With the abundance of online sportsbooks today, there is bound to be competition among sportsbooks to gain new clients. As a result, sportsbooks provide incentives for individuals to sign up with them – often in the form of deposit bonus offers. While free bonus bets are one of the best features of any online sportsbook, most people are unaware of the condition of the bonus, which is in the form of a “rollover”. Since the rollover is rarely as publicized as the bonus itself, it can create a lot of confusion and trouble for the bettor. Here are four things to know about sportsbook rollovers so you can be well-educated when signing up for a particular sportsbook.
Definition Of Rollover
The definition of a sportsbook rollover revolves around the deposit bonus or other bonuses offered by the sportsbook. The rollover is defined as the total amount that an individual must wager before he or she is allowed to withdraw the amount of the bonus – the amount wagered is independent on whether the wager wins or loses. All that matters is that the amount is actually wagered rather than the results of the wager.
A rollover always takes the form of a multiple, with different sportsbooks offering different multiples. The multiples offered can range from 2x to as high as 15x in the case of some sportsbooks. Obviously, the higher the rollover, the more money must be wagered in order for someone to withdraw their bonus amount. Sportsbooks with low rollover multiples will tend to advertise this fact since it makes it much easier for the bettor to actually withdraw their bonus amount. On the other hand, sportsbooks with high rollover multiples will likely try to hide this fact so that the individual will not be discouraged from betting on the sportsbook.
Types Of Bonuses With Rollovers
Usually, bonuses offered by sportsbooks take the form of a deposit bonus. A deposit bonus means that the sportsbook is willing to provide the individual with additional money to bet with on top of his original deposit amount. This marketing tactic is often used to entice individuals to sign up with a sportsbook and make an initial deposit. However, with loyal customers, the sportsbook will be more willing to provide additional deposit bonuses in order to encourage the individual to make multiple deposits. Deposit bonuses can take the form of match bonuses, where the sportsbook matches the amount deposited with free money to bet on, or simply deposit bonuses, where the sportsbook matches a percentage of the amount deposited with free money to bet on. Additionally, sportsbooks may also provide potential customers with sign up bonuses – free money to wager once the individual signs up, with no need for any deposits.
How To Calculate Rollover
Calculating a rollover is relatively simple and can be highlighted with an example. If a sportsbook is offering a 50% deposit bonus for deposited amount up to $200 and I decide that I want to take advantage of this offer, I may choose to deposit $200. As a result, I now have $300 in my betting account, calculated as $200 x 1.5 = $300. However, in order to withdraw this deposit amount, the sportsbook has set a rollover requirement of 5x my deposit amount plus bonus – other sportsbooks may simply set a rollover requirement based solely on the deposit amount or bonus, but the combination of the two is more common. Since the rollover requirement is set at 5x the deposit amount plus bonus, I must wager $1,500 (5 x $300) before I can withdraw my deposit bonus amount earned of $100.