Making Sense of Various Sportsbook Bonuses

Bettors can find seemingly endless sportsbook bonuses online. They are designed to keep existing customers and entice new ones to join a certain sportsbook. Bettors can examine these various incentives and learn how to take advantage of them. Here’s how to make sense of them all.

Key Points

– Bettors can take advantage of sportsbook bonuses at nearly every online sportsbook.

– Sportsbook bonuses come in many different forms and sizes.

Welcome/Sign-up Bonuses

Almost all sportsbook websites offer welcome or signup bonuses when you create an account and make your first deposit. The bonus is typically a certain percentage of the money that was initially deposited. 

It will be a small bonus sum if it is not a percentage bonus. The signup bonus’s goal is to get you as a new customer as well as to give you a bigger starting bankroll. 

Typically, 50% or 100% of the deposit is offered as a welcome bonus. If a bettor deposited $100 in a new online sportsbook, the sports betting site would add another $50 or $100 to that initial $100 deposit.

Cash Payments

Contrary to percentage bonuses, cash bonuses are not as popular at online  sportsbooks. These incentives are also provided at the time of registration, but the amount is fixed and less. 

For example, you might make your first deposit at a sportsbook. As a result of the deposit, the book provides you with $20. Most often, a cash bonus is credited to a bettor’s account and must be used to wager on a sporting event before it can be withdrawn.


Deposit-Free Sportsbook Bonuses

As part of the signup bonus, many online sportsbooks will give you no-deposit bonuses. The bonus money is deposited into your account when you sign up. This allows a bettor to place a few bets without having to use his or her own money.

Like cash bonuses, deposit-free incentives are typically small. Sportsbooks are in the business of making money, not giving it away for free. 

These types of bonuses are popular during particular sporting events or promotions. A sportsbook might run something like this a few weeks before the Super Bowl or March Madness.

The distinctive feature of no-deposit bonuses is that they have a high number of wagering requirements and rollover rates. These bonuses are perfect for first-time gamblers who don’t want to risk their own money and want to get a feel for the sportsbook before making the first deposit. 

Reload Bonuses

Smarter bettors take advantage of the fact that most sportsbooks also offer reload bonuses on subsequent deposits. When you want to add more money to a betting account, many sportsbooks will offer you a bonus for doing so. 

Now, the reload bonus is usually not as great as the initial deposit bonus, but it is still an incentive to deposit more into your betting account. The percentages are usually lower on reload bonuses. 

A sportsbook that offers a 100 percent match on your first deposit might offer a 50 percent or even 25 percent match on your reloads. There might also be reload bonuses offered during specific promotions as opposed to offering them at all times. 

Free-Bet incentives

Free bet incentives are extremely popular now. Bettors can make wagers without having to worry about losing their own money. You might receive bonuses in the form of free bets.

Oftentimes, sportsbooks will offer a free bet bonus if you wager on something specific. For example, a bookie might offer a free bet if you place a $50 or more wager on the Super Bowl. Once the Super Bowl bet is done and graded, you receive a free bet to use on any event.

Match Play Sportsbook Bonuses

Unlike cash bonuses, match play bonuses are given to you based on how the event is conducted. It is comparable to a coupon in that it is used only  once. 

Match play bonuses are only available to bettors who have completed the minimum rollover requirements. The bonus is deposited into your account once you fulfill these requirements. Each online sportsbook has a different set of rollover rules and bonus amounts.

Gambler’s Insurance

Sportsbooks stay in business because bettors often lose a large number of their wagers. Some sportsbooks take precautions to prevent their customers from quitting permanently as a result of such losses. 

There are a number of betting sites that will give you a bonus on losses that you have suffered. The bonus is usually a percentage of the overall losses.

For example, some sportsbooks offer 10 percent cash back on a month’s losses. The sportsbook knows that if it offers a bettor something in return for losing, the bettor is more likely to come back and keep playing.

Loyalty Rewards

These are exclusive sportsbook bonuses from online betting sites provided to devoted customers. These bonuses are used by sportsbooks to keep their existing customers. 

These types of loyalty programs are similar to those run by your local grocery store. Bettors  accumulate loyalty points that are earned each time a bettor places a wager. When the bettor reaches a certain threshold of points, they can be exchanged for money, free bets, or any other bonus that the sportsbook has come up with.

High-Roller Sportsbook Bonuses

A sportsbook may offer you a high roller bonus if you have a sizable bankroll or the ability to place large bets. This is typically a percentage of the deposit amount and can be a sizable sum, enabling you to almost double your bankroll. 

For instance, a lot of sportsbook websites give high rollers a 50% bonus on deposits of $1,000 or more.

These are the most frequent bonuses offered by online sportsbooks that you can use to your advantage when placing a wager on your preferred sporting event, game, race, or match.