Types of Sportsbook Bonuses
Almost all online sportsbooks offer a sign-up bonus to new customers. Unlike no deposit bonuses, these bonuses are designed to help reduce the risk of a new bettor signing up for an account at a sportsbook. These bonuses are also a way for sportsbooks to reward existing customers for referrals.
Sportsbooks may also offer odds boosts for certain bets. These odds boosts typically revolve around a specific market, such as the game of the day. They work by reducing the bookmaker’s juice and allowing the customer to win more money at a lower stake.
A referral bonus is another common promotion at many online sportsbooks. Rewarding bettors for referring their friends to an online sportsbook, referral bonuses can come in the form of cash prizes, risk free bets, or free bets. These bonuses are fairly easy to use and require only an exclusive link. Normally, a user can refer a maximum of ten people and receive $50 in site credit for each friend.
Another common type of bonus is a deposit match bonus. This is usually a percentage value that matches the amount of the initial deposit. The value of a deposit match bonus varies from operator to operator, but the typical value is around 10 to 15%. This type of bonus is usually offered as an ongoing promotion, and it may have a time limit. It is not uncommon for a deposit match promotion to expire after 14 to 30 days.
Reload bonuses are also common. These bonuses are activated when a sportsbook member makes a deposit. Depending on the operator, a reload bonus may be available at a rate of up to 50% of the initial deposit. Reload bonuses are usually offered as percentage values, and they can be credited every time a bettor makes a deposit.
Another type of bonus that sportsbooks offer is a deposit free bet. These free bets are given to bettors who meet certain requirements. These requirements may include minimum odds or rollover requirements. If you are considering taking advantage of a deposit free bet, check the terms and conditions before making your initial deposit.
The most popular type of bonus offered by sportsbooks is a risk free bet. These bonuses reward bettors for making a significant deposit. These bonuses are the best for bettors who are able to make big deposits, but they are not suited for beginners who are just beginning to explore the world of sports betting.
There are many other types of bonuses available at online sportsbooks. Depending on the operator, there may be restrictions or rollover requirements that you must meet before being able to withdraw any of your bonus funds. The key is to make sure that the sportsbook you choose treats you fairly and promptly pays out your winnings. Regardless of the type of bonus you choose, be sure to read independent reviews of the sportsbook and get answers to any questions you may have before signing up.