Everything About Sports Betting Bonus Types Explained

Betting on sports may become much more profitable if one uses different bonuses. Bonuses are available for new users and loyal bettors exclusively at online sportsbook sites. In this guide, you will find the most popular betting bonus types explained. 

It’s been a long time since online bookmakers have surpassed offline betting agencies. Betting on sports, entertainment, politics, and other events on the Internet is easier, faster, and much more beneficial. The latter is possible thanks primarily to bonuses. Nowadays, the majority of online sportsbooks in the UK offer bonuses of different types and values to their bettors. At the same time, a very limited number of offline bookies have those.

All types of betting bonuses have their own types, benefits, and requirements. Bettors who have been loyal to sportsbooks, as well as newcomers, may receive different types of rewards. To know what to expect from betting bonuses, read our ultimate guide.

About Sportsbook Bonuses

Sportsbook bonuses, also known as betting bonuses, are one of the best parts of online sports betting. A bonus is a certain reward given by online sportsbooks to their registered users as a reward for a certain action. It is an easy way to boost your bankroll but they also come along with wagering requirements.

Why do sportsbooks offer bonuses? The answer is simple and quite predictable: there is enormous competition in the betting market. Through bonuses and promotions, the bookies try to encourage new bettors to sign up for their sites. Another reason is making existing players stay and keep betting at this particular site. In their turn, bettors receive an opportunity to place bets with bonus cash and not their own money. Let’s see which types of bonuses do online bookmakers offer to keep their users’ attention.

Popular Betting Bonus Types Explained

Bonuses may help bettors increase their winnings if they know how to use those bonuses in a proper way. That’s why every bettor should know how to claim different types of bonuses and how each of them works.

Most online sportsbooks offer a wide range of betting bonuses to their bettors. Each bonus has its own terms and contains different types of rewards. Also, no sportsbook gives bonuses for nothing. In order to claim any bonus, the bettor has to meet certain conditions and wagering requirements. Below, you will find all the most popular betting bonus types explained.

So, the majority of online gambling sites in the UK and other countries offer the following types of sportsbook bonuses:

• Welcome bonus
• Deposit bonus
• Free bets
• Risk-free bets
• Money back
• No deposit bonus
• Reload bonus
• Referral bonus

Welcome Bonus

The most widespread type of betting bonus is given to new bettors only. Welcome bonuses are usually packed with bonus funds that match the first deposit the newcomer makes after signing up. Most sportsbooks give a 100% bonus on top of the initial deposit. It means that in the case of depositing $100, the bettor gets $100 in bonus cash. Besides bonus funds, the welcome packages may include many other perks. 

To withdraw a welcome bonus or any other bonus, bettors have to fulfill wagering requirements set by a sportsbook. Each site has its own rules regarding the bonus withdrawal. Commonly, one has to spend a certain sum of money on betting before getting the bonus.

Deposit Bonus

Like welcome bonuses, a deposit bonus is given to bettors for making their first deposit. However, this type of betting bonus doesn’t give anything except bonus funds. In other words, bettors can expect to receive a 100%, 200%, or even 500% bonus on their first deposit but that’s it. No other rewards are given for making the first deposit. Also, bettors can claim either a welcome or deposit bonus but not both of them.

Free Bets

Free bets are similar to deposit bonuses but certain peculiarities have put them into a separated group. A free bet is bonus cash that is given to bettors on top of their first deposit. However, these funds can usually be spent on selected bets only. For example, if a sportsbook requires one to bet on a certain team to win by the odds of 15.00 or more, a free bet can potentially win on this outcome only.

Risk-Free Bets

At Bet365 and some other online sportsbooks, bettors can find risk-free bets. Understanding them is pretty easy. 

If one makes a bet and loses, the amount of this bet returns to an account in the form of credits.Those credits can be spent either on selected or all bets at an online betting site.

No Deposit Bonus

Here you have one of the best betting bonus types explained. Every bettor likes no deposit bonuses as they are given just for signing up for a sportsbook. The bettor has to make no deposit to receive a no deposit bonus that usually comes as a free bet.

However, withdrawal of this bonus is the most difficult part. If you bet on sports using the bonus and win, you cannot take your winnings until you fulfill wagering requirements. All in all, you will have to make a deposit and place a certain number of bets to claim your winnings.

Money Back

Money back bonus is another popular betting bonus and one of the bettors’ favorites. It allows bettors to get back a part of their bets if they lose. Most online sportsbooks return money in the form of free bets.

Reload Bonus

Bettors who have been registered at a sportsbook for a long time may receive reload bonuses. These are bonuses for the next deposit one makes. Unlike deposit bonuses that match the amount of your initial deposit, reloads are given for the second/third/fourth deposit. Usually, you can expect to get from 10% to 50% on top of their next deposit.

Referral Bonus

Loyal bettors who invite their friends to join their online sportsbook may get a referral bonus. Many online betting sites in the UK offer referral bonuses with various perks to their users. To claim the bonus, one has to invite a friend via a special link or code. If that friend signs up and makes a deposit, the one who referred him is rewarded.

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How to Claim Bonuses at Online Sportsbooks

Although we have already explained how different bonuses work at sportsbooks, there is one more thing to learn. To have everything about betting bonus types explained, read how the process of claiming bonuses looks. 

To claim any sports betting bonus, bettors have to:

• Find a reliable and legitimate online betting site
• Check the site for bonus offers and promotions
• Choose a bonus they’d like to claim
• Go through terms and conditions carefully
• Enter a bonus code if necessary or click on the bonus offer to sign up
• Get a bonus after creating an account and making the first deposit if necessary
• Fulfill all wagering requirements before withdrawing the winnings