When signing up for an online sportsbook, you will find a range of free offers available. The volume can often be confusing for newcomers. In the following text, we help readers understand the selection on offer.
Are you ready to make your first bet online? The choice of online sportsbooks, and the bonuses they offer, can be overwhelming. This can make it extremely hard to decide which is the right provider for you. In the following article, we break down the betting bonuses and help you get the service best for your needs.
Welcome Bonus
Operators will use bonuses to keep people making bets, to get them to try out new offers, and to lure them back to the platform. However, the most common is the welcome bonus which is designed to attract new bettors.
Very often, it will take the form of a range of bonuses bundled together. For example, it may include matched deposits and free spins. The Betway app provides one of the simplest to use, offering a straight £50 in bets as a welcome. Others can be more complex and some may even offer a choice, though this can muddy the waters somewhat.
To get the right welcome bonus, you need to decide what you want from an online sportsbook. Do you want to make bets, or are you hoping to take part in other activities like casino games or niche pursuits like bingo? Having an idea of how often you will be betting and how much you will deposit each time can also help.
Matched Bets and Deposits
A matched bet or deposit is simply an amount in funds that the operator will give you when you make a deposit. So if they say they will provide a matched bet of £30, this means that if you deposit £30 they will provide the same amount in credit, making £60 to place on sports.
Free Spins
Free spins are exactly what they say. They are attempts at slot games that do not require you to stake your funds. This means you can win without even having put money into the machine. Free spins are given as bonuses by operators, and they can also be won as prizes in many of the slot games themselves.
Free spins only matter if you plan to play casino games alongside your sports bets. In addition, you must also plan to play slot games as opposed to table games. If you have your heart set on sports betting on poker, they become inconsequential. Yet if you want to try a game or two, or are into slot games anyway, they can be a welcome addition.
Free Bets
Like free spins, they do exactly what they say. This is credit deposited into your account that can be used on wagers.
Terms and Conditions
Just as important as what is on offer are the terms and conditions attached to them. While you may have the greatest bonuses on earth, what is actually on offer may limit how and when you can use them.
Wagering Requirements
The most common factor to consider is the wagering requirement. This is an amount, usually a multiplier, that shows how many times you must work through a bonus before you can withdraw any winnings.
Imagine you have a £10 credit for free bets. The wagering requirement is x10, which means you need to spend £100 on betting before you can withdraw any initial winnings from the £10 credit. You may win £200 with your initial bet, but nothing can be removed until you have spent the £100 wagering requirement.
In some cases, wagering requirements may just be given as a fixed amount. As you bet you will see winnings stored in a pending balance until you manage to meet the wagering requirement and it is unlocked. While this may seem like it diminishes the power of free offers, if you are using the system regularly it does not matter. You would have probably bet the amount over time anyway. Its purpose is to stop people from visiting different casinos, claiming winnings from welcome bonuses, and then leaving them.
Limitations on Sports and Game Types
You may also find limitations on sport and game types. For example, when you are given free bets check the terms and conditions. Many are limited to the most popular sports such as football, rugby, basketball, and others. It is unlikely you will be able to use them for niche betting like esports and current events such as elections.
This will be the same if you decide to accept free spins. Games will often be selected beforehand, so you can only play certain titles. You will also find they may also prevent access to the bonus rounds. This is where the largest amounts of money can be won. However, they still provide you with a way to play the game and get to know it before you start using your bankroll.
You just need to know what you want from a sportsbook. Once you have this, cross references the right offers with the terms and conditions. The most favorable ones will likely provide you with the only sportsbook you will ever need.
