Sportsbook Bonuses Explained
To welcome new bettors, online betting sites often advertise deposit bonuses. You’ll often see claims like “50% signup bonus”. In this case, the player would get to play with their initial deposit plus a bonus equal to 50% of their deposit. Does this mean that you can signup with a sportsbook, and cashout immediately with a 150% profit? Well it’s not that simple.
Each sportsbook has it’s own set of “rollover requirements” that determine the amount the player must bet before he or she can withdraw their winnings with the bonus intact.
If a book requires a 5x rollover on their bonus, this means that the player must risk an equivalent of 5 times their deposit plus bonus. If the bonus in this case was 50% and the player deposited $500, they would get a bonus of $250, bringing their bankroll to $750. With the 5x rollover requirement, the player doesn’t necessarily have to place 5 $750 bets, but they will have to make enough wagers to eventually total 5x $750 = $3,750.
If that amount seems daunting, lets try SBG Global as a real-life example. They offer a 30% bonus with a 3x rollover. With that same $500 deposit, you’d receive a bonus of $150, meaning you’d only have to bet 3x $650 = $1,950. Though the bonus is smaller, it’s much easier for a casual better to obtain. Spread out over an NFL season and you’d have to bet less than $100/ week.
You can see that rollover is definitely a factor to consider when comparing books, however we don’t know how much betting you plan on doing. To make things easy for you, we’ve made a list of our top sportsbooks along with their respective bonus and rollover requirements.
In addition to the welcome bonus, most bookmakers will reward their loyal customers with reload bonuses, gambling insurance, free bets, and loyalty programs. In our experience, most online betting sites go the extra mile to keep their customers happy – more so than almost any other industry.