Understanding Sports Betting Bonuses

Sports betting bonuses are a kind of bonus designed specifically for sports bettors. They range in features and terms quite widely from one bookmaker to the next, but typically provide things such as free bets and improved odds. Users can utilise sports betting bonuses to explore new sports markets or simply improve bets on their old favourites. From experienced bettors to newcomers to the scene, the right sports betting bonus can make everyone’s experience better.

What are Sports Betting Bonuses?

A sports betting bonus is a type of promotion that offers sports bettors some kind of incentive to wager. These offers are usually, but not always, specific to mobile and computer betting rather than in-person bookmakers. They also tend to vary between sports. A football bonus might look different from a horse racing bonus, for example, with both bonuses crafted to appeal to specific kinds of bettors rather than a one-size-fits-all offer.

Sports betting bonuses are typically valid for new and existing bookmaker users rather than first-time registrants only. These bonuses are offered all year round but tend to increase in quantity and quality around the time of specific tournaments and events.

How to Claim Sports Betting Bonuses

Claiming sports bonuses is easy! Here are a few simple steps to follow.

First, you should register with a bookmaker. You might consider exploring a sportsbook’s bonuses before registering and funding a bettor account, but it’s always better to wait until you find the best bookmaker before you provide your personal information and confirm your identity.

Next, you should search for a valid promotion. Do this before you fund your account! Often, bonuses are valid only upon a user’s first deposit, so read through offer-specific terms and conditions carefully before moving forward.

After you have chosen your promotion, fund your account and opt in. Once you’ve found the right offer, read through the bonus details to see how you can claim the offer. You must opt in before you can claim a bonus, while other times it is automatically added to your account upon meeting the offer’s requirements.

All that’s left now is to fulfil the promotion’s requirements. This typically includes depositing a specific amount of money and other times making a certain kind of bet on a specific sport.

That’s it! From there, the bonus should be added to your account, and you can use it moving forward.

Types of Sports Betting Bonuses

There are several types of sports betting bonuses. The most popular are free bets, wager bonuses and cashback. Each kind of offer has its own benefits.

Free bets are an especially popular sports betting bonus. They allow players to bet on a team or sport of their choice for free and are typically subject to wagering requirements. This means that any winnings stemming from the free bet must be wagered through a certain number of times before they can be withdrawn. Let’s say that you bet $10 and win $20 and are using a bonus that requires all winnings to be wagered through 10x. You must wager $200 ($20 x 10) before you can cash out. Free bets are often capped at a specific amount, but not always.

Wager bonuses are a kind of sports betting bonus that offers users perks for wagering a certain amount or wagering on a specific sport or team. The specific perks offered vary from bonus to bonus, but frequently include free bets (described above) or a certain amount of cashback on lost bets (described below). Wager bonuses are often subject to wagering requirements.

Cashback sports betting bonuses typically revolve around losing bets. These are often included in wager bonuses, but are also offered as individual promotions. A cashback sports promotion offers players a certain amount of money in exchange for losing bets. Sometimes cashback is also offered in exchange for a deposit higher than a specific amount or for bets made during a specific period.

Key Terms and Conditions

Terms and conditions describe the requirements that users must meet to claim a bonus. They are often offer-specific, meaning that different promotions have different terms and conditions. Despite this variety, there are a few near-universal elements to consider when assessing offer details.

First, be on the lookout for wagering requirements! Wagering requirements, as described above, revolve around how many times users must wager a certain amount in a certain period of time before withdrawing the funds. Sometimes wagering requirements can be quite steep. In general, the lower the requirements, the better. By the time you get to 40x or 50x wagering requirements, you’re probably looking at more money than most people can spend in a relatively short timeframe.

Another element to keep in mind is bonus duration. Every offer has its own expiry period. It’s important to pay close attention to these dates as you won’t be able to enjoy the sports betting bonus once it has expired. Another specific aspect of this term is how long you have to fulfil the bonus requirements. Usually, you have just a few days to meet the wagering requirements, for example, while other times you’ll have a bit more breathing room.

Finally, look for maximum bet or win amounts and withdrawal limits. Some sports betting bonuses cap the amount of money that users can bet to a relatively low amount. Betting higher than the maximum sometimes makes you ineligible for the promotion, so it’s important to adhere to these guidelines. Similarly, look for information about capped win amounts. Some promotions limit the amount of money that players can withdraw to $100 or less, regardless of how much they actually win.

Pros and Cons of Sports Betting Bonuses

Sports betting bonuses come with their own unique set of pros and cons. They offer bettors several benefits, such as betting without putting their own money at risk, receiving money back after losing bets, and the chance to win real money. You should also know about some drawbacks that sports betting bonuses have, including high wagering requirements and win restrictions.