Sports betting offers – How do they work?
Bookmakers offer their best online betting promotions to conquer and build customer loyalty. With a policy increasingly oriented to punters, sports betting sites compete fiercely. However, as a player, you have to be careful not to get carried away by the size of these offers, since they are not always so easy to obtain. Below we will tell you the secret about the best online betting offers. Let’s go directly into the matter with the most famous of these: the welcome bonus.
What is the Welcome Bonus?
As the name implies, the welcome or registration bonus is specifically for new punters. Therefore, when you are new to an operator, they will offer you a welcome bonus as soon as you open your account.
“First bet without cost!” Is usually the phrase found in sports betting to refer to the welcome bonus. As you can see, sports betting will refund your first bet in case of loss. But that is not the only possibility, some operators offer to double your first deposit for being a new player, others will offer you free bets. However, it must be taken into account that these offers are subject to specific conditions that must be met before obtaining them.
How to get a welcome bonus at a sports betting site?
It is not always easy to make use of these welcome offers, especially when one is a beginner. First, you have to keep in mind that bonuses are not cashed in the same way as a regular bet. Let’s talk about the offer of the first bet at no cost. In general, sports betting houses offer a refund of 100% of the value of the bet, however, in this promotion a refund limit is specified, in addition, the first condition to benefit from this offer is that the bet in question is loser If by chance it is a winning bet, then there will be no bonus, although you will get the winnings of that bet.
For example, an operator offers a 100% refund within the limit of 50,000 pesos. If you bet 20,000 pesos on your first bet and lose, you will be reimbursed the bonus amount, or 20,000 pesos, for a new bet. It will be the same for a lost bet of 40,000 pesos where the refund will be 40,000 pesos. But when you bet an amount equal to or greater than 50,000 pesos, the refund will not exceed this value. Why? Simply because the maximum threshold was 50,000 pesos. Therefore, even if you lose more than 50,000 pesos, the amount reimbursed will not be higher.
Let’s move on to the second possibility of the welcome offer: increase of the first deposit. In this case, when you make your first deposit, the bookmaker will grant you an additional credit, equal in value to your first deposit. But, to collect this bonus, you will have to bet the amount offered, several times. Take an example of another operator that offers 100% of the first deposit within the limit of 100,000 pesos. To withdraw the amount equivalent to the amount of the bonus, you must bet it 3 times. Assuming you have a deposit bonus of 40,000 pesos, you must bet 40,000 pesos * 3, or a total of 120,000 pesos to withdraw the money.
However, the bonus will not wait for you indefinitely. In fact, bookmakers give you a specific deadline to unlock them. In some cases, it is 60 days and in others, 90. Some bookmakers cancel both the unlocked amount and the remaining amount to be unlocked once the term expires. Others are more forgiving and will let you keep the part of the bonus you already unlocked. Do not be surprised by these maneuvers, it is very important to read the general terms and conditions of each online betting offer before starting.