Mastering Sportsbook Bonuses
Sportsbook bonus offers are available online in a variety of shapes and sizes. They can be a great way to bulk up your starting bankroll, get some free bets or just get more value from your second or third deposits.
Bonus offers are optional extras and if you want to use the bonus offers its bets to first list and compare the various options on offer out there.
First and foremost, it should be made clear that bonus offers do not equal free money. There are stipulations to adhere to so let’s look at how to get the most from your bonus offers.
Sign Up Bonuses
Sign up bonuses are the most common offers a sportsbook will present to potential members. This type of bonuses is specifically for new people signing up at a sportsbook and as such they generally offer the biggest bonuses.
The bonus will often be a percentage of your total deposit and will require you to wager a certain value of your deposit bonus before you can withdraw any cash.
As an example say a site offers a 10% bonus on your first deposit. Your deposit amounts to 100 meaning your bankroll will total 110. The wager requirement set by the sports book may be 10x your bonus so before you can get full access to your account you must first wager 100 of your own money.
It is of utmost importance to understand what the wager requirement is. Go into the small print and check what the site requires before taking advantage of any sign up bonus offers.
No Deposit Bonuses
The no deposit bonus is the same as the first deposit bonus. This offer is tempting for sports bettors who have no immediate cash and want to take part in betting, but the cash offers are usually much lower than with a sign up bonus yet you must still fulfil a wager requirement before you can access to your account.
This is a good option if you join a sports book just before a big game you want to wager on.
The wager requirements for both no deposit bonuses and sign up bonuses do not require you to win or loses. Any bet you make will count towards meeting the wager requirement.
Additional Deposit Bonuses
A Sports book can also give you additional bonuses when you make second third or fourth deposits. These are also called reload bonuses. If you liked the offers the first time around, the reload bonuses are for you. They generally become lower in value after your first bonus but usually feature the same wager requirements.
Free bets are generally more popular than the deposit bonuses. Free bets are given in lieu of a sign up bonus or as a reward to players who wager a lot.
Free bets are usually free. You will get certain cash value to bet or you will receive a free bet of the sportsbook’s choice on the event of their choice e.g. Cox Plate Betting.
Free bets are usually quite a fun and rewarding bonus. More often than not the free chosen bets have quite long odds but if you win, the cash is yours.
Cash Back Bonuses
Cash Back offers are popping up more and more. With these offers, players can cancel a bet when it looks like their team is not going to make it.
When your bet is cancelled you will get a small percentage of your total stake back in cash, rather than simply losing the bet and walking away with nothing.