The gambling industry in the U.S. is bigger than ever these days and only expanding further. Nowhere is this more evident than online, as more and more online sportsbooks and casinos open their virtual doors.
Not only are there new and completely legit online sportsbooks and casinos opening up in certain states where gambling is now legal, but there are also offshore sites with years of experience. There is action everywhere, and this amount of competition has been great for online gamblers.
Online sportsbooks and casinos are doing all they can to get your action. The odds they offer and the juice they set will differ wildly from site to site.
You’ll find sites with certain games or sports you won’t find anywhere else. Many of these sites are using big promotions to get your business, and free bet bonuses are one of the best ways they do this.
However, it is important to know that there are several kinds of bonuses that online sportsbooks and casinos make available. Free money is always great, but there are many factors to consider before accepting any bonus from an online gambling site. Here we will explain how these bonuses work, what they require, and if they are as helpful as many believe.
Free bets, risk-free bets, and deposit matches are just a few of the most popular bonuses online gambling sites offer their customers.
These are the three bonuses you’ll see the most, and they, by far, carry the most value for online gamblers. They may sound very similar, but there are very big differences, and it is important to know what they are.
The words “free bets” is a pretty good way to attract attention to your online gambling site. However, these promotions are not the best you can find and are quite misleading.
Depending on the site, these free wager bonuses will allow you to place one free wager with no money down. All customers have to do is create a profile. Once your profile is live, you’ll be allowed to place one wager before making a deposit.
However, these casino and free sports bets are not very big, usually ranging from $5 to $25. There is nothing wrong with a free $5 wager per se, but is that worth joining a new online gambling site when there are better bonuses out there? Probably not.
That said, a free bet is a free bet, so if you are considering a new online gambling site, it would be worth reading up on exactly how big the free wager is and if it is worth your time.
A risk-free bet is a promotion for users who have made a profile as well as a deposit with the gambling site. It allows users to place a wager just as they normally would.
Then, once the wager has been decided, you will keep the money if you win and be reimbursed for your initial wager if you lose. This way, you don’t lose any of your money and, hence, the “risk-free.”
The risk free bet bonus is very similar to the free bet bonus, as they are both usually only good on the very first wager you make after activating the bonus. This is important to remember before signing up.
Also, just like the free wager, this is a one-time offer. Winning one does not get you another. However, unlike free wagers, risk-free wagers are usually much larger, with some sites even offering $500 risk-free bets.
Of course, this means you would need to have $500 available in your account. Depending on how much you are comfortable depositing, you may be able to double that amount after just one bet.
The final option of these standard bonuses is the deposit match bonus. Of the three, this is probably the most popular and valuable. Here, the online gambling site will match your initial deposit.
These will vary from site to site, but you will be able to earn free money just for making a deposit. Some sites will match 100% of your first deposit up to $400. Some will give you 50% up to $200.
Plus, not only is there the initial deposit, but these bonuses can also be used more than once, depending on the site. These “reload bonuses” are also matching bonuses and are available on many sites.
These are valuable bonuses, and being able to get them more than once is a great feature online gamblers need to look for from their online gambling site.
Deposit match bonuses are everywhere, and the value they bring to the table is some of the best you’ll find. At some gambling sites, you can double your deposit immediately. Of course, just like every bonus, there are plenty of rules and restrictions to keep in mind.
Knowing how to claim your bonus offer is of the utmost importance. You want to be sure you receive the bonus but also because there are many rules which could apply to said bonus.
Every site is different, and the types of bonuses they offer will vary. Although these sites are different, you will find their interfaces to be quite similar, and claiming your bonuses usually happens in one of two ways.
First, some bonuses are simply applied to your account as soon as you sign-up and make your initial deposit. It is important to know when this is the case because your first wager may reflect the bonus. Although this option is the simplest, it can cause some confusion.
If you are collecting a free bet, you will not have to make a deposit, and your first wager will reflect the bonus. It is important to never deposit before you cash in your free wager first.
The free wager is meant to pad your account before you make a deposit. After all, if you don’t collect on that first wager, there is no point in continuing with the gambling site.
On a risk-free bet bonus, you’ll have to make a deposit. The catch here is to place your initial wager on its own, so there is no confusion.
Also, keep in mind, it will take some time for this risk free bet to be processed. Be sure to wager the entire amount and, if this wager comes in, be prepared to wait a few days to see the returns.
If the wager doesn’t win, you’ll be reimbursed, and this can take a few days to be processed as well.
On deposit match bonuses, your bonus will be added to your account immediately with your initial deposit.
The second way to claim your bonus is to apply the bonus code. Depending on the site, new users can apply their bonuses on the “Deposits” page or the “Promotions” page.
Once applied, the bonus will appear in the player’s account, whether it is a free bet, risk-free bet, or deposit match.
The most important question one should ask before accepting any bonus is, “What’s in it for me?” Most bonuses look great on paper. Who doesn’t want free money in their account or a free bet in their back pocket?
Nothing could be further from the truth. You need to choose a bonus that works for you, your bottom line, and your betting style. Otherwise, you haven’t collected anything at all.
Sometimes, bonuses can backfire and lock you into longer commitments than you like. Some bonuses are tougher to collect on than others.
And some bonuses are not as generous as they originally appear. Of course, there is a way to avoid any of these headaches, and that’s to simply read the fine print.
To ensure you are collecting the right bonus for you, pay close attention to the fine print of every bonus on the table. Reading the fine print on the internet or in real life is always sound advice, but especially on the internet.
These bonuses come with a lot of rules and restrictions that will directly affect how you can use the bonus, and you need to know what they are to utilize them effectively.
Once you’ve accepted a bonus, you will be subject to the restrictions which come along with it. For instance, you may be restricted to only wagering certain sports, wagers, or amounts.
This is true for every bonus as well. Bonuses such as free wagers and risk-free wagers will come with these types of restrictions.
However, even deposit matching bonuses will carry plenty of restrictions, and they are enforced by what is known as “play-through requirements.”
Online gambling sites are not going to hand out huge bonuses only to allow the recipients to cash those funds out immediately. This is not a good business plan.
So, to be sure the players taking these bonuses use them at the site, play-through requirements need to be met before any withdrawals on those funds can be made. These play-throughs will vary from bonus to bonus and gambling site to gambling site.
Therefore, it is important to read the fine print to know exactly how much you are going to have to play before you can collect your bonus.
Keeping all of this information in mind, the ultimate question remains: which bonus is best? Unfortunately, there is no universal answer to this as it is completely dependent on you and your gambling style.
However, to help you toward the right bonus here is a quick look at the positives and negatives that each bonus brings to the table.
Free bets sound great, but they offer little overall value. These bonuses come with restrictions, limitations, and even play-throughs. The amount of free wager is usually very low (such as $5 or $10, maybe $25 if you are lucky), and you often only receive one of them.
Even if you win, you are not done, as the play-through requirement will have your deposit bet enough to make your withdrawal. Unless the free betr is for a large sum of money and comes with no play-through, it probably isn’t worth your time.
Risk-free bets are much better than the free wagers. Of course, these require you to deposit as you will not be able to wager what you don’t have.
Being able to put a large amount of money on a certain game risk-free is a huge plus. Therefore, this wager is perfect for gamblers that don’t lay a bet very often.
There will be restrictions and play-throughs, but they are much smaller than free wagers or deposit matches.
By far, deposit matches are the most popular bonuses available from online gambling sites. These have the most value as you can essentially double your initial deposit immediately.
This is the perfect bonus for online gamblers who place a wager often, on multiple sports or both. With deposit matches, you are sure to get heavy play-throughs but not much in the way of restrictions.
Plus, if you gamble often, you’ll have no problem meeting the play-through requirements.
The key to choosing the right bonus is knowing which one is right for you. Are you placing wagers every day? Or are you the type of gambler that bets big every-so-often?
Do you bet on preseason games or only the Super Bowl? With the right timing and correct bonus, you can pad your account nicely, ensuring a great payday when it’s time to cash out.
Remember, forget the free bets as they don’t have any value. Use the risk-free bet offer if you are the type of player who likes to place big wagers on big games.
However, if you are an avid gambler who places wagers all the time, find the best match bonus you can.