How do betting bonuses work?

In the dynamic world of sports betting, every advantage counts. Whether you're a seasoned punter or a novice exploring the realm of online wagering, one factor that can significantly boost your chances of success is the strategic use of sports betting bonuses. These enticing incentives have revolutionized the way enthusiasts engage with their favorite sports, providing an extra edge and amplifying the thrill of the game.

In this comprehensive guide, we delve deep into the realm of sports betting bonuses, uncovering their true potential and shedding light on how they can empower you to maximize your earnings. To start things off, here are the best sports betting bonuses currently available in the US.

By far the typical type of bonus, the sportsbook will match your first deposit, up to a certain percentage, from anywhere between 10% and 200%. For example, a promotion that offers 100% on your first deposit will effectively double your stake - if you deposit $50, the bookie will also deposit $50 as a reward for signing up. Such an offer will come with conditions however so it’s important to read the exact terms before committing.

For instance, any money won on the back of a successful bet, is likely to be in need of being ‘rolled over’ - played a certain number of times to lessen the chance of you walking away with any money (note that bookies aren’t out to just give you money and need to protect themselves from potentially losing large amounts).

The rollover requirements, i.e. X15, will always be stated but still, reading the terms of the offer is still crucial to avoid disappointment.

Bet & Get offers are rising in popularity among sportsbooks in the US currently. For example, you may see sportsbooks offer bonuses such as Bet365's "Bet $1, Get $200 in Bonus Bets".

What this means is that when you make a qualifying bet of at least $1, you will get $200 in bonus bets.

These types of bonuses do require you to lay down some money at first, but you were probably going to do that anyway if you're there to bet on sports. The great thing about these offers is they don't depend on you losing your first bet in order to offer you any type of value, like a second chance bet or other bonus bet offer. Simply make your first qualifying bet, and then win or lose (in most cases) you will get bonus bets back.

Second Chance Bets are arguably one of the most common types of betting bonuses offered by sportsbooks today.

A second chance bet tends to fall in line with a big sporting event such as the Super Bowl or a particular game the sportsbook wants to promote. Refund offers and money-back specials are the most common ways a second chance bet will be offered.

As a simplified example, with a second chance bet, if you wager on the Lakers to beat the Warriors, but the Warriors end up winning, the sportsbook will return your stake in the form of site credits, thus giving you a "second chance" to win.

It’s always good to have the opportunity to try new experiences for free and this does exactly that. As the name suggests, this bonus requires no deposit and you will be issued free site credit(s) upon completing the sign-up registration.

A promotion that actually does give free site-credits is a favorite amongst bettors given the chance you have of wagering without risking money of your own.

As mentioned though - and it’ll be a phrase word you’ll be accustomed to - consider the terms. Money won from a no deposit bonus won’t be eligible for withdrawal until you make a deposit into your account. This serves as a deterrent for bettors looking to abuse the offer and open numerous accounts.