Sports Betting Bonuses
Online gambling tends to come with a range of additional options for players, including frequent player promotions, loyalty rewards and bonus offers. These are most prevalent in online casinos, where bonus offers of up to 500% can be found for making deposits of certain amounts.
However, they're not as frequently promoted when it comes to sports betting, although they do still exist. That being the case, players who enjoy placing wagers on various different sporting events rather than casino games, are able to enjoy the option of claiming an additional bonus as well.
What Kind of Betting Bonuses do Bookmakers Offer?
It's very common for platforms of any kind to offer a variety of different promotions. This usually begins with a welcome bonus for newly registered customers. Promotions of this kind in the sports betting world usually entail players making a deposit, placing a bet, and the bookmaker offering a percentage or equal amount on top as a free bet. The percentage offered, or the set amount of bonus funds offered varies from location to location. For example, take Betfair's new customer offer. The promotion is actually valid for utilising in the arcade section of their platform, providing you with an amount of €10 to play on the games there.
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In addition to the newcomer offers, many sports betting platforms also provide sport-specific offers as well. These are generally provided on the most popular games, such as football, horse racing, greyhound racing and tennis, with other extra promotions sometimes catering to the collective of remaining sports. The offers included are varied in style, with the aforementioned Bet365 providing risk free bets if you back a winning greyhound at 2/1.
Do They Need to be Wagered to be Paid Out?
It's a fairly regular question when it comes to bonuses that are offered at gaming sites. After all, each platform has its own policies relating to the promotions they have available. It's generally always a given rule that before being able to withdraw any kind of bonus, it needs to be wagered a certain amount of times, sometimes alongside the deposit amount.
This is the case at Bet365, where the welcome offer has terms and conditions stating that bets to the value of three times the qualifying deposit and bonus need to be settled before a withdrawal can be made. This turnover must be completed within 90 days.
Alternate to that, Betfair's welcome arcade promotion must be wagered once on a small selection of games before a withdrawal is able to be processed.
Advantages and Disadvantages of Taking a Sports Betting Bonus
It's fairly obvious to note that an advantage of taking such an offer at a sports betting platform will be the fact that it increases your balance. The more funds you have, the more wagers you're able to place on the various different events.
This can, of course, be spread out over a wider selection of games than you may have originally been intending to play. Alternatively, offers such as the previously discussed Betfair option will allow you to take advantage of participating in a few arcade game rounds, which can be done while you're waiting for the results of one of the sporting events you've wagered on.
However, there are also disadvantages to taking a bonus as well, with the first being the aforementioned wagering requirements. While these aren't as drastic as what you might find in some online casinos, they are still there. Many people choose against receiving a bonus for this very reason.
Not only that, but in a lot of cases, there's also a time period in which the bonus funds must be claimed and/or used. For example, the Bet365 welcome offer needs to be claimed within seven days of making your qualifying deposit, and if the turnover hasn't been completed within 90 days, your bonus funds become null and void.