Types of Online Sports Betting Bonuses
Online sportsbooks offer different types of bonuses to retain or attract new players. Some bonuses are offered at the time of signup, others are provided to loyal customers and others on making larger deposits. Explore the types of online sportsbook bonuses that you can expect to find across different sportsbook sites.
Signup or Welcome Bonuses
Signup or welcome bonuses are offered by almost every sportsbook site when you sign up for an account and make the first deposit. Most of the time, the bonus is a certain percentage of the deposited money. If it is not a percentage bonus, it is going to be a small bonus amount. The intention behind the signup bonus is not just to attract you as a new better, but also to help you start with a larger bankroll. Usually, the percentage offered is 50 or 100% of the deposit. So if you make an initial deposit of $100, the sports betting site will offer you another $50 or $100.
Cash Bonuses
Cash bonuses are smaller online sportsbook bonuses which are unlike the percentage bonuses. These are also offered at the time of signup but they are a fixed yet smaller amount. However, you have the freedom to use the money for any wagering on any type of event.
No Deposit Bonuses
Many online sportsbooks will offer you no deposit bonuses as part of the signup bonus. When you sign up with them, the bonus amount is deposited into your account so that you can place a few bets even without the need to make a deposit. Because these bonuses are offered free, they are usually small in amount. Besides, the sports betting site could also offer these bonuses during some special sporting event or promotions.
This could be during some major golf tournament, the Super Bowl, the World Series, the NBA championship, a popular car race, and so on.
The unique thing about no-deposit bonuses is that they come with many wagering requirements and higher rates of rollover. These bonuses are ideal for new bettors who don't want to put their own money at risk and want to obtain a feel of the sportsbook before making the first deposit. There is not any risk involved in using this bonus, but the wagering requirements can be challenging enough.
Reload Bonuses
Once you have signed up and received the first bonus, many sportsbook sites will offer you reload bonuses on the next deposits. It is relatively a smaller percentage as compared to the welcome bonus. Sometimes the sportsbetting site may not offer regular reload bonuses, but only during special promotions.
Free Bet Bonuses
These bonuses allow you to place wagers without the risk of losing your own money. You acquire them for free without the need to make a deposit, and if your wagers win you can collect the winnings. Usually, these bonuses are offered after you have placed at least a single bet on any sporting event. Most of the times the free bet bonuses are provided after you have met the wagering requirements.
Match Play Bonuses
Match play bonuses are unlike cash bonuses and offered to you on the basis of how the event is played. You can compare it to a coupon used just once. Bettors can qualify for it only after they have met the minimum rollover requirements. If you meet these requirements, the bonus is deposited into your account. The rollover requirements and the bonus amount vary from one online sportsbook to another.
Bonus on Loss
It is common for bettors to loose many of their bets. Some sportsbooks make sure that such losses don't make or cause their customers to leave permanently. If you are able to find such a betting site, chances are that they will offer you a bonus on the loss incurred on your wager. Usually, this bonus is offered as a percentage of the loss. The point here is keep you motivated and put a smile back on your face if possible. They know you have lost most of your bets by this time but they do not want you to become discouraged to the point of total retreat. They do not want you to find another hobby!
There is minimal risk to such a bonus and if you are a regular bettor, you can benefit a lot from them, especially during special events. Some of the special events have been mentioned already (major athletic games or races).
Loyalty Bonuses
These are special online sportsbook bonuses offered to loyal customers. Sportsbetting sites use these bonuses to retain their bettors. Usually, this involves the accrual of loyalty points that you gain whenever you place a bet. Once you have accumulated a specific number of points, you can redeem them for cash, free bets, or for any other type of bonus credited into your account.
High Roller Bonuses
If you are a high roller with a large bankroll or who has a capacity to bet big, a sportsbook could offer you a high roller bonus. This is usually a percentage of the deposit amount and can be a large amount, helping you to increase your bankroll by almost 50%. For example, many sportsbetting sites offer a high roller bonus of 50% on deposits of $1,000 or more.
These are the most commonly found online sportsbook bonuses that you can take advantage of when betting on your favorite sporting event, game, race, or match.
