• September 30, 2023

How to Use Sports Betting Bonuses in 2023

Sports betting is amidst a boom period in the US. Pre-2018, it was outlawed throughout the United States, except for Nevada. Yet, now thirty states, plus the District of Columbia, allow it. Going by the latest stats, in 2021, revenues from this pastime in the US reached $2.1 billion, and this figure gets projected to grow five-fold by 2028.

One of the primary reasons for the rise of this sphere is the proliferation and wide availability of high-end sports betting websites. These platforms supply a wealth of wagering markets and provide various opportunities for gamblers to do on-the-house betting. That is possible through diverse bonus offers that supply varied perks, often as free-play cash or complimentary wagers. Here is a quick breakdown of how most of these promotions work and where to find the best ones.

The Different Types of Bonuses

The chief bonus category in the online gambling sector is the deposit match. That is a promo where an operator matches a bettor’s deposited funds using a predefined percentage. It is more common on the casino side. Yet, it can get also found on premium internet sportsbooks. It usually comes as a part of a registration package or an offer supplied to existing users for specific day deposits.

Free bets are the online sports betting staple, and these are promos where the operator offers to cover a wager if the bettor loses it, up to a specific amount, usually up to $25. However, sportsbook users do not receive cash back if they lose but get credit to make a new wager.

On the topic of cashback, it gets called Rakeback in this sphere, a term originating from the poker world. It is a rebate that gets supplied mainly to loyal players through VIP schemes that involve point accumulation and feature multiple tiers. The percentage of Rakeback platform users receive always depends on their VIP level. Most sportsbook apps have distinct formulas for discovering how much of a bettor’s losses they should pay back to his account. The listed percentage may get predefined at each level, but how it gets calculated can differ from site to site.

Odds boosts and free swag are a couple of popular promotions that Web bookmakers sometimes give out to their user pool. In short, odds boosts are when a sportsbook increases the payout for a money line, the total bet or point spread on a specific game.

Promo Terms Everyone Must Know

Wagering requirements, also known as rollovers, are the bane of most online gamblers’ existence. That is because they are the main roadblock en route to sportsbook users enjoying the fruits of their sports betting knowledge put to good use utilizing bonus funds. Rollovers are nothing more than multipliers that signify how many times over a bettor must wager his deposited funds before becoming eligible for a bonus withdrawal. While most deals boast rollovers of x30 to x40, sportsbook ones customarily fall in the x10 range.

Note that this stipulation must be met within a specified deadline, and traditionally, free-play funds can only get bet on events with a wagering coefficient above a set limit. They will also list a minimum deposit and the types of bets one can make using the allotted promo cash. Also, promo codes may be necessary for activating many sportsbook promotions. These may get found at the gambling sites that supply these deals or in chat rooms, message boards, newsletters, forums, social media pages, etc.

Remember to follow all listed promo rules and avoid using software that can circumvent geo-blocks. That is unwise as it can lead to account closure.

The Best Online Sportsbooks & Offers

Without argument, the top internet sports wagering promo out there, in many veteran bettors’ eyes, is BetUS’ main welcome reward that can generate up to $3,125 upon registration through a 125% match. Every honest BetUS review will point out that 4/5 of the funds supplied through this bonus must get used on sporting events, and 1/5 should go to playing casino games. BetUS, one of the World Wide Web’s initial gambling sites, also has an exclusive deal for crypto bettors, giving them a match of 200% up to $2,500 for coin-based deposits.

MyBookie comes in second place regarding giving sports gamblers a warm welcome through its virtual doors. It attains this spot via a registration deal that can yield up to $1,000 through a 100% match. Many tout this site as the premier spot for wagering on US sports, as it runs several highly-attractive contests during March Madness and the NFL season.

To Sum Up

The info presented above should act as a sufficient guide to sportsbook promotions. Gamblers who grasp the concepts laid out in this article are ready to grab free gambling funds and discover if Lady Luck is in their corner using operator money.

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