One of the biggest and most effective ways that online sportsbooks attract US sports bettors to their sites is through generous sign-up bonuses. Most of these bonus offers are tied to the amount of your initial deposit with a large number of online betting sites offering additional bonus offers for subsequent deposits known as reloads.
A typical bonus offer might read as follows:
50 % Bonus Up To $500
This means that the book will give you a $250 bonus on an initial deposit of $500. This marketing technique to attract new bettors comes with one big caveat; rollover requirements. If you agree upfront to participate in any bonus offer, getting your bonus cash is always going to be contingent on satisfying whatever rollover has been put into place.
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Basically, a rollover is the number of times you need to bet your original stake to qualify for the bonus money the books have up for grabs. Going back to the typical bonus offer above, the rollover requirement to receive the $250 might be ten times (10x).
This means that you would need to wager $5000 to become eligible for a cash-back reward. This figure represents your original $500 bet 10 times over. You need to also be aware that some cash-back bonuses are in the form of free bets. The $250 that the book is giving you is designed to extend your betting bankroll. Requested withdrawals from your betting account may only pertain to any winnings you accrued by betting your original stake.
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Always keep in mind that cash-back bonuses are legitimate offers. The books simply make them tougher to collect through their rollover requirements. If you are a heavy gambler looking for daily action across a number of different betting options, meeting any rollover requirement is probably no big deal.
However, the majority of recreational sports bettors could have a tough time meeting these high-volume betting requirements. In this situation, the best course of action is to decline the bonus when making that initial deposit. This way there will not be any rollover requirements in play.
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Just like the land-based sportsbooks in the famous Las Vegas casino hotels and resorts, the biggest rewards or incentives are reserved for the biggest bettors. Any customer loyalty program in the sports betting industry is based on betting volume. This is true whether you make a high number of small unit bets or a handful of big unit wagers. The books are more concerned with turning your money over than how much you have sitting in your account.
The basic premise behind bonus offers remains rather consistent across the entire online sportsbook industry. However, there could be subtle differences in the rollover rules from one book to the next. The best course of action before you open a online sports betting account at any book is to gain a full understanding of that site’s general rules, regulations and restrictions.
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You should also know the difference between a cash bonus tied to a deposit verse a free bet bonus. Some cash bonuses can be withdrawn from your account if all the rollover requirements have been successfully met. As mentioned, free-bet cash bonuses are designed to extend your betting bankroll with some additional money that is used for future wagers.
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Understanding the specific rules surrounding any bonus or incentive will help eliminate any issues that could arise down the road. Most online books are rather clear when it comes to collecting any incentive they offer. They are also trying to avoid any confusion or disputes that may arise down the road.