Why Should You Look For Betting Bonuses?
In simple terms, bonuses provide extra value to customers.
There is a reason that almost all sports betting sites offer them and that is because bettors value them.
With regards to welcome bonuses, if you plan on joining a site, making a deposit and placing some bets, it makes sense to join one that gives you something back in return.
In some cases, first deposits are matched 100% meaning a ₹100 deposit will actually deliver ₹200 worth of bets.
This is also true of ongoing bonuses.
They are designed to give extra value to customers, as well as rewarding bettors and encouraging loyalty.
If you are planning on betting on an upcoming event, it is always worth checking out the promotion page of the website.
They may have a current deposit offer giving a % back in free bets, some free casino spins or entry into a loyalty club.
Bonuses are worth taking because they provide additional value to bettors and make deposits go further.
Make sure you check the full terms and conditions of any offer before taking it though, to make sure you understand the requirements.
Rollover requirements refer to the number of times you have to wager a bonus amount before you can claim any winnings.
To make this clearer, let’s look at some figures.
If you deposit ₹50 and receive a 100% matched bonus then you will actually have ₹100 to bet with.
However, sports betting sites will not just give you this additional ₹50 for free, otherwise you could just withdraw the money and leave.
Therefore, a rollover requirement is in place to ensure that the ₹50 bonus you received is used on the site and it usually needs to be used multiple times before you can claim the profit.
A 5x multiplier would mean that the ₹50 bonus must be wagered five times (₹250) before you can claim any of the winnings.
This is standard practice at all sports betting sites.
What it does mean is that you will either bust on the bonus funds before wagering ₹250, but it hasn’t cost you anything, or after wagering ₹250 you can withdraw your profits.
How To Claim A Betting Bonus
Claiming a betting bonus is incredibly simple.
Usually if you’re signing up to a site for the first time, the welcome bonus will be very apparent on the home page.
You will either click on ‘Join Now’ and select the welcome bonus during registration or you will be given a welcome promo code to add while registering.
If you want to claim an ongoing bonus, the best place to go is the promotions page, where the current bonus offers will all be listed.
Either click into the offer you want to select and it will take you through to the cashier, or make a note of the specific promo code and enter this in when making your deposit.
Types Of Bonuses
There are many types of bonuses on offer to sports bettors.
We will run through a few of the most popular promotions to give you a quick summary.
Risk Free Bets
A risk-free bet is where the bookie offers you a free bet, but only if your initial wager loses.
For example, you place a bet on a team to win and they lose, you are then given a risk-free bet to place on another market.
If the risk-free bet wins, then you will receive the winnings but not the original stake.
There are no negatives to this promotion.
If your initial bet wins, you win, if your initial bet loses, you get a risk-free bet at no extra cost to you.
Sign-Up Bonus Offers
Welcome bonuses are the most competitive bonus type between sports betting sites.
Bookies are competing for your business and try to outdo each other by providing the most value.
The majority of sign-up offers provide some kind of match for your first deposit up to a certain value and it pays to look around for the best offer.
Just remember that it usually only applies to your single first deposit and they all have rollover requirements, so choose the one most suited to you.
Matched Deposit Bonus Offers
Matched deposit bonuses basically make your deposits go further.
They can be offered as a welcome offer or as an ongoing bonus.
Examples of these include ‘Deposit and bet ₹25 and receive a ₹5 free bet’ or ‘Deposit ₹25 and receive 50% back in free bets’.
They are, in basic terms, free bet offers and are worth taking, but always check the T&Cs to make sure there are not any specific betting restrictions you need to follow.
Boosted Odds Bonus Offers
Boosted odds are used by sports betting sites to attract customers in.
They are often offered late – usually on the day of the event – on selected markets and boost the odds in the bettor’s favour.
For the customer this is a bonus, especially if you were going to place a bet at 2/1 and it’s now 4/1 instead.
Just watch out for lower maximum bet limits that are sometimes put in place to offset the sportsbook’s risk on these offers.
Reload Bonus Schemes
Reload bonuses are simply any bonus offer on any deposit except your first one.
Your first deposit qualifies for the sign-up offer, then any subsequent offers you receive on further deposits are reload bonuses.
Some betting offers don’t come with a sports betting bonus but a casino one instead.
An example of this can be ‘Bet ₹20 and receive 20 free (slots) spins’.
If you were already planning on betting ₹20 and enjoy the casino, then it’s worth taking as you may hit something on the casino spins.
However, if you are taking the offer just for the free spins then there is no guarantee that you’ll make the ₹20 back.
Just be aware that the free spins are often at the lowest value (₹0.10).
No Deposit Bonuses
No deposit bonuses usually only apply to welcome bonuses as sites compete for your custom.
All you need to do is register and the sportsbook/casino will deposit a set amount into your bonus funds account to bet or play with.
There is no deposit needed and therefore no risk to the customer.
There can often be a catch though, which is the rollover requirements tend to be much higher.
Free Play Bonus vs. Cash Bonus
Both free play bonuses and cash bonuses can be offered by sportsbooks to customers to encourage them to register.
In effect, these are both the same thing – extra money for customers to bet or play with – but they do differ.
Free Play bonuses tend to be more common, more valuable and have smaller rollover requirements.
Cash bonuses are worth taking but are very rare and usually have significant rollover requirements, which make it harder to make any profit.
Betting Bonus Terms & Conditions
It is essential that you read the full terms and conditions of any bonus before you take it.
Sports betting sites are always going to push the positives and promote the big headlines, but the small print is just as important when assessing whether a bonus is worth taking or not.
Terms and conditions to look out for include:
- High rollover requirements – Some can be as high as 40x, meaning that even with a small ₹10 bonus, ₹400 would have to be wagered before winnings can be made.
- Betting restrictions – In some cases, the offer only applies to certain bets e.g. accumulators with 4 legs with odds of 1.4 or higher, so be sure to check this out.
- Expiry – Some offers have short expiry dates, or free bets only apply to one specific match or event, meaning you can lose out if you are not careful.