How to Make Money from Online Sports Betting Bonuses

Many people look at sports betting as pure gambling and a certain way to lose money. While this is true for most users, there is a certain minority that actually is profitable in the long run.

Several factors that can help you achieve that goal. One of the most important among them is to take advantage of sports betting site bonuses and promotions. This post will focus on some of the details that can help you make the best of them, depending on the type of offer that’s available.

First Deposit Bonuses for New Customers

The most lucrative deals usually are for new customers. Since the competition between sports betting sites is insane, each bookmaker on the web invests heavily in attracting fresh users through bonuses.

The welcome offers usually provide the best value and the highest amount of cash in comparison to all other promotions. They come in different shapes and forms but the most popular option are first deposit bonuses.

If you join a bookmaker that offers such a deal, it usually means that the site will match your first deposit with a bonus. There are several key factors here.

The first one is the percentage of the bonus. 100% first deposit bonus means that the extra money you get would equal the amount of cash you added to your account.

The second one is the maximum bonus you could get. For example, 100% up to $100 means that the bookmaker will match your first deposit up to $100. Even if you deposit more than that, you still only receive $100.

Since the welcome bonuses provide great value, you should always try to get the maximum amount available. However, you should always be careful with the terms and conditions of the bonus.

The first deposit bonuses always come with rollover requirements. You need to place a certain amount of bets, before you can withdraw the extra cash.

Other factors like the minimum odds required and the time you have to clear the terms and conditions are important too.

Simply put, make sure you check all details and have a plan in place before you actually make a deposit and claim your bonus.

Once you get the hang of the whole process, you can engage in the so-called “bonus hunting”. You can join multiple betting sites and take advantage of their offer for new players. That’s how many people build their initial sports betting bankroll.

Other Sports Betting Promotions

While the first deposit bonuses are crucial, sports betting sites have other promotions that can help you make money. These are the most popular ones.

  • Loyalty programs: the bookmakers offer incentives to their loyal customers through VIP or loyalty programs. They work in a simple fashion: if you reach a certain threshold of bets in a week/month, you get extra cash.
  • Reload bonuses: the reload bonuses of most sportsbooks on the internet are similar to the first deposit bonuses, only the conditions are worse. You can still extract some value but make sure to check the full terms and conditions first.
  • Enhanced odds: you will often see enhanced odds for the most popular leagues such as the NFL, the NBA, the English Premier League, and more. Follow the latest options and you will be able to place a lot of wagers on great prices.
  • One-off deals for big events: big sporting events like the Super Bowl, the NBA Finals, the UEFA Champions League Final, and similar represent an excellent opportunity to make some money. Most betting sites are eager to ride the wave and offer all kinds of promotions to their customers.

Conclusion

As you can see, there are plenty of ways to make extra money through promotions. Every sports betting site offers them and you should always explore your opportunities. The key is to read the small print and decide if there’s value up for grabs based on all the details.

If that’s the case, create a strict plan and follow it to maximize your profits.