There’s no such thing as a free lunch. Sportsbook’s “free” bonuses are included.
While every sportsbook would love you to deposit and accept the terms and conditions of their sexy bonuses, there is a string attached to that carrot. Its name is rollovers.
A rollover is what a sportsbook makes you do before prior to withdrawing your money. In other words, if you don’t fulfill your rollover, you will either forfeit the money or they won’t let you withdraw until you have met the rollover.
By now, you are wondering what a rollover actually is. So, without further a due, here is the definition: it’s the amount of action you have to generate/play before you can withdraw your money.
Say you deposit at a Sportsbooks ‘R Us and they give you a 10% bonus on your $1000 deposit. With a 3 x rollover, you have to bet three times the total amount in your account (deposit and bonus) before you can withdraw anything.
$1100 x 3 = $3600
In this case, you have to bet $3600 worth before you can withdraw. Keep in mind that this is just the amount of action that has to be played and not an amount of how much money you win or lose.
Say on your first day, you bet $330 and win $300, but lose a $200 bet. In total, your account is now at $1200 but your rollover requirement has dropped to $3070 because you placed $530 in bets.
Keep in mind that different sportsbooks have varying levels of rollovers. Some places have rollovers that are as low as 1 x where as other places can have rollovers of 10 x or higher.
Clearly, you want to play at places where the rollovers are lower because that way you have access to your money much sooner.