The competition among bookmakers is extremely intense in the online market. One approach to attracting punters to new platforms relates to introducing various promotions and bonuses. From this article, you’ll discover all the important aspects of such sports betting online offers, including their types, tips on how to get them and more.
Types of Bonuses
Every sportsbook has a unique set of offers available to its users. The offers can dramatically vary among different bookmakers, so it is important to understand the key types of bonuses you can obtain. The first and the most common way to reward players relates to giving out free bets for deposits. For example, by depositing a specific sum, you will get a free bet worth 50% of your transaction.
As their name implies, free bets are wagers that you can place without spending any money on your balance. It is worth mentioning that the face value of the free bet is not paid back once the result is calculated, meaning you will only get the profits on your balance. There are some additional rules associated with free bets that we will review further on.
Deposit bonuses are less common among sports betting online platforms, but you can still find them at some bookies. These promotions are a lot more intuitive, as you just get your transaction boosted by the specified percentage. Instead of getting a single free bet, you will simply receive the funds to your balance and be free to spend them on multiple wagers.
Sometimes, the sportsbooks also introduce cashback offers. The value of your cashback and the approach to calculating it may vary from bookmaker to bookmaker, but in general, you will be able to retrieve around 5% of your net losses. Some sportsbooks, however, calculate it based on the total sum wagered, making the offers a lot more beneficial.
Last but not least, there are loyalty programs available on some platforms. They will grant you various rewards for being active in the sportsbook. Usually, your progress is tied to the total sum you have wagered. Reaching new levels may grant you free bets, exclusive promotions, cash prizes or other VIP-limited prizes and features.
As you might have expected, each bonus comes with a set of rules. Otherwise, the players would immediately withdraw their deposit bonuses and abuse the system until the sports betting online platform goes bankrupt. The good news is that the rules are rather intuitive and easy to understand.
With free bets, you will be regularly limited in events you can place the wager on and on the resulting odds. In most cases, the odds will have to be higher than 1.50 for you to successfully place a free bet. The rules are individual to each sportsbook, so make sure to check the Terms and Conditions document for more details.
With other promotions, the bookmakers usually introduce wagering requirements. This rule obliges you to place some bets with your bonus funds before you can actually withdraw them. The range of bets eligible for meeting the wagering requirements may also be limited, so make sure to check up with the T&Cs of your platform.
How to Get a Bonus?
The process of activating a promotion is quite intuitive on most sports betting online websites and apps. Firstly, you will need to create an account and log in. Then, you’ll have to switch to the promotions tab and select the offer you wish to activate. Before doing so, make sure to read the terms associated with it. Once you’re ready, just hit the Activate button on the promotion’s preview. Then, make an eligible deposit according to the terms and enjoy your bonus.