Everyday more betting websites join the numerous ones that already exist. Due to this stiff competition, each bookmaker tries to offer unique promotions to gain more customers and keep the ones they already have. These rewards come in many forms, but the purpose of all them is to allow punters wager for less or get the chance to increase their bankrolls. In this article, we are going to list the common types of bonuses, certain conditions or restrictions that come with them, and how to make good use of these rewards.
Types of Betting Bonuses
As stated earlier, bookmakers offer incentives in many forms and it is important to know the type of reward you are being offered before you claim it. Below are the most common types of rewards you are likely to get offered on a bookmaker website. For example, 360bet feature a number of different sports betting bonus offers and related promotions.
Welcome Bonuses
A lot of bookie websites have rewards in place for their new customers. These bonuses are offered after registration has been completed and you have the option of claiming or declining them. A welcome bonus is typically a percentage of your initial deposit and this percentage is what is used to promote such a bonus. To claim this bonus, you have to simply register with the bookmaker and make the minimum amount eligible or the reward or anything above. Watch out for other conditions which include validity period, maximum withdrawal limit and payment methods allow. A good deposit bonus is a good way to start with an online bookie and we recommend punters take advantage of them.
Free Bets
These types of bonuses come with a minimum deposit limit which you are required to make before you are eligible for it. A typical free bet is presented like this: Bet ₦500 and get 10 free bets. In essence, the free bet doesn’t mean you can wager for free, it only means you will be refunded your initial stake if you lose such wager. The same applies if you win such bet since your original stake will be added to your winnings. Free bets usually come with a validity period and you are required to use it before the expiry date or it will be forfeited.
Each bookie has its requirement needed to claim its free bets offer. In most cases, free bets are offered as part of a loyalty program or periodical promotion. A maximum withdrawal limit usually comes with this type of reward, so when you win above this limit, you will not be allowed to cash out.
Match Stake Bonuses
Basically, a match stake bonus means the bookmaker matches the amount deposit with a certain percentage. This percentage will be indicated when promoting such an offer. Once you have made the required deposit, you will be given a certain percentage in bonus money. This bonus money cannot be withdrawn until you wager it. Also, a match deposit bonus comes with restrictions such as minimum deposit amount, maximum withdrawal amount, time validity and payment method conditions.
Other forms of restrictions bookies attach to rewards include the minimum odds rewards offered can be used on, certain sports or competition the free bet or bonus money can be wagered on, and eligible events valid during the wagering process. All these conditions will be included in the bonus terms and requirement which we recommend players read before they claim any bonus.