Know Your Betting Rules at Your Online Sportsbook
Most of the rules for betting on sports remain constant across the entire sports betting industry. For example, once 55 minutes of play has been completed in a NFL game the results become official from a betting standpoint. This is true whether you are in betting in a New Jersey land-based sportsbook or online at your favorite offshore betting site.
While this is the case with many of the basic betting rules, you should also familiarize yourself with the rules and regulations at the online book where any bet will be placed. Knowing these rules and regulations upfront will avoid any issues after the fact if something unexpected should arise.
If you are looking to capitalize on the welcome bonus offer at a new online book or on any reload offers on additional deposits at an existing online betting account, you need to pay close attention to the rules and regulations when it comes to collecting your money.
Most bonuses are paid out in the form of free bets while others do add actual cash to your betting account. Regardless of how any bonus is paid out, they are all attached to a rollover requirement. A rollover is a betting requirement tied to a deposit amount, a bonus amount or both. Most books require rollovers on the amount of both the deposit and the bonus.
For example, if you deposited $100 and received $100 bonus, your rollover requirement would be on $200. If the rollover requirement is 10x, you would have to bet $2000 before becoming eligible to collect your money.
Every online sports bookie has specific rules for collecting bonus offers. This is the kind of fine print you really need to be aware of. There might be time limits in place to meet the rollover requirements. Certain bets may not count towards a rollover. While the basic concept of a bonus offer is consistent across the online sportsbook industry, there are going to be slight variations from one book to the next on how to collect.
The next section of rules and regulations that are very important to understand pertain to the bets themselves. A straight bet on a side using the pointspread is about as basic as it gets. However, the more complicated the bet, the more rules pertain.
A good example would be a multi-team parlay. You should make note of how your book treats a PUSH. Some may state that ties loose. You should also take note of the actual payout odds even though they remain fairly standard across most books.
If you like to bet futures odds and props, you will want to make sure that you brush up on all the rules and regulations pertaining to these types of wagers. Most books will try and keep things as fair as possible with all the rules they post for betting options. Yet, they have very little flexibility when one of their rules or regulations is questioned after the fact.
Another important set of rules that are very important to take note of is set betting limits. These will vary from book to book and they apply to both minimum and maximum limits. Every book should offer a clear listing of their particular betting limits. They will be broken down in terms of the betting option and the actual sport.
For example, the max bet on NFL parlays may be $1000 but that same max may be lowered to $500 for NBA, NHL and MLB games. Take special note of the limits for futures bets as well as props. Books tend to have various limits on these types of bets.