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A price boost is a promotion used by bookmakers to attract customers into placing their bets with them rather than their competition. The bookmaker will increase the odds of a particular event to give the bettor the chance to make money from a winning selection, giving them more value in that selection.
A price boost enhances the odds for a particular bet and is regularly used by bookmakers, especially in conjunction with football matches. For example, Paul Pogba might be priced at 6/1 to score the first goal for Manchester United. The bookmaker would then start their promotion before the match, boosting the odds to 8/1 for the same event.
The idea is to attract new customers to the bookmaker by offering more value with these markets – or to keep their existing customers as they know that there is a good chance that odds will be enhanced in the markets they use regularly.
Bettors are happy to receive these price boosts as it means that there is the possibility of receiving higher winning returns. The price boost will tend to be for markets where there is a lot of choice – such as first goal scorer – but customers can attempt at taking advantage of the increased odds.
Leicester City being 5,000/1 to win the 2015-16 English Premier League has become one of the most fabled betting stories of recent times. Bookmakers will probably never be so carefree with their pricing ever again but just imagine if there had been a price boost on this market as well!
A £10 stake will have won £50,010, including your stake. Even with a relatively small boost to 5,250/1 the same bet would have made you an extra £2,500.