Sports betting involves betting on the outcome of a game in a sports league, such as the NBA, NHL, or MLB. Interest in betting on sports has increased significantly in recent years, mainly as a result of access to the internet and smartphones, but also due to the simple fact that all states are legalizing gambling. Nowadays, Americans can expect to be able to choose from a wide array of sportsbooks, which can feel a bit overwhelming. You can, however, narrow down your options by looking for the ones that offer the best bonuses and promotions.
Bonuses are offered by virtually all gambling companies today, partly as a marketing strategy to attract new customers and partly as a thank-you to existing customers for their loyalty. As such, you as a player also benefit from these promotions. But how do betting bonuses and promotions in the US work, and what are the characteristics of a really good offer?
Marketing tools to encourage new and existing players to place bets
The easiest way to explain bonuses and promotions for sports betting is as a marketing tool. By promoting themselves with attractive offers, sportsbooks can attract new players to their platform. After all, the competition is quite fierce these days, which means that sportsbooks have to offer something unique, or at least something really generous. A great bonus offer is an answer to this. It simply encourages players to place a bet with the sportsbook in question rather than choosing another.
Types of promotions available at sportsbooks
Odds, bonuses and promotions vary depending on the sportsbook and the conditions. It is important to know what the different offers entail in order to take advantage of the best. After all, some bonuses are more valuable than others.
The most common bonus is definitely the Free Bet Bonus, which gives you a free first bet from the sportsbook. This offer always amounts to a specific sum, such as $15. Free Bets are almost always subject to terms and conditions, such as minimum odds and wagering requirements.
Cashback bonuses are another common type of offers available on many sportsbooks. Cashback bonuses give you back a percentage of the money you have wagered over a certain period of time. It is a generous offer that you should definitely keep an eye out for.
Other promotions that are often offered are sign-up bonuses. With this bonus, the sportsbook matches a certain percentage of the deposit you make when signing up with them. These bonuses are also often subject to wagering requirements and other terms, so read the terms carefully.