Sports Betting Bonuses Explained
Sportsbooks with the best bonus offers
About Sports Betting Bonuses
When signing up for a new account on a sports betting website, it is quite important to consider what bonuses (example: free bets, no deposit bonus) and special offers (example: teaser odds) are available for new user accounts and what offers will or might be available once the account goes beyond the new user stage.
Taking a little bit of extra time to research and understand the perks to signing up can be truly helpful and profitable, so be sure to choose what fits you best. This bonus guide will give you the insights needed to understand what bonuses that benefit you best.
Does all online sportsbooks offer welcome bonuses?
Yes, most sportsbooks tend to give their new customers some form of bonus.
What is the best sportsbook bonus for me?
Make sure you select a bonus you believe you can easily clear. Some bonuses are better for beginners and others for highrollers. At US Sportsbonus we always list the best bonuses available for each state.
What is a deposit bonus?
A deposit bonus is a bonus that is given to a customer when depositing money into your sports betting account. The most common first deposit bonus is a matching bonus where the sportsbook matches your first deposit. Example: Deposit $100 and get $100 in bonus.
What is a matching bonus?
A matching bonus is where the deposit (usually the first deposit) is matched by anything from 20% and sometimes all the way up to 500%. Example: The matching bonus is 50% up to $500. This means that a deposit of $1000 would give you the maximum bonus of $500 (50% of $1000). Any deposit higher than $1000 would not trigger a higher bonus amount.
What is a risk free bet?
A risk-free bet is a free bet that will pay back the bet amount in case of a losing bet.
What is a no deposit bonus or sign up bonus?
A no deposit bonus or sign up bonus is rewarded upon registration on a sports betting site.
What is a free money bonus?
Some operators offers new registered customers free cash to use in any given product provided by the sportsbook.
What is a free bet?
A free bet is a free money wager where as opposed to a risk-free bet you do not put your on money at stake.
No Deposit Bonus and Free Bets
This is a welcome bonus with no strings attached. They are without requirement to claim and almost always allow withdrawal after initial wager. The most popular no deposit bonus offers are:
A no deposit bonus could come in the form of free money that will be added to your account upon registration.
A free bet bonus is basically free money to bet for with the only difference is that you cannot cash out the free bet money before you have placed your free bet and met the rollover requirements.
First Deposit Bonus
The first deposit bonus is awarded to you once you have made a deposit into your new sportsbook account. Below you will find the most common first deposit bonus types.
Risk Free Bet
This offer is precisely what it sounds like. The offer is that when placing a first wager, the bettor will collect if and when the bet wins, but will be refunded the amount of the loss in the case that it loses.
This is a bonus that matches a percentage, sometimes up to 100% match, of the figure of your first deposit once creating a new account on an online sports book.
Customer Retention Bonuses
This bonus is precisely what it sounds like. If and when a bettor clears their rollover requirements on a new account, sports books offer reload bonuses on new deposits and give the bettor motivation to deposit more funds.
Cash back Offers
This is an offer that refunds a defined percentage of losses. It is usually an offer on a defined single sport over the course of a full season and is a sound way to mitigate losses, should they happen.
This type of offer is exactly what is sounds. One or both moneylines are boosted from their original pricing. This offer can be used both to attract new customers and to build loyalty amongst the existing customer base.
Event Specific Offers
This is an offer that can offer any range of perks to the bettor for wagering on a specific sporting event.
Special Promotion Offers
These are the types of offers to keep an eye out for after completion of welcome offers for new users. They generally are offered in short time periods and go above and beyond the standard reload bonuses and are generally far more lucrative for the bettor.
To Think About Before Selecting Your Sports Betting Bonus
The first thing to do when identifying the types of bonuses that will suit you best is to identify the type of player you are. That is identifying if you fall into the beginner, intermediate or high roller category and identifying both the frequency and amount of wagers.
For beginners – Generally speaking, the term beginner is used to define someone quite new to sports betting and someone who doesn’t plan on wagering large sums of money. Beginners generally want to find bonuses that are easily unlocked and/or ones that have the most easily met of rollover and cash out requirements, generally sacrificing some level of percentage match to instead have the more easily obtained requirements.
For intermediate bettors – Intermediate bettors generally aren’t going to be making the largest of initial deposits, but can sacrifice some ease of rollover requirement for a higher percentage match on the deposit. Intermediate players are generally better off going for the type of bonuses high rollers go for, even if it’s not at the maximum level of deposit offered.
For high rollers – High rollers generally do not have concerns with the ease of release on bonuses and are looking for the highest percentage match available on their deposit. Bettors in this category are betting with enough volume and dollar level that the higher level of rollover requirement is more easily met and the true value comes in the amount of available dollars to be gained by the bonus offered.
What is a bonus rollover requirement?
A bonus rollover requirement is generally described by a figure to be multiplied by the initial deposit plus bonus to be satisfied before a withdrawal of funds is allowed to be made. The letter “x” is used to show the multiplier and is used with a figure in front. 5x and 7x are examples of this.
For example, if a sports betting site if offering a 30% deposit match with a 5x rollover requirement, the bettor will have $130 available to wager on initial deposit. The 5x rollover requirement means that this amount must be wagered 5x or five times over before withdrawal will be allowed. Simple math shows us that this can be withdrawn once $650 in wagers have been completed.
Additional Requirements To Clear Bonus
Some sites may have a timeline added to the bonus rollover requirement, and this is generally the type of bonus to avoid unless you’re quite certain you can and will meet the rollover threshold within the allotted time frame. This restriction may also come in the form of an allotted timeframe before withdrawal is allowed without having a timeline to meet the rollover requirement.
Other possible restrictions include:
- Large favorites (generally -200 or greater) do not count towards satisfying bonus requirement.
- Generally speaking, rollover requirements can be met on wagers on sports, online casino and horse racing, but online poker does not count towards satisfying requirement.
- One bonus must be completed and claimed before another bonus can be activated.