The online sportsbook industry is incredibly competitive and, as a result, sportsbooks offer numerous incentives to acquire new customers and to keep existing ones. This is the world of sportsbook bonuses, and if you use them correctly they can help your bankroll.
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Understand the Rules
To take full advantage of a sportsbook bonus, you have to understand the rules and requirements that are attached to it. Sportsbooks aren’t in business because they hand out free money (though if you’re good it sure seems free!).
Most sportsbooks have a rollover requirement attached to a bonus. Let’s use the following example.
Sportsbook A offers a 50 percent deposit bonus with a 5x rollover requirement on all initial deposits of at least $250. If a bettor makes a $250 deposit at Sportsbook A, said bettor then has $375 to use to place wagers.
Now, the bonus money cannot be withdrawn until the bettor places bets totaling $1,875. That is the equivalent of the initial $250 deposit plus the $125 bonus wagered five times.
Savvy bettors will take full advantage of that extra $125 and make it work for them … and their bankroll.
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How to Double Your Bankroll
With the number of online sportsbooks in the industry, bettors can shop around and find some great bonuses and promotions. There are some sportsbooks out there where “free” money is available all the time.
Search for and find sportsbooks that offer 100 percent match bonuses. You can double your bankroll within minutes of making your first deposit. Depositing $500, you almost instantly have a $1,000 betting budget to work with.
Of course, you’ll want to take a good look at the rollover requirement, also known as the play-through. As long as the rollover requirement isn’t crazy – a 10x rollover would likely go hand-in-hand with this bonus – use it to your benefit.
Smart bettors are in it for the long haul. These bettors can truly benefit from using bonuses. As they navigate the highs and lows of a given season, their profits will only be higher thanks to a sportsbook’s generous bonuses.
There is a saying in the betting world, “Never gamble what you cannot afford to lose.” When you take advantage of a deposit bonus, the increase in your betting budget affords you either more bets or larger bets than you would necessarily make.
Either way, you are playing with house money, which is a term associated with unrealized gains made from winning a bet. In our example above, the bettor that doubled his bankroll receives $500 that is not his. It’s the house’s.
If the bettor loses all $500 in a single bet or in a number of multiple bets, it really doesn’t matter. The bettor has not lost anything that was his. The bettor, playing with house money, can afford to lose that $500.
Sportsbook bonuses allow bettors to play with more house money. That, combined with sharp lines and solid strategy, can lead to some serious profits for the well-educated bettor.