Sports Betting Offers – How Do They Work?
Bookmakers put out their best online betting promotions to win and keep customers. With a policy increasingly oriented towards bettors, sports betting sites compete fiercely. But as a player, you have to be careful not to get carried away by the size of these offers, since they are not always so easy to obtain. We will explain here the secret of the best online betting offers. Let’s get straight to the heart of the matter with the most famous one: the welcome bonus.
What is a Welcome Bonus?
As the name suggests, the sign up or welcome bonus is specifically for new bettors. Thus, when you are new to an operator, a welcome bonus is offered as soon as you open your account.
First bet paid off! This is usually the slogan found in sportsbooks to refer to the welcome bonus. As you can see, sportsbooks will reimburse you for your first bet in case of loss. But that’s not the only possibility. Some operators offer to double your first deposit as a new player, others offer you free bets. It should be noted however that these offers are subject to specific conditions, which you must meet before obtaining them.
How to Get a Sign Up Bonus on a Sports Betting Site?
It is not always easy to take advantage of these welcome offers, especially as a beginner. First, be aware that bonuses do not cash in the same way. Let’s discuss the offer of the first paid bet. Very often, the sportsbook offers a refund of 100% of the value of your bet. It also specifies a limit to be refunded. But the first condition to benefit from this offer is that the bet in question must be a losing one. If by chance it is a winning bet, then there will be no bonus. But you will get the winnings from the bet.
HERE IS AN EXAMPLE:
An example is an operator who offers a 100% refund within the limit of 50 $. For your first bet, you bet $ 20 and you lose. You will be refunded the amount of the bonus, or $ 20, for a new bet. It will be the same for a lost bet of 40 $ because the refund will be 40 $. But when you bet an amount equal to or higher than 50 $, the refund will not exceed this sum. Why? Simply because there the maximum threshold is 50 $. So, even when you lose more than 50 $, the amount refunded will not be more.
Let’s come to the second possibility of the registration offer: the first boosted deposit. Here, when you make your first deposit, the bookmaker gives you an additional credit, equal in value to your first deposit. But, to cash in this bonus, you will have to wager the amount offered, several times. Let’s take an example of another operator who offers 100% on the first deposit within the limit of 100 $. To withdraw the amount equivalent to the amount of the bonus, you must wager it 3 times. Assuming you have a $ 40 deposit bonus, you must bet $ 40 * 3, or a total of $ 120 before withdrawing the amount.
However, the bonus will not wait for you indefinitely. Indeed, sportsbooks leave you a specific deadline to unlock it. For some, it’s 60 days and for others, it’s 90. Some sportsbooks cancel both the unlocked amount and the amount remaining to unlock when the deadline has expired. Others are more lenient and leave you the part of the bonus already unlocked. Do not be surprised by these maneuvers, it is very important to read the general terms and conditions of each online betting offer before you start.
Sign up bonuses are indeed very popular on sports betting sites. But these are not the only ones the operators are offering.
Different types of sports betting bonuses encountered in the sports betting world
There are several types of sports betting bonuses that populate the online gambling zone, each of them with specific conditions.
This type of bonus is well known, and very often merged with the welcome bonus. Indeed, to get this bonus, you must make a deposit on your player account. Its percentage depends on the bookmaker and the conditions of use are also very specific. In general, the website requires deposit bonuses to be wagered before being cashed. It should be noted that the bookmaker indicates a minimum amount to be deposited, usually, the required amount is not high.
FREE BET NO DEPOSIT
Probably the most appreciated bonus in the world of online betting is the free bet no deposit. Players use it to make free bets. However, you do not necessarily find it on every bookmaker’s website. On certain sports betting sites, your account is automatically credited after activation (confirmation of e-mail address or telephone number). For the rest, you must confirm your identity by transmitting the documents required by the sportsbook. Then your account will be immediately credited.
This type of bonus in sports betting is usually offered via social networks. Sports pools are challenges among bettors, organized by sportsbooks to maintain their community.
You’ll get a referral bonus from some operators when you invite a friend through a link, and that person signs up. This offer is in the form of cash or free bets.
These are bonuses offered on combined bets, which, by nature, are difficult to grasp. To encourage you to take this risk, bookmakers boost your combined bets, starting from a minimum of selections. As an example, we can mention the combo bonus that offers up to 50% additional earnings, or the 5 dollars that are offered by some sportsbooks on some combo bets.
MOBILE SPORTS BETTING BONUS
Mobile offers are not very frequent. Mobile bets are mainly developed to adapt to the demand of players who are turning more and more to mobile media. Many bookmakers offer mobile versions of their platforms, even applications.
LOYALTY PROGRAM BONUSES
If attracting new players is one of the top priorities for sports betting sites, keeping those who are already in the house is just as important. For this, in addition to providing quality services, operators set up loyalty programs that reward regular players. Thus, every time you make a deposit or a bet, your bonus account will be credited with points, which you could exchange later for gifts, free bets, or cash.
In short, the way the sports betting offers work varies slightly according to the bookmaker you have chosen. As for the welcome offer, there are several possibilities. Either it is in the form of the first bet refunded, or in the form of first boosted deposit. Other bookmakers prefer to offer free bets to new players, or a combination of both.
Each operator goes according to its own policy and possibilities. Obviously, the conditions to cash in the bonus are also variable. It is important not to neglect the bookmaker’s general conditions and read the bonus requirements.
What are the criteria for a good sign-up bonus for sports betting?
An excellent sign up bonus is one that has fairly flexible terms. Among these, we distinguish:
The amount of the bonus: a nice bonus prize attracts the most people and the bookmakers understood that. But even with a nice sum, you must know how to identify the bonuses representing a good opportunity or not. The offers in the form of refunds are interesting and so are free bets. But beyond the amount granted, you must read the bonus requirements and see what is more advantageous to accept: the cash or the free bets.
Free bets: this is the part that is tricky for the most bettors because bookmakers usually put it in small print. The reality is that a $ 50 cash refund bonus is always more interesting than a $ 100 bonus that has a 3 to 6 times wagering requirement, before any possibility of withdrawal. If you are a beginner in the world of sports betting, it would be more advisable to opt for this type of offer.
Minimum deposit amount: the policy differs from one operator to another. Therefore, you must choose one that matches your ability. Thus, the amount of the first deposit is a criterion to consider. On certain sites, for example, the minimum deposit is $ 10, while on others it is $ 20. In both cases, these amounts are not exorbitant, but if you are a low-budget bettor, you should take a look at the terms and conditions of the bonuses.
Deposit methods: they are multiple. The more flexible they are, the better you’ll feel when making a deposit. Do not hesitate to check if your bookmaker offers flexible and fast deposit methods.
Withdrawal time: if on some sports betting sites, a portion of the bonus amount is released immediately after the bet result, for others, it is necessary to wait 24 to 72 hours. In any case, take a look at the conditions of the bonus, so as not to be surprised.
To Sum Up: The Best Sports Betting Bonuses
The best sports betting bonus is the one that allows you to bet with confidence, without having to meet several conditions. While it is interesting that the amount of the welcome bonus is high, it is equally commendable that the conditions that surround it are flexible, especially for beginners.