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To say the sports betting market is competitive today would be an understatement. Sportsbooks and bookmakers are pushing and shoving as they tussle for new gamblers and sports fanatics. Betting companies are doing more than they ever had to, to secure a new customer. On top of the list of the most effective strategies they use is offering generous bonuses, you really must check it out for the latest bonuses.
To the gamblers and bettors, sports betting bonuses are gifts they maximize on to bolster their bankroll. If you casually bet on sports, you can take advantage of various bonuses without worrying about how they work. However, if you are looking to make sports betting more than fun, you should know a few basic things about the industry. For starters, take a look at USLeaguesBetting for the best sports bonuses to get a good idea of the parts of sports betting on which this post will focus.
Why Sportsbooks Offer Bonuses
Online sports betting has grown to be a hundred-billion-dollar industry over the past two decades. The pockets of the top sportsbooks in the industry are so deep that they can afford to 'entice' new clients to join their platform. The enticement is often in the form of joining bonuses offered to bettors to learn about the system. These companies know that the more new signups they attract, the more customers they get.
Sportsbooks also offer bonuses to existing customers to keep them betting on their platform. These bonuses come in different forms and packages but are often structured to benefit the house as well. This explains why every bonus offered by a betting company has a catch.
Types of Sports Betting Bonuses
Sportsbooks offer a wide range of common sports betting bonuses. The most common types are signup or welcome bonuses offered to new customers when they deposit funds the first time. The house typically gives the customer a certain percentage of their deposit amount back as a bonus. For instance, if you deposit $100 and get a 50% bonus, the new bankroll amount will be $150.
A no deposit bonus does not require the bettor to deposit funds to his/her account to get a bonus. The no deposit bonus is often extended to new players to enable them to try out the betting platform without wagering their money. This is a popular bonus for the obvious reason that one does not need to make any payment.
Free bet and reload bonuses are also very popular. Sportsbooks typically extend free bet offers on special occasions, such as when a big sporting event is taking place. You will come across this bonus during Superbowl, soccer Worldcup, or when particular leagues are at their climax. Reload bonuses are specially structured to keep existing customers on the platform. With reload bonuses, bettors can increase their stakes to maximize wins over time.
The Catch: Sports Betting Bonus Restrictions and Limits
Sportsbooks typically place restrictions and limits on the bonuses they offer. While they say this is to minimize abuse, the restrictions and limitations are structured to favour the house. The most common restriction placed on most types of bonuses is the rollover limit or 'play-through.' This is the much that the bettor has to wager to clear the rollover rule and access the bonus money or winnings. For instance, when you make a $100 deposit and get a 50% bonus, you will have $150 ($100 + $50 bonus) to wager. However, with a 2x rollover rule, you will not access the bonus or withdraw funds until you wager $300 (150 x 2).
Time is another limitation that sportsbooks place on bonuses. Bonuses that have time limits may expire and disappear. This limitation mostly applies to welcome, free bets, and no deposit bonuses. Bookies know that carefully studied bets and properly timed wagers win at the expense of the house. The time limitation is often placed on bonuses to rush you into making arbitrary and reckless bets that lose money. Seasoned gamblers consider the available time limit when presented with a bonus offer, and so should you.
Taking Advantage of Sports Betting Bonuses
To make full use of bonuses offered by sportsbooks, you must read through the fine print of each offer before accepting it. The terms and conditions often vary with the type of bonus and the bookmaker, but once you have read a few, you will understand them all. Look out for odds restrictions, time limitation on withdrawals, and where on the platform you can use the bonus. As you get more experience with sports betting and bonuses, you will craft effective ways to apply the right bonus to place bets that win real money! Remember to gamble responsibly.
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