The Ultimate Guide to Sports Betting Bonuses
Sports betting is massive! It’s a global, multi-billion-dollar industry with thousands of online betting websites; each competing to attract gamblers and to get them to place bets through their sites. In order to attract gamblers to use their services, the Sportsbooks offer bonuses as an incentive. But, sports betting bonuses are not just to attract new customers; they are used as powerful loyalty and promotional marketing tools to keep you betting more often. Welcome to the Super Lenny Ultimate Guide to Sports Betting Bonuses. Here you will find a wealth of information, including the best online betting bonuses, how sports betting bonuses work, and the different types of sports betting bonuses. You will also learn how to claim a bonus, and even when you shouldn’t take up an offer. You will gain insights to ensure you play by the rules and even some strategies and tips to get the most out of a sports bonus. Most importantly, you will find a list of the most current and the best betting bonus codes out there. So, before you start placing your bets, check out our guide below – We BET you are going to love it!
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+18. The Sportsbook Welcome Offer is a £10 Money Back Offer on your first bet only, if it is settled as a loss. Minimum deposit is £20, deposits via Skrill (Moneybookers) or Neteller are excluded from this offer. When you place your first bet of £10, and use this Welcome Offer, the funds used to cover the stake is your money. If the £10 bet is settled as a loss, your funds used to cover the stake is returned directly to your account immediately. The £10 Money Back offer Free Bet can be used on any single selection, accumulators or in-play bets available in the Sportsbook. Winnings from your first bet is your money and without any wagering requirements. £10 Money Back offer is valid for a period of 7 days. T&C apply.
New customers only. Deposit £10 min and claim in ‘my offers' 1x100% mobile in-play profit boost. Max stake £10. Max extra winnings £100. Valid for 30 days. Skrill/Neteller deposits do not qualify. 18+ Full T&Cs apply www.begambleaware.org
How do Sports Betting Bonuses Work?
In the simplest form, a sports betting bonus is an offer by the sportsbook to provide you something extra for placing your wagers with them. Typically, it’s a monetary amount to increase your bankroll, but sometimes, it can be in the form of loyalty points and even gifts, although this is not so common.
What’s important to note is that not all sports betting bonuses are created equal, and there are various types of bonuses that each have their own unique features and terms.
When it comes to monetary bonuses, there are generally two requirements, irrespective of the type of bonus. The first is the minimum deposit amount, and secondly, once you have claimed the bonus, there is usually some sort of rollover/wagering requirement.
Let’s take a closer look at these concepts:
Initial Deposit: In order to claim a bonus, you will need to deposit funds into your account. In almost all cases, there is a minimum amount required. There are some sites that do offer a no-deposit bonus, but it is not that common. While sportsbook sites certainly don’t want to limit you on how much you want to deposit, there is often an upper limit on how much bonus you will get. For example: A site says: “Join now and get a 50% Welcome Bonus”. In this case, if you deposit $100, you will receive an additional $50 in bonus funds, giving you $100+$50=$150 worth of funds to bet with.
Rollover Rate / Wagering: If you think you’re going to put all $150 on a single bet and when you win, you will withdraw all your winnings, you will be in for a nasty surprise. The reason is that the sportsbook applies a rollover/wagering requirement on the amount deposited and the bonus, before allowing you to withdraw. For example: a Rollover of 10X would mean that you must place a total of bets worth $1,500 i.e. ($100+$50) x 10. Note that some sites may place odds restrictions on the rollover. What this means is that they may not count your entire wager towards the rollover requirement, depending on the odds offered for the bet you are placing. Another factor to consider is there is often a time limit to complete the rollover and if you don’t meet the requirements within the timeframe, you could forfeit your bonus and possibly even any winnings from that bonus.
There are a variety of bonuses, so the requirements of each may vary slightly. Before you jump on an offer, make sure to read the terms and conditions, because as we said: “Not all bonuses are created equal”.
What Types of Sports Betting Bonuses are There?
There are many different types of bonuses and each has its own nuances. Here are some of the most common ones out there. Note that some sportsbook sites will give them different names or adapt them slightly in order to differentiate themselves, but in general, there are 2 main categories that bonuses fall into.
- Sports betting bonuses for new customers – This is exactly as the name implies; it’s a welcome bonus and it’s designed to attract new customers to sign up and start betting. The type of offers you can expect are, for example: Get a 100% Welcome Bonus or Join Now and Get 50% up to €
- Sports betting bonuses for existing customers – Once again, the name says it all. This type of bonus is aimed at existing customers and is intended to keep you betting with the sportsbook site. Sometimes, the bonus is intended to reactivate customers who have been inactive. On the other end of the scale, VIP customers, who bet large amounts, are rewarded for being loyal.
Building on these concepts, here are some of the most common types of sports betting bonuses:
- Match Bonuses – Also known as deposit bonuses or deposit match are the most common online betting bonuses. The sportsbook will match your deposit amount by a certain percentage or fixed amount. Example: 100% up to €
- Reload Bonus – Almost identical to a match bonus or welcome bonus except they are aimed at existing customers to encourage them to keep depositing and placing bets.
- Free Bets – Don’t get excited, they’re not actually free bets, but instead, a type of insurance or cashback up to a certain value. In essence, it’s a “risk-free” bet where you still need to make a deposit and place a bet. However, if you lose the bet, you get your money back but if you win, you receive your winnings with rollover requirements.
- Loyalty Bonus – The more you play, the more they pay. Loyalty bonuses are there to not only keep you betting but to encourage you to bet more. Often, loyalty bonuses will be awarded based on how much you bet within a certain period and may not necessarily require you to make a deposit. For example, you may already have bankroll to play with, so the sportsbook may offer you X% amount of bonus if you wager more than €500 in a month.
- No Deposit Bonus – As the name implies, these are bonuses you may receive without having to make a deposit first. Typically, these are given to existing customers and may be small amounts to keep you active. Very rarely are no-deposit bonuses given to new customers, but anything is possible. Once again, make sure to read the fine print.
- Referral Bonuses – It’s simple, bring your friends and you get rewarded. They will have to sign up and make their initial deposit before you get rewarded. Your referrals may also have to meet their rollover commitments too. Make sure to read the terms relating to referral bonuses as sometimes, there are limitations on it being immediate family members or the number of referrals etc.
Sports Betting Bonus Codes
With most gambling sites, in order to activate or redeem a bonus, you will need to enter a bonus code during the deposit process. Most sites will have an option within the “Banking / Cashier” page where you can redeem a bonus code. Bonus codes are often provided in emails from the sportsbook or may be advertised on their site or a banner. Many sites, in order to make the process more seamless for new customers, may not require you to enter a code with your first deposit and it may automatically be credited to your account. If in doubt, contact the support and ask them before depositing; almost all sites today have a live chat option.
There is no clear-cut answer, but generally, YES. However, let’s take a look at some of the pros and cons which will help guide your decision. Some of the disadvantages of claiming a bonus are the multitude of terms and conditions associated with the bonus. You may have to make a minimum deposit before being able to claim; there may be rollover/wagering requirements; there may be time limits to use up the bonus and various other commitments. Probably, one of the biggest reasons to be wary of a bonus is it could lock in all your funds, including your deposit amount, till you have met the requirements to be able to withdraw. On the other side of the coin, you can increase your bankroll without risking all your own funds. If you are new to an online betting site, it’s a good way to test out the new site with limited money. With the right strategies and discipline, you can turn a small amount of money into a substantial amount. Whatever you decide, we cannot emphasize enough to understand the T&Cs, because the last thing you want is to lose out on thousands of euros in winnings because you didn’t know what was expected.
Once again, there is no simple answer and it depends on the sportsbook, the type of offer and even the jurisdiction, as this affects what is permitted. Probably, the best rule of thumb is to first read the terms and to understand them. When you know what the requirements are, you can then make an educated decision as to whether to claim the sports betting bonus or to walk away. An important tip, as with all gambling decisions, is to make your choice based on facts and not on emotion. Too often, punters get blinded by the big bonus numbers being thrown around, especially when they have been on a winning streak and they then tend to jump head first into offers that lock them in. The bigger the bonus, usually, the bigger the requirements.
The simple answer is to make money! But, you’re probably wondering how they can make money if they are giving it away. The concept is no different to a store having a sale and offering a discount. This marketing tactic has been used for generations to get you into the store and spending money. The same holds true for a sportsbook; they can only make money if you are betting, and while they may actually be losing some of their profits at times due to bonuses, experience has shown them that, on average, customers spend much more in the long run, which means the sportsbook makes more in the long term.
The short answer is no, but the more pertinent question should be, is the sportsbook offering the bonus a scam? If an offer or bonus is structured correctly and has clear terms and conditions, then it shouldn’t be a scam. The problem is, generally, the sportsbook who doesn’t live up to their commitment or provides vague terms so as to scam punters. To make sure you don’t become a victim of a rotten sportsbook, you should stick with reputable, licensed and regulated brands. A licensed and regulated online betting site has to abide by strict rules, and in the event that you have an issue, there is a path of recourse that can be taken. The other important thing when it comes to bonuses is that you “play by the rules”. All too often, customers don’t stick to the terms and when the sportsbook doesn’t honor the offer, the customer claims that the sportsbook is a scam.
Very simply put, it’s when you breach the terms and conditions or act in an unethical way to take undue advantage. When you break the rules, you stand a chance of having your account banned, your bonuses cancelled, your funds confiscated, or all of the above and even possibly, face legal proceedings. You’ve probably noticed a clause in almost all T&Cs that says the sportsbook can amend, cancel or change an offer or their terms at their sole discretion. What this means is even if they suspect you have attempted to do something dubious, it can be viewed as bonus abuse. Some of the most common offences that sportsbook frown upon is arbitrage or advantage gambling. Also, many times, an offer can only be claimed once per customer, yet customers will try to claim the bonus multiple times. Don’t try abuse the system; casinos and sportsbook operators invest heavily in systems that detect bonus abuse and fraud. In fact, many operators have entire departments dedicated to reducing their risk by actively looking for “sneaky customers”.
This varies from bookmaker to bookmaker, but generally, you can bet on all sports, however, there may be specific terms or betting odds requirements in order to use your bonus funds. The limitations may also prevent you from placing an each way bet. The only way to know what you can and cannot bet on is to read the terms or if in doubt, contact support.
This question has no simple answer or a guaranteed method. Online betting is all about odds and applying a strategy is about trying to improve the odds in your favor but bear in mind, the sportsbook has a house edge built into every bet to help them make money too. The other problem with this question is avid punters each have their own strategy they use, which they believe is the holy grail. One strategy that seems popular among sports bettors is opting for Free Bets instead of a Match Bonus. Because free bets work like a type of insurance, they are sometimes referred to as risk-free bets, because when you lose a bet, the bookmaker refunds your bet amount. The problem is the amount you get back may not cover your entire initial wager, which means you could still be at a loss, but at least not the full amount. The other issue with Free Bets is you may be limited to which types of bets or sports and even the number of Free Bets you can place.
No! A welcome bonus is for new customers only and if you check the terms of the sportsbook, you will more than likely find a clause that makes this very clear. Now don’t try to be clever and think you will simply sign up with a new email address. All online betting operators have fraud detection systems, plus when you have to verify your account, you will have to send them personal identification documents.
Unfortunately, no! You will have to meet the required rollover requirements. Bear in mind, the sportsbook is in business to make money and so to protect themselves, they have to put limitations in place, or they will be handing out free money and end up going out of business.
Don’t stress and certainly don’t go ranting online how you got scammed. Sometimes there are technical issues, maybe you live in a jurisdiction that doesn’t permit bonuses or there could be hundreds of reasons. Simply contact the bookmaker’s support and ask. More than likely, your problem will be resolved in no time all.
The Final Word…
Betting on sports can be a great form of entertainment and you could even make some money while doing it. Sport betting bonuses can be a great way to boost your bankroll and to “play with the house’s money”. The most important thing to know about any type of bonus is to understand the terms and conditions, which vary from bookmaker to bookmaker. By knowing the rules and sticking to them, you will save yourself the frustration and enjoy your online betting a lot more. Always choose a reliable and reputable sportsbook, and if you’re ever in doubt about something, contact their support. No matter what you decide or which bonus you choose, always remember: “Bet with your head, not with your heart”.