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[HPIbet.com] $100 rebate for signup and wagering $100 within 30 days no QC

  • Last Updated:
  • May 21st, 2019 12:14 pm
[OP]
Sr. Member
User avatar
Dec 23, 2015
658 posts
704 upvotes

$100 rebate for signup and wagering $100 within 30 days no QC

Deal Link:
Expiry:
October 19, 2019
Retailer:
HPIbet.com
Pretty straightforward promo from HPIbet.com. For those who don't know HPIbet is a legal Canadian horse race betting site operated by Woodbine Entertainment. You signup (with ID, no you can't signup for multiple accounts) and wager $100 within 30 days and they will credit your account at the end of the 30 day period. * NB only 1 signup per household * New accounts only*

The terms have changed since I did this promo some time ago ( thanks to oo7ibm for making me read the terms & conditions more thoroughly) which makes it less attractive. Now you must wager $100 and they will give you $100 which can only be used to wager. Which means you get essentially $200 in wagers for $100. Though you still need to make some winning bets to break even or show a profit it's still a +EV proposition where a trained chimp should be able to show a profit after take out.
*Must be 18 years of age or older (19 years of age in British Columbia) to open an account. Promotion is available to non-account holders only and cannot be given to a member that had previously had an account within the last 18 months. Only one (1) account per household is eligible for this promotion.

Eligible new account signups have 30 days to wager $100 on any product from the date of opening the account (the “Eligible Period”). Once this betting requirement is met, the account will receive a deposit of $100 after the 30 days Eligible Period has ended. If the betting requirement is met outside of the 30 day period, the account is not eligible for the $100 deposit. Negative break wagering will be excluded from total. Deposits will be made into eligible accounts within 3-5 business days after the end of the Eligible Period. The deposit amount cannot be withdrawn from the account and must be used for wagering purposes. This promotion expires October 31, 2019.

†Upon new sign-up, an amount of $2 will be deposited into the new sign-ups account (“Your First Bet is On Us Promotion”). If there is no wagering activity on the account during the Eligible Period, the initial $2 First Bet is On Us Promotion will be removed. Woodbine Entertainment reserves the right to terminate, modify or alter this promotion at any time before or during this Promotion Period.
Entry and all aspects of this promotion are subjects to federal, provincial and local regulations. By participating in this promotion entrants waive all recourse against Woodbine Entertainment Group and its respective affiliates and each of its directors, officers and employees, relating to entrant’s participation in the promotion.
Last edited by 6060842 on May 21st, 2019 11:43 am, edited 5 times in total.
8 replies
Member
Dec 20, 2010
318 posts
81 upvotes
Toronto
The deposit amount cannot be withdrawn from the account and must be used for wagering purposes.


You CANNOT withdraw the bonus deposit. You spend $100, you get another $100 to wager.
Gullible? Click here to find out!
Newbie
May 22, 2018
39 posts
72 upvotes
Toronto
oo7ibm wrote:
May 21st, 2019 9:30 am
You CANNOT withdraw the bonus deposit. You spend $100, you get another $100 to wager.
This. Looks like this isn't risk-free then... since you have to play through your first $100 (that you would deposit yourself), then you receive a 'bonus' $100 that MUST be wagered again?
Member
Nov 12, 2017
306 posts
215 upvotes
oo7ibm wrote:
May 21st, 2019 9:30 am
You CANNOT withdraw the bonus deposit. You spend $100, you get another $100 to wager.
Wow I initially mistook that for the original deposit. Tbh, this is no different than other betting site promos, except worse (for me) because I’ll be limited to betting on horse racing. This deal is ice bucket challenge cold
Newbie
Jan 28, 2017
43 posts
33 upvotes
Only works out if you win on that first $100. Then just pull your money and winning's out, and truu your luck again on the credit
Deal Guru
User avatar
Mar 1, 2008
12803 posts
2244 upvotes
Toronto, Ontario
Wait so I can't use it to bet on the Raptors tonight?
Deal Fanatic
User avatar
Jun 19, 2009
5446 posts
1298 upvotes
Scarborough
Usually when they have promos like this, if you withdraw the initial deposit, you lose the "bonus wager" money. I didn't read the terms on this deal but they're rarely hot deals/abusable as they have teams of lawyers to close all these loopholes
[OP]
Sr. Member
User avatar
Dec 23, 2015
658 posts
704 upvotes
krispy4 wrote:
May 21st, 2019 10:06 am
Wow I initially mistook that for the original deposit. Tbh, this is no different than other betting site promos, except worse (for me) because I’ll be limited to betting on horse racing. This deal is ice bucket challenge cold
I apologize that I didn't read the terms thoroughly this time as I just assumed that it worked the same as in previous years. It is still a money making proposition unless you are quite unlucky though. Here's why .... If you have no knowledge of horse race handicapping and you just make some random win bets you should still be able to turn a profit on this promo. The track "take out" ( the money which is taken out of the pools to operate the race track etc.) for most tracks is around %15 (other exotic bets have higher takeouts). Therefore if you asked your dog to make win bet selections you should see a return of about $85 per $100 wagered. Add to this the bonus $100 deposited after you wager the $100 minimum and again the return should be $85, so $170 in total for an average of $70 profit. This of course does not take into account variance or luck. If you were to make 100 x $2 bets your variance would be closer to the $170 theoretical amount than if you wagered say 4 x $50 bets or 2 x $100 bets. The higher your bet amount the more variance or luck. Greater numbers of smaller bets will reduce your chances of losing your stake but also limit the upside potential as well. You also have the option to cash out at any time so if you happen to hit a decent win you can quit and cash out and never bet again if you like. While this promo is not risk free due to variance it is still worthwhile especially of you intend to go on an outing to the track or make some wagers anyway.

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