Sportsbook bonuses are basically free money for players and should be taken advantage of, but it’s important to understand the different aspects of the bonus so you know exactly what it is you are getting and what you are required to do to keep your bonus. Not all bonuses are created equally. This page will break down the main differences between sportsbook bonuses and explain what you must do to get the bonus, as well as keep it.
I’m writing this as a general information page based primarily on the three betting sites I recommend.
I strongly advise you to read the terms and conditions for every bonus offer you take advantage of so that you know exactly what you are getting into. Every bonus has its own unique requirements.
Bonus vs Free Bet
This is the main difference I’ve noticed between sportsbooks in terms of what kind of bonus they offer.
Some sportsbooks will offer a straight up cash bonus that is added directly to your account and can be used for betting, while others will offer free bet bonuses where you must select that you wish to use your free bet dollars when placing a wager.
With free bet wagers only the winnings are added to your account, while with the more traditional bonuses both the winnings and wager are added to your account.
Therefore another way to look at free bets is that they are worth half of what a regular bonus is worth because you only receive the winnings from using the free bets and on average you will win half of your bets.
Every sports betting bonus will have rollover requirements that must be met. This is to prevent players from withdrawing their bonus dollars right away without using the site.
You will generally have to rollover your bonus amount a set amount of times before it is considered yours and available for withdrawal. A rollover means betting the amount of the deposit through once.
Different bonuses have different rollover requirements. It’s important that you investigate and understand the rollover requirement of each bonus you claim.
The rollover requirements may sound daunting, but you would be surprised how quickly you clear your bonus if you’re betting regularly. Don’t worry about clearing the bonus, it will happen naturally.
Quick Video Explaining Rollover Requirements
Some sportsbook bonus offers do have expiry dates. This means that the bonus amount will be forfeit if the rollover requirements associated with it are not completed in the set amount of time.
The only time you should worry about clearing a bonus is when there is a short expiration window. Try to bet normally, but keep the expiration date in the back of your mind.
Some betting sites will require a minimum deposit that is higher than the regular minimum deposit in order to trigger the bonus offer. Make sure you know the minimum deposit required to claim the bonus before making your deposit.
Offer Codes and Opt-Ins
You will sometimes have to “opt-in” to receive the bonus offer. If you expected a bonus and have not seen one added to your account it is never a bad idea to contact customer support to find out if anything has gone wrong.