Every promotion comes with terms and conditions that govern how to claim and use them. This is usually spelled out in the bonus T&Cs and the description of each promotion.
It is essential that you read through and pay attention to the T&Cs to get the best from the bonus you want to claim. Below are some common terms and conditions of sports betting promo codes you need to consider:
The wagering requirement of a bonus refers to how many times you need to wager the offer before you can withdraw the winnings. For example, if a bonus has a rollover requirement of 10x, you will need to bet the offer at least 10 times before the winnings are yours to keep.
For this reason, bonuses with lower wagering requirements are considered better since you can fulfill the requirements more easily than those with high rollover requirements.
Minimum deposit or qualifying deposit is another essential aspect of a bonus T&Cs that you need to consider. You can only claim a deposit bonus when you make the required minimum deposit and not lower.
For example, if a risk-free bet has a minimum qualifying deposit of $10, and you deposit only $5, you cannot claim the offer even after using the right promo code.
In addition to minimum deposits, bonuses also have a maximum deposit stated in their terms and conditions. This represents the maximum amount you can deposit and get back as a bonus.
For example, a 100%match bonus up to $100 means that the maximum deposit and offer you can get is $100. So if you deposit $1,000 for the offer, you will only get $100 despite it being a 100% match bonus.
Another aspect of a promotion's T&Cs that you need to pay attention to is the expiry date. Every promotion has a set time which they run for. But more importantly, they have a period where the bonus is valid. You must claim the offer and use it up during this period or forfeit it.
For example, an IL sportsbook may offer a risk-free bet that has a 14-day expiration. If you claim the offer and fail to use it within 14 days, you'll lose it. You must also complete the rollover requirement during the expiry period unless stated otherwise in the bonus T&Cs.
Most sports betting bonuses have a maximum amount you can cash out from the offer. This is the highest amount you can win from the bonus after completing the rollover and other requirements.
For instance, an operator may reward a player with a $50 betting credit and restrict the maximum win from the bonus to $200. This means that if you win more than $200 using the bonus money, you won't be able to withdraw the excess.
Sports betting bonuses sometimes have minimum odds that apply. The operator will specify the least odds you can use the bonus to wager. For instance, you may be offered a free bet and can use it on an event of at least -200 odds and a total bet of at a minimum of +400 odds.
If you select events with lower odds than the one specified in the terms and conditions, you may end up forfeiting the offer, or it won't count towards the wagering requirement.
It is important to consider all terms and conditions of a bonus before claiming it. If you do not understand the terms, you should contact your sportsbook's customer support for clarification.