The iGaming industry is a competitive one. Today, the best online casinos and sportsbooks offer cash rewards and free bets to help lure and keep players. But although most gambling sites offer both casino and sportsbook services, the bonus rewards come separately.
Now, for those keen enough, you’ll realize that casino bonuses online are 5x or even 10x the size of sportsbook bonuses. So, why is it so? And are online casino bonuses usable on sports betting and vice-versa? Here’s the whole truth!
After signing up for an online casino or sportsbook account, players receive free spins or free bets. In most instances, these betting services also offer no deposit bonuses to new players.
On the other hand, loyal players get rewards such as cashback, deposit bonuses, VIP treatments, etc. Therefore, there’s not much to differentiate casino bonuses online from sportsbook bonuses.
But here is where things get much clearer. The best online casinos give punters more bonus money to use on casino games than sportsbooks offer. Why so?
Seasoned casino players know that “the house always wins” no matter what. So while sports betting is all about doing deep research and making accurate bets, casino games are programmed to provide the house an edge over players.
Often, most casino games come with an RTP (Return to Player) rate. Essentially, this means that the casino is assured of some returns whether a player loses the bet or wins it.
For instance, if a game has a house edge of 5%, it means the casino takes home $5 for every $100 wager you make. This guarantees the house some profit and makes sure a player loses more if they continue playing.
The casino often attaches the playthrough or wagering requirements to bonuses to ensure the house edge deals with you thoroughly. Remember, more playing time means more losses, and the wagering requirement is essentially the number of times you play using the bonus amount before withdrawing it.
For instance, a casino may attach a 20x playthrough rate on a $200 bonus. Now this means you must play with at least $4,000 before cashing out the bonus money and any winnings. By the time you’ll have fulfilled the requirements, the casino will have recuperated the $200 bonus plus more on top.
But when betting on a sportsbook, you won’t need to worry about the house edge and the team tactics for the day. However, read the bonus terms and conditions carefully to avoid any complications with sportsbook bonuses.
The chances are that your favorite online casino also offers sportsbook services. But it might disappoint you to know that casino bonuses can’t be used on sports betting and vice-versa.
That’s because operators tailor their promotions for different games. Usually, online casino bonuses can only be used on slot machines, although some allow table game contributions.
But fortunately, some operators offer universal no deposit or deposit bonuses, although finding one might be a long shot. Whichever the case, there is a ton of freebies for both sports betting and casino game fans.
Overall, online casinos offer bigger player incentives than sportsbooks. However, the casino knows that the house edge will ensure they never go out of business. That’s why casino bonuses are more profitable to operators than sportsbook bonuses.
In addition, players can’t use casino bonuses on sports betting except in exceptional cases. Typically, the gambling site will tailor separate deals for both services. So, intelligent players juggle between the two and claim bonuses on both accounts.