Betting on live sports is more popular than ever. We have the rise of online access to thank. Not only do 30 states now offer some form of legal online wagering, but the rise of esports competitions has created an entirely new market for the industry, one replete with both more wagering options and the ability to reach otherwise inaccessible demographics.
Naturally, with online sportsbooks now handling more business, they have really upped their promotional game. Gone are the days when users strictly have to rely on “Welcome” bonuses as their primary extras. Indeed, these sign-up promotions remain. But they are now complemented by a wide-range of other specials—bonuses for certain deposit types, for select tent-pole events like major esports tournaments, for general reloads, for days of the week, the list goes on.
All sportsbooks worth their salt will cover the full spectrum promotional options. Like Henry Shepherd writes in his exhaustive BetOnline bonus review for Vegas Betting, the company “offers a mix of sportsbook and casino bonuses, including crypto-friendly welcome offers, reloads, and seasonal promos tied to major sports like the NFL, March Madness, and the World Cup,” in addition to other perks such as weekly rebates on facebook loses and odds boosts on major events.
This is objectively great news for responsible sports betting enthusiasts. Emphasis on “responsible.” The fine print on sportsbook bonuses demands special attention to detail. Sites may be offering you free money or bets, but they come with stipulations that aren’t always clearly explained.
With this in mind, let’s run through some of the terminology you might see when capitalizing on your own sportsbook bonuses, so that you can know what they mean.
Watch Out for “Rollover” Requirements on Sportsbook Bonuses
This is the most common fine-print caveat when it comes to sportsbook promotion. Almost any deposit bonus you receive will be subject to a “rollover” requirement.
For instance, let’s say you join a sportsbook that matches 50 percent of your first deposit up to $500, with a 14x rollover requirement. Then, let’s also say that you make your first deposit for $1,000.
In this case, you would receive a $500 bonus from the sportsbook, because that’s 50 percent of your initial investment. However, before you cash out that money, the 14x rollover means you must wager the bonus 14 times over. In other words, you have to make $7,000 worth of bets using that $500 before it’s official yours.
To be sure, a 14x rollover is not the industry defaults. These terms and conditions vary by site. You might see 5x rollovers. Or 10x rollovers. So on and so forth. Regardless, it’s important to know what they mean. This way, you can structure your wagers—and frankly, overall sportsbook choices—accordingly.
Not All Markets are Covered Under Sportsbook Bonuses
Depending on the site, you might find that deposit and reload bonuses or free bets do not cover all markets. This is purposely vague, and it can mean anything.
“Some betting bonuses may exclude certain [sports] or bet types from contributing toward wagering requirements,” writes Jade of Sweet Softies. “For casino bonuses, certain games may be restricted or contribute less towards meeting [rollover] requirements.”
Fortunately, most sportsbooks will list the leagues, events or bet types that don’t contribute towards your bonus requirements. In the event they don’t, you can usually find the answer in an FAQ section or by opening a chat box with customer service support.
Of course, the ease with which you can find this information should factor into whether you use a sportsbook at all. Especially because, nowadays, restricted markets on promotional money are nowhere near as common across the industry.
Verification Processes Can Change When Using Sportsbook Bonuses
Extra layers of security typically accompany sportsbook bonuses. While the personal information you are provided is largely the same, deposit promotions may require an extra step or two when it comes to verifying your identity.
Adding this step to the process usually isn’t that inconvenient, if it’s inconvenient at all. For the most part, it is a matter of waiting an extra business day or two before the bonus money is confirmed for your account. In more extreme cases, sportsbooks may put a hold on your deposited funds until everything checks out.
This is done for a few reasons. Most notably, sportsbooks want to insulate themselves from those attempting to exploit the same welcome bonuses over and over again.
Plenty of customers will open multiple accounts to circumvent “one per user” rules. Adding the extra verification steps allows sportsbooks to track emails or IP addresses.
Whether that’s a deal-breaker is up to you. The larger point: If you are creating a sportsbook account with the intention of using a welcome bonus, don’t be surprised if it takes slightly longer before your account or the bonus in question is activated.
Be on the Lookout for Sportsbook-Bonus Expiration Dates
This is perhaps the fine-print stipulation that most people miss. They automatically assume rollover requirements are the only gauge for how often they must use free bets or deposit bonuses.
However, many sportsbooks assign expiration dates to promotional cash. These terms can and will vary—not only by sportsbook, but by bonus type.
As an example, a sportsbook might require new customers to spend their deposit bonuses within 30 days while also mandating that any free bets options be used within seven days.
There is no hard and fast rule for what makes a good expiration window. Generally speaking, though, the longer you have to use your promotions, the better your experience will be. So this is something you’ll want to keep in mind not only when signing up with a sportsbook, but when considering all existing-customer promotions you might be inclined to use.