If you have ever placed a sports bet over the internet, you have likely been offered some sort of deposit bonus by that betting site. While different sites offer different bonuses, most of the biggest betting sites offer incentives to sign up and use their service.
So, what should you know about these bonuses before getting started?
To put it frankly, sportsbooks are always keen on attracting as many new players as possible. As a way of sweetening the pot for new customers, most sites will offer some sort of bonus upon signing up and depositing for the first time. While the site may lure you in with a big, shiny ad that claims “50% SIGNUP BONUS” right at the top, it isn’t exactly that simple.
Let’s start with the concept of rollover requirements. Every sportsbook will have its own set of guidelines that will determine the amount a player must bet before they are able to withdraw their winnings with their additional bonus included.
Let’s use the 50% signup bonus listed above as an example. Let’s say you deposit $1,000 into your account on a site that offers that 50% deposit bonus. The additional $500 bonus would bring your bankroll to $1,500 off the bat. However, books will require you to place a certain amount of bets before you can withdraw that money. You can’t just deposit $1,000, grab the extra $500 bonus and instantly withdraw it all.
As an example, we’ll say a site has a 5x rollover requirement. This means that you must place bets worth an equivalent of five times the deposit plus the bonus. So, in the example above, you won’t be able to withdraw from that site until you have spent 5x $1,500 ($7,500).
This doesn’t mean you have to instantly place five different bets worth $1,500 apiece. It just means you have to eventually spend at least $7,500 to be eligible to withdraw money with the bonus intact in this particular example.
Some sites also require you to enter a promo code in order to claim your full bonus.
Not all sites have a 5x rollover rate. Some may offer 2x, 3x, etc. Some can go as high as 18x, so make sure to read all the fine print. It just depends on where you’re playing. So, be sure to be cognizant of a specific site’s rollover requirements before jumping all over an advertised deposit bonus.
Deposit bonuses aren’t the only types of bonuses sportsbooks tend to offer. You may also be rewarded for playing frequently and being loyal to a certain site. Keeping customers happy and coming back is certainly important to these sites, and they’ll go out of their way to make sure people keep spending that money.
In lieu or in addition to a deposit live betting bonus, some sites may even offer you a free bet just as you’re getting started. This is a good way for a site to sell you on using them in the future. You have nothing to lose, as it is literally a free shot for you to try and make some money. And if you lose the bet, you didn’t risk any money in the first place.
Some sites will offer you a refund on your risk if your first bet loses, as well. That’s essentially the same thing as getting a free bet, of course.
Many sites also offer reload bonuses. This is basically the same thing as a signup bonus, but you can be rewarded if you’re an existing customer. Some sites will offer a reload bonus on your first new deposit in each month, and others will do so on your first deposit on a weekly basis. There is a chance that some will offer a bonus on every single deposit you make, but that’s a far more rare occurrence.
As mentioned above, bookmakers will offer bonuses as a form of sweetener for new and existing customers alike. Once you start playing, though, the bonus will likely rarely really come into play. It’s primarily a tool to get you interested in joining the site. From there, they’ll hook you with other aspects of their operation.
There are so many hoops to jump through just to claim your bonus that you may even forget about it until you actually meet the rollover requirements on a given site.
Because in-play betting is exponentially growing in popularity, most gambling sites are adding extra incentive to get you on board. So, in addition to a deposit, reload or loyalty bonus, many sportsbooks will offer a separate bonus if you play a certain game.
Not all sites offer live betting, but those that do offer it certainly want you to know it’s available. So, as a promotional tool, you may be offered a live betting bonus to place a bet on a certain sporting event. The more live bets you place, the more some sites will give you in the form of a bonus.
Offering bonuses for placing a live wager is similar to a book offering a free bet, reduced juice or enhanced odds bet. Sportsbooks want their customers to place as many bets as possible, so what better way to attract bettors than by sweetening the deal?
The addition of in-play betting to the sports gambling spectrum has only increased the way for books and customers alike to cash-in. There are countless opportunities to bet on a game while it is in progress, and the more live bets you place, the more bonuses you may be eligible for.
For example, a site may offer you a free bet when you’ve placed eight live bets on their platform. Some may offer you a free bet if your first bet is not a winner. If you place 10 live bets, a site may give you a 25% bonus to be claimed later on.
So, what’s stopping you from getting started today? There are bonuses all over the internet just waiting to be claimed.