If you’re new to sports betting, a first deposit bonus can help you get started. These bonuses are usually a percentage of the amount you invest, and they’re designed to attract new players and increase revenue for sportsbooks.
The most common type of sportsbook sign-up bonus is a deposit match. These offers typically come with a minimum deposit and a certain value of site credits that you must wager before they expire.
Sign-up bonuses
Sign-up bonuses in sports betting are promotions that operators provide new customers to encourage them to make wagers on their sites. These bonuses typically include free bets or deposit match offers. Some sportsbooks also offer a rebate of a portion of the losses on some bets. The size of these bonuses varies, but they can be worth up to 5% of the amount that a player wagers on a particular event.
The types of sign-up bonuses offered in the world of online sports betting vary from site to site, but most follow similar steps. The most common method for claiming these promotional offers is to enter a special promo code, which is normally available with just a click of a button. Other requirements are sometimes attached to these promotional offers, such as playthrough requirements or minimum bets, and they often have an expiry date.
Most sportsbooks will only give out a new customer offer once to any individual, and this is one of the main reasons why it’s important to read the terms and conditions carefully before claiming a bonus. It’s also a good idea to check whether a bonus is applicable only to your first bet, or if it can be used on any subsequent bets you make on the same account.
Another way in which sportsbooks try to lure new customers is by offering a referral bonus. These are often in the form of free bets, but they can also involve cash rewards and additional bet credits. They are effective tools for attracting new players and promoting loyalty among existing ones.
Whether these sign-up bonuses are worth taking depends on the value they bring to your betting experience, and the way in which they are delivered. For example, some sites like bet365 will credit your account with bonus money which can then be turned into real money if you meet certain rollover requirements. Other sites may prefer to credit your account with bet credits, which can only be converted into real money if you earn a profit from winning bets and meet the minimum turnover requirement.
The best sportsbook sign-up bonuses will give you a chance to try out the site before committing to any bets. This is an excellent way to determine which site is right for you. However, it’s important to remember that these bonuses are not a guarantee that you will enjoy your betting experience with that site. The fact is, different sportsbooks cater to different types of bettors. So, if you find one that doesn’t suit your needs, there is always the option of signing up for a new account with another sportsbook.
Deposit bonuses
Sportsbooks offer a variety of deposit bonuses to entice new customers. Bonuses can include free bet credits, second-chance bets, and match-up bonuses. Each bonus comes with its own set of terms and conditions. Understanding these terms can be difficult, especially since many sportsbooks use complex jargon to obscure their terms and conditions. It’s important to read these terms and conditions carefully before making a wager.
Generally speaking, the best sports betting signup bonuses are offered by sportsbooks that offer competitive odds and strong promotions. FanDuel, which was born out of the daily fantasy sports craze, has one of the strongest sportsbooks on the market and offers an excellent user experience. FanDuel also offers a wide range of sports betting signup bonuses and deposit matches, as well as reload bonus codes and odds boost tokens.
Deposit bonuses reward new bettors based on the size of their initial deposit. These can be in the form of a flat amount of site credits or percentages of an initial bet up to an advertised value. Many of these promotions come with a playthrough requirement, meaning that bettors must place certain amounts of wagers before the bonus is available for withdrawal.
Bonuses also exist to reward existing users for bringing in new business. Referral bonuses are a popular example of this. Oftentimes, sportsbooks will give existing players unique codes that they can share with friends and family to earn bonus bet credits when those friends make their first bet.
Aside from the more eye-catching deposit bonuses, many sportsbooks offer ongoing promotions as well. These can be a great way to keep existing customers happy and boost their bankrolls. These are often offered in conjunction with sporting events, and can be found on sportsbook homepages or through special landing pages.
During the Super Bowl, for instance, DraftKings ran a fantastic “Bet $5, Get $280” promotion to attract new NBA fans. Similarly, Caesars offered Super Bowl betting bonuses whereby anyone that placed 10 prop bets won a bonus bet. These bonuses are a good way to test out various sportsbooks without having to risk your own money.