Virtually all online betting sites have bonuses for players to boost their bankrolls. The purpose of these bonuses is to attract newbies and retain old ones. These bonuses are added incentives for players and can make gambling more fun and strategic.
However, it is important for players to fully understand how these bonuses work before they sign up because there are usually key details attached to them. This article explains everything you need to know to avoid frustration or account restrictions when you want to withdraw your wins.
What is a Sportsbook Bonus?
Sportsbook bonuses are promotions offered by online bookmakers to reward bettors with monetary incentives for using their platforms. These betting bonus offers can differ quite a bit depending on where you’re betting — they might be tailored for newcomers, regular players, or even high rollers.
But no matter the type, they’re all designed to give you a bit of extra value, whether that’s through free bets, cashback, or boosted deposits. However, every bonus comes with terms and conditions that will help you determine how it works and whether it’s worth opting in for. Competition between sportsbooks is fierce, so these kinds of offers are more than just a nice perk — they can actually help stretch your bankroll and let you test out a platform without diving in headfirst.
Sites like AskGamblers are particularly useful here, as they round up all the current promotions in one place and help you find the sportsbooks with the most rewarding deals. If you’re planning to take advantage of a bonus, it’s definitely worth browsing what’s available so you don’t miss out on something better.
Now, let’s go over the details to look out for before claiming a bonus after finding the best football predictions or tips for other sports events.
Wagering Requirements
A bonus wagering requirement (or rollover requirement) is the most crucial detail to check when using a sportsbook bonus. It outlines the number of times a bet must be placed on games with bonus funds before the winnings can be withdrawn. For instance, if you claim a $100 bonus with a 10x wagering requirement, it means you need to wager $1,000 (10 x $100) before you can withdraw your winnings from the bonus.
This is why it’s essential to select online sportsbooks with fair wagering requirements that are relatively easy to meet.
Bonus Expiry
Another crucial detail to note when using sports betting bonuses is the wagering period, also known as the bonus expiry timeline. This informs bettors of the bonus expiry date or the period they have to use the offer to avoid their winnings or the promo being forfeited.
Typically, the wagering period at online sportsbooks is between a week to 30 days. That means you must use the bonus funds and complete the rollover requirement during this period, or they become void.
Minimum Deposit and Bet Amount
While most bonuses are open to everyone, bettors are usually expected to activate them by making an initial qualifying deposit. Most bookmakers have a minimum deposit requirement between $10 and $20. Anything lower will not qualify for the associated promotions.
Additionally, you’ll typically find the minimum bet amount required when wagering with bonus funds.
Eligible Sports and Markets
Some bonuses can be used on all sports games, while others are specific to a particular market. For instance, some bonuses can only be used on National Basketball Association (NBA) games, while others are only usable for National Football League (NFL) betting. In other cases, some bonuses may be limited to certain bet types, such as moneyline, spreads, or draw no bet.
Minimum Odds Requirement
In most cases, online sportsbooks require players to place bets at specific odds to release bonus funds from their balance. If you place a bet at lower odds, it won’t count toward the total wagering requirement, even if it wins.
For instance, a bookie can peg the minimum bonus bet at odds of -200 or higher. That means you can’t play it too safe or choose low-risk bets.
Eligible Payment Methods
Not all payment methods qualify for sportsbook bonuses and promotions. Usually, many bookmakers do not accept deposits via Skrill and Neteller for sports promotions.
Others also limit the bonuses to only credit card and debit card deposits. Understand the qualifying payment methods before depositing funds.
Look Out For Promo Codes
Some casino bonuses are automatic, while you must opt in for others. However, to opt in, some operators require a promo code that must be entered at the point of making a deposit into your account. Without putting in a promo code when necessary, you cannot unlock such bonuses.
Eligible Locations
Some bookmakers, especially global operators, have varying bonuses in different locations. That means promos are tailored to people in different countries or cities, and some offers may not be available in your region. It’s crucial to know which bonuses are available to you. Also, understand what the laws say about using sportsbook bonuses and promotions.
Types of Sportsbook Bonuses
Though different online bookmakers have diverse offers for their customers, you’ll typically find the common promotions below:
Welcome Bonus
The new customer bonus, also known as a welcome bonus, is the most common promotion offered by online sportsbooks. The offer is reserved for new bettors who have just joined an online betting site and have made an initial deposit (usually the minimum amount required by the operator). In turn, the bookmaker rewards the player with a percentage of the deposited amount as free money to boost their bankrolls.
For instance, a sportsbook may have a 100% welcome bonus up to $100 with a minimum deposit requirement of $20. That means any amount from $20 that you deposit will be doubled, so a $20 deposit will attract another $20 as a bonus.
No Deposit Bonus
Unlike the deposit bonus that requires you to first add funds to your bankroll, a no-deposit offer is completely free upon registration at a sportsbook. Typically, you only need to complete an action like verifying your email address, and you’ll receive funds to check out the bookie without eating into your capital.
Free Bet
A free bet is a bonus betting credit that many sportsbooks offer. However, this is usually exclusive. With the bonus credit, you can wager on any sports game. But in most cases, you’ll only get to keep the profit after the wagering amount is deducted. For instance, if you place a $20 free bet and win $100, you’ll be rewarded with $80.
Conclusion
A sportsbook bonus is a straightforward way to unlock free funds to bet with on online betting sites. However, using these bonuses wisely will help you maximize them and your overall betting experience. Use the tips outlined in this guide to improve your chances of success.