Betting Bonuses Types
Betting bonus offers and promotions are one of the best reasons to bet at online gambling sites rather than with local bookies or land-based sportsbooks. Gambling bonus offers, such as free play and cash bonuses are just simply something that won’t be found with the above options. Still, even with that said, it takes a bit of work to find the best online gambling offers. Not all sports betting promotions are created equal, and the best sports betting sites can be hard to find.
The value of a betting deal or promotion depends on a few factors. Most importantly, the sportsbook or betting website you’re using must be reputable. They must pay on time, honor bonus agreements, and treat their players fairly when it comes to disputes. The most common type of bonus offered by online sportsbooks is a free play or free bet, but there are many other types of deals, which we will go over below. The bonus type and rollover, along with other terms and conditions, is directly related to the value of the bonus offered.
Betting Sites With The Best Promotions & Offers In 2021
Types of Online Sports Betting Bonuses, Offers & Promotions
The most common type of bonus at online betting sites is usually called a “Welcome Bonus” or a “First-Deposit Bonus.” Almost all sports gambling sites that offer bonuses will at least have an initial deposit bonus. This bonus will usually only be available on your first deposit made at the sportsbook. Which is why it makes sense to try to deposit so that you can receive the maximum amount possible. Here is the ranking of gambling sites that excel at a particular betting bonus type and promotion.
|Betting Bonus Type||Betting Site||Deposit Bonus||Claim Your Bonus|
|Free Play Bonus||
|50% Up To $1000||Claim Your Bonus|
|150% Cash Sign Up Bonus||Claim Your Bonus|
|VIP & Cash Back Bonus||
|1% Cash Back Bonus||Claim Your Bonus|
|Reduced Juice Bonus||
|Reduced Juice Bonus||Claim Your Bonus|
|100% Up To $1000||Claim Your Bonus|
|25% Up To $1000||Claim Your Bonus|
|No Deposit Bonus||
|Up To $50||Claim Your Bonus|
|50% Free Play Mobile||Claim Your Bonus|
|50% Up To $500||Claim Your Bonus|
|50% Up To $400||Claim Your Bonus|
Free Bets or Free Play Bonus
Free Bets or free play are the most common type of sportsbook bonus. About 80 percent or more of online sportsbooks offer bettors bonuses in the form of free play or free bets. They’re not as good as cash bonuses, but they still have plenty of value. MyBookie.ag is the site with the best free play bonus right. It’s a 50% Up to $1,000 first-deposit bonus, and it only comes with a 10x rollover, which is down from the standard 15-16x bonus that is the standard rollover in the industry.
Receiving a cash bonus is better than a free play bonus, but these are often rare at online sportsbooks. The reason they have more value than free plays is because the staked amount and winnings from each wager are both returned. Whereas, free plays only return a winning wager and not the amount that was placed on the bet. If possible, opt for cash bonuses over free play or free bets. GTBets.eu has the best cash bonus for betting sports online. Their 150% Cash Sign Up Bonus is available in two deposits. A 100% cash bonus up to $500 on the first deposit and 50% cash bonus up to $500 on the second deposit.
VIP & Cash Back Bonus
In today’s sports betting world, cash back and VIP programs with points and rewards are getting quite rare. In some cases, sportsbooks will offer these to players who don’t win, or they won’t have any significant value. However, there are a few that do provide some actual value for sports bettors. Bovada.lv is the most trusted sportsbook online and the one with the longest track record. Bovada is the only major U.S.-facing sportsbook that has a VIP program and offers 1% cash-back on all sports betting wagers. These can be turned into cash (points to cash) and only have a 1x rollover rate before they can be withdrawn.
Reduced Juice Bonus
Juice refers to the amount of vigorish charged on each by a sportsbook. The standard vig on both sides of a bet is -110 on both sides. However, reduced juice sportsbooks will offer players a price break in the hopes of getting more betting volume. Pinnacle Sports, the largest sportsbook in the world, has reduced juice. However, for US players, there are limited options. 5Dimes Sportsbook is the best for reduced juice bonus options for U.S. bettors. They’re not our top choices, but both have reduced juice betting markets, which can save bettors a lot of money in the long and short term.
Deposit bonuses are the bonuses given to players when they sign up and make their first deposit. They’re typically only valid on the first deposit and may require a bonus or promotional code. In some cases, they can be used on the first few deposits made on a new account. Rollover rates on deposit bonuses are typically 15x. MyBookie.ag offers the best first deposit bonus to players with a 50% up to $1,000 and an exceptional rollover at 10x.
Reload bonuses are similar to deposit bonuses in that they have similar terms. Like deposit bonuses, they are typically given in the form of free play. The difference is that reload bonuses are offered after you have already made a first-time deposit, received a bonus, and cleared it or ran your account to zero. Reload bonuses are standard at many sportsbooks, but some offer them seasonally for significant events, such as the start of the NFL Season, March Madness, or the Super Bowl. Again, MyBookie.ag offers one of the best reload bonuses online at 25% Up to $1,000. This is a standard bonus and available on every account.
No Deposit Bonus
No deposit bonuses are bonuses that are offered to bettors that do not require a deposit. These are quite rare and usually aren’t above $50. These are not very common for sportsbooks that accept Americans. Even though there is no deposit required for these bonuses – they will still come with a rollover, but one that is quite small (3-5x). SportsBetting.ag regularly does credit players with no-deposit funds after they made an account and deposited. This isn’t quite a no-deposit bonus (since you had to make one previous deposit first), but it is one that is offered to existing customers and without the need to head over to the cashier.
Since mobile betting has exploded in recent years, many sportsbooks have opted to give bettors a bonus or free bet wager for trying their mobile betting products. It’s a significant area of focus for betting sites these days, and there are quite a few sites that will try to entice their customers into betting on mobile with their products. SportsBetting.ag offers an extensive list of promotions including a 50% up to $1,000 Sign Up Bonus and reloads. Sportsbetting’s $50 Free Play for mobile betting available for all users on their first $50 wager.
If you’re just getting back into sports betting websites, you might not be aware that cryptocurrencies are now the preferred option for offshore sports betting. Bitcoin is the most widely accepted choice at online sportsbooks, but there are several others cryptos which are gaining popularity, such as Ethereum, Litecoin, and Bitcoin Cash. Since they’re far cheaper to process than fiat-currencies, such as the USD, sportsbooks will often entice bettors to deposit using cryptocurrencies by offering bonuses. These can be quite large in some cases and can compare deposit bonuses and welcome bonuses. Bovada has an excellent Bitcoin or Bitcoin Cash Bonus which is worth 50% up to $500. It is also on the lower end of rollovers at 5x.
Refer-a-friend or referral bonuses are given to bettors who refer their buddy to an online sportsbook. Bettors will receive a bonus by referring their friend through email if they sign up and make a real money deposit. The refer-a-friend bonus will typically be tied to the amount your friend deposits but can easily be in the several-hundred-dollar ranges. GTBets.eu has some of the best bonus offers online as most of their bonuses are cash bonuses rather than free play. GTBets refer-a-friend bonus is the most generous among other betting sites. Get your buddy to sign up and deposit an receive a 50% up to $400 at GTBets.
Welcome Bonuses Usage – Bankroll Buildup
Bonuses are an essential part of building a bankroll, especially if you’re new to sports betting. If you have not bet online before, then you can quickly get yourself thousands of dollars in free play or free bets if you sign up at a few online sportsbooks. The top gambling offers online can easily get into the thousands of dollars of free play.
For example, say you decide to deposit at MyBookie.ag and opt to get the maximum bonus (50% up to $1,000). Well, you’ve instantly added $1,000 in free play to your account. Since it comes with a rollover of 10x, it’s not quite the same as you liquid cash, but it gives you a lot more freedom when betting and wagering as it instantly adds funds to your bankroll. All things being equal, players should opt for cash bonuses as they have more value, but there are several strategies you can use to clear free play and other deposit bonuses.
Bonus Rollover Requirements
Each bonus whether it be a cash bonus or free play bonus will come with a rollover requirement. The rollover is typically the amount of the deposit + the amount of the bonus x rollover rate = rollover amount. The rollover is the amount that must be wagered before you can withdraw any winnings associated with the free play. The standard rollover rate is usually 15x, but this can vary quite wildly between gambling sites. The best betting site bonus offers will have smaller rollover rates. As a rule, the bigger the bonus amount, the higher the rollover.
Betting Bonuses & Offers Types – Read The Fine Print
Of course, with any bonus, there comes terms and conditions. The sportsbooks just can’t hand out money for free. One thing to do before you accept any bonus offers and is at least glance over the fine print in the terms and conditions. It’s not necessary to read every word, but it’s vital to skim the upper part of the terms and understand the main details of the bonus, such as rollover rate and what market are eligible for the clearing of bonuses.
SportsBetting.ag for example, doesn’t allow payouts for 30 days after you accept a bonus. This isn’t a draconian rule, but something that makes sense if you take a bonus offer. Other betting sites also have similar rules. Another factor to consider besides the rollover rate is which are eligible for bonus rollovers. In most cases, propositions, such as player and team props do not qualify for clearing bonuses. Bets that are -150 or -200 may also not be available for bonus clearing.
Another factor to consider is how the rollover is calculated. Some sportsbooks use the risk amount, and others use the “to win” amount when calculating the clear rate. Usually, it’s the smaller of the two that derived into the clearance of the bonus, but in some cases, it is the larger number.