One of the best things about signing up for a sportsbook is the free bets and bonuses that are on offer.
But what are free bets and sportsbook bonuses? And how can you get them?
In this short guide, we’ll be running you through everything you need to know.
First Deposit Welcome Bonus
Practically all bookmakers offer a risk-free bet in the form of a welcome offer to get you started. Also known as a welcome bonus/welcome offer (or package), this offer is only open to new customers, and it’s the first of free bets offered by sports betting sites. It’s also typically the first bet many customers place when they sign up to a sports betting site.
How does this free bet work?
You just need to join a sportsbook by creating a new account, before making a deposit. To trigger the free bet, this is usually anywhere from between $5 and $20.
Then, you’re eligible for the free bet. Sometimes, you can use a bonus code to grab the sign-up offers.
This free bet offer varies from site to site, but it’s typically a matched bet offer. This means that it matches your deposit or stake.
For example, a 100% match deposit bonus up to $500 will give you $500 worth of free bets if you make an initial deposit of $500.
Or, a 50% match depots bonus up to $250 will entitle you to $125 worth of free bets if you make an initial deposit of $250.
Free Bet Offers
There’s nothing quite like a free bet.
But while risk-free bets are definitely free, they always come with specific terms and conditions decided by each individual sports betting site.
How do free bets work?
Typically, a free bet works like this:
Let’s say you sign up for a sportsbook and place a few bets. After a week, the sportsbook tells you you’ve got a $1 free bet to place on any sporting event of your choice. The free bet will likely come with a deadline it needs to be used by, but other than that, the $1 is yours to play around with.
The rub is that most sports betting sites will require that you rescind the stake once the bet has been placed.
For example, if you were to place a $1 bet on a 5/1 shot and it won, you would normally win $5 plus your stake. That would total $6. With a free bet, you would win $5 but the $1 stake would be returned to the bookmaker.
Free bets are typically offered sporadically by sportsbooks, with some sports betting sites offering more free bets than others.
What Other Types of Sports Betting Bonuses Are There?
There are lots of different types of sports betting bonuses that players can claim. These include reloading bonuses, which are very similar to the first deposit bonus, except they can be redeemed after you’ve made a second or third deposit. They’re not as big as the first deposit bonus, but they’re still a lot of fun.
Other bonuses include cashback bonuses if your bet loses, free spins to be used in the online casino section of the sportsbook, free play in the casino games, and various other specials that are exclusive to each sports betting site.