Most online sportsbooks offer attractive welcome bonuses in a bid to stand out in a crowded market. They also provide reload bonuses and other promotions to ensure their customers do not leave for a rival sports betting site.
How Do Sportsbook Bonuses Work?
Most sportsbooks require you to sign up for an account and deposit some of your own money to unlock your welcome bonus. They then match your deposit amount with free bet credit.
For example, MyBookie will give new customers a 100% deposit match welcome bonus worth up to $1,000. If you were to deposit $1,000 of your own money, you would be awarded $1,000 in bonus funds, leaving you with an account balance of $2,000.
You will either receive a cash bonus or a free play bonus. If you get a cash bonus, your stake (risk amount) will be returned along with your profit. For example, if you place a successful wager at odds of +125 with a $100 cash bonus, you will be paid $225.
If you get a free play bonus, your stake is not included in the return. If you placed a winning bet at odds of +125 with a $100 free play bonus, you would be paid $125.
What is a Rollover Requirement?
This refers to the number of times that you need to play your bonus funds through before it becomes available for withdrawal as cash. It is also known as a playthrough requirement, a turnover requirement, or a wagering requirement.
For example, there is a 10x rollover requirement attached to the 100% sign-up bonus at MyBookie. If you received $100 in bonus cash, you would then need to place $1,000 worth of wagers before it would take the form of cash.
You generally have a certain period of time in which you must complete the rollover requirement, such as seven days or 30 days, and you may need to play it at minimum odds. Check the terms and conditions for more details.