Bonus Bets Sportsbooks
Most sportsbooks offer promotional bonuses to new customers. These welcome offers can come in many forms ౼ second chance bets & deposit bonuses are perhaps the two most prominent types.
What are Bonus Bets?
Bonus bets are online sportsbook promotions issued to new and existing customers to encourage brand loyalty. They are a form of sportsbook site credit that customers can use to place wagers and win real money. In other words‚ bonus bets let bettors place wagers without using their own money. Most sportsbooks offer users a sign-up bonus to lure them into the site.
Bonus bets are promotional offers from sports betting sites to attract new customers or reward existing ones. Essentially‚ a bonus bet is a free bet that is not real money that you can use to place a wager on a specific sports event. Deposit matches become bonus bets. Parlay insurance and similar promotions turn into bonus bets. Any bet 5‚ win 200 promos mean 200 worth of bonus bets‚ not cash.
How do Bonus Bets Work?
Bonus bets are a way for sportsbooks to give you‚ the bettor‚ free money to wager with. It essentially gives you a second chance to win back losses from a previous bet. However‚ you do not get to keep the stake like you do with regular winning wagers. You must enter the amount of the Bonus Bet (or a value higher than the Bonus Bet) into the wager/stake box to use the Bonus Bet successfully.
Bonus Bets must be used in whole‚ as they cannot be split into multiple wagers. When you win a bet for which you have used a Bonus Bet‚ only the prize amount of that bet will be returned to your account balance‚ not the prize amount plus the Bonus Bet stake. For new customer offers‚ Bonus Bets expire in seven days.
Types of Bonus Bets
Popular deals — match deposit bonus‚ no deposit bonus‚ refer a friend bonuses‚ sportsbook promo code offers‚ and reload bonus deals, act as the operators’ way of granting players otherwise impossible opportunities to place new types of bets bonus bets sportsbooks . Here’s a detailed overview of the best sportsbook promos in the US.
With many available promos each day‚ customers can earn Bonus Bets‚ parlay boosts‚ and more in a variety of ways. Some promotions are earned by placing certain bets‚ while others are available to all customers. For example‚ a 100% deposit match bonus would double the user’s deposited amount in bonus funds or free bets.
Deposit Match Bonus
For this prevalent sign-up offer‚ the sportsbook matches a percentage of the user’s initial deposit. For example‚ a 100% deposit match bonus would double the user’s deposited amount in bonus funds or free bets. This type of offer is a favorite sportsbook sign-up promotion for bigger bettors‚ as the value you get can be higher than the fixed value of‚ say‚ free bets.
The sportsbook will match your deposit and give you bonus money that you’ll need to wager before completing a withdrawal. 10bet has an interesting bonus of this kind. With this new customer offer‚ you must make a deposit of at least $15. Once the deposit goes through‚ you’ll receive $50 in bonus money.
No Deposit Bonus
A no-deposit bonus is a promotion offered by some online sportsbooks where new customers receive bonus funds or free bets simply for creating an account‚ without having to make an initial deposit. This type of bonus allows bettors to try out the sportsbook’s platform and potentially win real money without any financial risk.
However‚ no deposit bonuses typically come with strict terms and conditions‚ such as high wagering requirements and limitations on the amount that can be withdrawn; It’s crucial to carefully review these terms before claiming a no deposit bonus to ensure you understand the restrictions involved.
Refer a Friend Bonus
A refer-a-friend bonus is a promotional offer provided by online sportsbooks that rewards existing customers for referring new users to the platform. When a referred friend signs up and meets specific criteria‚ such as making a deposit or placing a certain number of bets‚ both the referrer and the referee receive a bonus.
This type of bonus benefits both the sportsbook‚ as it helps acquire new customers‚ and the existing customer‚ who earns rewards for their referral. The specific terms and conditions of refer-a-friend bonuses vary depending on the sportsbook‚ so it’s important to review the details of each offer.
Reload Bonus
A reload bonus is a type of sportsbook promotion designed to incentivize existing customers to make additional deposits into their accounts. Similar to a deposit match bonus‚ a reload bonus typically matches a percentage of the customer’s deposit with bonus funds‚ giving them extra money to wager with.
Reload bonuses are often offered periodically or tied to specific events or promotions. They help sportsbooks retain their existing customer base by providing ongoing value and incentives for continued betting activity. These bonuses often come with specific terms and conditions‚ such as wagering requirements and minimum deposit amounts‚ so it’s essential to review them before opting in.
Sportsbook Promo Codes
Sportsbook promo codes are alphanumeric strings that users can enter during the account registration or deposit process to unlock exclusive bonuses and promotions. These codes are often provided by sportsbooks as part of marketing campaigns or special offers. They serve as a way for users to access additional value‚ such as bonus bets‚ deposit matches‚ or enhanced odds‚ beyond the standard promotions available.
To use a sportsbook promo code‚ users typically need to enter it in a designated field during the signup or deposit process. It’s crucial to enter the code correctly‚ as any errors or typos may result in the bonus not being applied. Sportsbook promo codes often come with specific terms and conditions‚ such as expiry dates and eligible markets.
How to Claim Bonus Bets
Claiming bonus bets at online sportsbooks is typically a straightforward process that involves a few simple steps. First‚ choose a sportsbook that offers bonus bets and create an account. Make sure to review the terms and conditions associated with the bonus bet offer‚ including any eligibility requirements or promo codes that need to be entered.
Next‚ make a deposit if required or if it triggers a deposit match bonus. Place your qualifying bet if the bonus bet offer has one‚ and once the qualifying bet is settled‚ the sportsbook will credit your account with the bonus bet amount. You can then use the bonus bet to place wagers on eligible markets.
Wagering Requirements
Wagering requirements‚ also known as playthrough requirements or rollover‚ are stipulations attached to bonus bets that dictate how much money must be wagered before any winnings can be withdrawn. These requirements are expressed as a multiple of the bonus amount or the deposit plus bonus amount.
For example‚ a 5x wagering requirement on a $100 bonus means you need to wager a total of $500 ($100 bonus x 5) before you can withdraw any winnings derived from the bonus. Wagering requirements vary significantly between sportsbooks and bonus offers‚ so it’s essential to carefully review the terms and conditions before claiming a bonus.
Rollover Requirements
Firstly‚ rollover can also be referred to as playthrough. The two terms are interchangeable. An example might help in understanding just what these mean. Let’s say that you deposit $250 to a sportsbook that is offering a 50% bonus with a 5x rollover.
This means that you’ll have $375 to bet with but can’t withdraw the bonus money until you’ve placed $1‚875 (($250+125)x5) in bets. Sportsbooks calculate rollover and the bets that go towards clearing it differently‚ so be sure to read the terms and conditions carefully.
Time Limits
Another thing to look out for is a time limit on the rollover. Rushing your bets to clear an arbitrary threshold is a sure way to place poor bets and lose money. Before you take a bonus with a time limit‚ calculate how much you need to bet per week to clear that requirement‚ and figure out if this makes sense for the way you want to bet.
Bonus funds often expire after a certain period‚ typically ranging from a few days to a few weeks‚ depending on the sportsbook’s policy. If the wagering requirements are not met within the specified timeframe‚ the bonus funds and any associated winnings may be forfeited.
Other Terms and Conditions
Besides rollover requirements‚ sportsbooks have a variety of other terms associated with sign-up bonuses that you need to be aware of to clear your bonus for withdrawal. They vary from sportsbook to sportsbook‚ so it’s worth reading the fine print before jumping on one and trying to cash out before you’ve met all of them.
For instance‚ some sportsbooks credit you your risk amount for losing bets‚ and the lesser of the risk or win amount for winning bets. This means that if you bet $10 on the Patriots at -110‚ you earn $10 towards your rollover requirement if they lose‚ but only $9.09 if they win.
Benefits of Bonus Bets
Bonus bets offer several advantages to sports bettors‚ providing them with additional value and opportunities to enhance their betting experience. Firstly‚ bonus bets give bettors extra funds to wager with‚ increasing their potential winnings without risking their own money. This is particularly beneficial for new bettors who are still learning the ropes.
Secondly‚ bonus bets allow bettors to try out different betting strategies or explore new markets without any financial risk. This can be a valuable way to gain experience and potentially discover profitable betting opportunities.
Risks of Bonus Bets
While bonus bets can offer enticing benefits‚ it’s essential to be aware of the potential risks involved. One significant risk is the wagering requirements attached to most bonus bet offers. These requirements can be challenging to meet‚ especially for casual bettors‚ and failure to fulfill them can result in the forfeiture of bonus funds and any associated winnings.
Another risk is that bonus bets may tempt bettors to chase losses or make riskier wagers than they typically would with their own money. It’s crucial to approach bonus bets with a disciplined betting strategy and avoid making impulsive decisions.
Choosing the Right Bonus Bet Offer
With numerous sportsbooks offering a variety of bonus bet promotions‚ it’s essential to carefully evaluate the options and choose the offers that align best with your betting preferences and bankroll. Begin by comparing the bonus amount‚ wagering requirements‚ and time limits of different offers.
Consider the sportsbook’s reputation‚ user interface‚ and customer support‚ as these factors can significantly impact your overall betting experience. It’s also advisable to read reviews from other bettors to gain insights into the sportsbook’s reliability and the fairness of its bonus terms and conditions.
Best Sportsbooks for Bonus Bets
Several reputable online sportsbooks are renowned for offering generous bonus bet promotions and providing a high-quality betting experience. Caesars Sportsbook‚ for instance‚ is highly regarded for its lucrative sign-up bonus and ongoing promotions.
DraftKings Sportsbook is another popular choice‚ known for its user-friendly platform and a wide array of betting options. FanDuel Sportsbook consistently ranks among the best‚ with attractive bonus offers and a strong focus on customer satisfaction. Ultimately‚ the best sportsbook for bonus bets varies depending on individual preferences and betting habits.
Tips for Maximizing Bonus Bets
To make the most of bonus bets‚ it’s essential to employ some strategic tips. Firstly‚ carefully review the terms and conditions associated with each bonus offer to understand the wagering requirements‚ eligible markets‚ and any other restrictions.
Secondly‚ consider using bonus bets on events or markets where you have some knowledge or insights‚ as this can increase your chances of making successful wagers. Finally‚ manage your bankroll effectively and avoid chasing losses.