Referral bonus
What does "referral bonus" mean in sports betting?
A referral bonus is a sportsbook reward, usually bonus bets, that you and a friend both get when they sign up with your link and meet the deposit and betting requirements.
Most major books cap how many referrals pay out per month or offer window, and the terms change often and vary by state. Some books scale the reward with the friend's deposit. It's worth using when someone you know is signing up anyway, never as a reason to deposit more than planned.
Example
Your friend joins with your link, deposits and makes a first bet that meets the offer terms. You each get a bonus bet, which typically expires within 7 to 14 days.
Related terms
Expected value (EV)
Expected value (EV) is the average amount a bet would win or lose per play if you could make it many times. Positive EV (+EV) means the price is better than the true chance.
Unit
A unit is a fixed slice of your bankroll, commonly 1% to 2%, used to size every bet so stakes stay consistent.
Hedge
A hedge is a bet on the other side of an earlier wager to shrink how much you can lose, at the cost of how much you can win.
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