Sportsbook Bonus

Five types of betting bonuses

Free bets and sportsbook bonuses are a great way to get ahead when betting. You might think that a sportsbook bonus is a sportsbook bonus. To that, we say, No! No! No! In fact, there are five different ways a bonus can be given to you. Each is working similar but still different. So before you start betting with your bonus read up about the five bonuses.

Match bonus

The Match bonus might be the most popular bonus the sportsbook give. In short, all you need to do is to open an account and place a bet. The bookie will credit the bonus after you have put the bet. The amount of the bonus? It will match the amount you have chosen to play. In other words, if you place a bet of $25 you get a $25 match bonus. A total bankroll of $50 to play with.

Fact: These kinds of bonuses just like all bonuses often have some requirements attached to them. First of all, there are almost always wagering requirement attached to all bonuses. Then it can be that you only can bet a certain amount of the bonus on one game. Another common restriction can be that you have to bet the bonus on an odds higher than 1,5 or even 2,0. But more about the terms and requirements later on. Let’s look at the free bets

Free Bet

A free bet is quite similar to the match bonus. But instead of receiving a lump sump they often are divided into several parts. To use the same example as above. Let’s say you deposit $25. Instead of getting a $25 match bonus you might receive five $5 free bets. The difference might seem subtle, in fact, it is, but it is still a different type of bonus.

Be aware! The free bets often come with a time restriction limit. This means that they have an expiry date and you will forfeit them if you don’t use them in time. If you receive a series of free bets, they might also have a restriction when it comes to playing them at the same time. The reason? Honestly, it is probably to have you come back to their site. Might not be so bad if you like the place. If not, remember there are a lot of fish in the sea!

Deposit bonus

A deposit bonus is the classical form of a betting bonus. If anyone has played on an online casino, they know the drill. It is a bonus that gives you a percent of the amount you deposit. Very similar to the match bonus but with one main difference. The match bonus gives you the bonus after you placed your first bet. The deposit bonus gives you the bonus when you deposit. In other words, before you place your bet.

A deposit bonus comes in many different forms. It can be a 100% bonus which means that your deposit will be doubled. 50% gives you half your deposit and 200% triples the amount you can play with. The benefit with the deposit bonus is that you can place your deposit and your bonus on the same game, same result at the same time.

Unfortunately, this type of bonuses has slowly been rooted out. Luckily for us, there are still some sites that offer these kinds of bonuses.

Winning your first bet

Another favorite bonus is a winning your first bet bonus. The bonus is quite self-explanatory. If you place a bet and win, you will receive a bonus. More often than not equal to the amount you have better. Some sites reward risk takers and give a larger bonus for people that bet on a higher odds.

Losing your first bet (Risk-free bet)

We have all been there, sometimes Lady Luck forgets about us. Losing a bet is never fun, but with a risk-free bet or a losing your bet bonus you don’t have to worry. Some betting sites will offer you a risk-free bet. This means that if you deposit and bet on a result and loose, you will get the amount you played back in the form of a bonus. Sure this is not as good as cash since it will have requirements attached to it (in most cases), however, it is better than nothing, right?

Betting bonus terms, conditions and restrictions

Let’s be honest, when we hear the words terms and conditions we all want to get to sleep. Why on earth do we need to talk about this, you might wonder. We do too! Then again it is more important than we think.

The great military strategist Sun Tzu is often credited of saying know your enemy. Might be a bit dramatic to use the word enemy to a betting bonus T&Cs but after all, it kind of is an enemy. No one wants to have restrictions on a bonus, but they are there. So let’s take advice from the ancient strategist and learn a thing or two. Who knows maybe that will help us become better players?

We can divide the terms and conditions and restrictions when it comes to bonuses in three categories. Each one can be used by itself, or all three can be used together by a sportsbook.

Wagering requirements

Most bonuses have a wagering requirement. The reason is that if they didn’t a lot of players would claim a bonus and withdraw it. We certainly would! But sportsbooks are not known of giving away something entirely for free.

A wagering requirement merely is the number of times you need to turn over either:

a) your bonus

b) your bonus and deposit

This can be anywhere between three times to ten times. As you can imagine two factors come into play here.

1. It is better if only the bonus (and not bonus and deposit) have the wagering requirement.
2. It is better for you the lower the wagering requirement it is.

Together with wagering requirements, two other types of terms often accompany a bonus.

Maximum amount

To make it a bit harder for you to wager your bonus, there might be a maximum amount you can bet on a particular game. This limit forces you to play on more games and can make it harder for you to wager the bonus. But more common than this rule is the next requirement, the minimum odds.

Minimum odds

We dare to say that almost all bonuses will have a minimum odds requirement. This forces you to bet on an odds higher than the stipulated one by the site. Often it is 1,5 but a lot of sites both use 1,75 and even 2,0. It does not take a genius to figure out that the lower the odds the ”easier” to win. The reason why sites use this tactic is that it might be to easy to wager a bonus betting on heavy favorites to a very low odds like 1,01.

How to make the most of your bonus

A lot of you wonder how to make the most of your bonus so here are some tips that you can use. They are based on the assumption that you want to wager and withdraw your deposits, winnings, and bonus.

- Claim a good bonus (more about that in the next section)

- Play on the lowest allowed odds

- Play on singles and not multiples

- If you are unsure on a game, don’t bet on it

What to look for in a betting bonus

One of the most important reasons we dragged you through the different types of terms and conditions earlier is that allows you to understand what to look for in a betting bonus. To understand and claim a good bonus it is crucial to know the requirements. When choosing among the bonuses look for one or more of the following.

- High percentage bonus - We prefer a 200% bonus over a 100% bonus

- Low wagering requirements

- A bonus where the wagering requirements only are attached to the bonus

- No maximum amount or at least a high amount

- Low minimum odds, we consider 1,5 as low, 1,75 medium and +2,0 high

Be warned: Some sites mix your deposit and bonus. This means that if you play and cancel your bonus, you might lose your winnings!

Betting bonus advantages

There are a lot of advantages with a betting bonus. We have listed the most apparent advantages in our list below.

- Bigger balance to play for

- A chance to win more using someone else cash

- Opportunity to try out a sportsbook

Disadvantages of bonuses

But as with all things in life, there are also some drawbacks. The disadvantages of a betting bonus are often that the bonus has lousy terms and conditions. They might have exceptionally high wagering requirements. In those cases, the bonus can be seen as a marketing trick to get you to play.

Remember: A good bonus is possible to wager and withdraw!

Summary

Congratulations you have made it to the end! In this guide, we have explored the five types of betting bonuses Nigerian players can claim. We have also taken a closer look and tried to make a boring topic a bit more fun. We are of course talking about the fine print, the terms, and conditions. The reason? To allow all of you readers to understand better what to look for in a bonus.

We don’t know about you, but all this talk about betting bonuses have made us want to claim one! We are ready, are you?

Good Luck!