OHIO SPORTSBOOK PROMOS

The Basics Of Ohio Sportsbook Promos

Now that you’re aware of your options, consider several different types of bonuses. Depending on the betting site you choose, you’ll have different types of bonuses at your disposal. Insurance bets, bet credits, matched deposits, and no-deposit bonuses are the most common types you’ll find.

It would help if you also familiarize yourself with turnover requirements and how they affect bonuses. These stipulations can make the difference between a great bonus and a worthless bonus.

Some of the sportsbook bonuses in Ohio

Insurance bet

The first thing to know about Ohio bet credits is that they are not entirely without risk. Although the name suggests that you’re invincible when you make these bets, the reality is a bit different.

Insurance bets promise that a player will get refunded a certain amount of their deposit. However, you have to lose your bet to achieve that bonus refund.

Different bonus sportsbooks set their own rules for these bonuses. However, you’ll find that many require you to use your refund as a site credit for another bet. You can sometimes spread this refund over multiple bets, but other times it’s restricted to one bet.

Bet credits and no deposit bonuses

Bet credits are essentially the same as no-deposit bonuses. These aren’t super common at major bonus providers. A lot of the time, if you want the big welcome bonus, you have to make a deposit first.

However, they may offer some smaller bonuses if you keep playing that are bet credits. A bet credit is a bet you get to make without having to make any deposit. The bonus sportsbook essentially offers you a certain amount to wager.

The difference between this and an insurance bet is that you won’t get anything back if you lose the bet. A bet credit specifically requires that you make the wager and move on. The only way to profit off of it is by winning said wager.

Deposit bonus “matched deposits”

When it comes to Ohio sports betting bonuses, matched deposits are another offer you may encounter. They may call these “100% match deposit” or “50% match deposit”, etc. Essentially, these bonuses guarantee that if you deposit a certain amount, your deposit will get matched by that percentage. Of course, there is also typically a deposit minimum to meet.

For example, a betting provider may have an 80% match deposit bonus with a $20 minimum deposit requirement. This would mean that you need to deposit at least $20 to be eligible.

If you, for example, deposited $100, then you could potentially get $80 back. Note that your matched deposit money usually has to meet turnover requirements, which we’ll explain below.

Turnover requirements for Ohio sports betting bonuses

Turnover requirements get imposed on most Ohio sports betting bonuses. Anytime you take part in a bonus offer, you should read the terms first to determine what turnover requirements exist. They are often listed as a number with an “x” following it. This means that you need to wager that many times before you can actually cash out any bonus winnings.

For example, if you make an initial $10 deposit and it’s matched by 80%, you start your account with $18. Let’s say that you win $50 from that initial wager, and there’s a turnover requirement of 20x. This means that you can’t withdraw those $50 winnings until you wager 20x times your initial account total ($18).

So, you must compensate until you reach $360 total (20×18). Ultimately, you have $18 in your account before you wager, then you win $50 (so, $18+$50+X=$360). In this case, the difference is $292. Therefore, you must wager $292 more out of pocket to access your cash winnings from the first bet.