Cashing In On Sportsbook Bonuses
The entire online sportsbook industry is gearing up for another heavy betting season on football. The new college season got underway over the Labor Day weekend and the NFL kicks things off over the first full weekend of September.
In an effort to draw bettors to their online site, most of the books are offering a very generous welcome bonus tied to any initial deposit into a new online betting account. Most bonuses will match the amount of that deposit up to a certain limit. For example, one top book is offering a 50% bonus on an initial deposit up to $1000. So if you decide to deposit $2000 into your online account, you would be eligible to receive the maximum offer of $1000.
The online sportsbooks are very generous this time of year, but they are not in the habit of giving money away for nothing. That is why every bonus offer is tied to a playthrough requirement known as a rollover. Using the example above, there may be a 10x rollover requirement on the bonus which means that you must make $10,000 worth of bets before you can withdrawal any winnings from your efforts.
All bonus offers are optional at the time you are opening the new account. Reload bonus offers on additional deposits into that account are also at the customer’s discretion. Since most offers will expire after 30 days, you need to examine your particular betting habits and strategy to determine if taking any bonus offer makes sense depending on the rollover requirements.
You can also earn some cash back or free play funds on a small deposit up front which might make more sense. Either way, you should always consult the terms and conditions for any bonus offer where you are opening a new online betting account.
Online sportsbooks also offer other types of bonus offers along with special promotions and incentives. Some books may offer a free bet incentive for certain betting options. An example of this would apply to live in-game bets. You might be able to get a free $25 to use for your first live bet. Once again, there may be certain rollover requirements tied to this offer.
Some online books are big on rewarding customer loyalty with special VIP offers. You might be able to earn points on all of your online betting activities. Obviously, the more you bet the more points you would earn towards free play credit and other perks tied to your overall VIP status.
Another good way to earn either cash back or free play credit is through a customer referral program. If someone you refer opens a new online betting account, you can receive a bonus based on the amount of their initial deposit. There will probably be some rollover requirements in place for any referral bonus you receive.
One of the best ways to extend your betting bankroll without any added playthrough requirements is a “reduced juice” offer on certain bets. This pertains to the actual commission you pay to place a bet. The standard rate is 10 percent, but some books will reduce that rate on certain bets. For example, you might be able to bet a football game against the spread at five percent juice instead of 10. This is normally designated on the betting board itself.
While everyone bets to win, paying half the commission on a losing bet can add up to some major savings over the course of the year. Online bookies will also use reduced juice as a way to shift more money to one side of bet as opposed to moving the actual point spread one way or the other.