Legal sports betting is becoming more and more popular as markets keep expanding. However, popularity brings with it choices, and choices may be exhausting.
It might be intimidating for novice bettors to enter the market because every sportsbook worth its salt offers a variety of sign-up bonuses to entice clients to utilize their platform.
However, it turns out that there are a few typical welcome offer types that potential bettors are most likely to encounter. A excellent method to get over any jitters and choose where to start is to become familiar with each of these bets.
“Free play”
Free bets may be the most straightforward kind of welcome bonus. Once bettors make a deposit, sportsbooks will provide them a certain amount of free money that they can use to wager on whatever they like. But you can’t just take that money out as cash.
For instance, if a gambler stakes $10 of free money and wins $10, they will have made $10 that they can cash out at a later time. Since they are utilizing free money, some gamblers could choose to wager heavily, like with a parlay, although sportsbooks occasionally have policies limiting payouts.
The exclusive to bet365 sign-up bonus known as “bet credits” functions similarly to free bets. Bet credits, despite having a distinct name, function similarly to actual money but cannot be independently withdrawn.
Here are our top two sportsbooks that are currently giving new customers free bets:
“No-deposit bonus”
The closest a bettor may come to putting a free wager is with a no deposit bonus. In this scenario, a sportsbook will automatically deposit a certain amount of free money into a new customer’s account when they join up. Naturally, these sums are typically lower than other bonuses; they typically range between $5 and $25.
A bettor will receive the winnings from their wager but not the free money they bet with. The main difference between no deposit bonuses and free bets is that no deposit is necessary for them to be activated.
Because they entirely favor the client, sportsbooks don’t typically provide no deposit bonuses as frequently as other promotions. As a result, it is hoped that new bettors will decide they love the sportsbook’s atmosphere enough to make a long-term commitment.
The majority of no deposit incentives offered today are pre-launch promotions where bettors receive things like site credit or free bets. For instance, DraftKings recently provided $100 in free bets as a pre-registration bonus to new clients in Louisiana. You can find sportsbook promo codes with a simple Google search.
The main distinction between a site credit and a free bet is that the former is flexible. While a free bet must typically be utilized completely at once, site credit can be divided and applied to several bets.
This means that a bettor may spend $30 in site credit to make two $15 bets or three $10 bets.
There are no sportsbooks available right now that provide a no deposit welcome bonus. But keep an eye out – they might make a comeback shortly at forthcoming major events like the Super Bowl.
“Risk Free” wager
A risk-free bet, often known as a second-chance bet or first bet insurance, comprises a gambler receiving something in exchange for losing their initial bet. Normally, that item is a full return up to the stake.
For instance, BetMGM currently offers up to $1,000 back in free bets to new customers in the majority of U.S. states. If the bettor’s first wager loses, the operator will credit their account with their wager amount (up to $1,000) as free bets.
However, it’s crucial to be aware that various sportsbooks use various systems to repay a wager’s amount. Others might utilize a free bet or bonus cash, while some, like FanDuel, would use site credit.
Deposit and Withdrawal Methods
A person can use traditional methods like credit card or money transfer services to deposit, or they can use various cryptocurrencies to do so. These actually end up saving the player money and special bonuses can even be found for people who use these methods.