Comparing Sports Book Bonuses
Let’s go over the workings of various sports book bonuses and help you understand how you can efficiently evaluate each one of them. It will help you make smarter choices in your sports betting journey!
How to efficiently compare various welcome bonuses
Let’s understand the basics of all such welcome bonuses with the help of some easy to understand examples, and thereafter throw light on the important differences we must look out for.
Presuming that you have carried out some research and have narrowed down to at least 2 bookmakers, each one of them providing a 50% welcome bonus that’s matched at the time of your first deposit, how do you decide which one to go for?
Following are the three most important things that you must pay heed to:
– What is the specific betting or play-through requirement for each one of those bonuses?
– How much time do you have to fulfil those requirements, in order to benefit from the bonuses?
– Are there any rules, restrictions or terms and conditions associated with the number of bets you must place to meet the play-through requirement?
Play-through or betting requirement
This specific figure refers to the number of bets you must place before the welcome bonus becomes available to you for withdrawal. It’s a multiple of the sum of your bonus amount and initial deposit. Please note, there may be huge variations when it comes to these play-through requirements. You may witness bookmakers wanting you to bet around 6 times your initial deposit plus bonus amount, to anywhere around 20 times.
For instance, if you make a £ 200 deposit at a bookmaker which is offering you a 50% bonus, with 6 times betting requirement, it means that you’ll need to bet a total of (£ 200 + £ 100) x 6 = £ 1800 before that £ 100 bonus becomes available to you for withdrawal. So, the more frequently you bet, the more quickly that bonus will become available to you.
Although it may be easy for you to meet such play-through requirements over an entire sports betting season, getting pressured to meet all of them within a specific timeframe may not be something you’d like. For instance, if the bookmaker puts a condition that the bonus will be available only if you meet the play-through requirements within 30 days, you’d be better off accepting a free bet instead. Many such bonuses are offered with 60 - 90 days’ range.
The rules, restrictions and terms and conditions
It’s very important to carefully go through the rules and restrictions associated with such bonuses, before starting to compare them. Several bookmakers place restrictions on wagers placed on huge favourites, with some of them even specifying in clear terms that all placed bets must be at least even money or more. It’s the bookmakers that make it mandatory for you to place bets higher than 2/1 that you must be careful about. Such conditions can be a pretty tough ask, especially if the play-through requirement is 10 times or higher.
Free bet bonuses
This is another popular type of welcome bonus that’s offered by many bookmakers. You’ll need to make a certain minimum initial deposit to avail this bonus. For instance, you may be offered a free bet of £ 25 if you make an initial deposit of £ 25. Better luck next time in case you lose your bet, however, if your bet wins, you must know the terms and conditions you need to meet in order to withdraw the winnings.
In most cases, you’ll only be entitled to the winning amount and the stake amount would be returned back to the bookmaker. For instance, if you had used your £ 25 free bet to wager on a tennis match possibility (at even money), you’d be credited no more than £ 25, with the original £ 25 stake returning to the bookmaker.
Thereafter, you’ll be required to wager with your initial deposit and won amount a certain number of times before it becomes available for withdrawal. This play-through requirement is usually less stringent than deposit bonuses, as you need to bet only with the free bet winnings, and not your initial deposit plus the winnings. Once again, please know that there may be restrictions on the available odds and/or the bet types you can indulge in with such free bet offers. Such offers are normally very profitable, and are usually combined with major events such as Champions League or Super Bowl events.
Other types of new player bonuses offered by sports books
You’ll find that there’s plenty in common when it comes to welcome bonuses other than the simple initial deposit or free bet offers. The most commonly offered other type of welcome bonus is no-lose bet. In this bonus, you’re normally required to place a single bet on a certain match event and you win the bet if you had picked the wrong outcome. Quite obviously, there’s nothing stopping you from placing an opposite bet at some other portal!
You may also be given the option to avail short-term boosts in your winnings, for instance, 15% on top of your wins scored in a certain sports event or on first few bets. And these offers may also include other activities provided by online casinos.
The biggest benefit – Ongoing rewards
Although we’ve focussed only on the welcome bonuses so far, you’ll find that ongoing promotions and offers are far more important when it comes to building a solid betting bankroll in the long term, and once you’ve found the right sports book for your betting needs.
Please also note that these ongoing rewards may constitute actually 90% or more benefits that you would receive from your bookmaker, even if you choose to stick for no more than couple of years.
That brings us to our next important question – How to compare such ongoing rewards provided by various sports books?
The search for an answer to this question should actually begin even before joining any sports book, and involves finding out if the sports book has many different specials and promotions or not, suggesting that it takes good care of its regular punters.
There are several different promotion types, with the most common one involving money back or extra bets on various sports events. For instance, a free £ 20 bet if you place 3 equal wagers on the weekend NFL games. Some of these bets may provide you with money back on specific outcomes, for instance, a football bet that returns your bet amount if no goals are scored.
You must basically find out how frequently your bankroll will get topped-up with such specials. You must also find out about other incentives and opportunities like in-play betting, mobile betting, crossover promotions etc.
Although all of us hope to make only one-time deposits and build our bankroll from there on, the reality is that you’ll face bad runs from time to time. This is where reloads and reload bonuses come into the picture. These bonuses normally work the same way as the welcome offers, offering a percentage match to the amount deposited by you, and then a play-through requirement. Many bookmakers offer such bonuses as a part of their promotions, and may email them to you from time to time, if you’ve been inactive on their portal for a certain amount of time.
Please note that ongoing offers are quite important than people perceive them to be. Although the offered formats may vary from one bookmaker to the other, you should opt for bookmakers which are constantly trying to keep their regular punters engaged with them. In case your current bookmaker does not, it may be time to find another one which will!