A sportsbook real money free bonus is a welcome offer that allows new bettors to have more betting fun without having to spend their own money. It can be awarded as part of a sign-up bonus or as a regular sportsbook promotion. It is important to read the terms and conditions of the bonus or promotional offer in order to understand how it works. While many sportsbook promotions and bonuses have a minimum odds requirement, others do not. In addition to free bets, many sportsbooks also offer Money Monday Clubs, insurance bonuses, and other loyalty rewards programs. For example, BetMGM offers up to $1,000 back in bet credits if your first bet loses.
Free bets are one of the most common sportsbook welcome bonuses and can be used to make a wager on any sport or market. They are not as complicated as no-deposit bonuses, but they do have specific rules that bettors should be aware of. These requirements are designed to ensure that a bonus is not used solely as comps or to make large wagers, and instead is used by bettors as genuine free money.
Many online sportsbooks use free bets to attract new customers and encourage them to deposit real money. This is a common marketing strategy that can be successful as long as the site has clear terms and conditions for these bonuses. Most of the time, these terms and conditions will include a rollover or playthrough requirement. This means that if a player wins a wager with free money, they will only receive their profit – not the original stake that was given to them for free.
This type of bonus is usually only offered to new bettors, but some online sportsbooks will offer it to existing customers as a reward for their loyalty. The amount of the free bet will vary depending on the sportsbook, but it is typically a small percentage of their first wager. Some sportsbooks will even offer free bets on major events, such as the Super Bowl or Stanley Cup.
A free bet can be a great way to get started with an online sportsbook. It can help you determine whether or not you like the platform and if it is worth depositing more money. It is also a good way to test out the site’s security and support. However, you should always keep in mind that a free bet is not a substitute for a thorough review of the sportsbook’s website and customer service.
Most sportsbooks require players to wager the value of their bonus money multiple times before they can withdraw any winnings. This is known as a playthrough requirement and is in place to prevent players from abusing the offer. It is important to note that there are some online sportsbooks that have no playthrough requirements and will allow you to withdraw your winnings immediately. This is the best type of sportsbook bonus to take advantage of.