We often see bonuses tied to rollovers but many who are new to the world of online sports betting aren’t quite sure what a rollover is and who to ask to find out. Well, if that describes you then you’ve come to the right place because OddsTrader has all the information every sports bettor needs.
What’s a Rollover?
Sportsbooks offer bonuses to win your business but there is often a small catch. You see, they want to make sure that you don’t just deposit and take advantage of their bonuses without ever risking any money of your own. Many of the loyalty and reload bonuses operate this way but some of the sign-up bonuses, which we will discuss below, are a bit different.
When you do find a bonus with a rollover requirement you will often see a 5x rollover or 10x rollover requirement which means that whatever your initial deposit is you will need to wager five or ten times that amount depending on the rollover requirement.
Therefore, if you deposit $200 you will need to bet a total of $1000 if the rollover is 5x or $2000 if the rollover is 10x. But once you fulfill the rollover requirement then you will receive your bonus. Remember, it doesn’t matter whether your bets win or lose, the bonus is only predicated on the amount of the combined wagers that will ultimately trigger the bonus.
Always make sure to read the requirements as the rollovers can work differently depending on which online sportsbook you use. The U.S. licensed sportsbooks are usually very good at spelling out the bonus requirements as they don’t want to alienate customers or receive negative publicity, especially in a market that is such a hotbed of online sports and casino gambling.
Do All Bonuses Require Rollovers?
The quick answer to the above question is, no, but most do. Those that don’t require rollovers are often the exception rather than the rule but signup bonuses are those that sometimes fit the no rollover profile.
Caesars (check our Caesars Sportsbook Review) and BetMGM (check our BetMGM review) are two titans of the sports betting industry that routinely offer eye-popping bonuses that come in the form of Bonus Bets matching a new customer’s initial deposit of up to $1100 or sometimes even $1500! The online sportsbooks are fighting for market share and nothing grabs someone’s attention like the opportunity to make a big bet with house money.
The only caveat is that the bonus is only equal to the amount of the initial deposit up to the maximum matching amount so if you are only going to fund your account with $50 then you will only receive $50 in Bonus Bets.
But a bonus is a bonus and if you are in the gambling game then you know that anything for free is good for thee. The bonuses are usually bigger prior to a major sporting event like the Super Bowl or March Madness so make sure to circle back to the books that you have yet to sign up with and see what kinds of promotions they are dealing with.
Remember, if you want every edge possible then you will need to have a bare minimum of two online books so that you can compare lines and odds in order to get the best of both. If you are only using one sportsbook then you are held hostage to those lines. Why bet the Packers -7 when you might be able to get them -6 somewhere else?
Always have at least two books at your disposal because those half and full point advantages can be the difference between winning and losing. Shop around and see which the U.S. licensed sportsbooks in your area are making it worth your while to give them a try.