Whether you want to claim a free bet offer or another type of sportsbook promo, you should understand these important terms and conditions before you try to redeem your bonus.
Wagering Requirements
Wagering requirements are limits that you have to satisfy before you can withdraw the winnings from your bonus bets. They are written as multipliers and basically describe minimum cumulative bet amounts. For example, a 5x wagering requirement, means you need to wager five times the amount of your bonus before you withdraw your winnings.
Redemption Periods
Redemption periods describe how long you have to claim the bonus offer after you create your account. For example, a 30-day redemption period means you have to redeem the bonus within 30 days of signing up for a sportsbook. If you take more than 30 days, you forfeit your bonus.
Minimum Deposit Requirement
Minimum deposit requirements tell you how much you have to put in with your first deposit in order to redeem the bonus offer. If you deposit less than the minimum requirement, you can’t claim the bonus. Most sportsbooks have a $10 minimum deposit requirement.
Limited Payment Methods
Many sportsbooks restrict which payment methods you can use to claim your bonus. If you make your first deposit with a restricted payment method, you can’t claim the bonus. E-wallets, like Skrill and Neteller, are typically restricted. This varies from sportsbook to sportsbook.
Expiry Dates
Bonus bets do not last forever. Expiry dates tell you how much time you have to use your free bets before they expire. Most bonus bets expire seven days after issuance.
Restricted Markets
Many sportsbooks limit which sports and markets you can use your free bets on. For example, LeoVegas only allows you to use free bets on parlays with three or more legs with a combined odds of -125 odds or greater.