Many online bookmakers run promotional offers with the aim of persuading new customers to sign up with them. These offers are generally termed as the betting bonuses or free bets. They are either offered in the form of free money credited to the account upon signing up or for depositing a certain amount. These free bonuses can be beneficial because you can place your bets without risking your money. However, it is essential to understand the free stakes often come with terms and conditions. Usually, the sports betting site might lay down conditions according to which the bets have to be placed. Also, there might be conditions to withdraw your winnings gained from using the free bets.
There are different types of betting bonuses available on various online sportsbooks. Details of some of the popular ones are given below.
Initial Deposit Bonus: When you sign up with a sports book and make an initial deposit the sportsbook offers you a bonus. This is calculated as a percentage of your initial deposit.
Free Bets: One of the most common methods were the sports books reward the players through free bets. These bets allow you to try out new wagers.
Sign Up Bonuses: These are given to the players upon signing up with the sports book. These are generally no deposit bonuses given to lure new customers.
Bonus Money: These are often provided after sign up or first deposit. However, there are rollover requirements to be met to withdraw the money.
Loyalty Bonus: These are awarded in the form of cashback on losses or other special prizes to maintain the clientele of the sports book.
Reload Bonus: These are similar to the sign-up and deposit bonuses and are generally awarded if you make a subsequent deposit after the initial one.
Before using any bonus in sports betting ensure that you understand the terms and conditions thoroughly. These include the wagering requirements and the withdrawal conditions.