What Does Rollover Mean In Betting
- What Does Rollover Mean In Betting Rules
- What Does Rollover Mean In Betting Odds
- What Does Rollover Mean Tax
One of the first thing the players see when they visit the online sportsbooks is the big bonus offer for new customers. And while we believe that the free bets are among the best features of the internet sportsbooks, a condition of the bonus, namely the 'rollover', is not as publicized as the bonus itself, yet it also creates the most trouble for the bettor.
A sports betting rollover requirement is simply the wagering required by a sportsbook before bettors can withdraw a bonus. Each sports betting website will have specific requirements for clearing bonuses. The 20% CASH bonus offer with a 5X rollover means you will receive $125 to bet with ($500 + 25% of $125). You must wager 5X your initial deposit until you can withdraw that FREE CASH BONUS. 2 points 4 years ago. I'll be doing a write up on how bad BetOnline and Sportsbook.ag are soon. First off, they are one company pretending to be two. 12x rollover means that you have to make 12 x (deposit +.
As you already know we visit many sports betting forums and blogs on a regular base to keep tabs on the sportsbooks and it's unbelievable how often people would complain about a sportsbook just because they did not take the time and read the terms and conditions of the bonus. Some of our readers may be tired of us constantly reminding people that they should read the fine print, but we do so for a reason. And today we will take an in-depth look at one of the most misunderstood aspects of the sportsbook bonus - the rollover.
What Does Rollover Mean In Betting Rules
Let's take the current bonus offered by the popular (and highly recommended) online sportsbook Bovada and use it as an example to show how the rollover works. By the way, you can see a full list of sportsbook promo codes here, if you want to further advance your knowledge of the topic or take advantage of any of the Bookmaker's offers.
For this example we will take their very basic bonus offer which is 10% on deposits of over $300 for those who have obtained just the Gold Level rewards. Among the conditions of the bonus we find the following: 'required rollovers are 3-time for 10%' as well as 'rollover required is on deposit amount only'. So what does this mean? In order to understand how the rollover works, we must first explain what is 'rollover'. In simple terms, it is the amount required from the player to wager before they can withdraw the bonus given to them by the sportsbook. Keep in mind that the amount should be wagered, not necessarily lost, so if you place $100 bet and it's a winner, you already have $100 worth of rollover acquired.
Using the bonus example above, let's say that we deposit the minimum for the bonus, i.e. $300. Reading the terms and conditions of the bonus we know that the rollover required is only on the deposit, in other worlds $300. Note that some sportsbooks will use deposit+ bonus, which in this case would be $330 ($300 deposit + $30 bonus). which clearly increases the rollover needed before the customer can withdraw the money. We also know that the rollover requirement is 3 times, which means that the bettor must wager 3 times the deposit before they can withdraw. Using a simple math: 3x$300=$900, thus a player must place $900 worth of bets before they can cash out. As you can see, once an example is used - it becomes very clear how the rollover works and why many people who did not read the terms and conditions could be confused when their withdraw is not approved because they did not meet rollover wagering requirements.
Every online sportsbook will have rollover requirements on their bonuses, but some could be different than the example we used. Some variations include the aforementioned deposit+bonus calculation of the rollover, instead of just the deposit. Other sportsbooks may have higher rollover requirements, while another group may have smaller (but those are used on cash-back bets only). And then we have the sportsbooks which use non-withdrawable bonuses, i.e. once the player reaches the playthgouth limit they can withdraw the winnings, but the bonus amount would be deducted from the withdrawal before it is made. Naturally we don't recommend people playing at those types of online sportsbooks, but you can see how easy it is for the player to be upset if they just assume, instead of reading the rollover requirements.
As to why the sportsbooks have bonus rollovers in the first place, most of you may have already guessed. If the sportsbooks did not put those requirements in place, people would simply deposit, get the bonus and then withdraw, pulling on over the sportsbook. Again, when it comes to the rollover: don't assume, read it!
If you visit BestOnlineGambling.com regularly, you probably see me mention rollover requirements somewhat frequently. Instead of explaining what rollover requirements are on every page that mentions them, I’ve decided to post a one-time explanation right here.
Rollover requirements, also known as wagering requirements, are found in the fine print of every casino bonus on the internet. Rollover requirements state that you must wager a certain amount of money before you can withdraw a bonus or the proceeds of a bonus.
For example, let’s say that you sign up at a random online casino that offers a 100% deposit bonus. You deposit $100 and get a $100 bonus. Let’s also say that this casino states that you must wager 20 times the deposit plus bonus amount (20x is a standard number in the industry).
This means that you must place a total sum of wagers equal to 20 times $200, which is $4,000 of betting action. The important thing to note here is that you do not have to lose $4,000 – you only have to place a total of $4,000 worth of bets. This sounds like a lot of money, but it’s actually pretty easy to rack up a lot of betting action without necessarily losing a lot of money.
If you play slot machines, every spin of the reels counts towards meeting the wagering requirements. If you usually wager $1.00 per spin, you’ll reduce the wagering requirements by $1.00 every time you spin the reels. Over time, you will win some money and lose some money while meeting the wagering requirements.
Why do rollover requirements exist?
Online casinos implement rollover requirements because they don’t want to bleed money. If rollover requirements didn’t exist, players could just sign up to a casino, make a deposit and then withdraw a bunch of bonus money without playing a single game. Casinos would go out of business.
The same type of rule also exists for poker bonuses and sports betting bonuses. Gambling sites offer bonuses as a bonus for giving them your business. It just wouldn’t make sense to give away free money to every person who opens an account and then turns right back around and withdraws.
Gaming Exceptions
Make sure to always read the fine print of every deposit bonus before you sign up. Most casino bonuses come with terms and conditions that either exclude certain games or reduce the impact that certain games have on meeting the rollover requirements.
Blackjack, craps, video poker and baccarat are often excluded from meeting these wagering requirements. The reason these games are excluded or reduced is because they have a low house advantage. The house advantage in these games is so low that players could get these bonuses, place a bunch of even-money bets and leave with a profit almost every time.
What Does Rollover Mean In Betting Odds
Some casino bonuses do not exclude these games entirely, but they do reduce the impact that bets in these games have on meeting the wagering requirements. It is common to see casinos say that wagers in blackjack count by .50. This means that for every $1.00 you wager in blackjack, you reduce the remaining wagering requirements by $0.50.
What Does Rollover Mean Tax
However, not all casino bonuses exclude certain games. For example, Lucky Red Casino often releases limited-time-offer deposit bonuses that do not exclude any games whatsoever. If you like to play even money games, make sure you always read the fine print before you claim a deposit bonus.