In today’s edition of betting for fun and profit, we at MyTopSportsbooks would like to further your gambling education with the next installment in our betting series, rollover betting. But we must touch on one thing first, competition. We understand that competition in sports is represented by two teams or two combatants meeting in a contest of skill that will declare a winner and loser. Back the right team or competitor, win your bet and receive a payout.
But competition means something else in the world of online sports betting.
Why Competition Matters
According to our friends at the Canadian government: ‘Competition pushes individuals, firms and markets to make the best use of their resources, and to think outside the box to develop new ways of doing business and winning customers. This not only drives productivity up, but it also improves our standard of living. Let’s look at how this affects the online sports betting industry and bookmakers.
What is Rollover Betting?
Online sportsbooks and bookmakers compete with each other, and they go to great lengths to attract bettors and keep them once they have them. One way to appeal to online bettors is by using welcome gifts (bonus offer) and free money or bonus money. And it is an effective strategy to attract customers/bettors. Certainly, online betting apps offer bonuses freely; there is always a catch. To understand rollover betting, you must understand the conditions that affect rollover betting. It is a standard business tactic used in online betting and used by new entrants to the marketplace and the top 100 oddsmakers in the industry.
What is Rollover Betting in Sports Betting?
Bookmakers or online sports betting apps will provide sports betting enticements for new and existing sports bettors. Sportsbooks created rollover betting to protect against people taking advantage of the free gifts offered by oddsmakers or online sportsbooks. All bonuses provided by online sports apps and sportsbooks come with conditions. One such condition – is the deposit amount or initial deposit and bonus – and how many times it must be bet. There are two concepts at play here, rollover betting and play-through betting. When you understand one concept, instinctually, you will understand the other. When betting with a sportsbook, the rollover bet’s – sports betting bonus – requirements can differ depending on the bonus rollover and where you place your bet. Wagering requirements come down to the type of sportsbook bonus that is awarded, the bonus amount, and when the bonus is granted. Win you pick a winner on a free bet, the rollover demands a higher rollover bet than the initial bonus offer. If you look at the no-deposit offers, you need a higher rollover bet than a money-back bet offering. There are only two circumstances that arise without rollover bets, and they are loyalty bonuses and VIP offers.
How Does it Work, Rollover Betting in Sports?
Let’s take you through a real-time example to help you understand how rollover betting works in sports. All your rollover bets must win, and losing bets will put you right back to square one. You may receive a promo code to obtain a welcome bonus. When the welcome bonus has been used up, you can engage in a reload bonus to top up your account. Rollover bets and casino bonuses can be used to bet on the NFL, MLB, or NHL using a sign-up bonus.
- When you make a deposit, your bankroll at an online sportsbook or online sports betting sites, is matched by the sportsbook up to 100 percent for every dollar up to $100.
- Before you can withdraw your payouts – winning bets – you will be expected to bet the bonus plus five times the amount of the bonus offer received.
- Say you start with $200 – $100 deposit plus the maximum bonus offered of $100 – $100+$100.
- To cash out winnings, you must clear the bonus and deposit. To calculate when you will receive a payout – 5x$200 – meaning you bet $1000 to be able to cash any winning bets.
- Some online betting apps or casinos/bookmakers will need you to meet a qualifier on odds betting, something like a 1.50 or higher.
- Depending on the sportsbook or oddsmaker, you might be allowed to clear the bonus offer on single bets. Other sportsbooks or bookies may require you to bet on what is called an accumulator when it comes to risk-free bet offers.
What are the Bonus Types that Come with Rollover Demands?
To understand rollover bet requirements, you need to know what different bonuses are. There are three specifically, and they are different depending on the online sportsbook app or bookie you lay a bet with.
The free bet is usually offered at sportsbooks with low deposit betting. This type of betting is on offer to the casual, low-risk bettor. You get a free bet for sports betting, and you get to keep the winnings while the stakes are subtracted from your account. These bets are quickly reimbursed to the bettor, but they come with the smallest payout.
Deposit bonuses require a financial commitment from the player; they are the commonest offer and best paying. To get a handle on rollover bets and deposits, you must read the sportsbook rules carefully to understand the details. Some online sportsbooks and bookies require a multiplier bet of 5x’s plus a cash deposit to be bet also.
No deposit bonuses – are the most tempting of come-ons for online and casino sportsbooks. You don’t make a deposit, but the betting is the steepest of all bonuses available. Bookmakers have stringent requirements to prevent scamming and money laundering through their facilities. The no deposit bonus can be different from sportsbook to sportsbook on rollover requirements.
What are the Special Rules Governing Rollover Betting?
Restrictions on Bets
- For instance, if you claim a Bitcoin bonus offer – a welcome bonus – you could be limited to events you can bet on. Bookmakers are careful; they won’t allow Asian handicaps or money-back bets.
Restrictions on Odds
- When looking at odds restrictions, some bookies or sportsbooks will require a bettor to place bets on odds in the 1.50 range. Other oddsmakers may demand bets on games or events with 1.80 or 2.0 odds.
Restrictions on Time
- Once you have deduced the rollover requirement, the next step is understanding what a time-limited the offer is and what deadline is set. You can have a time limit of as little as three or 30 days to clear the bonus you receive. Check the sportsbook offers before you accept the bonus funds.
Restrictions on Winnings
- Cashing out winnings from bonus bets differs significantly from sportsbook to sportsbook. No matter how lucky you are with the betting odds, you may be unable to cash out all your winnings bets. Some winnings will be subtracted from your account if you exceed the threshold of winning bets. You must review the withdrawal limits at the sportsbook you are betting with regarding bonus play.
What are Some Tricks and Tips to Look for in Rollover Bets
- Look for a 5x’s rollover; it is easier to clear.
- Review the terms of the sportsbook to have a clear understanding of the fine. If it is too good to be true, it is.
- Track your betting progress, so you can check the status of your rollover bets.
- Try to find bonuses with no rollover requirements.
MTS has all Your Bases Covered
When you enter the gaming world, expect to be welcomed with a free gift from the online sportsbook or casino you choose to bet with. Betting at Fanduel, Draftkings or Caesers can come with restrictions on free play. Our partner bookmakers offer welcome bonuses to new bettors. Existing players can get online casino bonuses or bonus funds for their online sports betting recreation. It is essential to shop for the best welcome bonus based on your style of play, and our recommended betting promotions have you covered with all the promotions that are simply the best.