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Understanding The Different Types of Welcome Bonuses at Online Sportsbooks

Understanding The Different Types of Welcome Bonuses at Online Sportsbooks

Welcome bonuses are now an integral part of an online sportsbook’s marketing strategy. As the North American sports betting scene continues to gather momentum, with more US states and Canadian provinces taking the plunge to regulate and license firms in their respective regions, the competition is sure to hot up between the leading sportsbooks. If the UK’s licensed sports betting marketplace is anything to go by, it’s only going to get warmer. Across the Atlantic, there are now dozens of brands competing for the custom of British bettors. They do so by utilizing one of sign up offers such as free bets that act as a “thank you” to users for pledging their allegiances.

If you like the idea of wagering on your favorite sports teams and leagues, it’s a good idea to familiarize yourself with the various welcome bonuses up for grabs. This will help you to extract maximum value from any sign-up offer you opt for.

Free Bets

Free wagers are the staple of welcome bonuses in the online sports betting scene. They are usually credited immediately upon creating a new sportsbook account. You’ll need to have verified and validated your account. This usually requires government-issued photo ID to be accepted and even a copy of a bank statement or utility bill to act as proof of address. These free bets will usually have an expiry date, which will be visible in your account. They may also have minimum odds attached. For instance, they may not allow you to bet on odds lower than -110. This is to prevent you from betting on sure-fire winners at odds of -10000.

Understanding The Different Types of Welcome Bonuses at Online Sportsbooks

Deposit Match Bonus

If you are willing to make a real-money deposit of your own, it’s possible to take full advantage of the best deposit match bonuses. Some online sportsbooks will commit to match 100% of the value of your first deposit, up to a maximum deposit figure. This can be anything from $200 to $1,000, which is neat. You’re effectively doubling the size of your betting bankroll. Just be mindful of the wagering requirements attached to the bonus funds.

No-Deposit Bonus

Ideal for low-rollers in sports betting terms, no-deposit bonuses give you bonus funds without having to commit to a real-money deposit upfront. They differ to free bets as no-deposit bonus funds usually have more stringent wagering requirements attached. That’s unlike free bets which can often be wagered once, with any potential winnings converted immediately into withdrawable cash.

Risk-Free Bets

If you consider yourself a high-roller, risk-free bets are ideal for well-bankrolled sports betting newbies. The first real-money wager you place is “risk-free”. This means that if your bet is a losing one your stake will be refunded in free bet credits, giving you another bite at the cherry. Some sportsbooks have been known to offer risk-free bets worth up to $1,500 or even $2,000.

Welcome bonuses are a useful addition to your online sports betting arsenal, giving you more bang for your buck in your quest for value odds.

 

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