If you are inclined towards wagering on professional sports, you will be familiar with the concept of welcome bonuses and ongoing promotions.
Given that the internet is awash with different types of betting bonuses, knowing which ones are worth claiming is no easy task.
Whether you are considering the 888sport bonus from Best Betting Bonuses or simply looking for more information on betting sign up offers, it’s always a good idea to compare different options across the industry before making an informed decision.
One of the key questions many bettors ask is how can they tell if a betting bonus is actually worth claiming. Read on as unravel the mystery.
Deposit match vs free bets vs no-deposit bonuses
There are loads of different bonuses available. However, the most popular are as follows:
- Deposit match bonus: Many sportsbook operators offer this type of bonus. They match your deposit up to a pre-determined amount, giving you more funds to wager with.
- Free bets: These bonuses can take several forms. For example, when you place your first bet with a sportsbook, some operators will reward you with free bets to use on the site.
- No deposit bonuses: These take the form of a bonus bet which you receive after registration. You do not have to make a deposit or place a qualifying bet to receive this bonus.
Wagering requirements
Betting bonuses have wagering requirements attached to them that you must adhere to before you can cash out any winnings.
For example, let’s say you receive a £5 bonus with a wagering requirement of 10x. You must wager a minimum of £50 before you can withdraw.
Your bonus winnings will be transferred from your bonus balance to your main balance after the specified wagering requirements are met.
Some offers are only valid on specific sports or bet types, so it is imperative to read the terms and conditions before using your bonus.
Minimum odds requirements
If a bonus has a minimum odds requirement, this means that individual price for each leg of the wager must be no lower than that number.
For instance, a sportsbook operator may require a free bet wager to have minimum odds of 1.50. This minimum price applies across the wager.
If you place a single wager, the odds must be 1.50 or better. If you place a multiple wager, each leg must be 1.50 or better.
Time limits & expiry dates
Betting bonuses generally have a time limit on them. This is often 24 hours, seven days or one month. In simple terms, you must use the bonus before the expiry date or forfeit it.
Common mistakes that reduce the value of a bonus
There are several mistakes you should avoid to ensure you do not reduce the value of your bonus. The most common errors are as follows:
- Not understanding the terms & conditions: It is imperative to read the terms and conditions attached to any betting bonus. Failing to do so may result in losing winnings generated.
- Chasing losses: Much like wagering with your own money, you should avoid chasing losses with betting bonuses. Approach any wagering with a disciplined mindset for the best results.
- Unrealistic wagering requirements: If a betting bonus requires you to jump through hoops before unlocking any winnings, it is generally not worth the effort.
- Betting on sports you don’t understand: Do not use a betting bonus just for the sake of it. As with all betting, you should understand what you are wagering on.
The final word
Betting bonuses are undoubtedly a great way to increase your enjoyment of wagering on sports.
Sign-up bonuses, free bets and ongoing promotions can provide value to bettors, but only if you adhere to the terms and conditions attached to them.
If a bonus looks too good to be true, it is probably not worth taking advantage of. Using a reputable sportsbook is the best way to garner the best bonuses.
By using platforms such as Best Betting Bonuses, you can compare promotions to ensure you maximise the offers currently available.
Don’t be afraid to sign-up for bonuses across different sportsbooks, as this can significantly increase your bankroll if you use them wisely.
If a betting bonus has achievable wagering requirements attached to it along with a non-restrictive time limit, it will generally be worth claiming.
