Bovada Bonus Payouts

[Weasel]

Anyone here use Bovada? I recently opened an account to play some low stakes poker, threw in $100 and they had some sign up bonus to match the initial deposit.

Well, I placed 2nd in a larger tourney last night and won $1500, but it says I can only withdraw $600 and the rest is locked until I meet the "playthrough requirements". Do any of you poker guys know how this actually works? I figured it's slowly deposited as you buy into games, but I want to make sure I'm playing games that qualify

[wdoupis]

Been a while since I have deposited money in there but typically it says something like "must bet 10 times the bonus amount" or something like that. That is how the sports betting deposits work and I would assume poker does the same. Probably amount of dollars you spend buying in to tourneys or something like that.

[Weasel]

That's what I figured, but thought it would be for the bonus alone. I deposited $100, am up to $1600, yet can only withdraw $5XX. I can't figure out their math

[ReignOnU]

You have to "roll" the money and only certain bets apply to the "roll." It varies on promotion to promotion, but I've seen rolls as high as 25x.

Also, Bovada uses a system where the amount credited is the lesser amount of the risk/win.
So if you make a $100 bet that has +500 odds and win, you don't get credit for wagering $100 on your roll, you only get credit for winning $20 (rough math).

[Weasel]

So lame. Makes no sense, I would have been much better off not taking a bonus

[wdoupis]

So lame. Makes no sense, I would have been much better off not taking a bonus

Yup, they are usually not worth it as their hope is that by the time you can cash out what you went up that you’ve already lost it back