No deposit bonus on sportsbooks
A clear understanding of how no deposit bonus works is critical for bettors. Why? Because it gives sports betting players the opportunity to gamble for free at top-rated betting sites, but with the chance of winning real cash. On this page, bettors will find detailed information on how no deposit offer works, how to get it, its pros and cons, and the rules guiding the reward.
What is a no deposit bonus on sportsbooks?
A no deposit bonus is a free bonus credit given to players signing up for an online sports betting site. The only requirement is that they register a new account with the online sportsbook and enter a promo code if required, to redeem the offer. No deposit bonuses usually target new bettors and sometimes punters who have been inactive at the US sportsbook for a while.
This bonus offer is very popular among US players who want to try out new online sportsbooks but are not ready to make any real money investment. The good thing about the no deposit reward is that it gives players real money credits that they can use for free. However, it is important to keep in mind that the offer sometimes comes with restrictions, such as minimum odds that players can wager on.
Different ways to get a no deposit bonus on betting sites
Sometimes claiming a no deposit bonus on betting sites simply requires players to enter a special code or use a coupon to unlock them. As with other sports betting bonuses and promotions, there are several ways to get a no deposit bonus. In this part of the page, we have carefully explored the three most popular ways of getting a no deposit offer:
Benefits and drawbacks of no deposit bonuses
Considering the popularity of no-deposit offers, one can easily conclude that this bonus comes with a lot of advantages for bettors. Of course, the benefits are obvious, punters get the opportunity to wager and win real cash without putting down their own money. With this, they will be able to try a new sports betting site to see if it will meet their gambling needs.
Of course, even though the no-deposit reward offers bettors a good number of advantages, they can still expect some drawbacks. We have discussed the benefits and drawbacks of the no-deposit bonus below.
Benefits
With a no-deposit bonus, bettors can test the variety of sports and markets that are available at a gambling site. It will help them learn about how they are wagered on and the chances of winnings. If it appeals to them, they can proceed to make a real money deposit into their betting account.
Another benefit of the online sportsbook no deposit offer is that it helps players to practice and hone their skills that they can use later when gambling for real money. To summarize, below are the three key benefits players get for redeeming a no-deposit bonus.
Drawbacks
Like every other thing in life, no deposit reward has its shortcomings. One of the drawbacks of this sports betting bonus offer is that it is usually for new players or bettors who have been inactive on an online betting site. Once they receive their bonus, it is only active for a short period. Of course, it comes with some demanding and strict wagering requirements.
Hence, it is essential for players to read bonus terms and conditions before claiming it. This will help them to avoid some pitfalls, such as misuse of bonuses. Also, keep in mind that not abiding by the bonus rules can lead to losing a bonus or even worse account closure. To wrap things up on the drawback of a free no deposit bonus, we have listed the two key shortcomings below.
Rules and requirements for no deposit bonuses
When it comes to online gambling no deposit offer is certainly among the best bonus offers. However, like most things in life, they have rules and requirements attached to them. Therefore, players need to understand exactly how these rules and requirements work to be able to use them effectively. Below are three rules and requirements players need to keep in mind before claiming a no deposit offer.
1. Wagering requirements
In the online gambling world, wagering requirements are common terms that we hear quite a lot. It refers to the number of times you have to play through a no deposit bonus before you will be able to withdraw what you win. Most times, wagering requirements are called rollover requirements or playthrough requirements. But in general, wagering requirements apply to sports betting while playthrough rate applies to poker sites and online casinos.
All no deposit offers do always come with wagering requirements. These can range from 20x to 50x. To meet the wagering requirements players must wager the bonus offer that number of times. For example, if a no-deposit bonus has a wagering requirement of 20x, players will have to wager the bonus 20 times before they will be able to withdraw any winnings made with the bonus.
Some sports betting sites may even require players to wager both the bonus funds and the deposit amount. However, besides the number of times you have to wager bonus funds, there are other terms and conditions relating to wagering requirements that you should keep in mind. These include only winning paid and minimum odds.
2. Minimum odds
When we talk about minimum odds, we are referring to the lowest odds that can contribute to the fulfillment of no deposit wagering requirements. For example, if an online sportsbook’s eligible bets’ are from -300 to -250. Any bet with -200 odds would contribute toward the wagering conditions. However, a line with -350 odds will not.
3. You only get the winnings
In general, when players wager with real money and win, they receive both their staked funds and winnings. However, if players wager with a no deposit offer and win, they will only receive their winnings, and the bonus funds itself is gone. This means that if a player wagers $10 on a +100 line using a no deposit bonus and wins, the player will receive only $10 as a total payout.
Although a few betting sites allow players to withdraw their no-deposit bonus and their winnings after meeting the operator’s wagering requirements. So, it’s essential to read the bonus terms and conditions. Online sportsbooks always state these things there. If you don’t find the information there, you can simply reach out to the betting site’s support and ask if you can withdraw a no deposit bonus.
4. Limited sports and bet types
Online sports betting sites may limit the bonus to certain sports and bet types. This means that players can only use the no deposit reward to wager on the permitted sports and bet types.
For example, a bookie can offer players a no deposit bonus and specify that bettors can only use it to wager on football, basketball, and ice hockey. In a situation like this, using the incentive to wager on any other sports outside specified ones means going against the bonus rule.
The online sportsbook may also permit players to use the bonus on all sports, but set limits on the bet types. The operator may permit players to use the bonus on only Moneyline bets, over/under bets, and spread bets.
That is why we always advise players to ensure that they can use the bonus to wager on their favorite sports and market before attempting to claim the bonus. Also, keep in mind that game and bet restrictions vary from operator to operator.
5. Expiry date
Typically online betting sites impose a limit on how long players have to claim the no deposit reward. For example, the offer may expire seven or fourteen days after account creation. In addition, many online gambling sites also limit the time players have to meet the wagering requirements. If bettors fail to meet the wagering requirements within the specified time, the sports betting site will forfeit the bonus money and the player’s winnings.