Winning big on sports betting can be tricky, but with bonuses and promotions, bettors get free chances to help them hit the jackpot. Sports betting bonuses are exciting promotions offered by betting sites. With a huge variety of different kinds, each offering bettors’ new opportunities, understanding these promotions can be tricky. This guide from BettingTop10 will give you all you need to become an expert on sports betting bonuses and promotions, providing you with tips, information, and guides.
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There are tons of different operators who offer tons of different betting bonuses and betting promotions. While not all of these are similar, with some operators offering very unique types of promotions, there are a few different types that are more consistently offered. Some of the different types include welcome bonuses, deposit matches, and free bets. Below, we’ll give you a breakdown of what these different kinds of promotions entail, as well as many others, so you can understand the many different options available and how they can help you. Sports Betting Welcome Bonus: The Welcome Bonus is offered by most betting sites as a way to entice bettors to join up with them. Welcome bonuses are bonuses that give first-time users of the operator a promotion that will help them start their gambling. This could be a few different types of things, from free bets to a deposit match bonus. A deposit match bonus is the most typical form of a welcome bonus, but some operators offer welcome bonuses with no deposit. In general, though, a welcome bonus is just a one-time bonus for when a user signs up for a new operator. Sports Betting Deposit Match Bonus A deposit match bonus is a very common type of bonus. This is one of the best bookmaker bonuses because it can give gamblers a significant amount of extra cash to play around with. A deposit match bonus comes when an operator matches the deposit a bettor puts in up to a certain amount. So if a bettor deposits $100, they will then have $200 in their gambling account because the depositor matched it. You can’t withdraw the matched money, as that would obviously be bad business for the operator. But after a certain amount of time/money spent you can withdraw the money, and you can withdraw the profit from your matched deposit. Sports Betting Deposit bonus Some deposit bonuses are not matched. This would just be a bonus you receive for depositing a set amount of money. An example of an online betting deposit bonus would be a $40 deposit bonus on deposits of $50 and up. These bonuses don’t have to be on the first deposit, so they’re something to keep an eye out for. Sports Betting Cashback Bonus A cashback promotion is one that you will find available on many betting sites. Typically, they are centred around a certain event or a certain type of bet, and they offer mitigation of some of the risk on your bets. A cashback bonus will offer a certain percentage, like say 25% return on parlay bets that don’t hit. In this case, if you make a bet on a parlay that doesn’t hit, you will be refunded 25% of what you lost on the parlay. This bonus helps you because you can add 25% to whatever you are willing to lose on a bet. After all, you will get that back automatically. Sports Betting No Deposit Bonus A no deposit bonus is a promotion that you can claim without even having to deposit money with the gambling operator. These bonuses are typically a little bit smaller than a deposit or a matched bonus, but they are still a great free reward for joining with an operator. These bonuses are typically given out for signing up with a new operator. Reduced Juice Reduced juice is an extremely important bonus for bettors to try and take advantage of. It offers them a chance to bet on events with a chance to win more than they would. Juice refers to the commission operators take on the typical bet. This is a confusing promotion for beginners, but to explain it in simple terms, the prototypical odds for a point spread or puck line is -110. Reduced juice makes this go down to -107 or -105, which means that bettors will win more money betting on things that oddsmakers are predicting are just as likely to happen as they are to not happen. That means it increases the bettor’s odds slightly and takes away some of the juice from the operators, creating a more favourable situation for bettors. Sports Betting Loyalty Bonus – VIP Program This sportsbook bonus is intended to reward customers for consistent use of their betting site. A loyalty bonus/VIP program allows bettors to accrue points by placing bets, which can result in rewards like new bonuses or prizes. These programs incentivize users to place bets to pile up the points, with different amounts of bets being worth different amounts of points based on the operator. Sports Betting Refer a Friend Bonus This online betting bonus offers a reward from operators for bringing a new user on board. If you are using an operator you like, and have a friend who wants to start, most operators will give a reward if you get someone to sign up using a referral code. The amount offered depends on the operator, but this reward is an easy way to make some extra money if you know someone looking to start gambling. Free Bets Free bets are a sportsbook bonus that offers users a chance to make a risk-free, free bet of a certain amount on a game. Typically, a sportsbook will list the amount of the free bet offered, and any limitations on that type of bet. It is a very straightforward promotion that users should jump at because it is literally just a free bet, where profit will go directly to your account. Sports Betting Specials Sports betting specials are a type of promotion only offered on a few sites. Specials are betting opportunities on things that aren’t sports-related. For example, specials are bets you can place on things like the Academy Awards, The Bachelor, the New York Mayoral race, or other events that are separate from sports. Specials can earn you some cash because they are unpredictable, and even oddsmakers can’t truly be certain about what will happen in these often random events. Casino Bonuses – Free Spin Bonus Bonuses aren’t just for sports betting though. Many online sports betting operators double as virtual casinos and offer tons of great promotions for their casinos. One of the most typical of these bonuses is the free spin bonus. Operators will offer users a certain amount of free spins at the virtual slot machines, which gives users free opportunities to make some money. While these bonuses are very common, different operators offer them on varying occasions. Some offer them upon sign-up, some offer them on seasonal occasions, and some offer them at just random moments. These are only some of the best bookmaker bonuses. There are tons of different and unique offers that betting sites offer for special events and random occasions. If you want to have access to these offers and remain updated, check the “send me bonus offers” box when signing up with an operator. Where to find sportsbook bonuses & promotions? If you are searching for bonuses and promotions, finding them is quite easy. Most sportsbooks have a “bonuses and promotions” tab that you can click on to see what they are currently offering. As well, when you sign up with your favourite sportsbook, you can choose to receive new offers from them via email.
While bonuses and promotions are great ways to fill your pockets, they might not be as simple as they appear. Rollover is the betting term that refers to the total money that must be spent before a user can withdraw the money from a bonus, like a matched welcome deposit. Each operator has different requirements before their bonuses turn into real money. For example, an operator might have a $50 matched bonus on a $50 deposit and a 6x rollover. That means, you deposit $50 and get $50 more in your account, bringing your total to $100. You’d need to bet 6x$100=$600 for you to receive your bonus in real money. Rollover is important to keep in mind, as some betting sites offer very high rollover which makes getting your hands on the bonus money prohibitively difficult.
As we mentioned before, promotions aren’t always as great as they appear on the surface. Most gambling operators apply a long list of terms and conditions to their promotions which can change the equation. That is why it is really important to take a few minutes to read the terms and conditions to make sure that you fully understand all aspects of the bonus you are trying to receive. Betting sites are obligated to display the rules and terms of each bonus, and taking the time to read these is vital unless you want to get roped into a promotion where you actually stand to gain very little. As well, a lot of promotions have specific rules you must follow to be eligible, and not following the rules will lead to missing out on the money. This is why terms and conditions/rules are very important, and looking them over is a must. Below is a list of some typical terms and conditions you might find: Time Limits/sensitive Bonuses and promotions sometimes have time limits, that’s why is important to check the details so you don’t miss out on the bonus. Sometimes some bonuses are received if the deposit is made within a certain period, and other times you get a bonus with your deposit and there is a specific time in which you have to use it, otherwise it disappears from your account. Knowing the time limit is key, or else the bonus will just expire, so always look for the time limit. Wagering Requirements Wagering requirements are conditions that dictate how much you must spend to be eligible to withdraw the bonus money. Wagering requirements are typically a multiple of the bonus, so you must spend a few times the amount of money in the bonus to actually receive it. An example of a wagering requirement would be a $70 bonus with a 5x requirement. Some also include your deposit in this calculation, which makes the amount of money you need to gamble much higher. But for the sake of this example, we’ll just say the requirement is only on the bonus. That would be $70×5, meaning you need to bet $350 to be able to withdraw the bonus. These requirements are listed in the terms and conditions, and just about every bonus has some type of wagering requirement, so always check to see what it is. Some of them make the possibility of withdrawing the bonus money extremely expensive and unlikely. If an operator doesn’t have wagering requirements on their bonuses though, people would just withdraw their bonus immediately, which would cause the operator to lose a ton of money. Minimum odds Minimum odds are a restriction that gives you the lowest odds you can bet on to turn the bonus money into real money. The typical range is between 1.50 and 2.00 in decimal odds. Bets below this amount will still be accepted but they won’t factor into the rollover. The implementation of minimum odds restrictions exists for several reasons and can be applied to various parts of the process. Bookmakers will often use this as a way to stop people from exploiting loopholes in wagering requirements Game Limits/limitations There are limitations on the bets you can use your bonus funds. For example, many promotions limit you to only being able to bet your bonus money on certain sporting events, or some casino bonuses restrict free spins to certain slot games. These limitations are so operators can pick and choose how you use your bonus money. Sometimes, they’ll make it so you can only spend the bonus money on one big sporting event so they have a ton of action on one big game/tournament. Win Limits An important restriction to check is the maximum win limit. Some offers put a limit on what you can win, this means that anything over the specific win limit won’t be able to cash out. This restriction can really hamper your ability to make a profit off bonuses. For example, some free spins won’t let you win more than $30 off $40 worth of free spin. Win limits keep the operators from going too far into the red off bonuses This is yet another example of why it is important to check the fine print.
Some of the best betting sites offers will require a promo code for activation. Every bookmaker will offer a bonus to new customers when they sign up, whether that is in the form of free bets, no deposit bonus, 100% matched first deposit or various other types of betting site offers. Claiming these offers can require a bonus code to be entered into a field during the sign-up or deposit process with a bookmaker to activate the bonus. A promo code is a code that must be entered into the betting site for the offer to be claimed. This is, however, becoming rarer, as most betting site offers and welcome bonuses are claimed automatically without a bonus code. In some cases, bookmakers in Canada may send players a promo code in an attempt to re-engage them, and this could reveal free bets or a reload bonus to be used on sportsbooks or casino sites.
