Online sportsbooks real money free bonus can be a great way to get started with a new betting site. These bonuses typically provide a match deposit amount up to 100%, giving you more money to wager with than you had initially invested. However, not all bonus offers are created equal. Some offer a lower percentage match while others have specific terms and conditions that must be met to qualify. You should always read the fine print to avoid any surprises down the road.

Most online sportsbooks have a minimum odds requirement for their free bets. These are usually fairly low, such as -300 or less. While these bets are unlikely to win, they can help you get acquainted with the software and layout of the site. This can be helpful if you’re not comfortable with placing bets yourself. Some sportsbooks also have unique bonus offers that aren’t available at all sites. These can include things like horse racing-specific bonus offers that only work on the racebook, or odds boosts that are updated regularly for high-profile events, such as March Madness or the Super Bowl.

Besides the free bets, many sportsbooks have special promotions for existing customers that reward them with bonus credit. For instance, some offer parlay insurance on a certain number of bets. Others offer odds boosts for specific sporting events, such as the Super Bowl or the NFL Draft. Some even have loyalty rewards programs that give players token bet credits for referring friends.

Another popular welcome offer is the risk-free bet. This is often advertised as a way to try out the sportsbook before making a big wager. The terms and conditions of these offers will vary, but most will reimburse you if your initial bet loses. Some sportsbooks will refund you as cash while others will offer the money back in the form of site credit. This may not be as beneficial to some players, as the amount of your losing wager will be deducted from your payout.

A good way to make the most of your free bets is by using them on underdogs with long odds. These bets will have a higher chance of winning than bets on favorites with shorter odds. However, it’s important to remember that you’ll never beat the sportsbook by betting on a favorite. You’ll only lose your money in the long run if you’re betting on underdogs with unrealistic odds.

In addition to free bets, some sportsbooks will also offer bonus credit on futures bets. This is especially true during NHL playoffs, when sportsbooks will hold around 25% of every bet on the Stanley Cup winner. This is to prevent large swings in the balance of the sportsbook. This is why it’s important to study the futures market and pick your bets carefully. The best way to do this is by choosing a book with the lowest total points bet on the team you’re betting on. This will allow you to maximize your winnings without increasing the size of your bets.