What is a bonus, what do they offer, what function do they perform, what’s the best way to use a bonus and at the end of the day, is a bonus worth taking? These are all questions that you should have an answer to when thinking of taking or passing on a bonus.
The one thing that you should most definitely not do, is listen to people that say “I never take a bonus” a bonus has too many restrictions and you can never get your money” “bonuses are a scam” “bonuses are for squares” “sharps never take a bonus”. These statements are simply not true. There are a many honest and trustworthy, online bookmakers that offer a fair bonus, they also clearly state the rules for their bonuses, right on their website in “terms and conditions” or in the rules section, or even in a “bonus section”.
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The misnomer here is that sportsbooks are trying to get a leg up and offer a bonus in which the player cannot win. This is simply not true in most cases. If you can win without a bonus, you can win with a bonus. If you can lose without a bonus, you can lose with a bonus. This is sports gambling, there is a loss factor, just as in any other type of gambling; it’s a gamble.
What is a bonus? In most cases, a bonus is a match on your deposit, and in most cases, the sportsbook will offer a match on the deposit up to $1,000. In some cases, it can be higher or less depending on your history with that particular book. The match can be 100% or it can be less. Most of the online bookmakers offer options as to how much of a bonus you can take but the bonus amount is typically a percentage. If you deposit $100 and take the 100% matching bonus, then you will receive $100 in match play and that money goes into a separate account.
The bookies have rules as to how the bonus money is spent. This is where reading the “terms and conditions” of the bonus, is vital. Usually, the way bonus money is allowed to be spent, is on straight bets, teasers and special teasers. (This is not written in stone, rules differ from book to book, so check with yours). When you do spend the bonus money by placing bets– and win the bet, the winnings are transferred to your cash account.
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What’s the catch? Nothing is for free in life! Look, a bonus is a great way to win a lot of money and do it on the bookmarkers dime. There is absolutely nothing wrong with taking a bonus and in fact, it’s a smart move. Why not win money with free money? It’s a short term loan. Sharp players love a great bonus, they thrive on bonus money. The short term loan must be paid back. The bookie has given you a matching deposit and given it to you upfront. They ask that you complete a rollover or as some may know it; a “playthrough” however, the word “playthrough” more often than not refers to a casino bonus, not to be confused with a sportsbook bonus. Rollovers go quick and they are easy to complete. The money you spend from you cash account goes against the rollover, there are restrictions as to what types of bets go against the rollover, so be sure to ask your sportsbook exactly what the rules are.
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The rule of thumb with a bonus, is top play the bonus money first. When you win, that money goes to cash and the bonus no longer exists’. This is the quickest way to start knocking down the rollover. Bonuses are great for one simple reason. It’s as if you live in Las Vegas and you frequent a strip sportsbook, right across the street from that sportsbook is a bank and you know the banker—you can walk into that bank at anytime and ask your friend the banker for $1,000 and he knows full well why you want the money. You must repay the banker plus interest before taking another loan, or better yet, if you go broke, the banker will lend you another $1,000! What banker does this? Online betting sites do! This makes taking a bonus a brilliant and winning move.