What you need to know about bonus hunting
One of the best advantages about opening a sports betting account is that you get sweet rewards when making a deposit. The industry average is around 10%, but you can find bonuses in the 50% or so range. (Head over to the sports bonus page if you want to check specifics for each betting site.)
We all know sports betting can be challenging, so it’s great that you can start your account with a profit. However, if you’ve never researched these bonuses before, you’ll want to read our guide. They are not all the same and some are different.
Not all bonuses are equal.
The first thing you want to find out is the type of bonuses they offer. Some sportsbooks will match you and fund your account, others will be on the mechanics side. Some options you might see:
Free Play: Free Play is a sports book that gives you free bets. If you lose your bonus will be lost. If you win you will make a profit. Since you don’t maintain a real play count, free play bonuses usually come with a higher percentage. That’s one way they grab your attention.
Cash: For most people, this is the best bonus. If sportsbooks offer you a 10% cash bonus, that means no matter how much you deposit, they will add 10% to your account. What you want to do with the money is up to you. This is ideal for most people because you don’t have to think about playing for free once and where you want to bet. With cash you can use it as you want. If you win you still have the bonus along with the profit. Since cash is better for customers and worse for sportsbooks, you will generally find that cash bonuses are smaller than free play bonuses.
Cash back: Some sports books will give you the option of getting a refund instead of paying in advance. Some people like this option because it acts as insurance for the odds. If you have a bad year and your account runs out, the sportsbook will come in – on a specific date – and give you a bonus. This bonus is usually cash.
Reload: Another important factor to keep in mind when you shop for bonuses is whether the sport sbook has a reload bonus. Almost every book has an initial deposit bonus and it is because they want to bring you closer. But it’s nice to get a bonus every time you deposit. You will find that if you shop around.