Whenever you start working with a new online casino or online bookmaker, you’re most likely to be offered a free of cost bet or some amount of initial deposit bonus. This is all the more likely if you choose to bet with some popular online casino (which doubles up as a bookmaker) like Bet365. Normally, the size of such bonus would be dependent on the extent of your initial deposit. Although some sports betting bonuses may seem more impressive compared to others, when you delve deeper into the terms and conditions associated with them, you’ll understand that they probably aren’t as good a deal as you had thought of them to be. Let’s go over some of the important things you must keep in mind when comparing bonuses offered by different bookmakers. The idea is to ensure that you get a good deal overall.
The primary factor we’ll discuss below and also something very important is that you must work out the total amount of such bonus – both in terms of percentage as well as absolute value. Thereafter, we’ll throw light on the different types of rollover requirements and the time it may take you to avail the complete bonus amount. In the end, we’ll delve into some of the hidden terms and conditions associated with such bonuses that may not be too apparent initially, and become visible only after digging a little more.
Comparing bookmaker bonuses based on their sizes
As mentioned above, the first thing you must pay heed to when looking at sportsbook bonuses is their exact size in financial terms. Majority of bonuses may be provided to you in the form of a percentage of your starting deposit amount, with a certain capping. For instance, you may be offered a 25% deposit bonus, up to a maximum amount of £ 200, implying that you’ll be provided £ 25 extra for every £ 100 you deposit. Now, if you deposit £ 800 in total, you’ll hit the capping limit of £ 200. A reputed online casino cum bookmaker may even offer you 50% or 100% bonus on the initial deposit amount. It is often seen that online bookmakers like Bet365 sometimes go even further and offer higher poker bonuses to online casino players and sports punters.
In case you’re more keen on making a smaller initial deposit, that doesn’t hit the capping limit of the online casino, you must basically target an initial bonus that’ll give you the maximum percentage amount. On the other hand, sports bettors wanting to make bigger deposits should try obtaining maximum amount of bonuses, which may not necessarily be very high in terms of their percentage.
In case you’re offered a bonus in the form of a free bet, you must know that such free bets won’t normally include the bet amounts and that can make a huge difference. It’d be like placing a £ 100 free even money bet; now if you do win that bet, you’ll get £ 100 back (without the stake amount), effectively making it a £ 50 free bet. However, you’d not need to pay anything if you lose that bet. The best rule of thumb when considering free bets is viewing them as half of their stated amounts and then comparing them with the regular percentage bonuses.
Comparing different rollover requirements
Every initial deposit bonus offered by an online casino or bookmaker is guaranteed to have a certain rollover requirement (also commonly referred to as play through requirement). It refers to the number of times the sports bettor needs to gamble that much amount (of the initial deposit as well as the bonus) before he can withdraw the profits.
To give you an example, you may be offered a £ 50 bonus with 5 times play through requirement when you make an initial deposit of £ 100. It implies that you’ll need to place bets worth at least £ 750, which is £ 150 multiplied by 5, before you can actually claim the bonus amount. Such rollover requirements are normally 5 times or lower. However, some bookmakers may make it mandatory for you to play even more.
Please keep in mind that an online casino or sportsbook that has a very high rollover requirement may actually have a bigger bonus amount on offer, thus making it slightly harder for you to get the bonus amount cleared. Normally, whenever you’re looking at bonus amounts, you must ideally opt for a bookmaker that offers an achievable bonus, else you may end up with absolutely nothing. Furthermore, you may find some major differences in the rollover requirements of different bookmakers, so ensure that you properly understand the number of times you need to risk your money in order to withdraw the bonus amount successfully.
We’d also like to mention that even though as a customer you may find such rollover requirements to be highly restrictive, they’re an absolute necessity for the sports books. In the absence of such requirements, people may simply sign up, make deposits and then walk away with bonus amounts, and hence free money! This can make bookmakers go broke in no time!
Bonuses limited based on time
Another major consideration is the amount of time it’ll take for the bonus to get cleared. This time may vary from one website to the other, hence, you must pay equal attention to it as you do to the rollover requirement. If you’re someone who only indulges in sports betting on weekends, signing up with an online casino that puts a two-week time limit on bonus withdrawals may not make it a very good deal for you.
You’ll be able to figure out the exact number of bets you’ll need to place each week by looking at the rollover requirement in combination with such time limits. In case such combination works out to an amount that may make it uncomfortable for you to place bets with, you must look for different bonus offers instead.
Other important bonus comparison points
If you mostly gamble at reputable websites like Bet365, you’ll discover that you don’t need to worry about anything more than the considerations explained above. On the other hand, less reputed websites may impose several other requirements for you to benefit from such bonuses.
A commonly seen example in this regard is websites where you’re allowed to bet on a certain amount from the bonus figure in any particular wager. Such amount may be anywhere in the vicinity of 30%. These conditions can be pretty tricky sometimes. For instance, if we look at the earlier example, where you had received £ 50 after making an initial deposit of £ 100, and had to gamble £ 750 in total for that bonus to get cleared, in that scenario this 30% condition would mean that you’ll only be able to bet a maximum of £ 15. Betting anything more would mean that the bonus would get voided, and in some extreme cases even the winning amounts may be voided as well.
In a similar manner, the qualifying wagers may need to be over certain odds, disallowing betting on strong favourites. Such conditions may be worded and incorporated into the terms and conditions slightly differently depending on your nationality. Nevertheless, the concept of forcing sports bettors to take more risks in order to clear the bonus amounts remains the same.
You may also discover that a website may state that such bonuses are only and only for betting purposes, implying that you cannot withdraw any of the bonus funds from your account, thus effectively not making it a bonus at all! After all, what good is a bonus if you can’t score points with it and eventually withdraw it and use it as hard cash?!
In more extreme cases you may witness a website not mentioning any terms and conditions at the time of offering the bonus. You must strictly avoid such websites. Please keep in mind that it takes only a few clicks to go through the terms and conditions associated with such bonuses and you must never neglect their importance when signing up with online casinos or bookmakers.
Different kinds of sports book bonuses
It is common knowledge that the sports betting world is highly competitive and online bookmakers such as Bet365 do whatever they can to attract more players to their portals. One of the main methods of accomplishing this is by offering various kinds of signup bonuses to visitors. And thereafter offering some more to keep them playing or betting.
You can take good advantage of all such bonuses by planning a little in advance, thus giving a huge boost to your P&L statement. Let’s go over some of the different types of bonuses offered by such bookmakers.
Sign up bonus or initial deposit bonus
As also mentioned earlier, these are bonuses which are offered to new signups to a sports book’s website. In most cases, a percentage amount of the initial deposit is offered as bonus money. This percentage normally varies from 10% to 100% of the deposit amount. Furthermore, even though the money is credited instantly to the sports bettor’s account, it is actually not available for betting right away, implying that you can’t withdraw the bonus funds immediately. In order to successfully withdraw the bonus funds, you’ll need to meet certain rollover requirement of the online casino or bookmaker. This rollover requirement is the number of times you’ll need to bet using your initial deposit amount as well as the bonus funds.
Zero deposit bonus
Sometimes you may find that an online casino or bookmaker allows you to bet money without actually making you deposit any funds with that. Such zero deposit bonuses are normally very small and may not exceed £ 15 - £ 20. In addition, there may be a comparatively more stringent rollover requirement for such bonuses.
Free bet bonus
In such type of bonus, the online casino may offer you a free of cost bet depending on the extent of your initial deposit. In most cases it is a matched bet, implying that the casino would match up your initial deposit size by 100%. Please note that such free of cost betting bonus may not include the stake amount. Hence, if you deposit £ 50 at an online casino like Bet365, and place an even money bet, you will win only £ 50 on the placed bet, and not £ 100 (including the stake amount). Such free bets are normally not just offered to encourage signups, but also as a promotional means to keep existing sports bettors engaged. For instance, it is common for Bet365 to offer free bets on various soccer markets depending on the games finishing as 0 – 0 draws.
Standard deposit or reload bonus
Standard bonuses are normally offered to existing sports bettors at a website. While some online bookmakers offer such bonuses on a regular basis, others make them only a seasonal affair. Then there are bookmakers that provide such bonuses as exclusive deals to individual customers via emails. However, please note that these reload bonuses are smaller in size when compared to the signup or initial deposit bonuses. Furthermore, they may be subjected to rollover requirements as well.
Some online casinos and bookmakers offer punters a slight percentage of their losses back into their accounts, in certain betting markets. Such bonuses are known as cashback bonuses, and are meant to encourage sports bettors to freely indulge in their favourite pastime!