There are multiple types of bonuses available to sportsbook players, each with their own pluses and minuses. Understanding the nuances of the different types of bonuses available will help you to know what the right bonus is for you and when you should take advantage of a particular deal. Being smart in researching and selecting sportsbooks based on their bonuses can gave you a significant amount of additional money to bet with during the course of a season.
The most common types of bonuses involve putting money into an account with a sportsbook. Almost all sportsbooks offer a percentage bonus of at least 20 percent for setting up a new account. So if you put $500 into an account with a sportsbook with a 20 percent first-time bonus, you’ll actually wind up with $600 in your account. If you put $500 into an account that has a 50 percent bonus, you’ll end up with $750 in your account. Many sportsbooks also offer a bonus for reloading your account if you’ve run low or out of money.
Other sportsbook bonuses are more creative. Some sportsbooks will offer customers free bets in order to keep them interested and encourage them to use their money on other bets at the site. These can be small bets held on big events throughout the year, while some sportsbooks will see your sign-up bonus come in the form of a free bet. A sportsbook might give you a free bet equal to your initial deposit. If you pick a winner on your free bet, you have effectively earned a 100 percent sign-up bonus, but if your play loses, you basically receive no sign-up bonus.
Sportsbooks might also “match” a bet, effectively making each $1 you bet worth $2. Some sportsbooks might even guarantee to pay you a percentage of your losses back at the end of the season if you make a certain amount of bets. There are loyalty programs, in which you earn merchandise or free bets just by placing wagers at a sportsbook, while some sportsbooks allow you to earn free money for referring a friend to open an account. Look at the bonuses each sportsbook offers to determine which one is the best for you.