Betting Guide: How to use a Sportsbook Promo Code
When it comes to betting on sports, you need a great handicapping strategy. Once you’ve nailed that aspect of online gambling – and we’re here to help with that – you should be rewarded. This is where promo codes come in.
This tutorial will explain exactly what a promo code is, how to use one and the betting sites that offer the best bonus offers.
Exclusive Sportsbook Promo Codes at:
What is a Sportsbook Promo Code?
A promo code is a number, word or both that is given to bettors so that they can receive rewards at an online sportsbook. These prizes could be free bets, bonuses or even swag like tickets to big happenings like the Super Bowl, March Madness games or UFC events.
Codes would look something like this: BET200. The word here signifies what the code is for (betting), and the number shows you the percentage or amount of loot you’re entitled to (200 – could be 200% or $200).
The codes are created by the sportsbooks themselves and change often. A code may be available on a Wednesday but gone by Thursday. Other codes are constantly presented and can be used more than once up to a certain point (we’ll cover that later). Finally, you cannot use a code from one book at another, because they are exclusive to that site.
How to Use a Promo Code
Any of the betting sites we recommend above offer amazing codes. To use one, first you will need to create an account at your betting site of choice. When you sign up, most betting sites will give you what is known as a Welcome Bonus or Sign-Up Bonus. The code for this bonus will be displayed on their front page or in the Rewards section. You may also receive your code via email after you sign up. No matter where it is given to you, simply input the code in the allotted space, hit Redeem and it will be added to your bankroll.
There are different types of codes, each with their own benefits.
Depending on the season, you would find promotions associated with particular sports. For instance, from August to February you would find codes for college football and the NFL like: NCAAFOOTBALL50 or NFLBET25. There will also be some overlap with the NHL and NBA since these leagues are in action for much of the same time. For sports that occur throughout the year like men’s and women’s tennis and soccer, promos could be associated with major events like Wimbledon and the World Cup.
Some sites give out codes for specified types of bets. You may find a code like: PARLAY300 or SPREAD15 where it’s only applicable if you make a parlay or point spread bet.
This type is offered not just to sports bettors, but to those who use the site’s casino. Most sportsbooks have online casinos that you can access. The promo codes for these would be an offer of free spins at their online slots, or a complimentary hand of blackjack or poker.
The code would look something like this: FREEPLAY or FREESPIN.
Betting sites need to make money and to do so, they take a cut of each bet. This is called the vig or the juice. You’ll notice this when you place a bet. For instance, odds for a typical runline bet for baseball would look like this:
Yankees -1.5 (105)
Red Sox +1.5 (105)
In this scenario, New York would need to win by two runs or more, and Boston would need to win outright or not lose by more than a run. The number in brackets is the juice. It means that if you bet $100, $5 of that bet goes to the sportsbook.
In a risk-free bet, you would not be giving a cut to the betting site. The code may look like this: REDUCEDJUICE or NORISKBETS.
Equestrian sports take place year-round and most sportsbooks have their own racebook. To give bettors an incentive to wager on the ponies, you could see codes that look something like this: DERBY500 or STAKES20. These codes generally appear closer to big events like the Kentucky Derby or Belmont Stakes.
Refer a Friend
Let’s say you love the betting site you’re using and you tell your friend about it. They decide to heed your recommendation and sign up. Using the REFERAFRIEND code, they would indicate that you were the one who referred them to the sportsbook, leading you to get a reward. Promos like this are ongoing and most sites allow you to refer up to 10 friends. With each referral, you get another freebie.
What’s the Difference between a Sportsbook Promo Code and a Sign-Up Bonus?
Although they are often used in the same way, promo codes and bonuses are not interchangeable. A Sign-Up bonus is often known as a welcome offer or deposit bonus. This is a reward given to bettors based on a percentage of your first deposit. For instance, you could be offered a 100 percent match up to $300. That means that if you deposited $100, you would get another $100 to play with. However, there is a catch. More on that below.
What is a Rollover in Online Sports Betting?
In sports betting, you will run into the term rollover. This refers to the amount of betting you must do in order to be able to withdraw a bonus. Using the same example from above ($100/100% match), you are now technically working with a $200 bankroll. But, in order to withdraw that extra hundred dollars, you will have to bet a certain number of times. This is the rollover and it will be expressed as a multiplication (x). So, if your sportsbook promo code came with a 5x rollover, you would calculate it as follows:
(Sum of bonus + deposit) x (rollover)
(100+100) x 5 = 1,000
You’ll need to bet $1,000 before you can take out your full balance. Most bettors prefer to leave their bankroll as is and instead of withdrawing the bonus amount, they use it to bet with in the future.
Bitcoin Exclusive Promos
Cryptocurrency, especially Bitcoin, is rapidly becoming the go-to way for bettors to fund their betting accounts. We recommend using e-currencies like Bitcoin because they are safer, reliable and make for faster deposit and withdrawal times. You could fund your online sportsbook account in seconds and receive your payouts in the same amount of time. There are also no fees associated with crypto money, unlike a credit card.
Besides the aforementioned advantages of using Bitcoin, most sportsbooks are offering players exclusive promotions just for using crypto. These promos range from match bonuses in the same vein as a welcome offer, or you could be given the equivalent of $100 cash in the form of free bets.
Terms and Conditions
There are some certainties in life. One is that the Patriots are a dynasty (unfortunately, or fortunately – if you’re from New England), the other is that everything comes with a caveat. Besides rollovers, there are stipulations associated with each promo code. Make sure you read the fine print before using any reward whether it’s a $50 bonus or a free bet. Each sportsbook is different and the requisites could vary widely from site to site.
Do not sign up at a sportsbook just to use a promo code. Create an account at an online betting site because you want to have fun and bet on sports. The point of betting is to have a good time. The promo codes are simply an added bonus meant to reward you for choosing a certain betting platform.