It is not uncommon for sportsbooks to offer to match your first deposit up to a certain amount as a welcome bonus. But, as crazy as it sounds, you should not necessarily go with whoever is offering you more money.
Why not? Because the rollover requirement may be too much. And if you do not meet the requirement within the given timeframe, you do not get the bonus.
But what do they mean by rollover?
Well, it is not like rolling over your 401K from your old job into the 401K at your new one. No, the rollover requirement refers to how much you will need to bet within a given timeframe to qualify for the bonus.
Let’s say a sportsbook is offering to match 100 percent of your first deposit up to $1000. But before you can withdraw the bonus money, there is a 5X rollover requirement. What the heck is that? That just means you will have to place qualifying wagers totaling $5,000 before you can withdraw the bonus money.
So, why state the rollover requirement as “5X?” Why not just say that customers have to make $5,000 in wagers before they can withdraw bonus money? Because everyone is not going to deposit $1,000. The bonus has a max value of $1,000, but customers do not have to deposit $1,000 to cash in on the bonus.
If they just want to deposit $100, they can. The sportsbook would match it, and the rollover requirement would be $500.
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But cashing in on the bonus in the example is not as simple as just betting $5,000. You will have to make those wagers within a given timeframe. Some books give you just a week to do so, but most will provide you with two weeks to 30 days.
Fail to do so, and the bonus is forfeited.
Along with the timeframe, you need to make sure you understand how much you need to wager. Usually, all you have to do is multiply your bonus by the rollover requirement. But some will require you to multiply your deposit and the bonus by the rollover requirement.
If you miss that detail, then you may just bet half as much as you need to.
Should you make that mistake, when the bonus timeframe runs out, you will think you just earned a hefty bonus. But you will get nothing, and few things are more frustrating than thinking you qualified for your bonus only to find out you missed out because you overlooked the fine print.
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