How to Assess Sportsbook Bonuses

Almost every online sports betting site today offers each new member a guaranteed sign-up bonus. 

I've joined countless sites over the past 10 to 15 years, and one of the main reasons I keep returning to so many of them to place regular bets is the sheer volume of lucrative bonuses and promotional offers I can typically benefit from.

An online betting site where you can wager on the world's biggest professional sporting events, leagues, and competitions is called a sportsbook. However, some people, myself included, sometimes refer to them as online bookmakers. 

If you want to learn more about the most common bonuses you will likely encounter on these sites, but more importantly, how you can get the most out of any special offers that you claim, you're in luck.

Best Bonuses

BetOnline

$250 in Free Bets

$250 Free Bet

Bovada

$750 Bonus - Tons of Betting Options

$750 Bonus

BetAnything

150% Bonus - Reduced Juice

150% Bonus

Free bets/free sports bets 

These give you a chance to place a bet on any market of your choosing but must be priced at a certain amount (e.g., 2.00 decimal odds or greater, which is EVENS (1/1) in fractional odds, and +100 in American/moneyline odds. A deposit is often required to receive a free bet, which might be as low as $/€/£5, 10 or 20. Before betting on the final scores, see if you have any free bets available in your account

Risk-free bets

These may or may not require a minimum deposit to unlock. Either way, if you lose, you will receive your bet back in money in the form of another free bet for the same (or similar) odds

Match bonuses

Also known as the matching deposit promo, where you must make at least the minimum required deposit amount to unlock the reward. For example, a 100% match bonus is where you double up on your deposit

No deposit offers

No deposit is required to unlock this one, and I think I'm not alone when I say that this is by far the most lucrative and highly elusive of all online sportsbook bonuses

Refer-a-friend perks

Sometimes, website operators may drop a small free cash bonus into your account for each friend you invite (up to a maximum of five usually), but your friend/colleague/relative must sign up and usually spend X amount within a certain time before you receive your bonus, so this particular offer isn't generally worth it

VIP and loyalty rewards

Website operators these days like to reward loyal registered members with frequent cash gifts, free bets, extra loyalty points, free prize draw/raffle ticket entries, free spins for selected online fruit machines, and so on. Real-world prizes, like the latest electronic gadgets, luxury vacations, cars, and more, can also be won

Odds boosts 

Also known as price boosts, which means they offer even more highly competitive odds than any of their rivals for specific markets, meaning you can get more winnings on your initial stake than you would on other sites if your bet is successful 

Cashback bonuses 

Daily, weekly or monthly cashback bonuses are also quite common. The amount of cashback you receive after betting is typically based on your net losses over a certain period. For example, you might be able to get up to £100 cash back each month or, perhaps, 10% per day or week on your total net losses. Each site is different

What Else to Look For…

There are many other things to assess before choosing which online sportsbook promotional offer might be right for you. For example, some offers are worth a lot more than others, but the site may not be trustworthy, so always be careful when choosing which sites to join. 

Don't just sign up somewhere because of the welcome offer because, in most cases, the offers that sound too good to be true usually are. 

I suggest sticking to legally permitted sites controlled by reputable/top-tier operators with excellent track records like those currently featured on the world-famous askgamblers.com review site. 

When assessing how good the offer is, the first thing you will notice is the value. For example, some offers may be worth up to £200 or more, and others may only be worth £2.00 to £10.00, but that doesn't necessarily mean the £200 promo is better than the £10 offer. 

Some of the other key factors you must pay close attention to have already been mentioned above. 

For example, when claiming free bets, try to look for one with NO minimum odds (very rare to find) or with minimum odds of at least around 2.00 (1/1 or +100) or lower to boost your winnings should your bet be successful. 

The wagering requirement (also referred to as the turnover, playthrough, or rollover requirement) is another important factor to consider. I only claim free bets with 40x or lower wagering requirements attached and will usually avoid claiming them with a 50x, 60x, 70x or higher wagering requirement attached. 

Always remember, the lower this number is (the wagering requirement), the quicker you will be able to complete them in the allotted time, so the better it is for you. Finally, don't forget to assess which payment methods must be used to unlock the offer and what the minimum deposit amount (if any) is to unlock it.

You don't want to deposit £10 using PayPal to claim a bonus and then discover straight after depositing that the minimum deposit amount to unlock the offer was £20, and only debit cards were included in the promotion. My best advice would be to read the terms and conditions to ensure you never miss out and always get the most out of any offers you claim. 

The Ts and Cs also tell you about the cashout limits, the max/capped winnings per offer, and which sports you can bet on [or which games you can play on] while using your free bet or spins. 

Remember to stop and think twice before claiming any promotions you are offered. Also, I've always stuck to the golden rule of only claiming one promo at a time to avoid confusion. 

Today's safest sites provide several handy and reliable safer gambling tools, meaning you can now easily remain well within your spending budget by setting session time reminders, deposit limits, spending caps, win/loss limits, and so on.

I (AKA CatBurg) have a lifelong passion for sports, especially football and basketball. I enjoy the thrill and excitement of sports betting and everything in between. My teams are (Packers #GoPackGo) and who I am betting on!