Online sportsbooks are competing fiercely to lure new customers in with their unique promotions. Often the biggest incentive to sign up is an offer of a real money bonus. These bonuses can be in the form of free money or free bets. They also come with varying terms and conditions. Some are easy to meet, while others can be difficult, requiring huge wagering volumes before they are cashable.
In addition to these bonuses, sportsbooks will reward existing users who can bring in new players with referral offers. These are essentially loyalty rewards that let you earn betting credits and sometimes even real cash for bringing in friends to the site. These can range from a simple $5 credit to up to $500 in bonus bets, depending on the sportsbook and the promotion.
One of the most common types of bonus offered by online sportsbooks is the deposit match bonus. These are typically dollar amounts that will be matched by the sportsbook once you make your initial deposit. This is an excellent way to add funds to your account, but there are some important terms and conditions to be aware of before taking advantage of these offers. Most of the time these bonuses have a rollover requirement before you can withdraw any winnings from them, although this varies between sportsbooks.
Another type of sportsbook real money bonus is the free bet credit. These are bet credits that can be used to place wagers on any game or event, but they do have a few restrictions. You will typically have to use these bonus bets on certain types of bets, such as underdogs or anything that is plus-money.
Some sites will also offer special bonus bets on high-profile events, such as March Madness or the Super Bowl. This is an excellent way to get a feel for the site and what kind of odds they are offering. These bets can be quite lucrative, but they can also be extremely risky, so you should never take more than you can afford to lose on them.
Lastly, some sportsbooks offer higher bonuses to players who will deposit using specific methods of payment. For example, if a player will use bitcoin instead of regular credit cards the sportsbook may give them a bonus of up to $1,000 in extra bets. This is a good way for the sportsbook to attract players who are willing to deposit with them and it gives them an edge over competitors who do not offer such incentives. It is worth keeping an eye out for these types of bonuses as they can be very lucrative and make a big difference in your bankroll.