While there really isn't a “bad time” to bet on sports, now is a great time to find new sportsbooks that you can call home this upcoming season and take advantage of all the online sportsbook bonuses.
One of the best feeling’s is depositing money and finding out you have more to bet with than what you put in. Let’s take a look at how bonuses work and some of the best bonuses in the industry today.
First Deposit Bonus
There are different types of bonuses involved with sportsbooks. One of the easiest and the most common is the Initial Sign Up or First Deposit Bonus.
This type of bonus is just how it appears. You are given free bet money or free cash just for signing up and making your first deposit. This bonus is typically anywhere between 25% and 100% of what you originally deposited.
Now, don’t make the mistake and think you can automatically cash in on that money. The bonus is credited inside your account, but you will have to earn it by betting. There is a “rollover” amount which is determined by each individual book.
A good example of a generous first deposit bonus would be our friends at BetDSI. They offer a 100% deposit bonus when you use promo code “Spooky15”. So, you deposit $200 into your account, and they give you a 100% deposit bonus or an extra $200.
Again, keep in mind the different rollover requirements needed to cash out each bonus given.
Free Play vs. Cash
One question that comes up a lot when looking at deposit bonuses is — what is the difference between a “Free Play” bonus and a “Cash” bonus?
Let's take a look…
- Free Play Bonuses: You only keep the winnings of the bet.
- Cash Bonuses: You keep both the winnings of the bet and the original wager amount.
Most sportsbooks these days offer their deposit bonuses in the form of “free play bonuses”. If you can find a sportsbook that offers a great cash bonus offer — jump on it!
GTBets is a perfect example of a sportsbook offering a “CASH BONUS” on your deposit. They offer a first deposit cash bonus of 100% up to $250 or 50% up to $500. You must use promo code “SPOOKY15” at signup!
The next type of bonus at a sportsbook is a Reload Bonus. There aren't many sportsbooks that offer these type of bonuses. But some do on occasion, there are a rare few that will provide you with a bonus with each deposit.
But, just like the signup bonus there are some stipulations. The size of the reload bonus is going to be much smaller than the deposit bonus.
Many times, you will not see a reload bonus over 20%. Bookmaker is a great example of a site offering a nice reload bonus.
On top of the 100% bonus on your initial deposit, Bookmaker will give you 20% Reload Bonus on each deposit! To get started at Bookmaker, be sure you use promo code “Spooky100”.
Most reload bonuses are still subject to rollover, just like the signup bonus. The reason sportsbooks offer reload bonuses, is they want to keep customers with them, and give them incentive to try again, if you (the bettor) are running low on funds.
Free Bet Bonus
The third type of bonus you may find is a “Free Bet Bonus.”
Some sites offer this, and again, some sites do not. With this, you are offered a free bet when you place your first real bet. The sportsbook will match the amount of the first bet.
For example, if you deposit $100 and you make a $100 bet, you will also get a free bet for $100. Each bet then is independent of each other; it’s not like a parlay.
Most sportsbooks then will require a rollover to release the free bet winnings. You will need to read up on this in the terms and conditions when you sign up and deposit at the website. This is a great promotion for many sportsbooks.
Another type of free bet would be in hockey per say, where they will offer money back on any bet made in a particular game if a certain player scores a goal. Most of the time this money is then paid in the form of a free bet.
Cash Back Bonus or Rebate
The fourth type of sportsbook bonus is when a sportsbook gives you a Cash Back Bonus based on the amount of action you send them. This is a nice perk, but again very uncommon to see.
WagerWeb is one example of a sportsbook that offers this type of bonus. They give back one dollar for every $200 wagered in the casino, a two percent return every week in the sportsbook, and up to 13 percent back every week in their race book.
On to top of that, you can choose a 50% Cash Bonus for all your deposits which cannot be beat anywhere in the industry. You must use bonus code “Spooky200” to take advantage of these bonuses at WagerWeb.
No Deposit Bonus
The next type of sportsbook bonus is a No Deposit Bonus. When you get offered this type of bonus, the customer does not need to transfer funds before playing for real money.
This is a very rare bonus when it comes to sportsbooks, and this type sometimes has an extremely high rollover. But we do have an example of a sportsbook that offers this.
GTBets offers Spooky readers a $15 free play credit just for signing up! This is before you even deposit money into your account. Simply sign up for a new account with the Promo code SPOOKY15 and you will start with some FREE MONEY!
NOTE: Minimum & Maximum Deposits
Keep in mind that when you are getting ready to join a new sportsbook, many places will have a minimum and maximum deposit when it comes to bonuses.
A sportsbook may not give you the signup bonus if your deposit doesn't meet the minimum deposit limit.
On the other side, let’s say you are lucky enough to get a 100% deposit bonus when you first deposit like you do at Bookmaker. They set an upper limit on the amount of bonus you can get as well. Bookmaker has a maximum deposit bonus in place of $300.
Make sure you check out the minimum and maximum deposit amount when you are signing up, and especially before taking advantage of one of the great bonuses that are available here at Spooky Express.
Top Online Sportsbook Bonuses
There you go. That’s a look at some of the best bonuses when signing up for a sportsbook. We hope you enjoyed the Bettors Guide to Sportsbook Bonuses and best of luck with all your sports betting! Click here to Check Our Spooky Express Recommended Sportsbooks.