Online Sports Betting Bonuses FAQs

betting bonuses faq

The world of online sportsbook sports betting bonuses is quite complex nowadays. To get the most out of any sports betting bonus you must know which one to pick. The Wonderpunter team prepared a list of the most Frequently Asked Questions in connection with sports betting bonuses. Hopefully, when you accept the sports betting bonus at an online sportsbook, you’ll know exactly how it works.

 

How Do I Get Sports Betting Bonuses?

Accessing sports betting bonuses is now easier than ever. All you need to do is open a new account and make a deposit. The sportsbooks will then credit your account with the welcome bonus. At the same time, it’s worth noting that sportsbooks still use bonus codes that you have to enter when you make a deposit. This is something that you always need to check before you make a deposit.

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What Types of Sports Betting Bonuses Are There?

There are different types of sports betting bonuses while the most prominent ones are deposit bonuses. They add a certain percentage of your deposit to your overall bankroll. Online sportsbooks give you free bets to be on any sport of your choice. There are also matching bets that enable you to double your payout potential for a particular bet. Lastly, cash backs give you back a certain percentage of stakes of your total or losing bets.

Deposit Bonuses

The first category of the bonuses is the deposit bonuses. Usually, it’s 100% of your initial deposit. If the bonus is 100% and you deposit $100. The online sportsbooks add the bonus to your bankroll after you make your first deposit. You are then free to bet with that money as you like. But there are some requirements that you need to fulfill before you can withdraw your wins to your bank account.

In most cases, you need to place bets at specific odds. The roll-over requirement attached to a sports betting bonus is 10x. Once you fulfill the obligations of the bonus terms. You can request a withdrawal of the money you’ve at the sportsbooks. Certain online sportsbooks deduct bonus money from your winnings. Therefore, bettors can use the bonus only to play with. Other sportsbooks allow you to hang onto the bonus money as well.

Free Bets

The second popular category of bonuses has the form of free bets. You can use your free bets to bet on almost any North American sport such as the NBA or the NFL. There are two important things that you need to be aware of. First, many sportsbooks force players to place their free bets on odds above a certain level. Be aware of this before you go hunting for a bet to place. Second, online sportsbooks only pay back the actual winnings from the free bet instead of the entire payout. This means you shouldn’t place such free bets on selections with small odds because it’s poor value for money.

Matching Bets

Matching bets is where sportsbooks allow you to place a specific bet. They then multiply your stake by a given amount. Initially, it doubles your potential payout in the process. That’s quite nice, of course, and it’s much better than what free bets typically bring to the table.

Reload Bonuses

Online sportsbooks also hand out reload bonuses that work like deposit bonuses. Sportsbooks reward their loyal bettors with reload bonuses. They typically come with easier conditions than welcome bonuses. They are often not as juicy, however.

Cash Backs

Finally, sportsbooks online compensate you for your total bets or losing bets. They return a small percentage of your stakes back at the end of a certain period. The percentages are typically small, and they might, therefore, seem insignificant at first glance. The size of the cashback from the money you lost ranges from 10 percent to 20 percent. That said, ut also depends on your VIP status at the online sportsbook. The higher your VIP standing the better the cashback.

Seasonal and Loyalty Bonuses

Finally, there are seasonal and loyalty bonuses, free bets, or matching bets. Sportsbooks usually award them to bettors at the start of the NBA or NFL season. And, if they want to celebrate a special sporting event such as March Madness.

 

What About Mobile Sports Betting Bonuses?

Sports betting bonuses and mobile betting go hand in hand at most online bookies. In layman’s terms, you can use them freely even when you place your live bets on the go. There are even sportsbooks that award you smaller bonuses when you download and use their mobile app.

 

How Can I Withdraw My Sports Betting Bonus?

These conditions typically come in the form of rollover requirements in the case of deposit and reload bonuses. As a result, you have to bet the bonus amount several times on selection with specific odds to be able to withdraw the bonus.

If you are from Australia you can use an e-wallet, Visa, MasterCard, Check, or Bank Wire. While players from the United States can use Bitcoin, MST Gift Cards, Checks, or Bank Wire. The latest fad U.S players now use cryptocurrencies such as BTC, Litecoin, XRP, or BTC Cash to withdraw bonus funds. Each banking method has its own withdrawal limit, and it differs from one sportsbook to the next. Bettors can cash out sports betting bonus wins from $2,000 to $10,000.

Visa and MasterCard payments take up 3 to 5 business days. Bank wire can take 7 days and Checks up to 15 days. If you want to receive your checks faster you can use Check by Courier. Alternatively, Neteller and Skrill payments take up to 48 hours. Bitcoin and cryptocurrency payments are the fastest. Sportsbooks settle crypto bonus winnings within 10 minutes.

 

What Are The Terms of Sports Betting Bonuses?

Before you accept any bonus an online sportsbook offers you, be sure to check its terms. First, there’s how you can qualify for the bonus? What sort of a deposit you need to make and through which banking methods. Sometimes sportsbooks require that you provide the bonus code before you can claim a bonus. Second, there are the wagering requirements that you need to fulfill before you withdraw your money. The roll-over requirement of sports betting bonuses is 10x.

 

Can There Be Issues With Sports Betting Bonuses?

It so happens that when bettors claim a bonus. Sportsbooks forget to credit the bonus to their accounts. Contact the customer support of the sportsbook you have an account with. Ask them to credit your account with the bonus. Sometimes it can take up to 24 hours before sportsbooks top up your bankroll with their bonus.

 

Should I Pick Small or Big Bonuses?

The general rule here is that you should go for the amount that you can afford to lose. The temptation to go for the bigger sports betting bonus might lead you to take more risks with your bankroll. That said, it’s not a good idea to undercut your options and go for a lower stake.

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