Sports betting bonuses are a differentiating factor between traditional land-based and online betting. Bonuses allow players to gain more money, even though some conditions are attached to them. It’s worth noting that while all betting websites offer the basic types of bonuses such as welcome bonuses, some sites are better than others.
This guide will walk you through the various types of bonuses that you can expect from leading betting sites.
Types of Bonuses
One of the ways new betting websites attract or retain customers is by offering an assortment of sports bonuses. Having prior knowledge of them can help maximize your wins. Here are five common types of unique bonuses you can expect to find on the most reputable sites.
1. Wager Bonus
This type of sports bonus comes with a wager requirement for players to convert it into cash. Wager bonuses are of different kinds, including a signup bonus that is given after you make your first deposit, an Events bonus offered for special sports events and occasions, and many others.
Usually, players are required to bet a wager bonus a set number of times to win it. Bear in mind that the requirements will vary depending on the bookmaker.
Here’s a quick example. If you deposit $90 and get a 100% bonus for your deposit, you will have $180 in your wallet. Assuming the wager is x10, multiply 10 times 180 and get $1800. But to cash out your wager, you’ll need to place wagers in the amount of $1800. In this case, the wager requirements are tied to the whole amount.
2. Cashback
For this type of bonus, the website refunds you a percentage of the bets you lose over a certain period. It is usually offered weekly or monthly. For instance, the betting site can decide to offer a 10% cashback on your weekly losses of up to $100.
3. Freebet
Freebet is a universal bonus used during pre-match activities, live matches, or even single bets. Depending on the sites, you may be offered several types of free bets, including:
- No Risk – Players select an event or collect and express, then decide to use their bonus risk-free. They approve the bet, and if the bet wins, the players will get their win and the entire bonus is written off. If it’s a partial win, the player still gets their winnings with the bonus written off. But if they lose, the player gets only his betting amount, and the bonus is written off.
- AllWin – Players bet with money that isn’t shown in their wallet (you use the company’s funds). The player’s wins are deposited in their account if the bet wins. If they lose, they don’t lose anything.
- OnlyWin – The player bets with bonus money available to make a wager, but the cash isn’t deposited in their wallet. If the wafer wins, the money credited will be the difference between the winnings and the bet sum.
4. Loyalty/Rewards Program
Many betting sites have loyalty or VIP programs for their users. These allow players to collect points for every bet on the sites. You can later redeem these points for cash, bonuses, or other offers. For instance, a site may offer one point for every $20 bet, which you can convert into free bets or other rewards.
5. Referral Bonus
A referral bonus is given to players who refer friends to a particular website. The referrer and the referee may be offered a bonus once a new customer signs up and places a qualifying bet. For instance, some sites might say, “Refer a friend and get $10 bonus funds once they place their first bet.”
Find The Best Betting Platforms Worry-Free!
All betting sites offer unique bonuses to their customers. These often come with differing terms and conditions like wagering requirements, withdrawal rules, and even eligibility. Please always review and understand the benefits of any bonus before trying it.
Also, check out the websites listed on bettingwebsites.co.uk, as they have excellent bonuses, including offers that are exclusive to Betting Websites UK’s subscribers. That should enhance your betting experience. Also, bear in mind that betting is addictive, so don’t forget to play responsibly.