The online betting industry has been gaining a lot of traction over the past few years. One of the things that happen when an industry starts to develop, is the opening of new companies, which in turn are competitors to each other. However, in the betting industry, online sportsbooks and betting sites offer similar odds on sports bets and almost identical betting conditions for all players. With the market saturated with betting websites, how can they stand apart from each other?

While it can be very hard to pinpoint a key advantage a sportsbook operator can highlight to compete against its competitors, there’s one thing that betting websites know how to do well to attract new punters to their domain – bonuses. Online sportsbooks and betting websites have started to implement all kinds of different bonuses to stand apart from their competition, and this is a very good thing for punters because they stand to gain the most from the competition, and the bonuses they can use to their advantage.

Here we’ll see, what kind of bonuses players can take advantage of, to lower their betting costs, and increases their chances of winning. A good recommendation for an online bookmaker, we can wholeheartedly recommend Coral, for which you can claim a bonus code coral, for a nice welcome bonus.

Sign-Up Bonus

The Sign-Up Bonus is one of the most common bonuses that can be found at online sportsbooks and betting websites today. It’s one of the simplest forms of bonuses, but in many cases, it can be the most lucrative depending on the amount of money you’re willing to bet. It is worth noting that the Sign-Up bonus is available only to players registering on the website for the first time. The way this bet works is, for example – if you bet 50$, you get 50$ to use for free on your next bet.

This bonus practice makes the second bet free of charge, and you get to keep any winnings you get. It’s a nice bonus, hassle-free.

Risk-free Bet

This is also a very popular form of a bonus which aims to encourage new players to dip their feet into the waters of the betting world. A risk-free bet means that the betting company guarantees they will give you back the money you’ve bet, even if you lose every single cent of it. You might get an offer of up to 1000$ in a risk-free bet depending on where you live. The amount you get back also depends on the betting website, or online sportsbook you decide to bet at.

For a beginner bettor apart from searching for good bonuses, it’s good to brush up on some basic rules by reading a beginner’s guide to online sports betting.

Reload Bonus

A Reload Bonus works similarly to how a Deposit or Sign-Up Bonus works. You get a certain amount of money, usually a percentage of the money you’ve reloaded into your account once you’ve spent the initial Deposit Bonus. The biggest advantage to the Reload Bonus is that it’s available to players who aren’t beginners as well. Most sportsbooks lack bonuses for people who have played a while since most bonuses are aimed at attracting new players, and a very few, are aimed at player retention. Reload Bonuses are offered weekly, monthly or a few times a year, but keep an eye out for them, as they are usually quite lucrative.

Cashback Promotions

As far as promotions go, Cashback Promotions are usually very popular and with good reason. Like Free-Risk bets which give you back a certain amount of money you’ve lost on the bet, a Cashback Promotion works similarly. The players get a percentage of the money they’ve lost betting or a percentage of the money the casino has profited on the player. Like Reload Bonuses, the Cashback Promotion is also available for veteran players, and not just for new players who are joining the casino with their first account.

With legal sports betting on the rise, now is the best time to get into it if you’ve never bet in your life. The kind of promotion available at the online sportsbooks varies from website to website. To find an offer that best suits your playstyle, make sure to do thorough research on the available offers on the various betting websites.