Understanding Sportsbook Bonuses

It’s important when understanding sportsbook bonuses to know all angles. They may all look rosy, but it’s important to be informed.

Key Points

– Sportsbooks offer numerous bonuses to attract bettors to sign up and continue to use their services.

– Bettors should thoroughly understand the different types of bonuses offered by sportsbooks.

Understanding Sportsbook Bonuses

One of the key things that attracts a sports bettor to a certain sportsbook is the bonuses and promotions available. Finding a sportsbook that fits you shouldn’t be difficult.

In today’s uber-competitive sports betting market, sportsbooks have to offer incentives to attract new customers and to keep the ones they already have. 

Bettors shouldn’t just jump all-in on a sportsbook just because a bonus looks good. It helps to have an understanding of sportsbook bonuses to decipher which ones might be best suited for an individual bettor.

The Welcome Bonus

Most every offshore sportsbook in the industry will offer a sign-up or welcome bonus. Most will offer some percentage of your initial deposit up to a certain amount. Sportsbooks are not in business to lose money. As a result, most will cap the welcome bonus.

Be aware of your rollover

Take the following example. Sportsbook A offers a 50 percent deposit match just for signing up. You deposit $250. The sportsbook then credits you with another $125.

If you’re thinking about withdrawing $375, think again. Remember, sportsbooks aren’t looking to lose money.

Understanding Sportsbook Bonuses – The Rollover or Play-Through

All sportsbooks will have a rollover requirement. Some books refer to the rollover as “play-through.” In the example above, the bettor has $375 to bet with.

Let’s say the bonus came with a 5x rollover. Here’s how that requirement works. You cannot withdraw any part of that bonus until the following happens. You will have to place the equivalent of $1,875 in bets [($250 + $125) x 5 = $1,875].

Each sportsbook is different in their calculation of rollovers and the bets that count toward the rollover. Make sure you understand any rollover before you sign up.

Reload Bonuses

Sportsbook operators aren’t dumb. They realize that there will be plenty of bettors that will sign up with multiple sportsbooks given all the welcome bonuses that are out there. 

Smart sportsbooks will work to keep the bettors they already have and one incentive they use is the reload bonus. 

It is much like the welcome bonus and rewards bettors with a bonus based upon their deposit. 1Vice offers some of the best bonuses in the industry. 1Vice offers up to a 100 percent deposit match on all deposits, including reloads. 

Gambler’s Insurance

Some sportsbooks – 1Vice.ag is one – will offer gambler’s insurance, which is nice to have when a bettor suffers through some tough losses. 

1Vice has a program where bettors can receive up to 10 percent back on their net cash losses each month. It’s a nice incentive and not all sportsbooks offer it.

Understanding Sportsbook Bonuses – Rewards Programs

If you are familiar with shopper’s clubs or retail points programs, you should understand a sportsbook rewards program.

Bettors receive points for bets. Depending upon the type of bet, bettors can earn different numbers of points. The points accumulate and bettors can then exchange them for a variety of rewards. 

Rewards can be exchanged for free bets, prizes, sportsbook swag, and more.

Before you leave, see 5 reasons to make America’s Bookie No. 1!