Maximize Sportsbook Rewards With Ongoing Promotions
Based on our experience and research, we break down the different kinds of lifetime bonuses and rewards available at online betting sites, and their applicability to your betting style. Thankfully, you’ve got a lot more freedom to pick your bonuses than you do your favorite sports team.
Understanding the lifetime value of the ongoing bonuses offered by a sports betting site is integral in maximizing what you get out of your betting experience. If your plan is stick with a sportsbook and bet for any sustained period, you should doubtlessly be selecting one that incentivizes your loyalty; one that offers you perks like reload bonuses, refer-a-friend bonuses, and cashback (rebate) bonuses and other VIP rewards.
Ideally, there would be no need for a reload bonus; you could just win every bet you ever make! In reality, you’re going to make a few picks off the mark and will need dip into your pockets to deposit again at some point.
Based on our research, 56% of Sportsbooks offer reload bonuses
Some sports betting sites offer you reload bonuses, usually matching you at somewhere around the 20% mark. They may be a far cry from the massive 50-100% matching bonuses you often receive with sign-up bonuses but reload bonuses do indeed make a tangible difference when you’re planning out your bets. If your plan is to both bet and withdraw funds frequently, reload bonuses incentivize you to stick with one particular sports betting site. Additionally, if you only plan to bet on say, 3-4 major events a year (the Superbowl, March Madness, the NBA Championships, and the Stanley Cup), this is a valuable ongoing bonus to keep in the back of your mind.
Another lifetime bonus for your consideration is the refer-a-friend bonus that many sports betting sites offer. This bonus is relatively simple; for every friend that you refer to a sportsbook, the sportsbook will credit you with a deposit once your friend makes their initial deposit. Obviously, the size of the deposit the sports betting site offers varies widely, but as a general rule of thumb the percentage is between 50% and 100%; usually, the maximum amount they’ll credit you with isn’t gigantic. Regardless, this is a useful type of promotion if you think you’ve got some friends, family, or a ton of people in the office you can convert or introduce to a sports betting site. Easier than turning rival fans to rational thinking, that’s for sure!
Another lifetime bonus for your consideration is the refer-a-friend bonus that many sports betting sites offer. This bonus is relatively simple; for every friend that you refer to a sportsbook, the sportsbook will credit you with a deposit once your friend makes their initial deposit.
Naturally, the size of the deposit the sports betting site varies widely, but as a general rule of thumb the percentage is between 50% and 100%; usually, the maximum amount they’ll credit you with isn’t gigantic. Regardless, this is a decent type of promotion if you think you’ve got some friends, family, or a ton of people in the office you can convert or introduce to a sports betting site. Easier than turning rival fans towards rational thinking, that’s for sure!
- Based on our expert trials, 52% of Sportsbooks offer refer-a-friend bonsues
Cashback (Rebate) Bonus
Cashback and rebate bonuses and promotions are relatively self-explanatory, but the extent of their value to a prospective bettor isn’t that obvious on the surface. Essentially, for every dollar you lay down on a bet, the sports betting site offers you a certain percentage back in your bankroll. This reimbursement alters your bankroll management, and your betting strategy, in a significant way. The percentage or dollar figure that you stand to collect in the event of a loss drastically alters your calculation of value in your bets.
If you’re at the point (or expect to be at the point), where you’re crunching numbers to generate the best value for your bets, you’re probably a reasonably seasoned bettor. Further, reimbursement bonuses mainly focus on particular sports (frequently, horse racing) so if you’re thinking of placing bets mainly in one specific sport or league, search out a sports betting site that offers this lifetime bonus.
- Based on our expert trials, 32% of Sportsbooks offer Cashback (rebate bonuses)
An added benefit of continued loyalty to sportsbooks is the VIP rewards benefits they offer to their best customers. VIP rewards programs go by many different names: VIP, Loyalty, Rewards, or a combination of the three. These VIP rewards programs come in many shapes and sizes, and they often integrate cashback (rebate) promotions, which are detailed above. The best part is that you are automatically registered these rewards programs, by and large. No fuss at all, just benefits! In our survery, 36% of sportsbooks offered loyalty programs.
Some sport betting sites will offer you a variable percentage free play on every new deposit you make, but only if you meet their criteria as a valued client. The percentage of free bets made available to you per deposit will increase as you place more bets with sportsbook. These free bets made available to VIP members often carry a much lower rollover than say, welcome bonuses.
Another type of VIP program is based on rewards points, which are redeemable for cash in your account. Each time you wager on a sporting event, you will receive a reward point. Usually, it is one reward point per dollar wagered, but this does change between sportsbook and sportsbook. After earning a certain amount of points by betting on sports, you are able to then redeem these points for a cash reward. For example, if you were to earn 10,000 points, you would be eligible for a $10 reward. These cash rewards are subject to rollover, but usually a much smaller rollover than with welcome bonuses.
Some sportsbooks, such as Bovada, build on loyalty points and add tier points to their loyalty programs. In addition to redeemable reward points, some sportsbooks keep track of your total points to determine which tier of VIP benefits you fall into. Every new tier incurs new betting benefits. The benefits of these tiers are a higher cashback (rebate) reward percentage, and fewer reward points required to redeem points for cash. In essence, tier programs combine many of the best features of cashback and rewards points and integrate them into one system. The more you bet, the higher your tier, the greater your benefits!
The benefits of tier programs don’t top there. If you reach the highest tier, it is possible that you will be eligible for the final status level, which in the case of Bovada is the elusive “Red Room.” This final tier features highly exclusive cash rewards and offers, weekly deposit bonuses, free expedited payouts, and top-notch customer service. Additionally, there are “Red Room” exclusive events, as well as exclusive prizes.
- Based on our research, 36% of sportsbooks offer Rewards Programs
- VIP rewards programs go by many different names: VIP, Loyalty, Rewards, or a combination of the three.
- Usually, you are entered into rewards programs automatically
- Most common benefits of Rewards Programs are cash back on deposits, free plays, and rewards points that are redeemable for cash
- Some sportsbooks offer tiered VIP programs the benefits are variable but include highly exclusive cash rewards and offers, weekly deposit bonuses, free expedited payouts, top-notch customer service, free withdrawals, birthday gifts, frequent flyer rules, gift cards, and even live game seats!
Unlocking Hidden Bonuses & Promos
One rarely mentioned, and highly significant aspect of sports betting bonuses is, the fact that with a few clicks, a call, or a single email, you can often receive un-advertised, secretive, hidden bonuses that are hiding beneath the surface of sports betting sites. As a general rule, unlocking these bonuses isn’t possible for brand new bettors; you must place a few bets with a sports betting site before you can access their hidden bonuses.
Our team of experts dug around a variety of sportsbooks, calling customer service, sending a few inquisitive emails, and placing bets on some relatively obscure portions of a sports betting site, and we were pleasantly surprised to know that sportsbooks incentivize this kind of behavior with some extra bonuses. The secretive bonuses lurking between the surface are varied in their character; they won’t be massive deposit bonuses, but they vary from extra refer-a-friend and cashback bonuses to hefty reload bonuses.
You never know what you’ll get or what is possible to unlock by making a few inquiries about the possibilities of hidden bonuses; we found that making a query pays off with a reasonable amount of success.