If you’re not yet familiar with the concept of a welcome bonus, you should know that it’s one of the most popular offerings from sports betting platforms. Indeed, it’s a perk for new customers who sign up on the website.
Learn about how welcome bonuses work and the advantages they bring to new customers through this article. You’ll also grasp the rules for using them and understand the concept of rollover in sports betting.
What Are Welcome Bonuses and What Are They For?
A welcome bonus involves an amount offered to new customers when they register on a sports betting website. Additionally, this bonus is also referred to as a signup bonus or registration bonus.
It’s important to note that each sportsbook has its own rules and conditions for this promotion aimed at new bettors. However, in general, the welcome bonus is provided as extra funds in your account for making bets.
This happens after you register on the site or make your first deposit into your account, with the bonus amount often varying based on the deposit amount. Furthermore, this deposit can be made through methods like credit cards, transfers, or other available options.
Different Types of Welcome Bonuses
Sportsbooks offer various types of welcome bonuses, each with its own set of rules and usage conditions for new customers. Here are the main types of bonuses offered:
No Deposit Welcome Bonus
This type of bonus is very attractive because it doesn’t require you to make a cash deposit or any form of payment. Simply complete the registration, enter your information, select the bonus option, and the amount will be credited to your account.
Typically, this bonus is offered as a free bet, functioning as a sports wager provided by the sportsbook. In this way, a specific value is assigned with minimum odds or multiple selections.
Deposit Welcome Bonus
Certain welcome bonuses are granted after the new customer’s initial deposit is made at the sportsbook, with pre-established minimum deposit amounts. Usually, this bonus corresponds to 100% of the amount deposited by the bettor.
It’s important to pay attention to the deadline for using the extra bonus funds; when you place a bet, the amount is deducted from your bonus balance rather than your initial deposit. Additionally, keep in mind that there’s a maximum cap on the value of this type of bonus.
Welcome Bonus After the First Bet
This option is employed by some sportsbooks but isn’t particularly appealing to new customers. This is because these sportsbooks require an initial bet from the customer to grant the welcome bonus.
In this case, the bet could be a risk-free bet of equal value or a fixed predetermined value. Additionally, the bet must be based on the odds provided by the sportsbook operator.
Risk-free bets or cashback offers may also be available, allowing for the partial or full return of your first bet if it wins.
What You Gain from Using Welcome Bonuses
Certainly, welcome bonuses offer new customers a rewarding opportunity. Not only do they get to test various strategies, but they also learn how sports betting works.
Especially for beginners in betting, who might not yet grasp the dynamics of the betting market, playing a few times for free is enticing. This way, they won’t risk their initial resources while gaining experience and knowledge of the market.
However, an important detail regarding withdrawing welcome bonuses needs to be understood. Withdrawal of cash can only be made after completing the rollover requirement.
Rollover is a requirement set by sportsbooks where the bettor must wager the bonus amount or the winnings from free bets a certain number of times. This must be done within a specific timeframe in accordance with the sportsbook’s offered odds. Thus, it requires discipline and dedication to fulfill this condition and withdraw your bonus.
Now that you understand how welcome bonuses work in sportsbooks, take advantage of them by registering and placing bets using your signup bonus.
