Sports betting has increased in popularity and the market for sports betting is growing every year. When sports betting became available online and smartphones revolutionized our daily lives so did it revolutionize the way, we bet on sports. Online bookmakers have made it easier for everyone to bet on sports. For new players the online sports betting world can seem like a jungle and therefore tough to navigate. This article seeks to explain the different kinds of bonuses the sportsbooks use to draw the consumer in and furthermore how you can draw advantage of them.
Deposit bonuses
The deposit bonus is the most common bonus for the online sportsbooks and as the name suggests it has to do with a bonus, you acquire when you deposit money into the sportsbook account. Usually it is offered when you first create the account and constitutes an increase in your funds, when depositing money. It varies from bookie to bookie how much of an increase it is but it can vary from 50% increase to a 100% increase. This means that if you deposit 100$ you have the possibility to increase that amount to 150$ or even more depending on the deposit bonus rules.
There is a catch though. The bonus acquired has a rollover usually around 5x or 8x. This means that you have to play for 8 times the amount of the bonus size. So if you have received a bonus for 50$ you have to play for 400$ to be able to cash out.
Match Bonuses
Sportsbetting consists of betting on matches across all sports. Match bonuses are a way the sportsbooks reward their customers and encourage them to bet. Match bonuses are easy to understand. They are some of the more lucrative bonuses and therefore it is mostly as a special promotion offer on some of the biggest sport events of the year. Champions League finals, The Superbowl, FA Cup Final, World Cups etc. The match bonuses often is an increase in odds on some of the outcomes of the game. For example, let's say Liverpool and Chelsea play each other in the Champions League final and usually the bookmakers have Liverpool at odds 1.50 to win the game. A match bonus could increase the odds to 7.00 for Liverpool to win the game and therefore you have the ability to win way more than you were supposed to.
Free bet bonuses
This is a bonus that has been increasingly popular over the recent years. The free bet bonus is different from other bonuses in the way that it requires you to get money back if you lose. It creates safety and certainty for the user. The way the free bet bonus works is that you get an offer from the bookie to place a free bet - on a fixed amount - on either a game of their choice or placed on anything your heart desires. If you lose, you get the money back and if you win, you have won the money - no rollover.
BetMGM has one of the best free bet bonuses available right now. If your first real money sports bet loses, they will refund you with a free bet up to $500. You can see a review of BetMGM over at WSN