In the uber-competitive world of sportsbooks each doing whatever it can to earn your business, the number of perks and bonuses out in the market is huge. Sportsbooks offer all sorts of bonuses in order to acquire a customer and even more bonuses to keep one.
If you play it right, you can get the most out of each and every one of your sportsbook bonuses. You just have to know how.
Understand Your Bonus
Sportsbook bonuses and incentives come in many forms. The majority of these bonuses are offered in the form of free plays. Take a deposit bonus, for example.
You deposit $100 into your sportsbook account and the sportsbook offers a 50 percent deposit match. You will receive $50 in the form of free plays. These can be used to place bets and will come with a rollover requirement.
Rollover requirements protect sportsbooks from bettors receiving their bonus and simply cashing out. These are important to know when betting sports online. If you deposit $100 and receive $50 as a bonus and have a 4x rollover requirement, that means you must wager $600 (4 x $150) before you can withdraw the bonus money.
That said, it pays to look at what you will receive in the form of a bonus as well as the rollover requirement. Look for situations where you can access your bonus quickly. Also be aware of any time requirements. You may have to use your bonus balance by a certain date or forfeit it.
Best Sportsbook Bonuses
The best bonuses oftentimes are new signup bonuses. Again, sportsbooks are competing for new players, so they extend a little bit more the first time around to get you to sign up.
The signup bonus is usually the most advertised along with being the largest bonus offered at a given sportsbook. The most common of these are given as free play bonuses.
There are also deposit match bonuses, which are often cash bonuses. With the rising popularity of cryptocurrency, many sportsbooks offer deposit match bonuses when you add to your account using Bitcoin or another form of digital currency.
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Sportsbook Reload Bonuses
Most sportsbooks also offer some form of reload bonus. These are incentives to keep players using a certain sportsbook. Typically, reload bonuses are smaller than signup bonuses. A player might receive 10 percent of a deposit as a thank you for adding funds to the account.
Bettors can also find online sportsbooks that will offer sports-specific bonuses. If you really enjoy betting on the NFL, you may take advantage of the signup bonus first. Then, you may be able to add even more to your bankroll by taking advantage of an NFL-specific incentive. These bonuses may also come with some form of rollover requirement or even an odds restriction.
In the end, don’t simply make a deposit at a sportsbook to earn a bonus. Make sure you can maximize the bonus. Rollover requirements should typically be in the 3x to 6x range. Anything higher makes it much more difficult to cash out any winnings.
Read the rules and conditions associated with any bonus and make sure you understand how they work before taking advantage.