There are different types of bonuses offered by online racebooks. Let’s take a look at them so that you can decide which one will work best for you and add to your bankroll. You should always consider a horse racing sign up bonus before choosing an online racebook.
The No Deposit Horse Racing Sign Up Bonus
One of our personal favorites is the no deposit bonus at an online racebook. As the name implies this type of bonus does not require you to make an opening deposit. The online racebook simply credits you with free money as soon as you create your account. A bonus code may or may not be required depending on the racebook that you choose.
Here are the steps to claiming this bonus:
- Create your online racebook account
- Verify your email and other information as requested
- Enter a bonus code if required
- Receive the free money to your account
That’s pretty simple! What you should know about these types of bonuses is that the amount is generally smaller than other types of horse racing sign up bonus offerings. It can average between $10-$20. Sometimes it is not actual free money but a free bet. Either way, you are being allowed to play some races for free as a reward for signing up.
The Matching Deposit Horse Racing Sign Up Bonus
This type of bonus can be more lucrative because it is based on the deposit that you make to your online racebook account when you sign up. It usually only applies to the first real money deposit that you make, but some online racebooks can spread it out over two or three deposits.
Here is how it works:
- Open a real money wagering account with an online racebook
- Make a deposit to your account, usually a $50 minimum
- The racebook matches your deposit up to a certain amount
- Wager with your free money on any races you want
The matching deposit bonus is usually offered as a percentage of your deposit. For example, a 100% matching deposit bonus would match the amount that you deposited dollar for dollar. If you deposit $50, the racebook gives you another $50 in bonus money. Some online racebooks will do 150% or even more. These promotions can change often so you need to check around to see which racebook is giving the best deal.
Can You Cash Out Your Horse Racing Sign Up Bonus?
Some players make a deposit with an online racebook or claim a no deposit bonus and are disappointed when they discover that they cannot immediately cash it out. You might as well understand up front that bonuses often have strings attached.
It would do the online racebook no good to give you money and then have you withdraw it without making any bets. The whole point of free money from the online racebook is to get you to make bets. The racebooks want your business and are willing to let you have a little free betting money so that you can see what they have to offer.
This brings us to the concept of the play-through. A play-through is a stipulation that requires you to bet your bonus money a certain number of times before it can be withdrawn as winnings. For example, a 5X play-through means that you need to bet the money a total of five times before it can be withdrawn.
Let’s say that you are given a total of $50 in bonus money. You would need to make a total of $250 in wagers with that bonus money before it is made available for you to withdraw from your account. That may sound like a lot but it can go quickly if you are wise and make good bets. The good news is that some online racebooks only require a 2X play-through, a much lower amount than that required by online casinos.
Will I Win With My Horse Betting Bonus Money?
No one can guarantee that you will be a winner at the online racebook. Horse racing is not just pure luck. There is a skill involved in handicapping that is used to separate the winners from the losers. If you are a good handicapper then you will stand a much better chance of winning with your horse racing sign up bonus.
Here are a few tips for using your bonus money:
- Only bet races in which you have a strong opinion
- Limit yourself to higher percentage wagers such as Place bets
- Bet the minimum amount on each race so that you have more opportunities to win
You can also spend some time reading all of the handicapping articles here at EZ Horse Betting. These articles will help you refine your approach and make you a smarter bettor. Horse betting is a game that requires you to use your knowledge of horse racing to improve your chances to win.
Are you ready to get started? Sign up today with one of our recommended online racebooks and you’ll be on your way to getting free money for horse betting. Check our Bovada racebook review, Twinspires review or even our Betamerica review. All great choice if you are in the US. 5Dimes review for folks anywhere!
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- Deposit & Withdrawal Options when Betting Horses
- How to Win at an Online Racebook
- Horse Racing Betting Near Me
- Bootstrapping a Horse Racing Betting Bankroll With Nothing
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