Each year, more and more online casinos and bookmakers pop up looking to get the attention of punters all round the world. The difficulty for betting companies is that they can’t compete on the product or service much – they’re offering odds on real-life events. It’s certainly true that some companies have better users interfaces, faster withdraws, and more betting markets – but one key way to compete is through betting offers and bonuses.
There are many different bonus types of online betting bonuses when signing up, so here is an overview of the main ones.
Free bets
Free bets are essentially a risk-free pop at a given wager with all the potnetial upside of winning, but no money of your own that you’re risking to lose. One key element of this is that because you’re not putting forward your own money, you don’t get the stake back. So, a $10 free bet for a bet that was evens odds (i.e. 1/1) would mean you get $10 back, not $20 like usual.
Welcome bonus
A welcome bonus is common online betting bonus to attract punters into choosing one bookies over another. A signup bonus is where the user signs up and deposits money, and some free money is matched. For example, depositing $30 means you receive $30 for free, or $15. Sometimes, you must have to bet this amount by a factor of X in order to be able to withdraw it. However, there are also no deposit bonuses, meaning purely a sign up is enough to receive some free cash.
Promotional odds
Promotional odds are a bonus in which the bookies offers a certain bet at supercharged odds. For example, a normal fair fight in the UFC would suddenly become 6/1 for one of them to win. This entices people to sign up and place some money, as there is great value for a given bet.
Loyalty bonus
Another bonus type is a loyalty bonus, which is given to customers once they’re already a regular user. This may come in the form of a free bet, cash, or other types of bonuses. These are a more rare but often overlooked bonus type, but they’re very enticing when received by your favourite bookmaker.
In fact, there’s also a high roller bonus which can sometimes fall under a similar category. However, high roller bonuses can also apply for new signups too. For example, depositing over $1000 could reward you in a 50% matching, so $500 in free bonus cash or free bets.
Bonus on loss
There are many, many forms a bonus can come in, but these are the most common ones. The final common bonus type is a bonus on loss, which is where the bookies offer a bonus as a percentage of the money lost on a recent bet. You often won’t even know about this before the bet was made, but it’s simply to keep morale high and to discourage you from leaving. As long as you’re aware of their tricks, there’s no reason why you cannot take advantage of them.
Please play responsibly. For more information and advice visit www.begambleaware.org
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