A Fool & His Money Are Soon Parted

This came across my computer screen today – the scam that is Buy One Get One Free – you know, BOGO! Here is the article I’m referring to – https://thehustle.co/are-buy-one-get-one-free-deals-worth-it/. Most people fall for this kind of thing because they are suckers. They don’t know the true price of an item, but think this deal has just got to be bought, because they’re getting something they think is “free.” I have often said if I put up a sign that says Free Punch In The Mouth I will have a long line of people demanding one!

I see it every day in Las Vegas, NV. The “free” stuff casinos “giveaway” to get the sheep in the doors. Some of this is insidious and maybe you don’t see it coming. But the vast majority of this is simply bold and effective marketing. Probably the “free” deal we are all most familiar with, and likely the most effective, is the free drinks while gambling promotion.

Free! Not even close! Let’s say “complimentary.”

I have tried to forget the number of “free” drinks I’ve waited for while I lost $20, $50 or $100 at a blackjack table. But don’t worry, blackjack has been very good to me over the years.

My daily stroll through the day’s casino or sportsbook of choice gives me the unique ability to see what “free” stuff that casino is giving out on that particular day. Recently, I’ve seen crappy picture frames, ill-fitting T-shirts, bottles of cheap booze and, most recently, boxes of chocolates distributed on Valentine’s Day. I have yet to observe a single gambler stroll in to the slot club, get her “free” gift and stroll right back out. Nope, they all shuffle off to their games of choice. Just what good sheep do.

Understand, I am not ripping on the sheep. They are adults and I presume they know what they are doing. So, who am I to interfere or judge? I’m simply observing the nature of the Great American Wild-Eyed Gambler in its natural habitat.

Which brings me to this… FanDuel, which operates a sportsbook or two in New Jersey is offering Parlay Insurance! Yes, you heard that right. Insurance for your parlays and here is how it works – https://myaccount.fanduel.com/casino/betfair/promotions-sportsbook/promos/multi-sport-parlay-insurance.

Don’t spill your drink rushing out of the house to sign up just yet…

Let’s check the small print first because, as we all know, what the big print giveth, the small print taketh away – https://myaccountmobile.fanduel.com/casino/betfair/email-promotions-sportsbook/sportsbook-tcs/parlay-insurance-2019-tcs. This promotion runs from the middle of February, 2019, to December 31, 2019, so for the rest of the year 2019. They call this the “Promotion Period.” This is important.

So, you gotta sign up for a sportsbook account. I figured that. But you cannot bet big moneyline favorites, capping favorites at -200. You opened up your account, now they can track you and your bets. And how you bet. And your winnings and losses. Next, we find that they don’t rebate the “insurance” in cash, like filing a claim against your insurance if you wreck your car. No they issue a credit into your sportsbook account. You cannot cash out this credit. Which means you have to bet the “insurance” money back at the book. Then the small print tells us …the Promotion Bonus will be credited to your Sportsbook Account within seventy two (72) hours of the completion of the Promotion Period. Remember the Promotion Period? It ends December 31,2019. So, according to the strict rules of golf, you gotta wait to get your insurance payout until early January, 2020. And it’s not a payout. It’s a play money credit you can only use to make more bets!

This isn’t sounding like a very good deal to me…

I’m going to leave it at that. I was going to breakdown how the parlays they allow you to insure (bet) are bad bets, mathematically, but if you join this Promotion, you deserve what you get…and that will not be an insurance “settlement” at the end of the Promotion.

Toward the bottom of the linked page they provide this helpful information –

Gambling Problem? 1-800-GAMBLER.

Remember, a fool and his money are soon parted.

Cheers!