Many sportsbooks have lately modified their Terms and Conditions. They’ve done so because it was pretty easy to pocket their bonuses. Some time ago, most of them were only asking you for some roll over multiples. For instance, you could get a 100% bonus on a $300 deposit. You were then required to turn that amount over 5 to 10 times before being allowed to pocket that bonus.
Even then, most people were randomly gambling that money with no plan and losing it all well before the required roll over multiple was achieved.
Some wiser individuals were using clever techniques like Sports Arbitrage and were able to pocket bonuses from tens if not, hundreds of sportsbooks. These times are long gone and bookmakers have made adjustments to their bonuses policies and made it a lot tougher pocketing those free bonuses. They’re even sharing names of individuals trying to cash in those bonuses. (By the way, they call those individuals Bonus Scrapers!!)
At the time, you would place wagers using those bonuses and when you won, you would get back the amount of the wager plus your winnings as with real wagers. That’s what we call Type A bonuses. There’s a very minimal number of sportsbooks still offering them, but you won’t find them anytime soon.
They’re now using what we call type B bonuses where you’re still wagering that bonus money but they will only deposit your winnings in your account without the wager part. This makes it a lot more difficult to reach your roll over multiple and you’re likely to lose all that bonus money before meeting that roll over number.
Many bookmakers are even requiring you to place those bets on games having minimum odds of a certain amount like -120 or -125 and it’s becoming the rule that they’re also requiring you to bet the whole amount of your bonus every time. Some even require you to place those bets within a certain period of time and others don’t allow you to place them on the moneylines. Have a close look at their Terms and Conditions or Policies if you think you can get easy money from those bonuses. It’s not as easy as it used to be.
The best way to use those bonuses is by getting on the same page as the purpose sportsbooks are offering them which is to reward you for dealing with them and the best and more secure way to cash those bonuses will be by using the 3 sportsbooks you’ll have accounts with.
Since it has become much more complex, we’ve made a separate document addressing this new bonus reality.
You can download it for free by clicking on the link below: