Online sportsbooks use bonuses as a way to attract both new customers and keep their existing ones happy. Look at them the same way as a comp at a casino. These bonuses can work in your favor, but make sure you read the small print regarding the terms and conditions of every bonus. Here are some things to watch for when determining whether or not to take a sportsbook bonus.
Sportsbooks use bonuses as a means of marketing, attempting to dangle a little meat in front of your face. You will see a lot of the top online sportsbooks offering a 100% bonus with a 10 times rollover. For example, if you deposit $100 and receive a 100% bonus, you add those two together to get 200, at a 10 times rollover, meaning you need to wager $2000 before any winnings become yours. In other words, you cannot deposit it until you reach those criteria.
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I really like bonuses if I have some extra money in my pocket, and I can be patient in reaching my rollover. I don’t like limits being put on my rollover, so if I have to meet the requirements in let’s say, one to three months or there is a maximum bet size, it becomes a lot less attractive to me. But like I said, if my liferoll at the time is not limited and I can grind out my bonus, I will take it all day. If you are made to meet the rollover quickly, you are going to be forced into betting games you do not want to, and you will see your deposit disappear before any rollover is met.
Saying that, there is more to figuring out whether a bonus is worth it or not. The above example has a 10x rollover. Unless I am getting a larger bonus (150% lets say), I will never accept a bonus with a rollover greater than 10x. For me, it is just not worth the hassle of having to reach such a lofty figure before I can request a withdrawal.
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Remember that free play bonuses are normally given in a form that can be wagered, but have no cash value. Basically your sportsbook is giving you a free bet. Most sportsbook’s rules will state that before you can be paid out after taking a bonus, the player must comply with the rollover associated, deposited amount and any transfer fees attached before any funds can be withdrawn.
Be sure you know where your bonus can be used as well. These days top online sportsbooks offer a lot more than sports wagering opportunities. Will your free play bonus be available across the entire site, can it be used in the casino or the racebook, how about poker? Get all the facts straight before you get a bonus applied to your deposit.
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Let’s talk about some positives to free play bonuses, because they are out there. My offshore book offers a great bonus structure, giving you the opportunity to have a small or a large rollover. With them, you can choose from a 30% to a 100% free play with a 3 to 10 times rollover. It really gives the best variety, depending on your current financial situation. If you think you are going to be betting a lot with football season coming, I will take a larger rollover, or if I will be occasionally placing a wager, I will opt for the lesser.
Sportsbook bonuses and whether or not you should take one really depends on your options and what you intend to do with your deposit. Make sure you know all the rules and regulations around your bonus, and know you can use the free play on what you want to do on the site.
If you have cash in hand, ready to deposit at a new online sportsbook, give their customer service a call, tell them you will deposit $2000 right now if you are given a better bonus, and see if they meet your demands. The online sportsbook industry is highly competitive, and don’t be surprised if they dangle a little more meat in front you.