Sports Betting Bonus Guide
This is an introduction to sportsbook bonuses. Many sportsbooks offer welcome bonuses and reloads just like online casinos do. Like casino bonuses, these sportsbook bonuses can be used as ”a tool” of advantage gambling. If you are not yet familiar with sports betting, it is a good idea to read the sports betting guide first to get used to terminology and basics of betting and then return to this guide.
Sports betting bonuses actually offer a way to make money with less risk than casino bonuses, where variance can be quite a big factor. And the best part is that you don’t have to know anything about sports to be able to bag sportsbook bonuses. This guide includes all the basic information you need to start winning money with these bonuses. On this website you can also find matched betting guide, list of best sports betting bonuses and a beginner’s guide to first sports betting bonuses to start with.
Advantages of Sports Betting Bonuses
- Very low risk when using matched betting
- Don’t have to know anything about sports
- Good reloads
- Many sportsbook bonuses can be played with the same deposit as casino bonuses, since many casinos also have sportbook side.
Bonus Types
Just like at online casinos, sportsbooks offer different types of bonuses. The most common types are cashable, cashable-AW and free bets. Sticky bonuses are quite rare. Bonuses can have different terms. Some sports may be restricted. The most common restriction concerns the odds (for example: terms might say that you have to bet with odds higher than 2.0 in order to get the bonus) - always check terms of the bonus before depositing (just like you would do when playing a casino bonus)
Cashable Bonuses
Cashable bonus works the same way as the same type of a casino bonus. You get the bonus amount added to your balance when you make a deposit. Bonuses usually have a wagering requirement that has to be met before you are able to withdraw.
Free Bets
There are two types of free bets. Bets that return the original stake and bets that don’t . Free bets that return your original stake are often even better than cashable bonuses. If the stake is not returned, EV is about half of a similar free bet that returns the original stake.
Example (stake returned): You bet 50£ free bet to Liverpool to win with odds 2.0. If Liverpool wins, you get 100£.
Example (stake not returned): You make the same bet. If Liverpool wins you only get 50£, because your original stake is not returned.
In order to get a free bet you usually have to make a qualifying bet. That means in order to get the free bet you have to sign up, deposit and make a bet. Be sure to read the full T&C before claiming a bonus.
Risk Free Bets
Risk free bet is awarded only when your qualifying bet loses. So in order to get a good +EV this bet type should be played aggressively with high odds (especially if played with match betting).
Cashable-AW Bonuses
Cashable-AW bonuses work the same way as similar casino bonuses. These bonuses are not as good as people with casino experience might think. The reason is that with matched betting you can get benefit from a cashable bonus or a free bet even if you bust (because you win your money back in another account where you have done the matching counterbet).
Sticky Bonuses
Sticky bonuses are similar to casino sticky bonuses. You get the bonus added to your balance, but it is deducted when you cash out. These bonuses can be used as leverage when making big bets. Usually you should bet the whole deposited amount + bonus on a single bet (if allowed in terms). Sticky bonuses are very rare in sportbooks.
Special Bonuses
Some sportbooks may offer special bonuses. Those can be “refer-a-friend” bonuses, cashback bonuses (like risk free bets) or special outcome bonuses, like for example “all the losing bets get refunded if certain player scores a goal in the match” type of bonus.
How to Benefit From Sportsbook Bonuses
The least risky and most common way to make a profit with sportsbook bonuses is to use matched betting. The basic idea of it is to bet all possible outcomes of an event. You can learn more about matched betting at our matched betting page.
Other way to benefit from sportsbook bonuses is to bet wisely. If you know enough about sports this is also a good way to benefit from bonuses. Using knowledge and tips and combining bonuses into your betting you can increase your winnings. But without using matched betting it’s more or less gambling, depending on how well you bet. Good example is for example to combine welcome bonuses to our sports betting tipping service. This way you can clear a few bonuses while making (likely) profit from betting itself too at the same time!