Betting bonuses are essentially promotional offers that sportsbooks commonly use to attract new customers or retain existing ones. While these offers can be in the form of free bets, there are many different types of bonuses you may see across various sportsbook sites. Therefore, understanding what each type means will help you find the best betting offers based on your own preferences.
Signup bonuses, or welcome bonuses, are perhaps the most common ones you will see and they are exactly what the name suggests. Typically, you will be offered a percentage bonus when you first open your account. This means that the betting site will add a certain percentage of their money from the amount you decide to deposit (these are usually 50% or 100% of your deposit).
In other cases, you will be offered a signup cash bonus, which will be a fixed, and therefore smaller, amount. These bonuses are there not only to attract new customers but also to encourage larger initial deposits upon signup.
Zero Deposit Bonuses
Opposite to the previous type, some sportsbooks will offer a no deposit betting bonus when you first open your account, meaning that you will get free cash with no need to deposit your own money in. This type is especially popular during big sports tournaments and major events, as a way to let new bettors try the site out before risking their own money.
While the no-risk aspect is very attractive to new users, keep in mind that these bonuses tend to come with wagering requirements and higher rates of rollover.
These are other commonly used promotional offers to retain existing users. Loyalty bonuses will typically be acquired through points when placing bets. Once there is a certain amount of points in their account, the user is able to withdraw the bonus in the form of free bets, cash or other types of benefits.
Losses are inevitable on betting sites and so to avoid discouraging and even losing their customers for good, some online sportsbooks will offer bonuses on losses. These will usually be a certain percentage of the loss on your wager. While it will likely be a small percentage, these bonuses do a good job keeping their customers motivated and coming back for more.
Match Play Bonuses
Match play bonuses work somewhat similarly to coupons – they are offered based on specific events and can only be used once. This bonus type usually has certain rollover requirements that have to be met in order to be offered the bonus. Once you do, the bonus will simply be deposited into your account.
High Roller Bonuses
High roller bonuses are aimed at players who are able to deposit high amounts of money into their account and make large bets. It will usually be a percentage bonus – for example, certain sportsbooks may offer bonuses up to 50% of your bankroll. These can therefore make up substantial amounts of money (e.g. 50% on a £1,000 deposit will give you a whopping £500 bonus), so many high rollers will look out for these offers.