Beware of Fanatics signon bonus offer Maybe not technically a scam but acts like one (2 Viewers)

[cosjobs]

This is a public service message.
Decided to sign up with Fanatics, based on the new sign up offer, which led me to believe that with a $1000 initial deposit and losing bet of that $1000, I would receive 10 days of $100 match bonus bets.

Here is the copy from the promotion promted by cbssportsline:

Bet and Get up to $1,000 in No Sweat Bets​

For new users, Fanatics offers 10 straight days of No Sweat Bets up to $100 each day, totaling up to $1,000 in bonus bets. Interested new users can click the CLAIM BONUS button on this page, download the app and sign up. No special Fanatics promo code is required during registration.

Here are some more details to know about this unique welcome bonus:

• This offer is available only to new Fanatics Sportsbook users.
• Fanatics Sportsbook users must be at least 21 years old.
• This offer is not available in New York.
• Minimum deposit of $10
• New users must apply this promo in their bet slip each day after opting in under Promos.
• Minimum odds of -500 or longer for No Sweat Bets.
• Only one wager per day applies to the sign-up promotion.
• The 10 days begin the day you register your account.
• Wagers must settle as a loss to qualify for bonus bets. Winning bets are paid out in cash.
• Bonus bets will equal the amount of the losing wagers up to $100 in Bonus Bets per day
• Bonus bets expire after seven days.
• Bonus bets amounts are non-withdrawable and have a 1x playthrough requirement.
• Winnings are excluded from the bonus bet stake.

What is attractive about this offer is that it provides new users the chance to win both cash profits and bonus bets, if the majority of those 10 No Sweat Bets win. For example, if you use this promo on 10 No Sweat Bets of $100 each at +100 odds (even money) and you win six of them, you will have $600 in winnings and $400 in lost wagers for a $200 profit PLUS $400 in bonus bets for the four wagers you lost.

No other sports betting app currently structures a welcome offer in this way, making Fanatics Sportsbook one of the best sportsbook sign-up promos.

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Day 1 - I placed a $1000 losing bet on Astros used the proper code to receive the bonus
Day 2 - I placed a $100 bonus bet
Day 3 - no bonus bets available

Day 3 - I chatted with Fanatics support and was told I was promised and received $100 per the rules.

If this thread survives I will post the ridiculous chat conversation I had with their support.

 

[Cjw_55106]

*not an avid sports better.
To try to understand the issues, we almost need to know what they told you. Based on the info posted, I would not expect to receive 10 days of free bets for losing a one time bet.

• Bonus bets will equal the amount of the losing wagers up to $100 in Bonus Bets per day

To me, this means you would need to bet at least 100 per day to get a $100 bonus bet. You could bet more, but they would only pay up to $100 in bonus bets. Each day starts anew for 10 days.

 

[cheese]

They are applying what they said they would do, but here is the part I will agree is a scam. The entire reason they structure their sign on bonus this way is they know everyone is familiar with how everyone else does it and will not read the fine print. They want you to bet $100 10 times instead of $1000 once. That’s actually better for you. But the reason is they know everyone will misunderstand and bet $1000 day1 because it works that way everywhere else. Probably 70% of users in your shoes. Short term gain by them but unhappy customers.

 

[Desert_Power]

They want you to bet $100 10 times instead of $1000 once

Yep. That is how this bonus works.

 

[Desert_Power]

Cheer yourself up by taking down another signup bonus. These terms are very strict, you have to be careful.

 

[cosjobs]

They are applying what they said they would do, but here is the part I will agree is a scam. The entire reason they structure their sign on bonus this way is they know everyone is familiar with how everyone else does it and will not read the fine print. They want you to bet $100 10 times instead of $1000 once. That’s actually better for you. But the reason is they know everyone will misunderstand and bet $1000 day1 because it works that way everywhere else. Probably 70% of users in your shoes. Short term gain by them but unhappy customers.

Thanks. That's exactly it, I just haven't had time (ability?) to describe it so eloquently

 

[cosjobs]

I actually went to the local fanatics affiliated sportsbooks here, Bobby Vs and pulled the manager to the side to ask him about it before placing the original wager. He said he want allowed to really know or do anything s about the fanatics side except to take deposits. I told him how I interpreted it, but wasn't comfortable being 1000 on a single game when some of the rules seemed murky. He read over everything I did and told me that he read it exactly as I did: bet 1K and if it loses, you her 100 daily bonus bets.