Sports betting bonuses are one of the most common promotions that sports betting sites use to attract new players. These sports betting bonuses give players a little extra money when they sign up for new accounts. That extra money can be used to try the software, place a few wagers and hopefully create a long-term customer.
Every sports betting site offers a different deposit bonus to new players. These sports betting bonuses can range from the very large to the very small. For the most part, sports betting bonuses can be organized into two different categories:
Sports Betting Match Bonuses
This is the most common type of sports betting bonus. Sportsbooks that offer these types of bonuses promise to match each player’s first deposit at a certain percentage. For example, a sports betting site might offer a 10% unlimited bonus to all new customers. This means that any amount deposited at that site is given an extra 10%. So a $100 deposit would get an extra $10 added to it.
The percentage varies from one sports betting site to the next, but it generally hovers around the 10% to 25% range. Some sports betting bonuses offer higher percentages, but those are the exception. Sports betting bonuses are not as big as poker deposit bonuses, but every little bit helps.
Sports betting bonuses usually come with certain terms and conditions that must be met before the bonus money can be withdrawn. In most cases, this is called a “rollover” requirement. Rollover requirements state that bettors must wager a certain amount of money before the bonus cash can be withdrawn. Many sportsbooks state that players must wager 3 to 5 times the deposit amount before the bonus money can be withdrawn.
Wagering requirements for online sports betting bonuses are generally pretty easy to meet. As people place wagers, some of those wagers end up winning and some end up losing, but the total amount wagered adds up quickly. The end result is that most sports bettors clear betting deposit bonuses quickly.
Free Bet Bonuses
The second-most common type of sports betting bonus is the free bet bonus. This is a simple promotion in which the sportsbook promises to refund up to $20 (or something in that range) of each player’s first bet if that bet loses. This essentially gives all new players a free ride on their first bet. That bet is either a winner or it gets refunded.
These sports betting bonuses don’t give players as much money as other types, but there are no wagering requirements associated with these bonuses. Players who get this bonus simply have to place sports bets like they normally would. If the first bet is a loser, it gets refunded. If it’s a winner, nothing happens.
More About Sports Betting Bonuses
Sports betting bonuses won’t make anyone rich, but the extra incentive is nice to have. The ability to get a little extra money or a free bet is rarely seen in the land-based sportsbook world – especially for new customers. So if you plan on signing up at a sportsbook, don’t forget to check out any bonuses that are offered by that sportsbook.
One thing all online sports bettors should do is read the terms and conditions of all sports betting bonus offers before signing up. This is just a common-sense measure that should be taken to make sure there are no misunderstandings or predatory conditions. Most sports betting bonus incentives are straight-up deals, but it never hurt to spend a few seconds reading the fine print.
As long as you stick with big-name sports betting sites (such as the ones we recommend here), you’ll be in good hands. The new customer bonuses at these online betting web sites are legitimate offers that are used to drum up business and spread the word.