Using Sportsbook Bonuses to Your Advantage

Details: Category: Sports Betting; Created: Thursday, 26 May 2022 20:45

Using Sportsbook Bonuses to Your Advantage Sportsbook bonuses can boost your account. But they must be used correctly.

Key Point

– Sportsbook bonuses come in many forms, but one is the most common.

– Using sportsbook bonuses to your advantage can help you win wagers you might not otherwise make.

Take Advantage of Sportsbook Bonuses

There is a ton of competition in the sports betting industry. Sportsbooks have to offer all sorts of bonuses and incentives in order to attract new customers and keep the ones they already have.

It helps to have a working knowledge of the various types of bonuses that sportsbooks use. They are not all created equal.

Did you read our last article? We talked about understanding MLB run lines. Our readers loved it!

Different Promotions Offered

Not many sportsbooks offer free money. When they do, it is typically small amounts - $5 to $10, maybe up to $25 - and it can be used to bet with or it can be withdrawn. A sportsbook figures if you simply take the money, it’s not that large of an amount.

Free bets are a form of incentive that are exactly what they sound like. These are the most common forms of sportsbook bonus. Bettors will often see “Bet $5, Win $500.” The win is awarded with $500 in free bets. Use them like online sportsbook bankroll boosters.

Risk-free bets are another form of free bet. A $500 risk-free bet is one where the bettor must first deposit $500 and the win would be awarded in free bets.

Most sportsbooks will offer some form of deposit match. Many will match up to 100 percent of your deposit (up to a certain amount). If you put $100 into a betting account, the sportsbook matches it with $100. The $100 comes in the form of free bets and also comes with some requirements.

Rollover requirements, without getting into too much detail, mean that a bettor must wager a certain amount before he is able to withdraw any of the bonus money.

Whatever the bonus, just be sure to understand it and any requirements that go with it. Understanding these different promotions will help in using sportsbook bonuses to your advantage.

Using Sportsbook Bonuses

To get the most out of your sportsbook bonuses, here’s what you want to do. First, use your free bets on underdogs.

Bettors can never get a better advantage over a sportsbook on a favorite than betting on an underdog with a free bet. When you lose, you lose nothing other than a free bet. Your bankroll stays the same.

Are you looking for a different place to bet? Here’s what to look for in sportsbook reviews.

If you bet a +250 underdog, you win $250 on a $100 bet. There is no scenario where you can do that with a favorite, so use your free bets on underdogs.

The other way to use your free bets is on futures. Let’s say you want to bet the Super Bowl champion in July before a new season starts in September.

Using these incentives are just one of many anonymous offshore betting advantages.

Tie Up Bonus Cash in Futures

Why let a sportsbook hold your money for several months? Instead, let them hold your free bet. If you win, great! If you don’t, you didn’t have your money tied up for months in a futures bet.

One other way to use an offshore bookmaker bonus is in a form of arbitrage. It’s not actually arbitrage, but you can place a bet on the other side of one you made with your money.

Say you have the Bears at +225 and the Vikings at -250. You liked the Vikings and put down $125 to win $50. As it gets closer to game time, you start thinking about the Bears.

You take a $50 free bet and put it down on Chicago at +225. Either way, you’re good here. If the Vikings win, you win $50 and lose nothing on the free bet. If the Bears win, you lose your $125 on the Vikings but get it back with the Chicago win.