Nowadays, many sportsbooks are giving to their customer’s a wide range of bonuses and promotions to attract new players to register or to retain existing customers to stay and continue placing bets at their sites. The welcome bonus and and promotions are the win-win marketing strategy, as many bettors just love those free gifts, as with sports betting bonuses and promotions bettors get the opportunity to bet with free money and eventually win some profit.
Making the profit from sports betting bonuses isn’t an easy task, as these bonuses and promotions are coming with a strict set of rules. Because of that, every bettor needs to understand the Terms and Conditions so that he can intelligently use such bonuses.
One of the most common mistakes that novice bettors do when they take the bonus is that they never take a look at the T&Cs section, and after several decent bets they get frustrated because they can withdraw their winnings, or even worse, they see that they failed to activate the specific bonus. You must understand that sportsbook’s primary goal is to make a profit, so they don’t give free money for nothing. They have rules for each bonus, and usually, these rules are strict, and you need to fulfill all of them in order to get money to your real money account.
In this article, we will outline some of the most important sportsbooks bonus rules that are situated at the terms and conditions segment of every bonus offer.
So, sit back and enjoy the read.
You Can Claim The Welcome Bonus Only Once
There are several different types of bonuses and promotions, but most of them have the same trigger – new user registration, or first deposit upon registration. The most popular type of bonuses is without any doubt deposit bonus. This type of bonus sportsbooks gives to their players upon the registration and first deposit.
If you got your eyes on a welcome bonus at some sportsbook, bear in mind that you can claim it only when you make your first deposit. So, if you already deposited funds in that specific sportsbook, you will not be eligible for the welcome bonus. Because of that, it is essential to make sure when you open a new account at the sportsbook and make your first deposit, to ask for the welcome bonus.
Do not Open More Than One Account at Same Sportsbook!
If you already opened an account at the specific sportsbook, and for example, your wife wants to open the new account at the same sportsbook, she will not be eligible for the welcome bonus. The sportsbooks have strict rules one welcome bonus per household or IP address. The reason why sportsbooks do that is to prevent fraudulent behavior, such as opening multiple accounts to abuse the bonuses and promotions.
Also, you should be aware that every sportsbook in the world has fraud department which examines your wager history and your general behavior when placing wagers, and they will easily spot any forbidden activity such as Arbitrage betting or Matched betting
Can you Claim the Bonus at Sportsbook and is Your Preferred Deposit Method Eligible for Bonus?
Two essential rules that many bettors overlook sometimes. Due to certain legal restrictions, some sportsbooks do not give bonuses to players from specific locations or states. You will be able to register, but you won’t be able to claim a welcome bonus, and you can’t do anything about that. Those sportsbooks are basically useless for bettors, and to avoid these situations, we suggest you check general Terms and Conditions and see if the players from your country are eligible to claim the welcome bonus.
Another thing you should be aware of is that not all available deposit methods are allowed for bonuses. Some sportsbooks restrict Skrill and Neteller as available deposit methods for bonuses. In such cases, you need to be careful not to make the deposit via these two deposit methods. In order to avoid this situation, again you need to carefully read Terms and Conditions of every single bonus or promotion offer.
The Minimum Deposit Amount Required and A Maximum Bonus Amount Condition
These two conditions are important, but sometimes bettors overlook them. The minimum amount that you can deposit on your account and the minimum amount that you should deposit to get a bonus aren’t two same things. Sportsbooks are asking for a minimum amount to qualify for the bonus, and those amounts can vary (usually around $10). Although we suppose that you wouldn’t deposit any less, it is always smart to check the minimum amount in order to avoid an unpleasant surprise.
Another thing you should always check is what is the maximum amount of money that you can get from one bonus. The sportsbooks always set the upper limit of what they are willing to give to their customers. For example, if the bonus offer is 100% on your first deposit up to $300, it means that the maximum amount that you can get from the specific bonus is $300 if you deposit the same amount. If you deposit more than $300, you will still get just $300 in bonus money. But, if you deposit less, for example, $200, you will get 100% on that deposit amount ($200).
As you may see, these two bonus rules are one of the most important rules when it comes to bonuses and promotions. Reading the Terms and Conditions of every specific bonus and promotion will help you understand how much you need to deposit, and how much you can eventually get from a specific bonus.
The Wagering Requirements
The wagering (rollover) requirements are maybe the most frustrating bonus rule to many bettors. But, have no worries, we are here to explain wagering requirements to you, as those requirements aren’t so complicated after all.
It is quite simple. When a sportsbook gives to their customers a bonus, they can’t withdraw those funds until they meet wagering requirements.
Example of wagering requirements:
Bonus funds must be wagered 20 times (20x) before bettor can withdraw them
In this example, if bettor gets $100 of bonus money, he needs to wager that specific amount 20 times before he is eligible to transfer it to real money account ($100 * 20 = $2.000.)
The wagering requirement part of the bonus is a vital part of every bonus. Bettor always needs to be aware of the wagering requirements before he claims the bonus, as every player needs to know what he needs to do before his bonus money is free for withdrawal.
Making a profit from bonuses and promotions isn’t an easy task, but if you put a bit of additional effort, there is no question that you will be able to earn some cash. Reading full Terms and Conditions can be a bit boring sometimes, but it is a must for your sports betting success.
Although most of the sportsbooks give their newly registered customers the welcome bonus, there are several brands that have no active promotions in that sector. Some sportsbooks clearly think that they have extraordinary service and that they don’t need to give a welcome bonus or any other promotion to their customers. Most popular sportsbooks that have no welcome bonus package are Pinnacle and Marathonbet.
No deposit bonus is the type of bonus that sportsbooks give to their customers rarely, and this type is considered to be one of the best types of sportsbook and online casino bonuses. In order to get this type of bonus you need just to register a new account at the specific sportsbook, and you will get the “no deposit bonus” credited on your account. No deposit bonuses are small bonuses, but they are very popular as they come with low wagering requirements, and bettors often manage to convert bonus money to real money.
The most important thing every bettor should do when it comes to bonuses and promotions is to read the Terms and Conditions of every specific bonus. There is a difference between General T&Cs and Bonus T&Cs. Bonus Terms and Conditions explain to the bettor what are the wagering requirements, and what he needs to do before his bonus money becomes eligible to be transferred to the real money account.