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Sportsbook promos are an essential part of the online sports betting experience. For many sports bettors, it’s the first impression that an offshore sportsbook makes–so it had better be a good one.
Understanding how different bonuses work is necessary knowledge if you’re considering venturing into the offshore sports betting space. Below, we’ll cover some of the basics, highlight common types of promotions, and define some key terms that you’ll come across along the way.
What are Sports Betting Bonuses?
Sports betting bonuses are incentives offered by sportsbooks to encourage new players to sign up. It’s a practice that benefits both parties. In exchange for registering for an account, the sportsbook rewards the user with some form of free credit that can be used exclusively at their site.
For example, a sportsbook might offer up to $250 in free bets when you sign up and make your first deposit. Leveraging sportsbook bonuses is a key component of building both short- and long-term success in sports betting.
It’s essential to understand the different types of sportsbook promotions you’ll come across before you sign up and start betting. Almost all of them are worth your time, but how you approach sports betting will determine which type of bonus is best for you.
Types of Sportsbook Promos
Let’s go over some of the most common sportsbook promos you’ll come across. Of course, this isn’t an exhaustive list. However, these bonuses make up the vast majority of what’s offered by offshore sportsbooks.
New User Bonuses
New user bonuses are special betting offers that are only available to claim if you don’t already have an existing account with said sportsbook. These are designed to encourage new sign-ups. And they are typically the most lucrative promotions available.
New user bonuses come in all shapes and sizes. Some sportsbooks hand out massive free bets or deposit matches, while others opt for smaller numbers with fewer strings attached. Ultimately, it all comes down to your preferences as a sports bettor and how much time and money you intend to spend at a specific sportsbook.
An example of a new user bonus could be a free bet of $150 when you make a first-time deposit of $300 or more. This is a fair incentive. The sportsbook is rewarding you for signing up by matching half of your deposit in the form of free bet credit.
As a general rule of thumb, larger bonuses tend to come with more restrictions. These might come in the form of maximum bonus payouts, limited markets, restricted odds, or rollover requirements.Â
Rollover Requirements
What’s a rollover requirement? Rollover requirements are restrictions put in place on promotional funds by the sportsbook. They require you to wager a multiple of your initial deposit before you can withdraw your winnings. This is done to ensure that the operator still gets a fair deal. Otherwise, bettors could wager their entire allotment of bonus funds on a massive favorite and cash out at once.
Let’s say you get a $100 free bet bonus with a 1x rollover requirement. In this case, you would need to wager the full $100 bonus before you’re able to withdraw any of your winnings.
Deposit Match Bonuses
Deposit match bonuses are somewhat self-explanatory. You make a first-time deposit up to a certain amount, and the sportsbook will match it at a specified rate. More often than not, you’ll find 50% and 100% deposit matches, but other rates certainly exist.
The funds that are added to your account as part of the bonus can be thought of as store credit, in a sense. You can’t take it to the bank and get money out, but it can be used as a type of currency at the sportsbook. Any winnings you receive from gambling with the bonus funds can be withdrawn, so long as you’ve cleared the rollover requirements (if applicable).
Depending on the type of currency you use to make your first deposit, you could get a larger or smaller deposit match. Bovada, for example, awards a 75% deposit match up to $750 when using cryptocurrency. However, Bovada only offers a 25% match up to $250 if you use cash funds.
Occasionally, you can find deposit match bonuses that are available for existing users. Sportsbooks may offer this type of promo during a non-busy season to encourage bettors to make a deposit and bet on less popular sports.
Deposit match bonuses for existing users aren’t typically as lucrative. For example, you might find a 50% bonus up to $50. In this case, you’d need to deposit $100 to take full advantage of the bonus funds.
Free Bet Bonuses
Free bet bonuses are some of the most common promotions offered by sportsbooks. They’re a popular choice for both new and existing users, and they cater to bettors of all backgrounds. Whether you’re a seasoned sharp or just starting out, you can always benefit from a free bet.
Free bet bonuses for existing users aren’t usually as lucrative, but that doesn’t mean they aren’t still useful. For example, a sportsbook might award you $200 in free bets just for signing up. Or you might find an offer that awards a $10 free bet when you wager $20 or more on an NFL game. There would likely be rollover requirements attached to it, but this is fairly standard. And this can be a great way to score some bonus bucks.
How to Choose the Best Sports Betting Promotions
Almost all sports betting promotions are useful, but that doesn’t mean some aren’t better than others, especially since no two sports bettors are the same. Consider these factors when weighing your options.
Consider Your Goals
What are your goals with sports betting? Do you want to have fun and place a few bets here and there? Or are you planning to put a larger chunk of money into your account and play for value?
Whichever side you align with should determine the types of sports betting promotions you seek out. For example, if you’re more of a casual bettor, you should avoid welcome bonuses that carry 10x rollover requirements, as you may not wager enough money to clear the threshold and withdraw your winnings–especially with limited-time offers.
Think About Payment Methods
Some sportsbooks may offer a larger or smaller amount of bonus funds depending on which payment method you choose. This is especially true with cryptocurrencies. It’s in the best interest of both parties to use crypto at offshore sportsbooks, and operators will often reward you for doing so.
That’s not to say you can’t use traditional payment methods at offshore sportsbooks. In fact, most casual bettors are better off this way, especially if they aren’t interested in wagering large amounts of money.
Read Sportsbook Reviews
A sports betting promotion is only as good as the sportsbook that’s offering it. You might find a bonus that seems too good to pass up. But if the sportsbook isn’t reputable, it’s best to leave it alone and move on.
Trustpilot is a great source if you’re looking to get a feel for an operator’s reputation. You can also read our sportsbook reviews if you’re interested in the bigger picture. Our reviews cover all the bases and are performed by real sports bettors who know the ins and outs of the industry.
Top Sports Betting Promos Available Now
You should now have a better understanding of different types of sports betting promotions. So let’s take a look at some of the best welcome bonuses currently offered by offshore sportsbooks.
Bovada: 75% Crypto Deposit Match up to $750
Bovada is one of the giants in the offshore market, and it showcases that status by offering one of the more lucrative options in the industry–especially for crypto bettors. Sign up and deposit up to $1,000 and Bovada will match it at a 75% rate, up to a maximum of $750.
This offer is best suited for serious sports bettors who don’t shy away from high betting limits. Alternatively, if you’re playing with cash, Bovada offers a 50% deposit match up to a maximum of $250.
Bovada is a top-rated sportsbook thanks to its especially low rollover requirements, fast crypto payouts, and 20-plus years in business. Read our full Bovada review to learn more about the platform and how to sign up.
Heritage Sports: 100% Free Play up to $500
A lesser-known offshore betting platform–but still one worth checking out–Heritage Sports offers a 100% free play bonus up to $500 when you sign up and make your first deposit. However, this bonus is more of a value play. As a result, it’s better for those who are looking to stick around and place bets over a longer period of time.
This sportsbook also offers other useful bonuses, including a $500 parlay bonus on your birthday. Learn more about this operator in our hands-on Heritage Sports review.
BetOnline: $250 Free Bet with $500 Deposit
Another offshore giant, BetOnline offers a free bet up to $250 when you make your first deposit. Technically, this is a 50% free bet match, meaning BetOnline will award a free bet worth half of your initial deposit, up to a maximum deposit of $500. You can deposit more than $500 if you please, but the free bet will not exceed $250.
This is a pretty standard offer that’s seen across a wide range of sportsbooks, including regulated options offered exclusively in the United States. It’s good for bettors of all backgrounds, and BetOnline is about as user-friendly as it comes in the offshore space.
By signing up, you’ll gain access to a wide variety of additional promos, sharp odds and early lines, and experience fast, reliable payouts. Our BetOnline review has more details about this bonus and more that are currently on rotation.
Next Steps: Getting Your Bonus and Betting
There’s not much left to do before you begin betting. Further research may be required, but by now, you should have all the information you need to get started.
First, you need to pick a sportsbook. Make your decision based on your sports betting preferences and the site’s available bonuses. The sportsbook’s reputation should also be strongly considered.
Once you’ve chosen your bonus and created your account, it’s time to start betting! Make your first deposit, confirm you received your welcome bonus, and start playing.
Frequently Asked Questions
Still have questions? No sweat. We’re here to answer some of the most common concerns.
What are the benefits of offshore sportsbooks?
More than anything, offshore sportsbooks offer access. Regulated sportsbooks like FanDuel and DraftKings are only available in select states across the U.S., leaving those in non-legal states short on options. Some offshore sportsbooks like BetOnline and BookMaker have been around longer than regulated options, and beat out their stateside competition in more ways than one.
There are certainly a few additional risks involved in playing at offshore sportsbooks, but by sticking with the most reputable options, you can enjoy a safe gaming experience and win some money in the process.
What are the best offshore sportsbooks?
Some of the best offshore sportsbooks available are Bovada, BetOnline, BetAnything, Bookmaker, and Heritage Sports. These books have all been around for decades and have a long history of serving customers with fairness.
Are sportsbook bonuses worth it?
Sportsbook bonuses are almost always worth it. There are some that may not be worth your time, but they’re few and far between, and it usually comes down to how much you’re willing to spend.
For example, if you only want to spend $100 at an offshore sportsbook, then a bonus with larger rewards for larger deposits may not be best for you. It all depends on whether you’re playing to make a quick buck or if you want long-term value. Utilize the information from this page to determine whether a bonus is best for you.
