Almost every online sportsbook offers a bonus for the first deposit. Most betting sites also feature bonuses that allow you to earn extra money on the side. However the Value of a Betting Bonus differes based on several factors which we will cover.
You might be happy to receive any type of bonus. After all, you’re earning “free” money in addition to whatever you might win. However, not all sports betting bonuses are the same.
Some deals provide more value depending on the offer (also known as the rollover) behind them. This page covers the general aspects of online sports betting bonuses along with how to calculate deals that provide the greatest value. After all, you can earn more profits from betting offers by assessing their value early on.
What Determines the Value of a Betting Bonus?
There are several factors to consider when trying to determine the Value of a Betting Bonus. However, here are the key attributes you should check.
Match Percentage
With a match bonus, bettors match your deposit by a certain percentage. Typically, they offer a 100% match on the deposit amount. However, you can do better or worse in some cases. For example, a 150% match is definitely better than 50%.
Here are a few examples to illustrate how you would benefit from higher match percentages:
- You plan to deposit $300 into an online sportsbook.
- The first betting site offers a 100% match; you’ll receive a $300 bonus.
- The second betting site offers a 50% match; you’ll receive a $150 bonus.
- The third betting site offers a 150% match; you’ll receive a $450 bonus.
Maximum Amount
Online sportsbooks set limits on their bonus offers. If you’re a professional bettor, you’ll want to pay special attention to the bonus size. Anything worth $500 or more should satisfy you. Some betting sites offer bonuses up to $1,000 or more.
Minimum Deposit
Each sportsbook requires you to meet the minimum deposit. After all, they don’t want to deal with amounts like $1.50, $3.25, $4.50, etc. The average betting site asks for a deposit between $10 and $20 as the minimum. Even if you’re aiming for a small bonus, you’ll need to deposit the minimum for online sports betting.
Deposit or No Deposit
Sports gambling bonuses generally fall into two categories:
- No Deposit – You receive a bonus just for signing up.
- Deposit – You must make a deposit to qualify.
No deposit bonuses usually involve a small free bet (e.g., $10) or cash (e.g., $20). They’re not worth much, but they don’t require any financial risk either. Instead, you can complete the registration and get a chance to earn free money.
The risk-free aspect makes these the Value of a Betting Bonus higher for low-rollers. Deposit bonuses, however, can be worth up to $1,000. The key is that you must deposit an equivalent amount and earn money by betting a lot of cash.
Time Invested
Many bettors are happy to qualify for a no deposit bonus. After all, no deposit bonuses provide a chance to earn money without investing anything…
Except for your time. Of course, deposit bonuses aren’t free from time either. They ask you to bet more money to benefit, but the difference is that your hard work is guaranteed to pay off once you meet the terms and conditions. No deposit bonuses often expire before you can fulfill the terms and conditions.
Terms and Conditions Friendliness
Online sportsbooks don’t let you withdraw bonus funds immediately. Otherwise, some bettors would sign up for sites just to get free money and disappear. Therefore, betting sites make you earn bonuses by meeting the terms and conditions.
Common terms found across the industry include:
- Minimum Odds – Every bet must be above a certain odds value (e.g., -160) while earning the bonus.
- Maximum Bet – You can’t exceed a certain betting amount (e.g., $100) when winning the offer.
- Playthrough – Betting agents require you to bet multiples of the bonus (e.g., 10x) before you can withdraw the bonus.
- Time Limit – Betting sites set the period in which you must meet the extension. Claim – You must visit your account and claim the bonus before starting to play.
- Restricted Deposit Methods – Neteller and Skrill deposits are typically ineligible for bonuses.
Every term behind the bonus is important. You don’t want to violate any terms and risk losing your deal. However, the extension, in particular, is crucial. As mentioned in the next section, it plays a significant role in determining the hidden Value of a Betting Bonus.
Value of a Betting Bonus: A Conclusion
It’s not always easy to identify the Value of a Betting Bonus. They come with different sizes and rollovers, making the process even more confusing. However, you can reduce the confusion by focusing on the playthrough stage and bonus size. You can also use the math from the examples provided to determine the Value of a Betting Bonus.
Of course, you should also consider other important factors. Your bet size, the reputation of the sportsbook, and whether you need to sacrifice one bonus for another are all critical aspects.