More and more states are passing and enacting legislation for sports betting in their respective states. It’s a win/win situation for those who want to place a legal wager as well as the states who derive additional tax revenue because of it.
And as sports betting becomes even more common across the country, those who choose to get in on the action are curious as to the bonuses and how they work at the online sportsbooks with which they choose to do business. Let’s talk about some of the bonuses and what a customer must do to meet those requirements.
What’s a Rollover?
Bonuses at virtually all of the licensed sportsbooks in the United States, and everywhere else for that matter, come with a catch. The catch oftentimes is the rollover requirement. You will commonly see comes with a 5x rollover or a 10x rollover or…pick a number. Let’s take the 10x rollover for example. If you deposit $100 and the sportsbook has a 10x rollover that means you will have to make $1000 worth of bets in order to get the bonus because $100 x 10 = $1000.
This assures the book that you won’t deposit, take the bonus, and never make a wager with your original deposit. It’s like playing with house money from the get-go. That would not be in the book’s best interest so they make you earn it. Whether you win or lose your bets makes no difference, as long as you play, they will eventually pay you the bonus once the requirement is met.
However, how they count the wager can be different depending on the book. If you bet a baseball game on a favorite at -200, you would have to bet $200 to win $100. Many books will count the $100 you win towards your rollover and $200 if you lose. You must read the requirements to know what the rollover entails. View all active sportsbook deals and odds boosts using TheRX.
DraftKings is one of the biggest names in America’s online sportsbook business and their current promotion is a bit simpler than keeping track of rollovers. At least this particular promotion is, as they will have other promotions that could involve rollovers like the ones we cited above.
For every $25 you wager, DraftKings will add $1 towards your deposit match bonus money on their welcome package to new customers with the bonus capped at $1000. Whatever you deposit, DK will credit 20 percent as your bonus. But you must earn it. Therefore, if you deposit $5000 you will immediately be eligible for the entire $1000 bonus but to get it your total bets must equal $25,000. Simple math will tell you how we arrived at this: If DK gives you $1 for every $25 you bet and the total bets you make equal $25,000 then it is simply $25000/25=$1000. It is essentially a 25x rollover.
DraftKings, like virtually every other licensed sportsbook in the U.S., has all kinds of promotions and they change all the time. Make sure to read the rollover requirements at the books you are considering and find out which ones make the most economical sense for you and the type of bettor you are.