Online sportsbooks are popping up like crazy, and the competition for new players is fierce. These betting sites need to stand out in the marketplace, and one way to do so is by offering unique bonuses that will entice new customers to deposit and start wagering. Bonuses can come in a variety of forms, from free money and cash-back offers to reward bets, free sweepstakes coins, and even special betting deals for marquee sporting events.
Bonuses are a great way to get started with a new sportsbook, but the way they’re offered varies greatly between operators. For example, some will offer a deposit match bonus, in which your first real money wager is refunded in the form of bonus bet tokens (typically with a cap that ranges from $200 to $1,000). This type of bonus can help you win big and build your bankroll before you decide to make a bigger deposit.
Ongoing promotions, such as Parlay Insurance and Odds Boosts, are also great ways to boost your betting account. These types of promotions are available for existing players, and they can be found in the Promotions section of the betting site’s website. In some cases, these promotions may be subject to rollover requirements, and it’s important to read the fine print to determine how much you can win before you have to meet any minimums.
Refer-A-Friend bonuses are another popular option, in which current members of a sportsbook can earn rewards for their recruitment efforts. Most sportsbooks will provide each registered user with a referral code that can be used by friends and family to sign up for an account with the site. If someone uses the code to register and then deposits a minimum amount of money, both parties will receive a bonus.
Lastly, there are bet and get offers, which compensate you for placing a certain amount of action on the sportsbook. These are usually very low risk, and they’re a great way to try out a new betting strategy without having to risk your own money. The amount you bet will often be capped at a specified maximum, and winning wagers will pay out both the stake and profits on any winning wagers.
In the past, a high number of sportsbooks offered high-roller bonuses. However, with the proliferation of new betting sites and more restrictive regulatory changes, many operators now have more modest welcome bonuses. These are still generous, but they’re not as lucrative as they once were. Still, these promotions are a great way to get started with an online sportsbook and can be well worth taking advantage of.