The thing about sports is that they have audiences ranging in the millions. They are followed by loads of fans and covered by a variety of platforms. Some of these platforms happen to be online sportsbooks. They offer bettors the chance to place bets on the outcomes of various matches and some of them offer a variety of bonuses. New customers have an opportunity to utilise latest UK bookie sign up offers, while existing customers are offered other promotions. But what are sports betting bonuses?
Betting bonuses are incentives offered by online bookmakers to attract new customers and retain existing ones. A bettor might be looking to visit an online sportsbook because of a certain promotion and may choose to stay. An existing client may choose to stick to a site because of the right kinds of bonuses offered.
These bonuses come in various forms. First of all, they can be provided as cash or as free bets. Then they can be deposit and no deposit, meaning a customer has to make a deposit in the former case. In the latter case a customer has just to receive a bonus. Also the bonuses may include enhanced odds, cashback offers and some others. They can come in handy for certain bettors and can enhance their betting experience. The right equipment will also make this experience more enjoyable, but a vital thing about betting sites and bonuses is to enjoy them responsibly.
As mentioned before, there are all sorts of betting bonuses. Here are some of the most common ones that you’ll come across:
- Welcome bonuses for new customers
- Bonuses for existing customers
Both can be provided as free bets or as cash, though the latter is rare.
As mentioned above, some bonuses require making a deposit while others can be provided just after the registration.
Sometimes bonuses are provided in the form of enhanced odds or cashback for losing bets.
Welcome Bonuses
The welcome bonus or the sign-up offer is one of the most common kinds of sports betting bonuses. As the name suggests, this kind of bonus is available to bettors who decide to visit a site and register there for the first time. After registering they get this kind of bonus. There are different kinds of welcome bonuses and they will depend on the online sportsbook and how generous its operator is.
Bonuses for Existing Customers
Bonuses for regular customers are provided in different forms. Here we can speak of VIP or loyalty programmes, or bonuses provided for making a deposit on certain days or other bonuses provided for meeting certain conditions.
Free Bets
Both new and existing customers can get their bonuses as free bets. A free bet is exactly what it sounds: a bet that is offered for free by the bookmaker. Free bets are usually awarded after the customer has made a qualifying deposit and placed a bet with their own money. The customer then can place a free bet on a specified sporting event or market. The winnings from the free bet are returned to the customer as real cash, which they can withdraw or use to place further bets. Still the free bet stake is not returned, only the net winnings.
Deposit and No Deposit Bonuses
Deposit bonuses require making a deposit of a certain amount and usually placing a bet of the same amount, while no deposit bonuses do not require depositing any real money of your own.
Matched Bonuses
These bonuses are a certain percentage of the deposit amount. For example, a 100% deposit bonus means that the bookmaker will match the customer’s deposit. Usually, the maximum limit is also specified.
Bet – Get Bonuses
These bonuses require a customer to place a bet of a certain amount to get a sum specified in the conditions. It is usually provided in the form of a free bet.
The customer must meet certain conditions to qualify for the bonus, such as making a minimum deposit or betting on certain markets. The bonus funds are usually subject to wagering requirements, which means that the customer must bet the bonus funds a certain number of times before they can be withdrawn as real cash.
Enhanced Odds
Enhanced odds are odds that are temporarily increased for a specific sporting event or market. For example, the odds for a particular team to win a football match may be enhanced from 2.00 to 3.00. The customer can then place a bet with the enhanced odds and, if their bet wins, they will receive a larger payout than if they had bet at the regular odds.
Cashback Offers
Cashback offers suppose the return of a percentage of the customer’s losses as real cash. For example, a 10% cashback offer means that the customer will receive 10% of their losses back as real cash, up to a specified limit. Cashback offers are a good way for customers to reduce their losses and recoup some of their money.
Choosing the right kind of bonus is a process each registered bettor needs to go through. There are certain elements to consider before making a decision. Weighing in the pros and cons of these elements will tilt bettors towards one bonus or another. Here are the factors or elements to consider:
- Wagering requirements
- Expiry dates
- Eligible markets
- Payment methods
Wagering Requirements
Wagering requirements are conditions that must be met before the customer can withdraw their bonus funds as real cash. It is important to check the wagering requirements before accepting a bonus, as some bookmakers have requirements that are too high to be met.
Expiry Dates
Many bonuses have expiry dates, which means that the customer must use the bonus funds within a specified timeframe or they will be forfeited. It is important to check the expiry date of a bonus and make sure that the customer has enough time to use it.
Eligible Markets
Not all bonuses are eligible for all markets. For example, a free bet may only be eligible for use on a specific sporting event or market. It is important to check the eligible markets before accepting a bonus to make sure that it can be used on the markets that the customer is interested in betting on.
Payment Methods
Besides the factors mentioned above, the payment methods will also determine if you go for a bonus or not. Most online sportsbooks cover various methods like credit cards, mobile payment methods, digital currencies, bank transfers and more. Some bonuses may come with specific deposit and withdrawal methods and they might not be your preferred ones. So check the payment methods before going for a bonus.
In conclusion, betting bonuses are a great way for customers to get more value from their bets and increase their winnings. By understanding how betting bonuses work and what to look for when choosing a bonus, customers can make informed decisions and get the most out of their betting experience.
The array of bonuses, accompanied by the array of bets and types of sports such as basketball, baseball, and e-sports, due to an increase in the popularity of gaming, MMA, football and more contribute to the betting experience as a whole. Being aware of all of them will prepare bettors better.
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