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One of the most exciting things about starting to bet at a new site is checking out the best bet bonuses they give out. Years ago, these large betting bonuses were used to entice new players to try out a different sportsbook. That is still the case today but keep in mind, these bonuses now have many more conditions surrounding them than they did a decade ago.
We will take a look at the different types of sports betting bonuses, how they work, how you can claim. We'll also have a glance at promotion codes in the sports betting industry.
Types of Betting Bonuses
There are two main types of betting bonuses to cover in this section.
First Time Deposit Bonus: Almost all online sportsbooks offer this type of betting bonus. These are usually the largest bonus amounts given out on a betting site. On your first deposit at a sportsbook, they will give you a percentage of that money in the form of a bonus. For instance, if the site offers a 100% bonus on deposits between $100 and $1,000, and you deposit $1,000. You will receive $1,000 in bonus money as well. Let me emphasize again, this is only on your very first deposit. So consider taking advantage of a larger deposit to get a bigger bonus.
Reload bonus: If your account balance starts to get low, you can reload your account. When you deposit for a second or a third time, you may get a bonus for this. This bonus amount is usually smaller than a first-time deposit bonus, but it’s still nice to have when you are ready for a betting reload.
Hopefully that helps explain the different types of betting bonuses. Let’s now look at how they work.
How do Sports Betting Bonuses Work?
Let’s lay out the steps you have to take to be offered sportsbooks betting bonuses.
- Sign up for a new account
- Deposit money into your account
- Use a promo code (if given)
- Follow instructions to receive your bonus - we will expand on this one a bit. Some sites give you an instant bonus for the said amount. This will then show up in your account. Other sportsbooks make you contact their support team to request your bonus. Don’t just expect the money to be there. Read the Terms and Conditions of the sportsbook and follow the instructions closely to ensure you get your full bonus.
It’s as simple as that. Sign up, deposit, promo code and done! Now you can start using the bonus money to bet on different sports and hopefully win some money.
How to Claim your Sportsbook Bonus?
Sportsbooks have started to put conditions on bonuses, making them a little harder to take advantage of. Below is a look at how you can claim different types of betting bonuses.
Incremental as you bet: You may not receive your entire betting bonus right away. Sometimes they will release this bonus as you bet on sports. The more you bet, the faster this bonus is deposited in your account.
Instant (but can’t withdraw it until it’s been played through): This is the most common type for sportsbooks. They will put your bonus into a separate 'bonus account' and as you play with it, it gets rolled into your real money account.
You’ll want to double check the sportsbooks Terms and Conditions to see what type of bonus they offer. Regardless, betting bonuses are a good thing and a way for you to increase your bankroll just for using a specific site.
What are Betting Promo Codes
You have heard us mention 'promo' or 'promotional codes' or 'betting promotions' several times in this article. What are they? Let’s take a look.
Some sites make you enter a code to get your bonus. Each code is associated with some sort of bonus amount and the terms around it. You can check the promotions page or sports betting forums for the latest and greatest promotion codes.
They do have expiry dates, so you’ll want to look at the dates the code is valid for. To cut a long story short, you should really ask about promo codes before you deposit money into any sportsbook. You never know what kind of great betting bonus they may have waiting for you.