Taking advantage of sportsbook bonuses can be a real boost to your sports betting bankroll, but it is important to understand the terms and conditions that come along with the bonuses.
The main term you’ll see associated with sportsbook bonuses today is “rollover requirements”. This terms means that there is a certain amount of betting handle (action) that you must bet through before clearing the bonus. On this page I will break down some of the differences in rollover requirements that you should pay attention to, and also give an example to show you rollover requirements work and whether the bonuses are still worth taking advantage of.
Different Rollover Terms
There are a couple differences in the rollover requirement terms between sportsbooks that you should be aware of.
Withdrawing Funds Before Requirements Met
Many sportsbooks will not allow you to withdraw funds until the rollover requirements associated with the bonus have been met. Others will allow you to withdraw, but the bonus amount will be forfeit.
- SportsBetting will not allow you to withdraw until you’ve cleared the requirements.
- Bovada will allow you to withdraw, but all bonus funds AS WELL as any money earned by wagering the bonus funds will be forfeit.
The amount of rollover required will also differ between sportsbooks. It’s also important to note whether the rollover includes the bonus amount or just the deposited funds.
Both SportsBetting and Bovada use the deposit amount + bonus to determine the rollover requirements.
- SportsBetting has a 12 times rollover requirement on their typical bonus.
- Bovada has a 5 times rollover requirement on their welcome bonus.
Here’s an example using the SportsBetting.ag 75% matching bonus for new sign ups.
If you joined SportsBetting and made a first deposit of $400 you would receive $300 in free play bonus funds. The rollover requirement associated with this bonus offer would be $8,400 [(400+300)*12].
This means you would have to bet through $8,400 in action before requesting a withdrawal.
How Long Does It Take To Clear?
The rate at which you clear the rollover requirement will depend on how often you bet and for what stakes. However, I will say that the rollover requirements clear much faster than you may expect.
Continuing with the example above, if you deposited $400 let’s say you wager $50 a day across a few bets. That would mean that you would clear the bonus in 168 days of typical betting, or around 5 months.
I personally think it’s still very worthwhile to take advantage of sports betting bonus offers. It’s free money in your betting account and as long as you don’t need the funds back cashed out by a certain date you can simply play your normal bets and the bonus requirements will clear without you noticing.