3 Types of Online Sportsbook Bonuses You Should Grab

When wagering on sports, you’re probably focused on winning each bet first and foremost. However, you don’t have to rely on winnings alone to make money.

Online sportsbooks offer multiple types of bonuses. You should definitely take advantage of these deals when they’re available.

The following guide discusses three of the most common types of betting bonuses. It also covers other aspects to consider with these offers.

1 – No Deposit Bonus

Some real money online sportsbooks offer you a bonus just for signing up. No deposit bonuses provide the opportunity to win money without even funding an account.

The only thing that you need to risk with these offers is your time. Given that it takes just a few minutes to complete registration, you’ll find the time investment to be worthwhile.

Here’s an example on how a sports betting no deposit works:

• You sign up for an account.
• The sportsbook gives you $20 in free betting funds.
• Rollover (playthrough) is 10x.
• 20 x 10 = $200 must be wagered
• You keep winnings accrued through the bonus after meeting playthrough.

The problem with no deposit bonuses is that your funds could dry up before satisfying rollover. Nevertheless, it’s hard to complain about getting a chance to win free money.

2 – Risk-Free Bet

The point of sports betting is to risk money to win money. Bookmakers don’t normally help you out in this quest.

However, a risk-free bet is an exception to the norm. It gives you the chance to place a wager without technically risking anything.

This offer covers your first bet. Assuming you lose the wager, then you’ll have an opportunity to get the losses back. If you win, on the other hand, then you’ll simply collect the winnings and move on.

Here’s an example on how these deals work:

• A betting site offers a risk-free bet worth up to $200.
• You place a $100 wager and lose.
• Rollover is 8x.
• 100 x 8 = $800 must be wagered before receiving your losses back.

A risk-free wager doesn’t really pay off when you win. However, it’s definitely handy when you lose the first bet after depositing.

3 – Match Deposit Bonus

Some bookmakers offer match deposit bonuses that are similar to those available at online casinos. As the name implies, a match bonus matches a percentage of your deposit amount.

You’ll be able to cash out the entire bonus after meeting terms and conditions. Here’s an example on how a match deal works:

• An online sportsbook offers a 100% match bonus worth up to $250.
• You deposit $150 and, thus, are in line for a $150 bonus.
• Rollover is 6x.
• 150 x 6 = $900 must be wagered

These deals are usually more lucrative than no deposit bonuses and risk-free bets. Unlike the latter, you don’t need to lose before benefiting from a deposit bonus either.

Which of These Bonuses Is the Most Common?

Risk-free bets are the most-common bonuses available in the betting industry today. You’ll commonly see mobile bookmakers advertise risk-free wagers on their homepage.

You almost always must deposit to take advantage of these deals. After all, no deposit risk-free bets are rare (they’re usually based on cash).

Deposit bonuses are the second most common deal in the bookmaking world. Most mobile sportsbooks that provide these deals usually match your deposit at between 50% and 100%.

No deposit betting bonuses are definitely the rarest of the deals covered here. Not many bookmakers enjoy giving you the chance to win free money. Nevertheless, you can still find these offers available to some extent.

Can You Get All Three Bonuses Anywhere?

In the best-case scenario, you’ll find an online sportsbook that features the trifecta—a no deposit bonus, deposit bonus, and risk-free bet.

Such situations are rare because this trifecta constitutes lots of potential bonus money. Believe it or not, though, some bookmakers do offer these generous welcome packages.

Here’s an example of one of these welcome bonuses:

• $20 no deposit bonus
• Risk-free bet worth up to $300
• Deposit bonus worth a 100% match up to $1,000

Most bookmakers that provide all three bonuses are in newly regulated markets (e.g. Pennsylvania). These sportsbooks are fighting for customers in a wide-open market. They’re willing to offer serious bonus money to recruit as many customers as possible.

Offshore betting sites, meanwhile, have been around much longer. They’re not as willing to offer the trifecta as sportsbooks in regulated markets.

Other Considerations With Online Sportsbook Bonuses

Your eyes may be drawn to the biggest betting bonuses available. However, you should also consider the following aspects before chasing any deals.

Understand All Terms and Conditions

Every online sportsbook bonus comes with terms and conditions attached. Bookmakers use terms to ensure they actually get betting action out of you before handing over extra money.

With that being said, the terms and conditions page should be one of your first stops at a new mobile sportsbook. These pages discuss all of the terms that you’ll need to know before withdrawing bonus cash. Most sports gamblers are too lazy or think that they’re too busy to read all of the rules.

After all, these rules are written in a way that is painful to read, with a lot of legal terms and usually in all capitalized letters. These documents are written this way because the sportsbooks don’t want you sending time reading them.

The books want you to blindly trust them and start placing wagers as quickly as possible. But you have to be smart and patient and read every word. And just because you read every word at the last sportsbook, it doesn’t mean you can skip this step when you get a bonus at a different book.

Your main goal here is to ensure that all terms are clear and fair. In contrast, you want to avoid bonuses with ambiguous terms. After all, a bookmaker could use an unclear term to deny you from a legitimately earned bonus.

Use the Proper Bonus Code

Most betting sites require that you use a bonus quote to qualify for any offer. If you’re going for a $100 risk-free bet, for example, then you might input code “FREE100.”

You can find these bonus codes at sportsbook websites or through affiliates. The latter sometimes have permission to offer the best bonus deals to help in their recruiting efforts.

Check If Any Other Promotions Are Available

Getting a welcome bonus is definitely nice when you join a new online sportsbook. If you’re into betting for the long-haul, though, then you want to ensure that other promotions are available.

Many mobile sportsbooks offer extra free bets and even deposit bonuses. Such deals allow you to keep racking up bonus cash.

Some betting sites even feature VIP programs. In this case, you can earn loyalty rewards on your betting action.

Look for Deals With Low Rollover

Low rollover is definitely better when it comes to sports gambling bonuses. After all, you don’t want to be stuck wagering a big sum just to earn bonus funds.

Many bookmakers attach between 6x and 10x rollover to bonuses. Anything higher than this is worse than the industry standard.

Ideally, you’ll find an online sportsbook that features bonuses with just 1x to 5x rollover. You don’t have to wager much at all to benefit from these deals.

Conclusion

The online betting industry offers no shortage of bonuses. With that said, you should definitely take advantage of these deals no matter where you gamble.

Ideally, you’ll start off with a sports betting no deposit bonus. These offers give you money just for completing registration.

From here, you can progress to depositing and taking advantage of a risk-free bet and/or deposit bonus. Both of these deals can be worth hundreds of dollars under the right circumstances.

You also want to check a bookmaker’s promotions section prior to depositing. Your goal should be to ensure that more bonuses are available beyond just the welcome deal.