In the world of sportsbooks, the bonus is a player’s best friend. Simply put, a bonus allows a bettor more money into his account with which the player can make more bets or place higher wagers.
Bonuses have been around since the beginning of the online sportsbook industry though they have changed over the years. Still, they provide the same basic premise: a reward for opening an account and placing bets.
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In the online sportsbook industry, the bonus is really like the old brick-and-mortar casino “comps.” These are complimentary items like hotel suites, dinners, and drinks that are offered to players for free.
How Bonuses Work
Sportsbook bonuses normally take one of two forms. They are offered as straight up cash or they come in the form of free bets.
It is important to read the terms and conditions related to any bonus. Each sportsbook is different. There are usually rollover requirements related to a bonus. These are expressed as “5x” or “10x.”
As an example, let’s say you deposit $100 into your account which entitles you to a 50 percent bonus. The amount of your bonus is $50 (.50 x $100). If the bonus comes with a 5x rollover requirement, you must bet 5 times your initial $100 deposit, or a total of $500, in order to claim your bonus.
You don’t have to wager $500 in one bet. You can break it up into smaller bets, but you must total $500 in wagers before you can collect the $50 bonus.
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Different Types of Bonuses
There are a number of different bonuses. In doing some research, you can find the ones that best fit you and your betting style.
The example above provides a look at a deposit bonus. You, the bettor, makes a deposit into your sportsbook account. Once you meet the requirements, the sportsbook rewards you with the bonus.
Deposit bonuses can be as small as five percent, but some sportsbooks will offer a full 100 percent deposit match. This is also something to consider if you’re looking to start your own sportsbook with a quality pay per head service.
Sign Up Bonus
The sign up bonus is similar to the deposit bonus. The sign up bonus is to entice new players to a sportsbook. It is usually the most advertised special at a sportsbook as it is looking to add to its player sheet.
The sign up bonus will usually come in the same form as a deposit bonus, but it is good on only the very first deposit. Like a deposit bonus, it will come with a rollover requirement.
Free Play Bonus
Instead of a cash bonus, sportsbooks will sometimes offer a free bet. Players can place the free bet and if they win the proceeds are deposited into their accounts. It is a risk-free wager that allows a bettor a chance to win.
It’s a good idea to check out the amount of America’s Bookie bonuses. They are leaders in the industry when it comes to bonuses, contests and promotions.
For players who have taken advantage of the sign up and deposit bonuses, sportsbooks will offer reload bonuses. When bettors reload their accounts, the sportsbook will add a percentage bonus.
Reload bonuses are typically lower than other bonuses. They are usually 5 or 10 percent of the deposit amount. A player that reloads his account with a $100 deposit with a 10 percent bonus would receive an extra $10.
Like other promotions, reload bonuses usually have a rollover requirement attached.