Online sportsbooks are a great way to make real money, but the free bonus money that most offer can come with a catch. They are known as rollover requirements, play-through requirements, or other terms that describe a set number of bets that must be made before the bonus can be withdrawn. These requirements are designed to encourage bettors to stick with a sportsbook after they have gotten the free money, and to keep betting at the site.
OLBG has reviewed sportsbooks since 2002, and we have never seen a more generous signup bonus than what many are currently offering. Known as risk-free bets, bonus money, free bets, parlay insurance, and other terms, these offers are intended to get bettors excited about a sportsbook before they make a deposit of their own money. They are often paired with large deposit bonuses if players like the sportsbook enough to continue playing with them.
Free bets are a popular form of sportsbook signup bonus, and they work in a similar manner as regular wagers. The sportsbook will credit a player’s account with a specified amount of free money upon signing up, which they can then use to place bets at the sportsbook. These are usually capped at certain maximum bet amounts, and they can only be used for specific events or types of bets. Depending on the sportsbook, these may be moneyline bets, spreads, or totals.
Most free bets are given in the form of bet credits that can’t be redeemed for cash. They are typically credited to the player’s account in small increments, such as $10 or $25. These can be redeemed for actual cash once a minimum wager requirement has been met. This is a common way to discourage players from using bonus bets to bet on a single event, and instead place multiple bets that have a lower chance of winning.
A few sportsbooks still give out free money in the form of a first deposit match bonus, but this is becoming rarer and rarer. Most first-time deposit bonuses now require a certain number of bets to be placed before the bonus can be withdrawn. This is designed to prevent bettors from simply taking the free money and running, and it also gives the sportsbook an opportunity to see how a bettor plays before deciding to offer them more free money.
Some sportsbooks will also provide a profit boost on certain events to reward loyal players, and this is usually referred to as site credit or bonus cash. FanDuel used to offer this, and Caesars did as well when it launched in 2022, but these kinds of promotions are now much less common. Those that do are typically capped at specific amount, such as $20 in profit for a Warriors +110 wager, and they can only be claimed on events that the sportsbook lists as eligible. The best place to find all of this information is in the terms and conditions of each sportsbook.