The Best Sportsbook Bonus For You (How To Choose the Right One)
*Updated August 3rd, 2018
Nearly every sportsbook has an enticing sign-up deposit bonus or an ongoing bonus that’s ripe for you to capitalize on. But how do you determine which bonus is best for you?
In order to pick the right sports betting bonus, you’ve got to consider factors like rollover requirements, odds restrictions, and time limits. In this guide, we’ll help you simplify what to look for so that you can choose the sports betting bonus that best suits your betting style.
Picking A Sports Betting Bonus: Three Things to Always Consider
We’ll dive into more detail later on, but before we begin here are the three things you’ll need to ask yourself before picking a bonus:
- What are the rollover requirements?
- Are there any odds restrictions on my sports betting bonus?
- Do any time limits or restrictions apply to my bonus?
Regardless of the sports betting bonus you pick, you’ll always have to consider rollover, odds restrictions, and any applicable time limits.
Our Top Bonus Picks
|1||Bovada Sportsbook||Get at 50% bonus on your first deposit, up to $250||Get Bonus|
|2||BetOnline||Get a 50% bonus on your first deposit, up to $1,000||Get Bonus|
|3||MyBookie.ag||Get a 50% bonus on your first deposit, up to $1,000||Get Bonus|
Big Bonuses Are More Restrictive Than Smaller Bonuses
It is important to note that as a general rule, the larger the amount of the bonus, the more restrictions it comes with. This could be a bigger rollover, time restrictions, or odds restrictions. If any of these requirements sound foreign to you, check out our guide that explains how bonuses work.
With smaller bonuses, you’ll be able to withdraw quicker, with fewer limits. Conversely, bigger bonuses will require a more substantial body of betting work to successfully capture.
For example, it would be common for a 50% bonus up to $50 to have a 3x rollover, while a 100% bonus up to $500 would come with a rollover of 10x, or even more.
High Rollover Requirements Appeal to Experienced Bettors, But Not All
If you’re willing to make a big investment at a particular sportsbook, go for a big bonus! If you’re betting big and often, clearing any bonus requirements will be a breeze.
Experienced bettors with a bigger bankroll should target a bonus with high rollover requirements, as bonuses with high rollover requirements are bigger than restrictive ones.
New To Sports Betting? Pick Lower Rollover Bonuses
If you’re just starting out betting, or aren’t sure if you’re going to stick with a particular sportsbook, the prudent move is to pick a smaller, less restrictive bonus.
Should you still be gauging your comfort level with a particular sportsbook, (or sports betting in general) choose a bonus with a low rollover.
We consider a low rollover to be between 3x-5x.
Understanding Minimum Odds Requirements When Selecting a Bonus
Some sportsbooks place restrictions on which bets count towards your rollover requirements. For instance, some sportsbooks will not count bets placed at odds under +150 towards your rollover.
Of course, in this situation, you are still free to bet on any odds you wish, the bets will just not count towards the requirements you must meet to withdraw your bonus.
If you’re still getting the hang of sports betting, we’d recommend betting with a bonus that doesn’t have any odds restrictions. That way, as you’re learning the ropes of sports betting, you won’t be limited in what events you can bet on.
Conversely, if you’re feeling confident in your betting prowess, odds restrictions shouldn’t be as big of a concern. You could look at the odds restrictions on your bonus as a challenge, and perhaps use it as an opportunity to try out some new strategies.
Being Aware Of Any Time Restrictions on Your Sports Betting Bonus
Some sportsbooks place time restrictions on your sign-up bonus.
For example, some online sportsbooks state that you cannot withdraw your bonus funds until 30 days after your bonus has been redeemed, while others state that your bonus will expire after 90 days. However, it is important to note that the bulk of sportsbooks have no time restrictions at all!
Time restrictions on your bonus should be factored in which bonus you pick at all times, regardless if you’re a professional bettor or completely green.
If you want to keep your bonus funds in your sportsbook without withdrawing them for an extended period of time, use a bonus with no time restriction. The last thing you want is to have your bonus funds disappear just because of an arbitrary time limit placed on your funds.
On a similar note, if you’re looking to clear your rollover requirements in a hurry and then withdraw, don’t select a bonus that has a waiting period assigned to it.
Use A Sportsbook Bonus That Can Be Activated With Your Preferred Deposit Methods
If you’re making a deposit with your credit card, or via a more traditional method like a bank wire or a cheque, you’ll likely only be able to access the regular bonuses at your sportsbook.
However, sometimes sportsbooks offer bonuses that are specific to certain deposit methods. Most frequently, sportsbooks incentivize bettors to make a deposit with Bitcoin, as it has the lowest fees of any deposit method.
If you’re looking to make a deposit with Bitcoin, make sure you target a Bitcoin-specific bonus. We’d recommend this over using Bitcoin to receive a conventional bonus, as Bitcoin bonuses are often much bigger than bonuses than conventional bonuses and have fewer requirements to fulfill.
Confident You Know How To Pick A Bonus?
Before capitalizing on the bonus that best suits your needs, check out our round-up of online sportsbook bonus offers. We’ve compiled a list of the most enticing online sports betting bonuses so that you don’t have to use your time digging around in the weeds when you could be betting!
Anything else you want to know about sports betting bonuses that we haven’t covered? Email Us and we’ll make sure to cover it in an upcoming article.