Types of Betting Bonuses
Welcome bonuses are those that you are most likely to encounter on your initial sign up; they are also pretty much one time offers only. However, lifetime bonuses and promotions add more value overall.
If you pick one of the best online bookmakers for bonuses and promotions, then the chances are that during your time at these bookmakers, you’ll have the opportunity to take advantage of a decent number of sports betting bonuses and promotions aimed at every one of its customers.
These bonuses can be offered as incentives to make another bet; they’re also rewards for being a loyal and appreciated customer. They can be an offer to get you back if you haven’t made a bet for a while, or even to cheer you up if you’ve had a losing streak.
Whatever the purpose, these are offers that can add to the fun and excitement and even add to your betting bankroll.
A Reload Bonus
Now, there may be times that you haven’t necessarily been on a lucky streak with those winning bets coming in; there might be a time when the bankroll you had in your account has dwindled down to nothing.
Hopefully this won’t happen too often. Hopefully you’ll be at a point that you withdraw much more than you deposit. However, bear in mind that is something that might happen. In this unfortunate case you might well be offered a ‘reload bonus’; this is the bookmaker’s way of encouraging you to keep going and not to simply cut and run.
These reload sports betting bonuses are never quite as eye catching or as mouth-watering as those initial sign-up bonuses, as it’s incredibly unlikely that they’ll offer you another 100% or even 200% bonus, however, that means you’re not going have to keep on working off the hefty wagering requirement that comes attached.
When you get this offer, you’ll also be much more aware of your betting habits, what type size of bonus best suits you and you can make a more informed choice on what to do with it if and when you claim it.
Cashback, or rebates as some bookies call them, are an incentive for punters who find themselves on a losing streak. If you get the offer of one of these sports betting bonuses, then basically for every £1 that you either bet or lose, then the bookies will give you a certain percentage back, in order to minimise your losses.
It is important if you do get one of these bonuses, that you consider this when you make a bet because this can significantly alter the value of a bet you place as the risk isn’t as high.
If you win, then you get a decent return, but if you don’t win then you may get 25% or so of your stake back, which decreases the overall risk of the bet. This can alter the choice you make when deciding where to wager your money.
Special Promotional Bookmakers Bonuses
Now, there are certain times of the sporting calendar when there will be a lot more interest in placing bets. Certain events throughout the year see people that never normally go near a bookies have a little flutter. These are generally people that either have no account – or an account opened up last year and never used again. For this reason, this is the prime time to offer a special promotion; to lure back those bettors who are potentially anyone’s.
So, imagine you were always going to have a bet on the Grand National. Online bookmakers understand this and throw out some very impressive deals at this time; this could be the key to making sure you get a great deal when making your bet. Online bookmakers will therefore use this period to offer sports betting bonuses such a free Grand National bet of 50% of your actual deposit. If you take it up on its offer then if you deposit £50, then you will automatically be credited with a free £25 bet that you can place on the Grand National. This is always a great offer, so it’s the perfect time to sign up. If you’re looking for a new sportsbook then picking one at a popular time of the year is the best way to get the best deals.
Sign-up / Welcome Bonuses
A welcome bonus, sometimes referred to as sign-up bonuses, are the offers that most often look the best and the most enticing; these are designed to get the new bettors through the door. These are often much more attractive than lifetime bonuses. The welcome bonus is highly competitive and for this reason, when looking at these, you need to do your homework. The online bookmakers will attempt to dazzle you with big and impressive numbers. However, be careful and make sure you read the terms and conditions carefully. Online bookmakers want to lure you through the front door – not bankrupt themselves by giving away loads of free money.
There are different types of bonuses you may be offered as part of your welcome bonus. It could be matching a percentage of your initial deposit – often 100%, but it could be higher; some even go to 200% or even 300%. Be careful though, because the higher the sports betting bonus, the more you have to wager to actually withdraw. Other sign-up bonuses could include simply match your first bet or even offering to multiply the winnings that you make from your first bet.
These bonuses are normally the best that the bookmaker offers and are only available for that one time only. Because of this, you need to act carefully with these. Read the terms and conditions and check the wagering requirements. Also, check the time limit attached to your welcome bonus. Finally, make sure that you take your time when signing up so you don’t miss out on the offer by accident.
First Deposit Bonuses
Although a welcome bonus generally needs to be claimed on sign-up, they don’t normally have to be actually used on the sign-up if you don’t make your first deposit on that day. You may sign up on Monday, and click to claim your first deposit bonus, but choose to actually make your first real money deposit on the big game on Wednesday. You need to check the terms carefully though as some may have time stipulations in the terms and conditions. There are some online bookmakers that state that it is for deposits made on that same day. Others can be more flexible, so read the terms and conditions carefully to avoid losing the welcome bonus completely.
These initial deposit bonuses tend to be deposit match bonuses; for every £1 you deposit, the online bookmaker will match a certain percentage of that deposit. These normally range between 50% – 100%, but can be more. These are sports betting bonuses that will have minimum and maximum deposit amounts attached, so please make sure that the amount you want to deposit is valid to claim your bonus before you commit your money to the site.
Another welcome bonus some online bookmakers offer are free bets or matching bets. An example of this offer may be when you make your first deposit of £30; the bookmaker allows you to place a bet for £10 without having to lay out any of your own money. If this bet loses, then no harm done – you lose nothing of your own money. However, if you manage to land a winner, then you get the winnings.
Visually this welcome bonus may not look as exciting as a 100% bonus up to £150 … comparing a free £10 to a £150 bonus can be very deceiving. It may not look as enticing, but there are definitely advantages to be had if you get a free bet. If you don’t think that you’ll be making bets too frequently – just on major sporting events such as the Grand National or Wimbledon Final, then you can have some fun with it. You can put your welcome bonus free bet on whoever you like. It doesn’t matter if you want to take a chance the underdog because it’s not your money at risk. There’s also no commitment to the bookmaker as there isn’t a huge wagering requirement attached to cash out.
A Matching Bet
If you get a matching bet as opposed to a free bet, then this is slightly different. Here, the online bookmaker will give you the same bet you have made again. If you bet £20 on Federer to win the final, it will give you another £20 bet on Federer; essentially you have £40 on him winning. This ensures that you can’t place £20 on Federer, placing your ‘free bet’ on Nadal, guaranteeing a winning profit.
Because of the nature of these bonuses, the outcome is essentially that you are doubling your win; therefore, the best option is to go for the favourites. This way you’re odds on to get a good payout, as opposed to being in with a long-shot of getting a humongous payout.