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One of the perks of online sports betting players is having an account with a site that offers a wide range of betting bonuses. Today, the online betting industry has become a competitive business and bookmakers thrive to offer different types of betting bonuses to try and persuade new customers to sign up and keep the existing customers as well. Sportsbooks believe that by offering betting bonuses, it brings you to the site and makes you spend money with them.

What Are Betting Bonuses?

Betting bonuses are fixed amounts that a bookmaker adds to the customers account after their first deposits. It simply means the bookmaker gives you an advantage to place more money in your first bet without risking your own money.

Sports betting bonuses may come in different forms and they also vary from different sportsbooks. Here are the most common sports betting bonuses frequently offered by online bookmakers.
  • It is possibly the most popular sports betting bonus from online bookmakers, sometimes called (match deposit). Deposit bonus is a bonus that requires the customer to make an initial deposit after the registration process is completed in order to claim your bonus in form of a bonus bet. A deposit bonus can range from 25% up to 100% and more to some bookies Foristance, your bookmaker offers a 100% deposit bonus so if you have deposited Tsh 10,000 you are going to get a deposit bonus of Tsh 10,000.

  • Popular type offered to new customers where a bookmaker offers you a free stake to place a bet with. It normally comes with betting requirements which may include betting on any winnings you made out of a free bet a number of times before you are able to claim them. The most common condition used on free bets is betting on the minimum odd set by the bookmaker. Example: You were offered a free bet worth Tsh 10,000 after registering as a new customer Minimum Free bet odd is 2.0 on a football match Your bet wins: Tsh 10,000 at odds of 2.0 = 20,000 minus the original stake Tsh (10,000) You win Tsh 10,000

  • A risk free bet is a type of free bet where a bookmaker pledges to refund your stake (if it loses) up to a certain limit. However, the player may be subjected to certain requirements before you are able to withdraw your winnings incase of a successful bet.

  • A no deposit bonus simply means free money. Newly registered customers are given free bets without having to deposit anything on their accounts. No deposit bonuses are relatively low and just like the other bonuses, you may be required to meet certain conditions to get a hand on your winnings.

  • Reload bonuses are slightly identical to the deposit bonuses but with two exceptions: They are usually for existing customers instead of new customers and they are not quite higher than deposit bonuses (not completely 100%)

Why Do Sportsbooks Offer Betting Bonuses?

Most players might be wondering why do sportsbooks give away free money and other free stuff and it may seem too good to be true but in one way or another sportsbooks do have good and honest reasons to why offer bonus to their customers. The following are the main three reason:

  • To attract new customers

For example the welcome bonus is to attract you to first join the sportsbook, you will make a deposit because you know you are going to double your wallet. After that you might be offered free bets that will give you another chance to make additional bets and in the end you feel safe because you have nothing to lose.

  • To bring back dormant customers

Sportsbooks may sometimes use betting bonuses to bring back customers that haven’t visited the site for a while. For example they can use a reload bonus to get a player to make another deposit and refresh their drained accounts.

  • To keep existing customers

Here, sportsbooks usually offer their existing customer bonuses like cashbacks, having loyalty programs to their most loyal and regular customers, something to keep them on the site.

As we all know, nothing comes for free. This also applies to most online sports betting bonuses where for any given offer there must be certain terms and conditions required. Below is a list of the basic requirements to consider before using sports betting bonuses.
  • Most players are more likely to go for bonuses with higher amounts but it is also good to remember the higher the figure the harder the terms and conditions are going to be set by the bookmaker.

  • The majority of online sports betting bonuses are given with specific betting requirements. A good example is the free bet where players are given a free stake value and they are required to play in full, and incase of any winnings there are also certain rules before being able to withdraw.

  • Odds restriction is mostly used on the free bet bonus offers where players can only be eligible to fulfill the betting requirements by making a bet with the minimum odds set by the bookmaker.

  • Online sports betting bonuses often comes with a validity period in which players are only able to use such bonuses with a specific period which means players have a limited time to take advantage of the bonuses offered.

  • You may find it in some bookmakers that certain bonuses will require a player to enter a bonus code. Example a free bet or a welcome bonus are usually provided with a bonus code that you after your initial deposit or after you have made some additional deposits. Recently, bonus codes are not frequently used by online sportsbooks, especially the new betting sites.

Mobile & Betting Apps Bonus Offers

Some bookmakers tend to have different types of bonuses to players who have registered their betting accounts via mobile devices. This is usually done to specifically attract players betting through their mobile phone, giving better promotions and so the players can use this advantage.

What is the Best Betting Bonus?

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This has been a commonly asked question to so many players but sadly we do not have a definitive answer. All we can say is the best betting bonus is the one that appears valuable to you, the one that fits your betting style as an individual player. For example if your betting style is a single selection type, then the risk free bets is the best choice for you but if you’re an accumulator player, you might want to go for the deposit matched bonuses. Additionally, the best betting bonus is the one that you as a player can fit to all its betting requirements.

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What is the Difference Between Betting Bonuses and Free Bets?

There might be a slight difference between a betting bonus and a free bet but their main similarity is that they are both awarded since the bookmaker is giving a player a fixed sum of money to use on their sportsbook. The difference goes down as follows:Download bet365.

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With a betting bonus, a player is pretty much free to use the credit how they want for example; you are given a betting bonus of Tsh 100,000, here you may decide to play it all at once or make different bets let’s say 2 different bets with stake of Tsh 50,000 each or place four coupons with Tsh 25,000 each. Now with a free bet, most bookies will give you a single free bet token or a number of tokens that will be equal to the total bonus amount.

The Overall

Betting bonuses are fun to accept and use because they do give players numerous advantages and options when placing bets but we strongly advise you to never accept any bonus without fully understanding the terms and conditions, what it really takes to earn the bonus at the end of the day. Some sportsbooks may put strict rules on the bonus terms and conditions and find yourself forever stuck with a site trying to rollover the bonus amount without being able to enjoy your winnings.

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  • Sportsbooks usually set the minimum and maximum odds limit because they are trying to avoid the situation of them just giving free money so there has to be betting requirements that will balance their exposure.

  • This can be for two reasons, some betting companies gives out bonuses to some specific events, for example the World Cup, for this reason an expiration date must be set since it was only meant to be valid during the World Cup period. Another reason may be betting companies do not want players to hold off on the bonuses until some appealing events comes up and use the free bets. The idea is for players to use the bonuses and immediately start spending their real cash.

  • No, apparently not all betting companies offer bonuses however the vast majority of online betting sites offer a bonus of some type. Some may not directly put it as a betting bonus but instead they can come in the form of enhanced odds or favorable lines.