Different types of sports betting bonuses in IL
Of course, the above are not the only available betting bonuses that sportsbooks in Illinois offer. Depending on the time of the season, there are other promos available as well, that you can look for.
Every online betting site has different bonuses and promo codes, that apply for different periods of time, sports, teams, athletes, etc.
When you register on a sportsbook, usually you get a nice sign-up bonus. In order to activate it, you have to make a deposit. The amount of the required deposit differs depending on the site. The bonus also varies.
This means that it can take the form of extra cash available in your balance that you can redeem, it can be a risk-free bonus or a bonus that boosts your odds on a particular game.
Betting promo codes unlock a specific bonus on a sportsbook. They are most often offered to new players, but can also be available for users that are already registered at the sportsbook.
A promo code usually gives you a bonus when you make your first real money deposit. Not all online sports betting sites offer promo codes and they are not valid on all occasions. They come with certain terms each time, such as a minimum deposit, a minimum bet, or it is tied to a specific period of time or sport.
No deposit bonus
A no deposit bonus is the bonus a sportsbook might offer that allows you to place a bet without having to deposit any real money. However, sometimes it comes with bounding requirements.
For example, you might not be able to withdraw your profits right away, or you can withdraw them if you have reached a certain amount. On first look, the no deposit bonus looks attractive, but you have to read the terms that go with it.
Free bets in Illinois usually come upon your registration to a specific sportsbook. In order to activate them, you have to make a small deposit first.
Then you get a bonus amount, for example, $25. Note that you cannot redeem this amount for real cash, you can only use it to place bets.
Boosted odds bonus is a rather new form of bonus. It is a bonus that gives increased odds on specific wages. It could take the form of an increased payline, a point spread, or the totals of a certain bet.
Moreover, sports betting sites may offer boosted odds for specific players or teams. A boosted odds bonus does not increase the chances of winning, it increases the payout in case of win. However, not all betting websites offer boosted odds bonus.
In a general sense, a risk-free bonus allows you to place your bet with your own money but if you lose the bet, you receive a compensation. The compensation differs depending on the site.
Usually, they offer a certain amount of money. However, if you do not lose the bet, you do not get any money. If you lose partly, you will get only the amount you lost, not the whole bonus.
Deposit match bonus
Sports betting sites offer deposit match bonuses typically when you sign up with them. The bonus matches a certain amount of your first deposit and gives you an equal amount in store dollars to spend on bets.
Most of the time, betting websites offer 100% match on an amount that differs from $250 to $750.
In order for betting sites to keep you as a customer, they offer a reload bonus. That is, once you reload your balance in your account with another deposit, the site will give you a percentage of that amount.
It ranges from 10% to 100%. Furthermore, the bonus comes with certain strings attached, meaning that there usually is a minimum and a maximum deposit amount.
This bonus is pretty straightforward, you receive a kickback if you refer a friend to the betting platform. The amount you get differs in each sportsbook.
Usually, you'll get a personal promo code or link that you can send to your friends. In most cases, the one you have referred needs to make a real money deposit in order for you to get your commission.