Sports betting has allowed sports fans around the globe to monetise their passion. Thanks to the advances in technology, smartphones, and the internet, it’s possible to bet on your favourite sport whenever you want, wherever you are.
Also, aside from the convenience and flexibility they offer, online sportsbooks are attractive to bettors for one significant reason – bonuses.
Types of Sports Betting Bonuses
Given the popularity of sports betting online, sportsbooks must create rich bonus offers to grow their user base. In addition, the number of online sports betting communities is on the rise. People join forums to share experiences, talk with other bettors, and familiarize themselves with where and how to find the best bonus offers.
Although bonus options vary between sportsbooks, you’re most likely to come across these types of bonuses on every site.
No Deposit Bonuses
A no-deposit bonus is among the most popular options for newcomers. Suppose you are an inexperienced bettor eager to enter the exciting world of sports betting. In that case, the possibility of claiming a no-deposit bonus may be the best, stress-free option as it allows you to place your first bet without losing your money.
Sportsbooks offer no deposit bonuses to new members. The only requirement is to register an account, and a sportsbook will often reward you with a credit you can use to wager. The amount you’ll receive is not enormous but sufficient to start betting.
Deposit Bonuses
As the name suggests, once you deposit a certain amount of money, you get eligible for a bonus. These are also known as match deposit bonuses. It means a sportsbook will give you a bonus that matches a certain percentage of your deposit up to a certain amount.
For instance, a sportsbook may offer a 100% match bonus of up to $300. So, if you deposit $150, you’ll receive the same amount in the form of a bonus. As a result, you’ll have $300 to bet with.
Reload Bonuses
Reload bonuses are equally attractive to experienced bettors and newbies. It’s an option that ensures you’ll be rewarded every time you deposit.
So, once you register an account and make your first deposit, every time you put in additional money, a sportsbook will offer you a bonus that matches that sum up to a certain percentage; it can also be a predetermined amount. Although these may not be as generous as the match deposit bonuses, they are worth considering as they help you increase your bankroll.
Cashback Bonuses
People start betting on sports for various reasons, but the most common one is to make money. However, we must be realistic, you may and will win, but there will also be ”bad” days when the odds and luck will not be on your side. Those moments should not discourage you but remind you that sports betting, at its core, should be a fun hobby that can lead to some extra cash.
Sportsbooks will ensure to remind you as well, not letting you quit when the first loss happens. That’s why many offer cashback options or so-called second chance bonuses. These incentives help you stay on track and continue betting. Of course, you’ll not get all your money back, but some is better than none.
But, There’s a Catch
Nothing scary, we promise, but for the sake of transparency, you must know what else comes with bonuses. Or, in other words, what you must do to claim a bonus.
Read the Terms and Conditions
Sportsbooks, at least those aiming for long-term growth, will provide an exceptional experience to every member. For them, both attracting new and retaining existing bettors is a priority.
However, to keep their operations running, they must make a profit. So the reason they offer bonuses is to motivate us to bet and make deposits frequently.
But, they must also prevent any bonus-related frauds, hence the terms and conditions we must meet to use and cash out bonuses.
For instance, you can get a no-deposit bonus as a newbie, but you can only withdraw the money after making the first deposit. Also, a match deposit bonus comes with a rule known as a play-through or a rollover. That means you have to bet the amount you have a certain number of times prior to getting permission to withdraw the bonus money.
You may also come across some time and withdrawal limitations and odds restrictions, meaning you can’t only bet on favourites to clear your rollover.
A Piece of Advice
No one can offer you a formula for success in using sports betting bonuses. But one thing to bear in mind is your ambition and budget. Also, think of your experience. If you’re just starting out, don’t miss out on using a sign-in/welcome/no-deposit bonus. Remember, there’s time to try different incentives, but only with a reputable and vetted sportsbook.
