The Most Common Types of Bonuses and Promotions Offered by Online Betting Companies

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Online betting companies offer their clients bonuses and promotions in order to lure them to continue betting with them. Such promotions and bonuses include free bets, deposit bonuses, VIP programs among others that we will discuss in this article.

But as a novice punter, you should not register with a certain site just for the sheer factor that they offer bonuses. You should conduct a thorough research on these companies in order to gauge their authenticity. Some of the most authentic companies are Betway Sports and Betrally.

Review by Efirbet on the betway mobile app showed that punters can access deposit bonuses using the app, hence making it a go-to company in the world of mobile sports betting. You can also view other sites and compare the bonuses and promotions.

Why do they offer bonuses and promotions?

  • To attract new customers
  • As a way to appreciate existing customers
  • To rejuvenate dormant customers.

There is always a genuine reason why they offer these promotions and bonuses. But always do your research before falling prey into any.

Types of bonuses and promotions

  • Matching your stake

This is the most common type of bonus offered to punters. Once you open an account and place the first bet, the bookmaker will give you double the stake of your initial bet. Simply put, if you placed a $10 bet, he will match the stake giving you a $10 bonus. The total stake will, therefore, amount to $20.

  • Free bet

This type of promotion lures novice punters into the betting world. It is common to read headlines on the betting sites saying get $10 or $25 free bet. What they don’t want you to realize is that it is not actually free.

Here is the concept behind this promotion. Let’s say the promotion reads you are to get a $50 free bet. Once you make your first bet and lose, you will be given a reimbursement of up to $50. Simply put, it acts as an insurance of your initial bet. However, if you win, you get nothing. You only collect your winnings.

  • Initial deposit bonus

Although not common today, some betting companies still offer it. Typically, you are offered a bonus on top of the initial deposit when signing up. For example, it is common to see; get a $50% bonus on your first deposit. However, you need to bet on a minimum number of matches with the whole amount before the withdrawal of the funds.

  • Reload bonuses

They are somehow identical to the initial deposit bonus, only that they target existing customers and the bonus is usually smaller.

  • Cash back

It is common with betting sites that offer multilevel VIP programs. You are awarded for every $10 you bet. The points accumulate as you progress through the levels and you can exchange them for cash and other packages. The higher you advance the more points you are to accumulate and the more cash you will get in return.

Verdict

Promotions and bonuses are meant to keep existing customers betting with particular betting companies and also attract new customers. The bonuses range from initial deposit bonuses to free bets. As a punter, it is your duty to identify which promotions fit your needs.

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