But with so many offers, things can get confusing quickly. And how can you figure out which sportsbook bonus is right for you? In this article, we will help you analyze different bonus offers so that you can pick the best sportsbook bonus offer for you.
Four Factors to Consider
With every sportsbook bonus you review, you will need to analyze the following four factors:
No matter what sportsbook you use to gamble, or what sport you gamble on, you should always consider these factors.
Typical Sign-Up Bonus
Most sportsbooks offer a bonus that matches a sports bettor’s initial deposit with the sportsbook up to a certain limit. For example, a sportsbook may offer a 100% match with a sports bettor’s initial deposit up to $200 and a 10x rollover. Is this good or bad? While, it depends on what type of gambler you are and how often you plan to gamble. What this bonus offer really means is this: If you deposited $400 into your sportsbook account, then you are eligible to receive an additional $200 if you place up to $2,000 in bets before the offer expired. To explain more fully, the $200 bonus limit applied to you, which is why the bonus amount is not a 100% match, or $400. And you first need to bet ten times the amount of the bonus amount, or a 10x, before being able to withdraw the bonus.
If this first example confused you, don’t worry. Below we will dive into the details of each part of the bonus offer, and provide other helpful tips to consider.
You have decided to sign up with a new sportsbook and received a bonus. Now what? While, you might be thinking “I have money in my account now from the sportsbook that I can withdraw or use however I want.” That is not factual correct because in almost all instances, the sportsbook will include a rollover requirement. Rollovers are labeled with a number followed by an x. For example, sportsbooks will offer a bonus with anywhere between a 2x rollover to a 15x rollover. All these numbers mean is the number of bets a bettor has to place before getting to claim the bonus amount.
For example, a 2x rollover requirement means that a player will need to make wagers of at least two times the bonus amount before qualifying to receive the bonus. Likewise, a 15x rollover requirement means that the player will need to make wagers of at least 15 times the bonus amount before qualifying to receive the bonus. Often higher rollover requirements are associated with higher sign-up bonuses.
The takeaway here is simple, if you are an active gambler, then you should sign up for the bigger bonus with the higher rollover requirement. Alternatively, if you rarely gamble, then target the lower rollover requirement sign-up bonus offers that correspondingly have a lower sign-up bonus amount.
Sign-Up Bonus Restrictions
Players need to read the fine print when it comes to sign-up bonuses. Not only do gamblers need to focus on the rollover requirement, but they also need to understand what bets qualify toward the rollover requirement. For example, many sportsbooks will not count wagers toward the rollover requirement if the gambler only places bets on the favorite with high odds to win.
What will normally be credited toward a sports bettor’s rollover requirement is when they bet on games where the probability of winning or losing is close to equal.
It is common for higher sign-up bonus offers to have more stringent odd-betting requirements. But for smaller sign-up bonuses, the betting restrictions for what counts toward the rollover requirement is normally much more flexible. If you are an experienced gambler who takes risks, then odds restrictions should not stymie your approach to select the highest sign-up bonus. Novice gamblers, on the other hand, may want to stay away from such offers.
A second restriction to be aware of is that some sportsbooks only accept cash, while others only accept cryptocurrency. It is important for sports bettors to confirm that they have the currency that is needed to gamble on the sportsbooks that they are reviewing. And if they don’t, then the gambler either has to move on or invest in the necessary currency before playing.
One of the most frustrating aspect of sign-up bonuses are how quickly they expire once a sports bettor signs up. While some sportsbooks have no time restrictions, other sportsbooks sometimes only offer the sign-up bonus offer for between 30 and 90 days.
To the extent a player is a new sports gambler and wants to take their time, then no time limits are certainly the right decision. An active, aggressive sports bettor should be comfortable with a shorter time limit for a bonus. These time restrictions should not change the bettor’s habits, and that is exactly what every gambler should seek to achieve.
Before picking a sportsbook, every sports bettor needs to read the reviews and articles on that sportsbook. In that vein, sports gamblers should be on the lookout for how quickly they can withdraw their winnings from the online sportsbook and how easy it is to request a withdrawal. Although most new gamblers would not think that this is a problem, in some cases a sportsbook could have a reputation for being difficult with their customers when they want to withdraw funds. But not to worry, a quick Google search should give you all the information you need to find out this information!
Let’s face it, reviewing a sign-up bonus offer can quickly get complicated. But that doesn’t have to be the case. By reviewing a sign-up bonus’ rollover requirements, odd betting requirements, time restrictions, and the sportsbook’s withdrawal policy, a sports bettor can quickly and confidently select the right sign-up bonus for them. Then the last thing to do is have fun and start winning!