Guarding Against Traps and Tricks
Bookmakers normally offer various kinds of bonuses to entice new punters and to encourage existing ones to continue betting. Although such bonuses are normally very achievable and attractive, there are certain online entities on bookmakers who may attempt restricting their payouts. They do this by imposing unrealistic requirements and stringent terms and conditions on such bonuses. However, you must carefully.
Go through all the terms and conditions
Whenever you avail a bonus from a sports book, you must ensure that you’ve gone through the terms and conditions. Several bonuses are marketed with enticing headlines, but the reality isn’t as appealing. Please remember that you’ll only have yourself to blame if you avoid going through these T & Cs and incur any loss as a result. We’ve witnessed various complaints related to absolutely fine bonus schemes, from people who failed to properly understand their requirements.
Terms and conditions associated with such bonuses
Whenever you sign up with a sports book, you normally find it offering two kinds of bonuses – a bonus amount/percentage added to the account or a free bet. A rollover requirement is the common thread between all such bonuses. This requirement is nothing but the number of times you must bet with the bookmaker in order to be able to withdraw the free bet or bonus amount.
For instance, a bookmaker may offer 100% deposit bonus up to a maximum of £ 200 and place a 5 times rollover requirement. It implies that you’ll be granted a bonus of £ 200 after you make a £ 200 deposit, and will need to gamble at least £ 2000 (£ 400 x 5) to withdraw those funds. It’s a very reasonable scheme and you may find it at various online bookmakers. Any bookmaker not placing the rollover requirement stands to incur huge losses as people may simply sign up and walk out after withdrawing their bonus funds! Although such offers are very reasonable at most bookmakers, some of them may impose stringent terms and conditions on their withdrawal.
You must also remember that free bets aren’t actually as beneficial as they seem to be. To give you an example, an online bookmaker may offer a £ 30 free bet to you; now when you place an even money bet using that money you’d expect £ 60 in return if you do win. But, in reality, majority of these free bet winnings don’t include the stake amount. Hence, you’d be allowed only £ 30, and that too after meeting the play-through requirements.
Other traps and tricks employed by bookmakers
Stringent rollover requirements – Although rollover requirements may vary from bookmaker to bookmaker, most of them keep it at 5 times or less. However, it’s entirely up to the bookmaker and it may increase it to any extent. Hence, a bookmaker may even place a 50 times rollover requirement and you won’t be able to do anything! It means that you’d need to gamble at least £ 10,000 with that bookmaker before being able to withdraw the bonus funds.
Shorter time limits – Normally, all such bonuses have a time limit associated with them, with the majority of portals giving you anywhere from 1 to 3 months to complete the rollover requirements. However, it isn’t uncommon to find websites that make such durations pretty short, making it very tough for the punters to actually benefit from such bonuses.
High bet size – Some online bookmakers also attach a certain maximum bet size to the bonuses. It’s an amount which normally is a percentage of the bonus, for instance 30%. It implies that once you claim a £ 100 bonus, you’d not be able to place more than £ 30 bet with it at any given time. If you do, your bonus will be voided. Online and off-line sports betting world is full of stories of sports bettors who do particularly well in their betting endeavours, and inadvertently increase their stakes, tapping into their bonus amounts, and the bookmaker then not only voiding the bonus, but refusing any payout other than the initial deposit.
Minimum odds – Many online bookmakers also place restrictions on the odds availed with such bonuses. It’s quite reasonable too as punters may otherwise bet on almost certain outcomes and claim the bonus sums very easily, putting the bookmakers at a huge disadvantage. The results of bets placed at certain odds may differ from website to website. All reputable websites normally don’t allow any unreasonable bets to get used towards bonus clearances. Less reputable websites on the other hand may completely void your bonus earnings as well as any payout if you’re found indulging in unreasonable odds.
For betting purposes only – Some online bookmakers place a condition that bonuses can be availed for betting purposes only, implying that even though the funds may be added to your account, you’ll not be allowed to withdraw them. The bonus may actually not have any meaning in that scenario, and can’t be termed as a bonus at all!