Bonuses are a sign of good gesture from bookmakers a thing which attracts many players. The stiff competition in the online gambling industry has made many bookmakers join the bonus bandwagon in an attempt to lure players to join them. However, the same bonuses have been associated with fraud, unrealistic terms, and many other sad stories from bettors who have used the bonus. However, this isn’t to mean that all bookmakers are in to the bad practice. At Bettingsites24 we have compiled to you the best sportsbooks with the best welcome bonuses. Here is a list of them
Types of sportsbook welcome bonuses
There are different types of welcome bonuses. The choice of a welcome bonus depends entirely on a player, but we recommended you to read the section below to help you analyze the bonuses better before you choose one. The following is a compilation of the most common welcome bonuses.
- Deposit bonus – this is the most common welcome bonus. Players are rewarded immediately they deposit money into their account. In as much as is common among many bookies, you should read the terms and conditions of the bonus before blindly accepting the bonus. Remember accepting it will be bound you to fulfill certain condition before being able to withdraw any winnings made from the bonus. Some of the common conditions are play within certain odd limits, meet a certain play through requirement, and use the bonus within a certain time frame and much more. The deposit bonus is pegged on the amount you deposit and there is a limit of the maximum bonus allowed.
- Free bet – This is another form of a welcome bonus. Once you sign up with a bookie and placed your first wager, you will get free betting credits that you can bet on certain markets. Free bets are mostly restricted to three way markets. Therefore, betting markets such as handicaps, over and both team to score are excluded by many bookies. Profits made from the free bets are allowed for immediate withdrawal without any play through requirement.
- Matched bets – Matched bets are risk free bets that only happen when you lose you first bet and becomes invalid if you win. Some online sportsbook will offer players a relief of losing their first bet with this type of bonus. However, because of the risk that the bookie faces because players may attempt to bet beyond their ordinary limits, the matches bonus are covered only to certain limits such as $10 or $25 depending on the bookie.
- Refer a friend – When you sign up to an online casino from a referral link of a player who is already a customer of a bookie, you get rewarded an amount the bookie advertise through its refer a friend program. The bonus is activated the moment you deposit and wager a certain amount. Thereafter, your referrer will receive the same bonus amount as you received. This bonus program has a limit as to the number of friends a player can invite.
What to consider before choosing a welcome bonus
Before you decide to choose a welcome bonus, it is important to consider some factors that we have outlined below. Understanding them will help you to make the right decision and avoid settling for a dishonest bookmaker.
- Wagering requirement – this is the most important aspect that you should consider before choosing an online bookmaker. It is advisable to go after an online sportsbook that has realistic play through requirement. While some bookmakers may advertise welcome bonus of up to $500, their catch is with the play through requirement which may be 50X. A 50X turn over requirement is unachievable by many players therefore leading you to a situation of blowing your account because of chasing the bonus.
- Deposit options – Bookmakers will sometimes restrict bonus to payment methods. It is common among many bookmakers to restrict bonus to players who made deposits using Skrill or Neteller. So before you lament of being locked out of a welcome bonus, go through the terms and conditions and find out if the method you deposited with is allowed for bonus.
- Markets & betting types – It is common for certain bonus types such as free bets to have limitation as to the type of bet you can place. With free bets most bookies restrict players to three way bets. Also, certain bonus applies to specific competitions. On the same, bookmakers may sometime lock out players from cash out because of using certain bonus or not allow player to bet on live matches using bonus. Therefore, it is important to understand such restrictions before subscribing to a bonus.
- Regulation – An online sportsbook may have all the favorable terms of a bonus as described above but still fail to pass the regulatory test. Dealing with unregulated bookmakers is the worst decision a player can make. You are not guaranteed the safety of your money, the safety of your personal information, the transparency of the sportsbook and fairness is at stake. Therefore, before anything else, first make sure the online sportsbook is regulated by a strict regulator then proceed with checking out the other details described above.
Frequently Asked questions
Yes, sportsbook bonuses are legit. However, exercise caution before subscribing. We recommend you go through the list of our vetted online bookmakers with the best bonuses.
No, you need to fulfill the conditions attached to your bonus for you to withdraw.
It is the number of times you need to multiply the bonus money for it to be come eligible for withdrawal. For instance if you received a $10 bonus and the play through is 5X, the bonus amount need to stand at $50 to qualify for withdrawal.
You will receive the bonus amount immediately you meet the requirement of the bonus. Most bookies have different tabs for the bonus money and real balance. Alternatively you can check under bonus page.