There is a common misnomer in the world of online sports gambling and it goes like this; bonuses are for squares, bonuses will leave you chasing bad bets and constantly trying to recoup your losses and never getting paid. Then, there is another common misconception, and it is similar but slightly different. The major misconception about sportsbook bonuses is the idea that you can never get out from under the rollover. This is a giant lie. Let’s be honest; bookies don’t necessarily like giving away free stuff but they do it anyways! Bookies must do this in order to keep you faithful. There is a mountain of competition on the internet when it comes to online sportsbooks. They all say they are the best and they all claim to be honest, transparent and to pay you when they owe you. Now, if you have been around the block a time or two, then you know for a fact that this is not true.
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Don’t misunderstand the message here, there are a great many online bookmakers that are absolutely 100% honest and they have your best interest at heart. It’s your duty to find them. Do your research, read the best sports forums online and get opinions from fellow players. They know the drill and they can help you find the best online bookies available. They can also steer you in the right direction when it comes to finding the best bonus with a fair rollover.
How do rollovers work?
The number one mistake that online gamblers make is simply not reading. You should absolutely have several sportsbooks in your hip pocket. You should have at least three and even more. If you are looking for a great sportsbook with a great bonus then you must read the website. Read the terms and conditions and more specifically, read the terms and conditions of the bonus in which they are offering. If there is anything that you do not understand, call them before making the deposit. If they do not have a toll free number that you can call from the United States, that means they don’t really cater to American players, look elsewhere.
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Most of the online sportsbooks are fairly universal with their rollover approach. They way it works is like this– your deposit– plus bonus– x rollover amount. The most popular bonus that most players take is the 100%. This means the bookie is willing to match your cash deposit up to 100% in bonus money. Example: Deposit = $100 + $100 bonus money X 10. (most bookies charge a 10 time rollover on 100%). $100 + $100 = $200 X 10 = $2,000. This is the amount that you must wager in cash action on qualifying bets, before you are eligible to take a payout.
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What are qualifying bets?
Qualifying bets are the bets that the bookmaker allows you to make that go directly against paying off your rollover. This can differ from bookie to bookie but most of the sportsbooks limit this to straight bets, teasers, and specials teasers. These bets must be made using the money in your cash account. If you win the bet, then your cash wager is returned to cash + your winnings and you have now knocked out part of the rollover. Example: if you bet $110 on the Dodgers run line at -110, and you win, this means that you have won $100 plus your $110 wager back to you for a total of $210– that is immediately credited to your cash account. The $110 that you wagered will go directly against the rollover. Using the deposit example above– you took the 100% bonus and the 100% match X 10, which is $2,000. With the $110 bet that you placed on the Dodgers, that $110 goes directly against the rollover of $2,000, leaving you with a remaining rollover of $1890.
You must be prepared to use a bonus correctly and that means getting out of the gate with a win or two. You should spend your bonus money first, then you know where you stand. If you win money off the bonus money then you have the extra cash in your cash account to knock out the rollover. Do yourself a favor and handicap the games. Never go in blind and always have a great idea as to why you are betting one way or another.
Find a great online handicapper that can help you make the right decisions. They are well worth their time and any nominal fee that you might pay. Look for one that gives a free trial and test them out. By all means, if you want to win money with someone else’s money; take a bonus.