced Odds Offer Of The Month

for July 2014.William Hill were the only other firm to break into the top ten in this

category with a larger than normal £20 maximum stake on their ‘4/1 Brazil to

Qualify’ offer, combined with a sizable enhancement from 10/11 which offered a

relatively good chance of the bet winning helping them to third best enhanced

odds offer of the month.


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July 2014 Top 10 Enhanced Odds Offers


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Biggest Odds Enhancement Of The Month

• In terms of the extra winnings a punter stood to earn if they placed

a successful enhanced odds bet, Paddy Power’s ‘12/1 Colombia

to beat Brazil’ offer was some way ahead of the others. Customers

placing the maximum permitted £10 stake with the offer stood to

earn an extra £94.00 than if placing the bet at the standard odds

of 13/5.There was still plenty of value for new players to enjoy,

most notably from Betfair. New customers stood to win up to an

extra £82.50 on Brown Panther or £80.00 on Estimate, horses

which contested the same race at Glorious Goodwood.


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July 2014 Top 10 Biggest Enhancements


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General Findings• Coverage of enhanced odds offers by sport showed a distinct bias towards football

in July 2014, which is hardly surprising with a number of hugely important matches

taking place at the World Cup in Brazil. Events of such nature create huge global

interest and the occasional punter is more likely to have a flutter as a result,

meaning bookmakers were perhaps willing to offer more enticing enhancements

than usual. August 2014 sees the beginning of the new domestic football season

and it will be interesting to see how the stats measure up in our next report.In total

71% of the enhanced odds offers for July were aimed at football punters, with

Newmarket’s July 2014 meeting and Glorious Goodwood contributing to horse

racing being the second most popular sport for price boosts with 18%. As you can

see in the chart below, sports such as cricket, UFC, Rugby League, darts and tennis

contributed to only a marginal amount of the enhanced odds offers for the month.


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Enhanced Odds Offers By Sport July 2014


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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.


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• 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.

bookmaker enhanced odds report for july 2014

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