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Online sportsbooks often offer a variety of bonuses and promotions to attract new players and keep existing ones engaged. One of the most common types of bonuses is the welcome bonus, which is typically available to new users upon signing up. This often comes in the form of a deposit match, where the sportsbook matches a percentage of the player’s initial deposit, sometimes as high as 100%. For example, if you deposit $100, the sportsbook may give you an additional $100 in bonus funds to use. Another popular promotion is the risk-free bet, where the sportsbook refunds your initial wager (up to a certain amount) if it loses, allowing you to try again without losing your entire stake.
Other bonuses include free play or no-deposit bonuses, where players receive a small amount of betting credit without having to make a deposit at all. These are great for beginners who want to explore the platform with minimal risk. Some sportsbooks also offer ongoing promotions like odds boosts on specific games or parlay insurance, which provides a refund if one leg of a multi-leg bet fails. Lastly, loyalty programs and refer-a-friend bonuses can reward long-term customers with additional perks, free bets, or exclusive promotions for inviting others to join. Each sportsbook may have different terms and conditions, so it’s important to understand the specific rules before claiming any offer.