5 Major Types of Sports Betting Bonuses You Should Know

Owing to the neck-to-neck competition in the sports betting world, online sportsbooks keep offering various types of bonuses either to retain existing players or to attract new players. These bonuses are of different types, e.g. those offered upon signing up or those offered as rewards to loyal customers and even those offered on larger deposits. If you know all these types, you may earn a decent amount just with these bonuses and hence you should have their knowledge. So, let’s explore!

1. Welcome Bonuses

Welcome or signup bonuses are provided by most sportsbooks. They are offered when you sign up for an account on a sportsbook site and make your first deposit. Mostly, welcome bonuses in sports betting are a particular percentage of the deposited amount. If it is not so, it’ll be a small bonus amount. The objective behind the welcome bonus is not only to keep you attracted as a new player, but also to provide you a help to start with a larger bankroll. Normally the percentage offered is 50% or 100% of the deposit. Thus, if you deposit $100 initially, the sportsbook site will offer you another $50 or $100.

2. Cash Bonus

A cash bonus is a smaller bonus offered by online sportsbooks. They are different from the percentage bonuses. They too are offered at the time of signup but are a fixed amount yet smaller. However, you are at liberty to use this bonus for any type of event or wagering.

3. No Deposit Bonus

A no deposit bonus is also offered to you at the time of signing up so that you can place a few wager without having to make a deposit. Since these bonuses are free, they are often small. Sometimes, sportsbooks can also offer these bonuses during a special event or promotions, like a major golf tournament, NBA championship, Super Bowl, a famous car race etc.

4. Reload Bonuses

Reload bonuses are offered by many sportsbooks once you sign with them and receive the first bonus, and make your next deposit. It’s relatively smaller than a welcome bonus. Sometimes they are offered not regularly, but only at the time of special promotions.

5. Free Bet Bonuses

Free bet bonuses enable you to place wagers without having to risk your own money, i.e. you receive them without making a deposit. If you win you can have the winnings. Normally these bonuses are provided after you place at least a single wager on any sporting event. Mostly free bet bonuses are offered after you complete certain wagering requirements.

Visit Bonus.Wiki to know about various welcome bonuses offered by different sports betting sites. By knowing about them, you can earn a lot if you use these bonuses smartly.