If you want to earn money from sports betting, you should know how and why you should use bonuses to maximize your profits from online betting sites. So, how to profit from sportsbook bonuses?
Nowadays, most online betting sites have a bonus system that they offer to new and existing users. Bonuses aim to attract new bettors to sign up for a sportsbook, while existing players are encouraged to spend more time betting on sports. Online bonuses are profitable both for bettors and betting sites. However, you should know how to use them smartly to take maximum benefit from betting bonuses.
In this guide, we will explain how to profit from sportsbook bonuses. Also, you can find the latest bonuses if you check our list of the best online sportsbook deals.
What are sportsbook bonuses?
First of all, the idea of sportsbook bonuses should be explained. What are betting bonuses? How many types of bonuses are there? This information is necessary to know before learning how to profit from sportsbook bonuses.
So, a betting bonus is a special offer that is given to new and existing users of a sportsbook site. With its help, users can increase their bankroll and have a wider selection of betting options. Bonuses come in different types with the following bonuses being the most popular at online sportsbooks:
- Welcome Bonus
- Deposit Bonus
- No Deposit Bonus
- Free Bet
- Risk Free Bet
- Reload Bonus
- Loss Bonus
- Referral Bonus
Almost all betting sites offer these popular bonuses mentioned above. Now, let’s see how you can benefit from each type of sportsbook bonuses.
How to profit from sportsbook bonuses of all types
Online betting bonuses of different types have different purposes and carry different benefits for bettors. Some of them are given to new users only (Welcome Bonus, Deposit and No Deposit Bonus), while others can be claimed by existing users. We are going to explain how to profit from sportsbook bonuses of all the popular types.
Welcome Bonus is a bonus given to new bettors for signing up for a sportsbook. They can come in different forms and contain different perks with a deposit bonus being the most widespread one.
Deposit bonuses are given to new bettors when they make their first deposit. Usually, a sportsbook gives a 100% Deposit Bonus (e.g. if you deposit $200, you receive $200 atop). However, some sportsbooks can give a 200% or even 500% Deposit Bonus.
No Deposit Free Bets
No Deposit Free Bets are also given to new players but it has an opposite to a Deposit Bonus. They are given to attract newcomers to sign up for a sportsbook and make their first bet for free without spending their own money.
Risk Free Bet
Risk Free Bet is a bonus that can be claimed by loyal players. In this case, they place a bet with their own funds but are given it back if the bet loses.
Bettors receive Reload Bonus for depositing money to their sportsbook account for the second, third time, etc. To claim this bonus, simply top up your balance meeting the sportsbook’s requirements.
Sportsbooks give Loss bonuses to players who have a series of losses. To claim Loss Bonus, you usually have to reach a certain number of losses in a row (e.g. 10, 20) and the sportsbook will offer you a cashback.
This type of sportsbook bonus is given for referring a friend. To receive Referral Bonus, you should invite your friend to sign up with a special link and wait for him to make a deposit.