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Types Of Bonuses And How To Choose Them
Ever since betting has become a thing, more and more people have delved into sports or casino games betting. And with more users in the betting space, many new betting sites, or bookies, as players like to call them, have surfaced. These bookies aim to make sure they retain their users and get new ones. They do this by giving out bonuses to their users.
Types Of Betting Bonuses
In this post, amidst the various bonuses that casinos love to give out, our focus is on the bonuses that most casino operators offer.
- Free Bets
- Sign-up Bonus
- No-Deposit Bonus
- Cashback Bonus
- Loyalty Bonus
Irrespective of the size or requirements of an offer, they all fall under the categories we listed above. Read on as we take a little time to explain each of them.
Free bets are free – just as the name implies. A casino operator grants existing users free bets to use on a number of game selections. In this type of bet, you do not need to add your real-time money, except if the agreement says otherwise. These free bets come with an amount added to them, and players use the free bet coupon to stake as high or as low as they can. Most times, the amount of the free bet stake is not returned with the wins.
Sign-up bonuses are also called welcome bonuses. Finding a Betting site with Welcome Bonus is usually easy because there is hardly any sportsbook that doesn’t offer this bonus. It is used to get new users to open an account with them and play games. Most times, it comes as a percentage of the first amount deposited into an account and goes as far as 200% or 500%.
What if you do not have to make real-time cash deposits before you can play bet games? These casinos are well aware of this need and offer this betting bonus in respect to that. A no-deposit bonus is offered to users to play bets on specific tournaments or leagues without making deposits. Your stake in games would come from the bonus you’ve been granted.
This type of betting bonus is great when players are relatively new to betting and are not well versed in how to make loss-free bets. With this, you can make your bets without worrying about losing your money. Plus, your wins are yours if you play according to the wager requirements.
For some sportsbooks, this bonus is called no-lose bets. The idea is generally the same. In betting on games, the wager sometimes doesn’t bring forth a win. Casinos would not want the loss to prevent their customers from placing more bets with them. Hence, they compensate the user for the loss. It could come as a set percentage of the amount used on the wagered loss. What this does is keep players interested in betting.
For a loyalty bonus, most bookies give it to users. What differentiates the bonus is the content. A loyalty bonus is only given to esteemed customers. These customers have stayed with the sportsbook for a long time and have continually placed bets with them. Most times, there are no set periods to receive a loyalty bonus, depending on the user. It could be cash, free bets, or any other type of bonus.
How To Choose the Best Bonus Offers
We know that some of these bonuses sound too good to be true but we rest assured that they exist. They help make more money than you would have otherwise. But what should you be on the lookout for when accepting these bonuses? How do you choose the best offers?
Wagering requirements generally come in two natures. First, some sportsbooks might require that you bet the total amount of bonus given all at once. Some might require you to bet both the bonus amount and the initial deposit. But all in all, you need to pay attention to the bonus agreement. It is always contained in the agreement.
Bonus Time Limit
Everything that has a free tag to its name comes to an end. In this same way, bonuses come to an end. Suppose it didn’t, the casino operators would run at a distinctive loss. Most times, these sportsbooks make sure that the bonus offers they give customers have a time limit. It could be a specific time frame of when the bonus would be over or the period to wager on specific games to get returns. In choosing the best offers, you want to focus on offers that come with a time frame that you can work with – a time frame that wouldn’t put pressure on you as the player.
Before you accept or reject any bonus offer, you want to make sure you check the minimum odds requirement of the bonus. Bookies give out these bonuses and clearly state the required odds for cash out. This falls between 1 and 2 odds most times. If you wager the bonus on odds lower than the required, it will not count.
These bonuses have been created for the players and it is a great decision to take advantage of them. All you have to do is to pick what suits you and take note of what the clause of the bonus agreement says to prevent you from running at a loss.