The sports betting industry is just as competitive as the various sports it allows you to bet on. With so many online sportsbooks joining the fray at regular intervals, the competition keeps growing consistently. While all these online sportsbooks battle each other for your business, you as the player get a lot of benefits. To get your business and keep it, online sportsbooks have to attract your attention and maintain your interest. This is where all the promotions and bonuses come in! There are a few main types of bonuses that sportsbooks offer their new and registered players. Let us take a brief look at these different types of bonuses offered in sports betting sites.
Sign up (Deposit) Bonus
Sign up bonuses are also called deposit welcome bonuses. As the name suggests, these Sports Betting Bonuses are offered when you make the first deposit on joining a sportsbook site. In this offer, some percentage of your deposited amount is awarded to you in addition to your deposit amount. However, most deposit bonuses require you to fulfill the rollover requirements before you can withdraw the bonus amount.
No Deposit Bonus
No deposit bonuses are when the sportsbooks offer their players a chance to play with bonus money without depositing anything first. They are sometimes offered as welcome bonuses on some sites but they are not as frequent. And even when offered, the amount of these benefits is mostly small and the rollover requirements are often high. It’s better to read the terms carefully before claiming such offers.
Reload bonuses are quite similar to deposit bonuses except they are offered to existing customers. They are offered to existing users of the site when they make a deposit. However, the amount of these bonuses is very low compared to deposit bonuses. Also, the wagering requirements are high. Some sites offer such bonuses seasonally or to mark special occasions while some may offer them year-round.
Cashback bonus, as the name suggests, offer some percentage of the bet amount back to the player when they lose the bet. The percentage of bet amount returned to the players is often quite low. Bettors find this bonus attractive as they get some amount of their bets even after losing. Cashback bonuses are especially popular among the players in US and are mostly catered to them.
Reduced Juice Bets
All sportsbooks take a small amount off from every bet you place as their fee (also called juice) to facilitate the action. Reduced juice bets are offers where the sportsbooks offer a better payout on the bets than what they normally offer. Because of the low juice, you don’t have to win as often which can help you make profit in the long term.
Free Bets Bonus
Free bets bonuses allow the bettors to place a bet for free without risking their own money. In such cases, when the bettor bets on a game and loses, their next bet is covered by the sportsbook for free. This allows the players to play more without risking their own money. Almost every sportsbook offers free bets to their bettors and they are very popular too!