Welcome bonuses are one of the most recognisable features of an online betting experience. They can be seen everywhere, from when you land on the homepage of a website for the very first time, to advertisement breaks during live sports events, to blasts on social media.
If you are new to sports betting, you may be wondering what the hype of these welcome bonus offers is all about and what they are exactly. They are a popular way for bookmakers to attract new customers by offering them incentives to sign up and place bets.
Sign-up offers, like a BoyleSports free bet, or deposit bonuses offered by other sportsbooks, provide a great opportunity at landing an incentive of some extra winnings. In this article, we’ll cover the ABCs of welcome bonuses in sports betting.
A is for Amount
A good place to start for this look at welcome bonus offers is with the amount. There are two key amounts that you need to pay attention to. The first is how much the welcome bonus will credit you. It’s good to check this to see if it’s worthwhile chasing.
The second important thing about the amount is how much you have to deposit and stake to claim the bonus. Welcome bonuses vary depending on the bookmaker. A common example though is to make a qualifying deposit and bet, and then free bet credits will be released.
B is for Bonus Type
Welcome bonuses can come in different types including deposit or no-deposit bonuses. Deposit bonuses, when you see them, give you extra funds when you make your first payment on the new account (often you have to make a bet of the same amount as well), while no-deposit bonuses usually require just signing-up with a bookmaker.
Welcome bonuses can be a fixed amount (like bet 10, get 20) or a percentage of the amount you deposit and bet (usually from 50% to 300%) . Bonuses can be credited as free bets or as cash, though the latter variant is rare.
In the realm of online sports betting, free bets are the most widespread option. These are free credits that you use as a stake instead of cash. They are awarded when your first qualifying bet on an account is settled, and you receive the bonus regardless of whether the qualifying bet wins or not.
There can also be a risk-free bet bonus which, in contrast, will only credit bonuses if the qualifying bet loses. If the qualifying bet wins, then you don’t get a bonus at all.
C is for Conditions
Not the most exciting part of bonuses, but arguably the most important is the terms and conditions. You will see the small print listed under any welcome bonus offer that a bookmaker has.
This will be just a summary of the key terms and conditions. It’s a good pointer and it should tell you the amount of qualifying deposit and bet amount, plus state things like payment restrictions.
But it’s up to you to go and look at the full T&Cs of a welcome bonus offer so that you understand them and can meet all the necessary requirements. Common restrictions may include minimum odds or maximum bet amounts.
T&C also include important information about using the bonuses – usually you can use any of them for specified bets placed with specified odds. And in offer to withdraw any winnings, you will have to fulfil wagering requirements.
D is for the Deadline
Somewhere buried in the terms and conditions of a welcome bonus offer will be deadline information. Most welcome bonuses have a deadline for claiming the offer and for using any free bet credits that are awarded.
In most cases, you can expect up to a couple of weeks to claim a welcome bonus offer, while you may get 7 days to use free bets or lose them. Take a look at this important part, so that you don’t miss the expiry date.
The ABC and D of welcome bonus offers should help you to get a better idea of what you are getting into. We can continue to name the factors, and E is for eligibility due to bookies restricting offers to residents of specific countries or regions, plus payment restrictions.
The latter can trip people up. A lot of bookmakers’ welcome bonus offers will exclude deposits made through e-wallets. Debit cards on the other hand are widely accepted for them. It’s just another aspect to watch before signing up to avoid disappointment. Also, you are not under any obligation to accept a welcome bonus.
Welcome bonuses can be an excellent way to start your sports betting journey. But don’t let them define your overall experience on a site. Offers for existing customers like free bet clubs, acca insurance and price boosts generally offer a lot better long-term value.