Most online sports betting platforms and websites have amazing promotions, bonuses and offers. Bettors can take advantage of these offers to make their betting experience more fun. While some local live betting venues may be able to offer you some promotions or betting specials. But the opportunities offered on online sports betting sites are not only better, they are also numerous.
Through online sports betting, you can even earn thousands of dollars through bonuses. So, as you win bets, you can earn extra money through bonuses and a variety of different promotions. This makes online sports betting an exciting and stimulating adventure for many people, as they are earning much more than ever before.
What are sports betting offers?
Sports betting offers are opportunities for sportsbooks to build their money by offering users bonuses (including welcome bonuses, first deposit bonuses or risk-free bets, etc.), odds boosts (better odds for specific results), and more.
Sports betting offers are available throughout the year, usually on a weekly basis. They can cater to major sports events or specific sports. Always take note of the latest offers, as they put you in a better position to become a sports bettor!
Why do sportsbooks provide offers?
Sportsbooks provide offers to stimulate players’ interest in their sports betting. For example, a first deposit bonus is when the sportsbook matches the first deposit made in a betting credit, which allows users to use those funds to continue building their funds. The hope is that users will continue to place bets on the sportsbook.
Offers are also available to attract users to specific betting markets. For example, there may be an NHL promotion where the user receives a certain amount of money for each goal scored by their team. Due to the benefits of this promotion, this will influence users to try betting on the NHL.
Types of Sports Betting Offers
The following are some of the most common types of bonuses. Deposit bonuses reward bettors for making large deposits and then placing bets. Risk-free bets refund lost bets with site credits up to the advertised amount. Loyalty Programs unlock new benefits for bettors who place large and consistent bets. Finally, no deposit bonuses simply provide bettors with some site credits for registration. These types of offers can be summarized as welcome bonuses or ongoing promotions.
- Deposit Bonuses
Deposit bonuses are one of the most attractive bonuses on the market. When a new sportsbook user reaches a certain amount on their first deposit, this money is immediately reflected in the account. However, they contain important terms that bettors can easily miss. Deposit bonuses are offered in the form of site credits, which can be used to win more real money. The bettor’s first deposit bonus usually determines the amount of site credits the bettor is eligible to receive. Site credits are either non-withdrawable or can be withdrawn after the clearance requirements have been met. This means that users will need to make multiple bets in order to withdraw their betting credits. For example, some deposit bonuses have a 5x pass requirement. This means that the bettor must wager $5 in order to receive $1.
- No Risk Betting
A risk-free bet is a refund of site credits that a bettor receives when a bet is lost. It is only offered in the event of a losing bet. Risk-free bets are useful because they allow bettors to place bets on specific events without incurring any financial risk, as they get their money back in the form of betting credits. However, they can also be used in small amounts as ongoing promotions. When a bettor places a bet and loses, they will receive site credits equal to the amount of the bet they lost, up to the advertised amount.
Risk-free bets are offered to new registrants when they place their first bet. Sportsbook pays out a certain amount ranging from $100 to $1,000 for a new user’s first lost bet. If a user wins their first bet, they will not receive any bet credits.
- No Deposit Bonus
No deposit bonus is a small amount of site credits that bettors receive for successfully registering. They are not hard to earn, but they don’t go far. They are just an early incentive for bettors to try their hand at betting. For people trying sports betting for the first time, it’s easier to use other people’s money than your own. So, although the amounts are usually small, they go a long way in developing future sports bettors.
- Loyalty Programs
Loyalty programs are best suited for bettors who can consistently place large bets. They track a bettor’s betting activity and reward them based on that activity. The more you bet, the bigger the reward! Each site has its own method of calculating points, but it is usually based on the number of bets, the amount bet and the type of bet. Once points have been accumulated, the use of each betting site will vary. Most gambling operations will have a level based system where each level requires any number of points to be earned to reach them. Each level will offer its own rewards to customers who have enough points. However, many of these bonus programs are exclusive to the highest levels and require a lot of work to unlock.