When you sign up to make a bet at a sportsbook, you’ll often see that the site offers new customers a free bonus. This can come in the form of money that you can use to make a bet, or it might be credit that you can use on futures bets. The goal of these free bonuses is to attract new customers and keep them betting with the site. While these promotions look fun and attractive, they’re not always worth the hassle. They can lead to bad habits and even account closures, so be careful when you’re using them.
One common type of online sportsbook real money free bonus is a risk-free bet. This offer is similar to a moneyline bet, except that the sportsbook will return your stake in credit instead of cash if you lose. This kind of bonus is a great way to test out a sportsbook before committing any of your own money. It can also help you get familiar with the terms and conditions of the site before making your first bet.
The most common bonus offers at sportsbooks are free bets, which are usually small amounts of site credit that you can use to place bets for real money. These are usually offered to new players as an incentive to try out the sportsbook, and they can be used to place bets on all sorts of events. You can even use them to bet on futures markets, such as the Stanley Cup winner, or to try out a different betting strategy.
However, most of these offers have stipulations that prevent you from claiming them unless you meet certain requirements. For example, many of these promotions have rollover requirements, which are the amount of bets you must place before you can redeem your bonus funds. These are designed to prevent bettors from making a single bet and running away with their free money, but some offshore sportsbooks have predatory rollovers that can make you spend all of your initial deposit just trying to get the bonus funds back.
Sportsbooks also often offer a bonus that can be used to place parlay insurance, which is an insurance bet on losing sides of a parlay that pays out only the total profits of the bet. This is a great way to minimize your losses when you’re making a large parlay, and it’s especially helpful for those who are looking to win big on a marquee event like the Super Bowl.
While free bets are an excellent way to try out a sportsbook, they’re not always the best option for long-term betting. You may find that the sportsbook you’re betting with has a high house edge, so it’s important to find a sportsbook that offers low odds and good customer service. In addition, most of these bonuses are only valid for a limited time, so it’s important to make the most out of them while they last.
Another type of sportsbook real money free bonus is a deposit match bonus, which is a percentage of the amount you deposit into your account. This is a great way to increase your value as a new player, but it’s important to understand the terms and conditions of these promotions before you start betting with them.