Sportsbook Bonus Offers are simply what the Sportsbook will offer new customers as a sign-up bonus. Typically, sportsbooks offer risk-free bets – often up to lucrative amounts, like $1000 or more.
Typically, a sportsbook bonus offer is either a risk-free bet, a free bet, or a deposit match.
What is a Risk-Free Bet?
The long story short on a risk-free bet is that you get your money back if you lose your bet. Typically with sportsbooks, it’s your first bet only, and restrictions such as odds and amount of bet are in effect. A $1000 risk-free bet offer means you can lose your first bet up to $1000 and you will get refunded, not in cash, but in another manner.
HOW you get refunded is something to keep an eye on. Generally you get refunded in the form of a site credit or ‘free bets’. So, that $1000 you lost on your risk-free first bet, you will see that money back in your sportsbook account, but you’ll have to wager through it a certain number of times (often 1x) to convert it to withdrawable, actual, hard cash.
What is a Free Bet?
Exactly what it sounds like. You get a certain monetary amount for placing a free bet. Again, there will be odds restrictions and your payout may end up lower than you expect. However, if you win your free bet, the winnings made on it are yours to keep, unless additional stipulations apply.
What is a Deposit Match?
A rare commodity in sportsbook bonus offers is what a deposit match is! Commonplace in online casinos (although with a large xx bet-through required), sportsbook deposit matches are going the way of the dodo. DraftKings is one of the few operators to offer one – which is a 20% monetary bonus placed on top of your initial deposit. The deposit match amount is almost always subject to a wager through requirement.
Always Read the Fine Print!
Now, it’s very very important to read the fine print on the bonus offers. Risk-Free and Free bets often have stipulations attached – such as what the maximum and minimum odds are for qualifying bets. Further, you often have a short period of time, perhaps 7 days, to place your free bets, or you could lose them entirely.
With deposit matches, it’s important to look at wager-through requirements – you may have to bet through your deposit match AND the bonus amount combined up to 10X in order to release the funds as withdrawable cash.
All Your Sportsbook Questions Answered
What Sportsbook Offers the Largest Welcome Bonus?
What VIP & Rewards Programs Are Offered by Sportsbooks?
What Are Play+ Cards and How/Where Do I Get One?
What Deposit Methods Do Sportsbooks Offer Users?
What Do Sportsbooks Need to Verify Accounts?
What Bonuses Do Sportsbooks Offer AFTER You Sign Up?
