Bookmakers offer a variety of bonuses which fall into two major categories: for current members and for new players. This article looks at the different types of bonuses you could benefit from.
Bonuses for New Players (Welcome Bonuses)
Generally, welcome bonuses are the most lavish of all but the least smartly used by gamblers. That’s simply because in the beginning most players don’t have a strategy for using this money to their best advantage so they usually benefit from a bonus partially rather than fully.
Before registering with a bookmaker, always check what kind of bonuses they offer to players.
Welcome bonuses are given away as percentage matches on the first deposit following registration, and they are always limited to a certain amount. The money you receive might take two forms:
Betsafe offers new players a 100% cash bonus of up to £30 on their first deposit.
This means your account will be topped up with up to £30 depending on the amount of your first deposit.
Even if you put in more than £30, the bonus will remain £30.
This is another common type of bonus offer which varies in different bookmakers.
For example, when you make deposit of 100$ at SportsBetting.ag, you receive 750$ in free bets.
It depends how imaginative the bookmaker is. For instance, they might enhance the odds for a certain match from 2 to 5. Whatever the offer, make sure you always read the terms and conditions that apply to it!
Lots of bookmakers offer their customers a bonus for making the first bet from a mobile device such as a smartphone or tablet. The bet should be around 25€.
Bonus Terms and Conditions
Once again, when it comes to bonuses, the most important thing you need to pay attention to is not the amount of money you will get but the requirements you have to meet so that the bookmaker doesn’t take the bonus back in the end.
The key information in each bonus terms and conditions is as follows:
- Rollover(rollover)- : This is a requirement to wager a certain amount of money before you can make withdrawals from your account.
Suppose you deposited €100 at Bet365 and got a €100 bonus. The requirement is to wager three times the deposit plus the bonus amount, or in other words, you would have to place a total of €600 worth of bets.
Or, another rollover requirement might be to wager only the bonus amount, so if you got a €100 bonus to be wagered three times, you would need to achieve €300 of betting action.
The number of times the bonus has to be rolled over depends on the bookmaker; it is mostly 3-6 but it can reach 10-12 times. Sometimes the bonus is activated only after you place bets equal to the value of your deposit. You can check the status of your bonus in your account.
Bonus validity period:Some bookmakers require you to claim your bonus by entering the bonus code, or whatever the particular procedure, within a specified time period after you have registered.
For example, you need to make a deposit within a week of your registration in order to be eligible for the bonus. In other words, the offer expires after 7 days.
- Rollover timeframe: This is yet another thing to consider. Rollover requirements always have to be completed within a particular timeframe. The period varies with different bookmakers but it is usually between 30 and 90 days.
- Minimum odds: If you lay your bet below the lowest accepted odds, it will not count towards the rollover requirements. Normally the minimum odds is 1.50.
- Betting restrictions:Asian Handicap and goals market betting, among others, might not count towards the rollover requirements.
- Withdrawals:Keep in mind that if you request a withdrawal before meeting the requirements, the bonus might be rendered void.
- Family:Be aware that only one bonus is awarded per household. If you make multiple registrations on behalf of all your family members, the accounts might be blocked and the bonus money refunded to the bookmaker.
- Eligibility:Always check which deposit methods as well as countries of origin are not eligible for the promotion.
Bonuses for Current Members
- Reload:If there are no funds in your account and you have been inactive over time, the bookmaker might offer you a reload bonus if you make a deposit.
This might be a cash or free bets bonus. Beware that these are short-time offers that usually expire in a couple of days. Don’t forget to read the bonus terms and conditions!
- Accumulator (multiple) bet: This offer has become an integral part of most bookmakers’ betting portfolios.
When playing an acca, the more selections you include, the higher the bonus win percentage that will be added to the overall bet slip odds. Besides the number of games, the promotion might also have a minimum odds requirement.
- Loyalty bonus:From time to time you might get a bonus out of the blue. Actually, this will be due to the fact that you have played quite a lot and have lost some money.
Converting the Bonus into Cash
There are two ways to convert a bonus into cash.
- Roll it over by betting until the wagering requirements are met. This is the best approach for beginners. Bet using free money and gain experience along the way.
- Try releasing the bonus by making the exact opposite bets with another bookmaker or a betting exchange.
The process of releasing a bonus is straightforward.
- You need to have enough money in your betting exchange account Betfair, In Betfairor with another bookmaker where you have chosen to cover all possible outcomes of a game.
It is easier with Betfair because you can directly lay bets there, and the overall odds are better.
- Look for sporting events and markets with the smallest possible difference between the bookie’s odds and the lay odds.
- Bet on the more likely outcome on Betfair and on the opposite outcome using your bonus money
If you don’t expect a victory of the guest in a given game, you use the bonus to back the 2, and at the same time, you lay the 2 on the exchange. The bet amounts may be the same but it is important to note that there is a slight difference in the odds as well as commission which Betfair will deduce in case of a winning bet.
Alternatively, if you are certain about the outcome of the match, your bet on Betfair could be larger than the one with the bonus money. That way if you got it right, your winnings on Betfair would be greater and enough to cover the commission and the difference in odds. However, you would suffer a small loss if you didn’t guess correctly.
- It is easier if you bet on different sports, especially if you use two-outcome betting markets because the odds are roughly equal.
The key point to remember is that you should always read the bonus terms and conditions, and in case of questions, you should contact the bookie’s support for clarification.