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Enhanced odds refer to the practice of boosting the odds on a particular outcome in order to persuade people to place a bet. This is particularly prevalent on the biggest sporting occasions over a certain period, such as a cup final, and is often used as a form of loss leader, persuading people to sign up for an account in the hope that they will remain loyal afterwards.
Enhanced odds are likely to be offered when one pick is a particularly strong favourite. If Manchester City are playing Stoke City, for example, the standard odds offered on Manchester City winning might be as short as 1/5, meaning that a bet of £5, if Manchester City go on to win, will only generate a pay-out of £6 and a meagre £1 profit. A bookmaker may choose to enhance these odds to 5/1, which would mean the same bet generating a £30 pay-out and a £25 profit.
Whilst these bets seem, and sometimes are, highly attractive, it should be noted that there are fairly strict terms and conditions usually attached. The first of these is that the enhanced odds only apply for new customers signing up specifically to place that bet. The other notable caveat is that there is usually a maximum stake – £1, £5 or £10 – imposed on the bet by bookmakers who don’t want to pay-out too much, and this is sometimes accompanied by a minimum bet. It should also be noted that enhanced odds bets sometimes pay-out in the form of a bet token rather than cash, and this token will come with its own separate conditions.
Finally, many bookmakers offer sign-up bonuses to new customers, and most offer ether an enhanced odds bet or a sign-up bonus, rather than a combination of the two.