What are Sports Betting Promotions & Bonus Offers
Sports betting bonuses are promotions run by bookmakers as a marketing tool. These bonuses usually take the form of offers of free cash just for signing up, or for depositing a certain amount of money or placing a specific wager. Bonuses & promotions are available online or in person. However, sportsbooks usually give a better offer to online customers because they tend to be more profitable.
Bonuses have been a part of the online sportsbook industry since its inception. Though bonuses have changed over the years, the basic premise is the same. Sportsbooks throw bonus offers around as their primary means of advertisement.
How do sportsbook bonuses work?
How can casinos afford to give money away? They don’t. Bonuses are designed to attract your attention with the promise of money but make bet a lot to get it.
It is advertising people. Expect there to be a catch but if you do your shopping right and you were already going to wager at a sportsbook then why not max your bonus offers?
Wagering or rollover requirements
Before learning about the different types of bonuses available, make sure you understand wagering requirements to “earn” your bonus. They are often listed with numerical values such as 5x or 25x. This number tells you how much you’ll have to wager in order to clear your full bonus amount. This protects the sportsbook from going broke from handing out bonuses.
What types of sportsbook bonuses are there?
There are always new bonus offers being thought up because it is advertisement but here are the most common sports betting bonus offers.
This is a generic term for bonuses made available to new depositors. It’s usually the largest and most-advertised bonus at a sportsbook. This will be the banner ad or text link that draws the most traffic. Yes, we use them here. This bonus is crucial for a casino because it builds the client base that the casino will need to depend on in the future. Even if someone does not wager a lot today there is the hope that some special events will incentivize a customer later. If you can, always take full advantage of the first bonus because it usually the largest bonus offer in terms of percentage that you will receive.
Match Bonus, Deposit Bonus, Reload Bonus
Quite similar to most welcome bonus offers is the deposit bonus. These can come in the form of email incentives after you have wagered and will usually be dependent on the amount you have already bet. Sportsbooks like the big players and the competition for them is tight so the bigger players can receive significant bonus offering. Always take a quick look at the emails your sportsbook is sending to get some “limited time” match bonus offers. Those usually are sent out during the dead time of the year to keep you betting.
The reload bonus is the bonus you will most likely use the most so it is the one to take advantage of. It will usually be in the form of a deposit bonus. Such as, deposit up to $500 and and receive a 20% bonus and up to $2,500 and receive a 25% bonus. Always look for bonus tiers as the percentage of the bonus can change depended on the amount. Instead of making several small deposits it is usually better to make one large deposit and get a larger bonus percentage in return. I truly hope you never lose and so you never need to use a reload bonus but in the event you do. Be wise and only deposit what you entertainment budget can afford.
Free Bet or Bonus
This is one ways a sportsbook will grow its email or player list. Who doesn’t want to get a $20 free bet? To get it you will need to supply the online casino or sportsbook some marketing information they can use later. In a land sportsbook they will want you ID. This serves two purposes. One is to make sure they have your information to send you future offers. The other is to make sure your not trying to use the same offer you have used before. That is or was a big business in Las Vegas. Hustlers would take newbies to the casino for a $50 free bet. Then if they won they would split the money and if they lost then on to the next new meat.