Hands up if you like freebies! Now that we’ve established that you’re not crazy, you can put your hands back down and use them to scroll through this article for our Bet Basics guide on how to make the most on any freebies, bonuses and promotions that sportsbooks offer when betting on the NFL.
One of the most wonderful things about the explosion of sports betting in the USA in recent years is the competitiveness it's created amongst online sportsbooks to attract new customers and give them the best gambling experience possible.
As a result of this, bettors are being treated to an almost endless list of bonuses and promotions in an effort to win your allegiance. The purpose of this guide is to help you understand what each of these promotions means and how to make the most of them so you can cash in while betting on the NFL.
DEPOSIT MATCHES
The first type of promotion you want to take advantage of to give yourself a head start on the road to NFL betting profitability is the deposit match bonus.
This is usually offered when you first register to bet with a particular sportsbook and involves them matching your initial deposit (usually capped at a certain amount) with an equal amount in bonus funds. This is a great way to immediately double your betting bankroll as the bonus funds can be used on a plethora of different NFL bet types.
The caveat is, the deposit match will likely have a play through requirement in order for you to convert those bonus funds into withdrawable cash. More on this later.
NO DEPOSIT BONUSES
A no deposit bonus is exactly what it sounds like - a free bonus bet that you get simply for signing up with a sportsbook. There’s no need to deposit a single cent of your own money.
In theory (albeit very unlikely), if you were lucky enough to go on an unbelievable NFL betting hot streak, you could turn that free bonus into thousands of dollars without ever risking a dollar of your own money.
No deposit bonuses are not frequently available and when they are, it’s never a huge amount of money. That being said, it gives you the rare opportunity to win real money betting on the NFL with absolutely no risk on your end, so what’s not to like?
FREE BETS
Free bets involve a sportsbook offering up free betting credits that a bettor can use to wager with. These generally take the form of a sign-up offer or an ongoing promotion and will almost definitely have a play through requirement. Occasionally, these free bets will only be available to use on a specific sport or event, such as betting on the NFL.
PARLAY INSURANCE
Parlay insurance is a wonderful option to have if you’re someone who enjoys the thrill of putting together an NFL parlay.
While a standard NFL parlay is very unforgiving in the sense that you’ll end up empty handed if any of your bets is incorrect, parlay insurance provides you with a small refund in the form of a bonus bet if you manage to get all but one leg right.
This might help ease some of the heartbreak if you manage to correctly predict 15 out of 16 NFL moneyline winners in your weekend parlay like the bettor below (spoiler alert: Detroit lost)…
ODDS BOOSTS
Odds boosts refer to the occasions where sportsbooks will offer up improved betting lines on certain NFL markets such as moneyline, spread, totals and prop bets, thus increasing your potential winnings.
Regularly taking advantage of these odds boosts whenever they’re available is a great way tip the advantage in your favour and incrementally improve your chances of turning a profit while betting on NFL games.
RISK-FREE BETS
A risk-free bet involves the sportsbook returning the amount you wagered even if your bet loses. This is usually done in the form of a bonus bet with play through requirements and is likely only to be offered as a one-off by the sportsbook.
PLAYTHROUGH REQUIREMENTS
To understand exactly what you’re getting with each of the above mentioned bonuses and promotions, it’s important to understand the meaning of play through requirements (also sometimes referred to as rollover).
Sportsbooks are not in the business of giving away free money to people who don’t intend to bet with their company. As such, they don’t let you immediately cash out any free bets or bonuses they offer you. To be able to turn these free bets into withdrawable real money, you first must playthrough the bonus money.
The playthrough requirement is generally indicated with __x requirement (e.g. 5x, 10x, etc.) which indicates how many times you have to wager the bonus amount before you can withdraw funds.
Now you understand how to make the most of NFL betting bonuses, we recommend checking out our list of top licensed & regulated legal sportsbooks where you can score exclusive offers and promotions courtesy of the team here at Bet Basics.