Online sportsbooks have a number of different ways they can reward their players and attract new ones. Some offer free money to bettors, while others provide loyalty programs. There are even a few that accept cryptocurrency payments and have special bonuses for those who choose to use them.
All online sportsbooks have some kind of bonus offers to lure in new customers, and they can vary widely in terms of their size, conditions, and value. Generally, these promotions are meant to encourage betting activity on sports events and games by adding extra money to the player’s account. Some of these bonuses require a certain minimum amount of bets to unlock the free money, while others have wagering requirements that prevent players from withdrawing their winnings. The best way to keep up with these offers is by signing up for email alerts or visiting the promo page of the sportsbook.
One of the most popular types of sportsbook free bonuses is a no-deposit bonus, which allows players to sign up and begin placing wagers immediately. Usually, this will be equal to the player’s first real-money wager. If the bet wins, the winnings are then credited to the player’s cash bankroll, but the initial deposit will still be deducted from the final payout. This is why it’s important to read the fine print carefully on these offers.
Other types of sportsbook promotions include free matched bets and deposit match bonus offers. A matched bet is where the sportsbook will match the amount of your first bet with bonus funds, up to a predetermined amount. This is a common welcome bonus offered by US sportsbooks, and it’s a great way to get started with the site and test out the odds. However, this type of bonus money can’t be withdrawn as real cash and is only valid for the duration of the bonus period.
Deposit match bonus offers work a little differently than free matched bets in that they match a percentage of the player’s first deposit with bonus funds, up to a certain limit. This is also a great way to try out the sportsbook before committing any money and comes with low rollover requirements.
Other sportsbook bonuses can be found as well, including reload bonuses and cashback bonuses. Reload bonuses are similar to welcome bonus offers in that they add money to a player’s account, but they can be utilized time and time again, making them more useful for existing members. Cashback bonuses, on the other hand, are more like a risk-free bet in that they’re only available during a short window of time and come with no wagering requirements attached. These are more often offered by a sportsbook for their existing customer base.