Whenever somebody is looking to place a bet on sports, it helps to be well-informed. Not only do people need to research the sport in question and look into things like form, but they also need to consider how the betting sites work.
Using these sites to get the best odds, understanding some of the terminology, and knowing which bets make the most sense can make all the difference.
This guide explores bonuses and rewards and how they work for people looking to gamble. We also briefly examine the betting lines and how they work, as they can significantly impact how people gamble and potential rewards.
Taking Advantage of Bonuses
There are so many different types of bonuses out there, with online sportsbooks such as BetRivers providing a variety of bonuses. As players can see from checking out this specific site, there are many different ways in which the bonuses can work.
They can vary depending on whether you are a new or existing customer and where you are based. In addition, bonuses can vary seasonally or even based on which sport you plan to bet on.
Plenty of different types of sites and specifically-developed apps are available, all with their own specific ways of offering different experiences and bonuses to their players. Some of the types of bonuses commonly available include:
Signup Bonuses
Signup bonuses are the most common type of bonuses you will find in the world of betting. All the betting platforms in the marketplace are trying to outdo one another and incentivize players to sign up with them. This means that there are many different potential bonuses that players can take advantage of.
There are no deposit bonuses, which don’t require players to deposit to benefit. This type of bonus allows players to try out a new betting site without putting any money into the account.
Another form of signup bonus is one where the operator matches the deposit a player places into their account. Sometimes, the gambling site will offer more than the initial deposit as a reward.
For example, if somebody has deposited $10 into their account, some gambling sites will provide them with $30 to gamble with. Some sites go further than this, with more significant rewards and signup bonuses.
Loyalty Rewards
Not all sites restrict their reward offers to their new players. Some also do an excellent job of providing loyalty rewards to players who have stayed with them for a while. These rewards can come in several forms, including free bets and promotions.
Some casinos have an excellent reputation for providing players with rewards for sticking with them, with many even providing a percentage of losses as cashback for players as a free bet.
Most betting companies are well aware of the power of customer loyalty, as many players stay with a betting app or site once they know it provides the markets and offers they want.
Seasonal Bonuses
Seasonal bonuses are available occasionally at many betting sites, such as a bonus at Christmas time.
Some are also smart with marketing and may email specific codes for things like free bets to players on their birthdays or other times throughout the year. It is a good idea to check your email and look for seasonal bonuses from different sites.
Free Spins
Free spins are only available at betting sites that also offer casino games. Quite a few sites combine casino and sports betting; some will provide players with free spins on certain games as a reward for signing up. Of course, this doesn’t make much of a difference for dedicated sportsbook bettors.
Free Bets and Money Back Bonuses
This is more likely to be relevant for those who are looking to gamble at sportsbooks. Some sites will provide players with free bets, especially on massive games where they know there will be a lot of interest.
Different sites offer these kinds of bonuses in slightly different ways. BetRivers, an example we have already used, has a promotion where they offer a free second chance bet to players in some scenarios.
If a player’s bet doesn’t work out for them, they may still get another shot at it in the form of a free bet they can use for another wager.
The BetRivers bet means that when someone makes a first deposit using a promo code and then loses the bet, they will return the amount they wagered up to a specified limit in BetRivers Bonus Bets.
Limits vary for each state, but there is a $500 second chance free bet valid for Maryland, Virginia, Pennsylvania, Illinois, Indiana, Michigan, and Louisiana residents, where up to $500 is returned as a free bet.
Some other sites and betting brands have similar promotions, such as money back on parlays if one line lets you down. Check each of the providers for the specific details.
Analyzing and Comparing Odds
People who regularly bet on sports will know that the odds can vary. They can vary significantly depending on the site you bet with and the event. This is why it is a good idea to compare the odds before placing any sort of bet.
Sometimes, one gambling site provides much better odds than another, and you should be looking to get this advantage if you can.
Some services allow people to compare odds on specific events, but even having accounts on multiple services and checking the differences between the odds can ensure that you aren’t missing out.
Promotional odds are another way that some companies offer rewards to their players. For instance, they may boost a line they think is likely or that statistics suggest could happen. This means they may give their players slightly improved odds for a specific line or team.
People are always looking for the best odds to get the most out of their bets, which often means comparing what a few different sites offer.
It all depends on how casual a player wants to be with their betting and whether they want to spend time on the comparison.
What is A Betting Line?
Betting lines can be a little bit confusing to understand, but they are effectively based on the probability of what bookmakers and their analysts think will happen.
A betting line refers to the money wagered to receive a specific payout and effectively can be seen as handicaps for a team, but betting lines are more complex than this. Betting lines help to differentiate between the underdog and the favorite.
For instance, a plus sign indicates that the team or player is an underdog, while a minus sign indicates that the team or player is the favorite.
A betting line of -200 means a gambler would have to bet $200 to potentially win $100 or $100 to win $50, and so on.
Handicap markets are often based on the way that the betting lines work. There are “points lines” and “money lines” in certain sports.
The money line is which team will win in most scenarios, but you may see it with -7 or -9 as a handicap. This improves the odds and allows bettors to place their bet based on a team winning by a certain margin.
Once someone starts to look into the ways that betting works and the different lines on an event, they are likely to begin understanding the various betting lines. There are lines on individual player markets, such as how many points an NBA player will score.
The odds are pretty much even roughly where the betting company predicts a player will end up, so for instance, if the line is set at 20 points, they think that player will score roughly that many.
Conclusion
As with shopping, people who want to create a betting account may benefit from research and shopping around.
By keeping on top of promotions and remembering to use the codes needed to activate them, bettors may get more for their money in the form of free bets.
In addition, gamblers should understand all the different markets and how points and money lines work.
Combining this with knowledge of the odds and the ability to compare them makes it more likely that players will find a betting site they are happy using. A bit of research goes a long way!