If you've seen an online sportsbook advertisement you've likely seen a bonus offer. Sportsbook offer various types of bonuses to new bettors, but there are some terms and conditions you need to understand.

Type of Sports Betting Bonuses

There are a few common types of sports bonuses available to online bettors.

The most common is a sign-up or welcome bonus. Typically sportsbooks will give you a 50%-100% bonus on your first deposit for up to $XXX. The size of the bonus varies, but is generally around $250-$500.

To those new to online sports betting it may seem like you're getting free money, but that's not the case. The bonus will be available in your account immediately typically, but you can't withdraw the money right away.

You need to meet a rollover or wagering requirement to clear the bonus. A bonus may have a 5x rollover, which means you'll have to wager your deposit and bonus amount five times in the sportsbook before you can withdraw.

Let's look at an example. If you're getting a 100% bonus for up to $200, you'll need to deposit $200 to get the full bonus amount. If the rollover is 5x (deposit + bonus) you'll need to wager $200 + $200 * 5 = $2000 to clear the bonus.

After you wager $2000 all of the money in your balance is yours and can be withdrawn.

UK bookies don't offer percentage bonuses typically – they offer free bets. When you make your first deposit you'll be entitled to a free bet that's typically worth $50. You can use the free bet to bet on almost anything.

Read the terms and conditions to learn what you can and can't bet on with your free bet. Typically with a free bet only the profit is paid into your account and the staked amount isn't, so keep this in mind when using the free bet.

If you 365bet then you'll be entitled to lots of reload bonuses. A reload bonus can be offered on any deposit and is the same as a welcome bonus except it's not offered on first deposits.

Some sportsbooks are so interested in gaining customers that they even no deposit bonuses (NDB). A NDB will give you a small amount of money that you can use to bet with and you don't need to deposit any of your own money.

Typically no deposit bonuses are $5-$10 and have high rollovers, so they're hardly worth it to most bettors. However, if you're just starting out and learning the ropes, no deposit bonuses offer a no-risk learning experience.

Why Do Sportsbooks Offer Bonuses

Online sports betting is a competitive billion dollar industry. The major bookies have deep pockets and they love nothing more than gaining new clients, so they do everything they can to entice bettors to join.

That's great news for us because we're able to build our bankroll with bonus offers. It's not uncommon for a new bettor to make a few thousand dollars within their first month of betting just from accepting the big welcome bonus offers.

My last piece of advice is to always read the terms carefully. If anything seems to good to be true it likely is. Make sure you only join reputable bookies when bonus hunting, as there are still many rogue bookies out there.