Originally on 10/18/2023:
Its standard for a book to put a limit on a payout if they give you free money without a deposit. Its different if you made a deposit and got a free play or cash bonus where the rollover requirements will vary from book to book. What business would allow you to win unlimited money without any risk on your end? No business would.
I have given away hundreds of thousands of these no deposit bonuses to players over the years and every single time there was a cap on how much you were able to win. Every time!
The books would send these no-deposit bonuses for one of 2 reasons for the most part. To get new players and to bring back losers. When I say losers, it's referring to whether they are up or down with the book. Early on, they would have to call-in or live chat in order to claim the bonus. Later with technology, they could just enter a promo code online to redeem the bonus. Some players, wouldn't be able to claim it for a variety of reasons. The most common being several accounts. I can't even tell you the amount of times a player would open several accounts to redeem these no-deposit bonuses. Sometimes, hundreds of accounts. LOL.
Most savvy bettors would take the bonus and bet small favorites or whatever, and then take their winnings. Most newbies would bet the entire amount on a parlay and sometimes would get lucky and immediately think the sportsbook is in business to payout thousands of dollars to players without them risking anything.
I have seen players take these non-deposit bonuses and turn it in several thousands and I would feel sorry for them (being an avid sports bettor myself) and giggle to myself at the same time watching them keep on betting knowing they can't cash out but for a small percentage of their balance.
Periodically I would even contact the player who was up several thousand to make them aware of the rules. Most of them would say things like "ya man I know but I just wanted to see how high I can get it LOL" but occasionally they would either pretend they didn't know or actually didn't bother to read the rules.
Here's an idea for you. Not sure if it will work for ya but its something I did a few times. If a player took a non-deposit and turned it into a few dimes which he couldn't cash out of course, let's say $5000 (using your example), if you were losing with the book over the years, I would call him up and offer him to keep his winnings as a match cash bonus if he deposited $5000. There would be a rollover of course. So depending of your history with that book, it could be an option.
Bottom line, they confiscated 90% of something you weren't entitled to.
Its standard for a book to put a limit on a payout if they give you free money without a deposit. Its different if you made a deposit and got a free play or cash bonus where the rollover requirements will vary from book to book. What business would allow you to win unlimited money without any risk on your end? No business would.
I have given away hundreds of thousands of these no deposit bonuses to players over the years and every single time there was a cap on how much you were able to win. Every time!
The books would send these no-deposit bonuses for one of 2 reasons for the most part. To get new players and to bring back losers. When I say losers, it's referring to whether they are up or down with the book. Early on, they would have to call-in or live chat in order to claim the bonus. Later with technology, they could just enter a promo code online to redeem the bonus. Some players, wouldn't be able to claim it for a variety of reasons. The most common being several accounts. I can't even tell you the amount of times a player would open several accounts to redeem these no-deposit bonuses. Sometimes, hundreds of accounts. LOL.
Most savvy bettors would take the bonus and bet small favorites or whatever, and then take their winnings. Most newbies would bet the entire amount on a parlay and sometimes would get lucky and immediately think the sportsbook is in business to payout thousands of dollars to players without them risking anything.
I have seen players take these non-deposit bonuses and turn it in several thousands and I would feel sorry for them (being an avid sports bettor myself) and giggle to myself at the same time watching them keep on betting knowing they can't cash out but for a small percentage of their balance.
Periodically I would even contact the player who was up several thousand to make them aware of the rules. Most of them would say things like "ya man I know but I just wanted to see how high I can get it LOL" but occasionally they would either pretend they didn't know or actually didn't bother to read the rules.
Here's an idea for you. Not sure if it will work for ya but its something I did a few times. If a player took a non-deposit and turned it into a few dimes which he couldn't cash out of course, let's say $5000 (using your example), if you were losing with the book over the years, I would call him up and offer him to keep his winnings as a match cash bonus if he deposited $5000. There would be a rollover of course. So depending of your history with that book, it could be an option.
Bottom line, they confiscated 90% of something you weren't entitled to.