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Bookmaker sign up bonuses, free bets and betting websites offers
Get the unbiased truth about bookmaker bonuses. Some deals are good, some are not so good, but all bonuses and giveaways entice you to wager more.
Published on 22 June 2019
Updated on 22 June 2019
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Betting bonuses have always been part of the online sports betting industry since the day it was created. It is common practice for bookmakers to offer new and existing customers different bonuses; before, during and after their bets.
What is the purpose of Bookmaker Bonuses?
Betting bonuses are marketing tools used by Bookmakers to lure new clients with free bets, odds boosts, and provide opportunities for punters to profit; either non-monetarily, such descriptions and guidance for competing in new markets or financially profitable bonuses, designed to retain current customers.
The idea is simple. If you can keep your customers happy with bonuses and freebies then do it. The more your clients stay engaged the more opportunities you have for making money.
Types of Bonuses and Free Bets
There are several types of bonuses and free bets that are similar from one online sportsbook to another. Some bonuses are given away for just signing up for an account while others are for depositing a certain amount of money on your account.
You can say that these bonuses are the online version of casino comps, such as free drinks at the tables, etc. The free offers are perks given to customers with the intention of bringing in more business. These bonuses have changed somewhat throughout the years but they still serve the same purpose—they are advertisements and they are part of the overall marketing campaign.
Here are the common types of bonuses that you will see offered on many online sports betting sites:
• Signup Bonus: this is a term that is used to refer to any bonus that an online bookie will give you when you sign up for an account with them. If you’re a new depositor or a new client then you are given a signup bonus.
This bonus is actually the one that is most advertised across many different online sports betting website. It is also the biggest bonus that they can ever offer. However, there are some sportsbook sites that offer bigger bonuses than a regular signup bonus.
The idea behind this bonus is to give people an incentive to sign up for an account with a betting website. Potential new signups are promised a freebie in exchange for creating an account but that also means the new registrant should deposit some money.
The rates for the matches as well as the possible maximum earnings from that will be different from one online sportsbook to the next. The match rates that you will find will range anywhere from 10% up to a whopping 200% of the stated qualifying bonus amount.
• Reload Bonus: a reload bonus is offered to current account holders. Let’s say you already signed up for an account in an online sports betting portal. You then have made several bets and some have one and some have lost.
It is natural that you will want to add more money so you can keep betting more money. You can top up your account by adding more funds. This reloading of your account is usually given a bonus.
This is a rather popular bonus given away by online sports bookies. Brick and mortar casinos won’t be too keen on this. A reload bonus is a betting tool that sportsbooks use to retain customers.
It is sometimes offered to current customers who just lost their bets. They are offered bonus money for loading their accounts again with funds.
This is sometimes given as a match rate bonus. The online bookie will match a certain amount or a percentage of the cash that you will deposit. This match rate is usually capped at a certain amount. This is a way for the online bookie to protect his own funds from giving away too many bonuses.
• Deposit Match Bonus: sometimes a sports book will offer you with a deposit match bonus. This is sometimes offered to returning customers and it can also be offered to new customers.
Deposit match bonus isn’t a 1:1 matching bonus. It doesn’t mean that if you deposit £100 that the bookie will match it with £100. You won’t see an extra hundred on your account.
The bonus offer will be a percentage of the amount that you will deposit. So, let’s say you just signed up and finished a game. Whether you won or lost you might see an offer for a match bonus of up to 50% of your next deposit.
That means if you made a new deposit that is worth £100, you will see an extra £50 in your account as a matching bonus. Note that you will have to make the deposit first before getting the bonus.
• Free Bet Bonus: this is another very common bonus that is given away by sportsbooks and bookmakers to retain current customers. Not all bets win of course and they do need to find ways to keep their customers entertained even if they are losing their money.
This bonus comes in the form of a free bet or wager that you can make. You may have lost your previous bet but then you are offered a free bet.
Make sure you read the fine print
As you can imagine, it’s impossible for Sportsbooks to just give away bonuses like crazy. Remember that they’re trying to make money from this business too. Imagine if they gave everyone bonus money and enough customers get a winning streak.
They will eventually end up going broke. Just like casinos, online sports booking sites will have safeguards in place to prevent unwanted financial circumstances.
In the case of bookmaker sign up bonuses, there are terms and conditions that apply to each bonus. A lot of them will make it hard for a lot of customers to get their hands on the promised bonus.
Sometimes it will come in the form of higher wagering requirements. Some of the wagering requirements will come with a multiplier, such as 5x and others may even be as high as 25x.
Therefore, in order for you to get the full bonus amount you need to wager 5x the amount of the bonus amount so you can claim it. There are other terms and conditions too.
So, before you get enticed by bonus offers, make sure to read the fine print and understand the terms and conditions that apply. If you feel that you can meet those requirements, then go ahead and get that bonus offer.
Otherwise, be all means sign up with the bookmaker, but ignore the offers and place sensible bets, without the bonuses, so you can escape any prohibitive bonus offers or restrictive free bet terms and conditions.
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