If you’re new to sports betting, you must be wondering how do sports betting bonuses work? They most often start with a nice sports betting bonus.
Well, before we go into it, you should know that there are many different types of bonuses you can choose from. However, they will all offer the same thing: a freebie in some form.
As introduced, a sports betting bonus of any sort will offer a freebie. This means that you will either get cash credits to use to place a bet or an entirely free bet. Considering there are two major bonus categories, No Deposit and Deposit Bonuses, you will be credited with your bonus either upon registration at the sports betting site, or upon your deposit.
While you’re reading this, you must be wondering: what does the sports betting site gain for giving you freebies in the first place? Well, some of the most popular sports betting sites are doing it to attract new players, and they’re usually setting some terms and conditions so that no one can take advantage of the bonus. These sites want to keep players engaged, so they shower them with other freebies the more they deposit. However, some sites don’t give freebies without asking something in return.
This something is usually a wagering requirement. To understand all of this, you need to learn more about the types of bonuses you can get on sports betting sites and the requirements they come with.
We mentioned the No Deposit bonuses. This is the best bonus you can receive, at least most of the time. It is the best option if it comes without wagering requirements. Otherwise, you’re trapped. What are wagering requirements really? Well, they are a bonus condition, which demands that you later deposit and play through, say 20 times the amount of bonus, before you’re able to withdraw the winnings you achieved thanks to that bonus. Say, the bonus was $10. You’ve used it and you’ve won $50. Now, you will need to deposit and spend $200 before you’re able to withdraw your $50. Not much of a great deal, right?
No Deposit bonuses that come with no wagering requirements are extremely rare, but if you dig deep, you can find them. They usually offer a smaller cash bonus, of say $5, but allow you to play without strings attached. These are the types of bonuses you will find at the very best sports betting sites. They are available only once, right after you create an account. They are there to make you stay, to make you continue playing with that operator.
Deposit Bonuses are an entirely different thing. They come in many forms, under different conditions. The Welcome Bonus is the first bonus you may receive. It can either be in the form of free cash to be used on specific events, or in the form of a free bet for specific events. It arrives with wagering requirements most of the time, naturally. An example of a Sports Betting Welcome Bonus would be $100 free for a $5 bet.
A Cashback is another type of a bonus you may receive. This is essentially a bonus with which you will get back a percentage of the money you lose should your ticket lose. For instance, you claimed a 10% Cashback offer, deposited $100 and lost $50. In this case, you’ll get $5 back either in the form of bet credit or cash.
The Acca bonus is quite popular across sports betting sites, too. This bonus allows you to place a 3-fold or 5-fold accumulator, for instance, for which you will receive, say 10% bonus boost, should all your selections win. Sure, there might be some additional terms and conditions, but essentially this bonus provides you with a boost on your winnings.
There may be many other forms of sports betting bonuses, depending on the operator. However, these are the basic ones you should expect. More freebies arrive as soon as you become a VIP player. VIP players receive many other special boosts which only further allow them to enjoy the sports betting experience.
Before you even think about claiming a bonus, you should stop and read the terms and conditions. This is a rule of thumb. Ask any sports betting player, and they’ll all tell you that claiming a bonus without informing yourself on the rules can be the worst thing you can do when gambling online.
And that’s not only due to wagering requirements. Sure, the wagering requirements are the scariest, since they can be really high, but, there might be other conditions you must meet before you can claim your bonus and withdraw your winnings. For instance, if you claim one bonus offer, you cannot claim another. Or, you get a bonus for your first ticket of the day and not any ticket of the day. Or, you can bet on specific markets, and not all, to get the bonus. Similar conditions may apply, so you have to be really careful.
But, should all conditions work for you and you agree with the wagering requirements, then you’ll really enjoy your freebies. If you’ve inspected the online sports betting site, you’re satisfied with what it has to offer and you’re planning on playing there in the long term, then you should claim the Welcome Bonus, regardless of the wagering requirements. This is a great bonus if you plan on playing and depositing at that particular site for a long time, long enough so that you can cash out your winnings.
Acca bonuses and Cashbacks are great, too. These are basically the bonuses that only boost your winnings, and ask nothing in return but following the instructions, the terms and conditions to detail. Claiming these two bonuses, you are getting insurance, a safety net. In case your tickets win, you get the boost with the Acca bonus. In case your tickets lose, you get at least some percentage of your losses back.