Types of Bonuses
When it comes to sports betting bonuses, you’ll find there are a lot of different types out there that offer different things and come with different kinds of restrictions.
Some are more generous than others, some will require you to bet on certain games, and some will require you to bet multiple times before you can withdraw your winnings.
We’re here to break down the different sportsbook bonuses and help you find the ones that are best for you.
Why Are There Different Types of Bonuses?
Sportsbooks will offer different types of bonuses to either entice new players, reward consistent players, or bring back old players.
You will usually find that bonuses for new players are the more generous ones, as they’re looking to try and increase their user base.
However, if you are a high-volume player at a sportsbook, they are also likely to reward you with generous bonuses to ensure that you keep playing at their site.
What Are the Different Types of Sports Betting Bonuses?
As well as different motivations for providing sports betting bonuses, there are also differences in what the types of bonuses offer you as a player.
Some bonuses will allow you to make a free bet where you keep all the winnings, some will offer a risk-free bet where you get your money back as a free bet if you lose, and some will boost your odds on certain games.
Let’s take a closer look at the most popular types of bonuses.
|One-Off Match Bonus
|These are set amounts (usually $5/$10) given to you by the sportsbook that you can use to bet on any outcome of a sporting event. With a free bet, you only get to keep the profit you make. For example, if you bet $10 at even money and win, you only get the $10 in profit; you don’t get the free bet back.
|These are bets you make with your own money insured by the sportsbook. If you win, you get your bet back and your profit as you normally do, but if you lose, you get your money back as a free bet.
|These offers are similar to a free bet, but you are free to split your money between several bets. For example, if you’re given $10 in bet credits, you can bet $4 worth on one match, $1 on a parlay, and $5 on another game.
|These bonuses apply to a specific sporting event, usually a marquee game. They can take the form of boosted odds on a specific result, risk-free bets, or early payouts.
Tips for Choosing Your Type of Sportsbook Bonus
Choosing the type of sportsbook bonus that works best for you will depend on what you’re looking for in a bonus, and on the bonuses your sportsbook offers.
Not all sportsbooks offer the same bonuses, so it might happen that you have to change providers if you’re looking for a certain sports betting bonus.
Look for Free Bets – The free bets or bet credits are the best value sportsbook bonuses you can find. These bets offer no risk to your bankroll but allow you to keep all the profit from your bet.
Check for Event Bonuses – Some sportsbooks will offer bonuses on large sporting events, such as notable finals, so always check your sportsbook to see if there are offers you can take advantage of.
Always Check Wagering Requirements – While some offers may seem attractive, they could have high wagering requirements in their terms and conditions, making it less likely that you get to keep any of the bonus money. Always check them before you select your bonus.
Pros and Cons of Sports Bet Bonus Types
While sports betting bonuses are net positives for us as players, they aren’t perfect, and they have some downsides. Let’s examine the pros and cons for each bonus type we’ve covered.
☺Free Bets/Bet Credits – They offer you a risk-free way of growing your bankroll.
☺Risk-Free Bets – You get a second chance to win money even if your first bet loses.
☺One-Off Match Bonuses – Increased odds or risk-free bets are available on games that you were likely going to bet on, regardless.
☻Free Bets/Bet Credits – You only get to keep the profits you make from these bets, meaning you often have to bet longer odds games to make the most of the bonus.
☻Risk-Free Bets – You cannot withdraw the money you receive after losing a risk-free bet, and you’re forced to wager it again.
☻One-Off Match Bonuses – There is no flexibility, as the offer only applies to one specific match.
Why You Should Pay Attention to Sports Betting Bonus Types
Knowing the different types of sports betting bonuses will not only help you decide which sportsbook to sign up with, but it will help you understand exactly what you get from each bonus.
Types of Bonuses in Sportsbooks – FAQ