Use These Online Sportsbook Bonuses to Grow Your Bankroll

Use these online sportsbook bonuses to grow your bankroll.

Key Points

– Online sportsbook bonuses are an effective way to grow a bettor’s bankroll.

– Bettors need to research the various online sportsbook bonuses to find the best ones.

The most popular bait used by sportsbooks to entice gamblers to join their sites is bonuses. Bettors have access to a wide variety of online sportsbook bonuses, each of which has its own special benefits.

There are two primary categories of bonuses: sign-up bonuses and ongoing bonuses. Signup bonuses are limited to a bettor’s initial deposit at a sportsbook. Ongoing bonuses, of course, are available throughout the use of the sportsbook. 

To get the most out of your online sports betting experience, it is imperative that you comprehend the various bonus types that sportsbooks offer. In this post, we analyze every bonus type that is offered to gamblers.

These “welcome bonuses” provide too-good-to-pass-up promotions that significantly lessen the pain of depositing your hard-earned money in your favorite online sportsbook. They are designed to entice new bettors.

There are several different kinds of sign-up bonuses. Some sportsbooks will match a portion of your deposit or give you free bets to place. Others will match your first wager or multiply your winnings from that wager. To understand what type of sign up bonus you are receiving, be sure to read the terms and conditions. 

Since they are sign up bonuses, bettors can only claim them once. They are only available to a sportsbook’s new customers. 

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The initial deposit bonus is pretty straightforward. Simply put, a sportsbook will match a specific percentage of the money you deposit into your betting account, dollar for dollar. Typically, it ranges from 50% to 100% of your deposit.

The initial deposit bonus can differ from a sign up bonus. Simply opening an account with a sportsbook is the sign up bonus. Once a bettor actually deposits money into the account, he can receive the initial deposit bonus. It’s the deposit bonus that is arguably the biggest draw for bettors as they sign up for a new account.

These bonuses typically come with a rollover requirement and are applied to your very first deposit. Rollover requirements vary. Be sure to read the terms and conditions before making a deposit. Most deposit bonuses will be automatically credited to your account.

A “free bet” is another type of bonus that online sportsbooks provide. If you make a $25 deposit, for example, your sportsbook may give you a $10 free bet. You could use it to wager in the NFL player prop betting markets, for example.

If you lose the bet, you don’t lose anything. However, if you win the bet, you get to keep the winnings from that wager. 

No harm, no foul if your wager loses. However, if your selection wins, you keep the winnings from that wager.

These free bets might not seem as appealing as the substantial 200% deposit bonuses some books provide, but they also have a number of benefits. A free bet provides you with some value and some fun which is great if you don’t bet frequently. You can use the free bet to wager on a long shot and win big.  

Even though matching bet bonuses are less popular, some sportsbooks still offer them. If you place a $25 bet, the sportsbook will credit you with another $25 bet. That bet cannot be used to bet against yourself – no middling in sports betting in this case – but it’s another opportunity to win money without staking anything.

Matching bet strategy is intriguing because it effectively multiplies your potential payout without altering the risk or underlying probability. Because of this, it may be preferable to wager on short odds as opposed to long odds in order to position yourself for a solid victory rather than a home run.

To get the most out of your betting experience, it’s crucial to comprehend the lifetime value of the ongoing bonuses that sports betting sites offer. If your goal is to stick with one sportsbook and place bets there for an extended period of time, you should undoubtedly choose one that rewards your loyalty with regular bonuses.

The ongoing bonus programs offered by sportsbooks include reload bonuses, refer-a-friend bonuses, and cash back (rebate) bonuses.

This bonus is fairly straightforward. Once your friend makes their initial deposit, the sportsbook will credit you with a deposit. As a general rule, the amount you receive credited to your betting account is typically between 25 and 50 percent of the friend’s deposit. The friend deposits $100 and you might be credited with $50 as a referral bonus.

In any case, if you believe you can convert or introduce some friends, family, or coworkers to an online sportsbook, this is a useful type of promotion.

After your initial deposit, there may be times when you have to make future deposits. Many sportsbooks have what are called “reload” bonuses for depositing more money into a betting account. 

Let’s say you have to replenish your bankroll. You deposit another $500 into your account. Reload bonuses aren’t as attractive as initial deposit bonuses, but they still offer bettors something. 

The increased technology in sportsbooks is one of the big changes in the sports betting industry over the last 20 years. This technology allows sportsbooks to offer more bonuses, like reload incentives.

The more generous the reload bonus, the more likely one is to keep betting at a certain sportsbook.

For every dollar you wager (win or lose), you receive a certain percentage back in your bankroll. This is how rebates and cashback incentives work.

It’s another easy to understand bonus. Cash back rewards can have a significant impact on how you manage your bankroll and place bets. Your estimation of expected value must take into account the percentage you would receive back in the event of a loss.

Although bonuses and promotions for cashback and rebates are generally self-explanatory, the extent of their value to a potential bettor isn’t immediately apparent.

As an example, consider America’s Bookie. Bettors that make an initial deposit of $500 are eligible for gambler’s insurance. At the end of each month, bettors receive 10 percent cash back on their monthly net losses. 

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Sportsbooks provide bonuses specific to events that occur at certain times of the year. Bettors might find bonuses related to the Super Bowl, NBA Finals, or the Masters. 

These online sportsbook bonuses can be used to a bettor’s advantage. For example, a bettor is entitled to a 50 percent bonus if they make a deposit prior to the Super Bowl. If a bettor deposits $100, he gets what is essentially a $50 free bet on the big game. 

There are online sportsbook bonuses out there that are not well-known. They are more secretive, under the radar bonuses that one can find only with some digging. 

Often, if you place a few bets with a sportsbook, it may unlock some of the secretive bonuses. Numerous sportsbooks in the industry will offer bonuses to newer customers to encourage them to bet more per bet as well as bet more often. 

Most of these hidden bonuses are not as sizable as initial deposit bonuses but, like any incentive, they are useful for bettors.