Understanding Bookmaker Bonuses and How to Use Them
Bookmaker bonuses are a great way to boost your bankroll, but they feature different terms and conditions. Understanding these terms and conditions is critical since you have to fulfill them before withdrawing any proceeds from your bonus bets. However, these wagering requirements can be complex since there are also time limits involved.
This article explains what are online bookmaker bonuses and how you can use them to build your bankroll.
What is a betting site bonus?
A bookmaker bonus refers to a monetary amount that operators use to attract new players and encourage the existing ones to keep patronizing their platforms. However, the players need to understand the set terms and conditions before claiming a bonus offer.
While these rewards come to the players in the form of promotions, their playthrough requirements can refer to a specific amount, markets, or odds. However, your understanding of these requirements can make or break your success or failure when using and withdrawing the proceeds from the bookmaker bonus.
Types of bookmaker bonuses
Every bookmaker has its strategies to attract and retain their players. As such, each bonus works differently depending on which site you choose. Fortunately, there is a list on Wincomparator outlining the most trustworthy bookmakers with different types of bonuses, including:
– Welcome bonuses – These are promotions given to encourage new players to create a betting account and make their first deposit. Most bookmakers match their player’s deposit amount to a certain percentage, although some might offer a fixed amount. For instance, an online betting site offering bonuses for new customers can offer 100% for deposits reaching up to €100.
– Risk-free or sign-up bonuses – While these promotions are part of the welcome bonus package, you don’t need to make your first deposit to receive them. You only need to create a betting account and start placing bets. However, they are normally limited and have strict betting requirements.
– Reload bonuses – These popular bonuses are designed to reward existing players for reloading their betting accounts. These offers function almost the same as the welcome bonuses but may differ in the amount given and the playthrough requirements set by the operator.
Understanding playthrough requirements
Playthrough requirements refer to the number of times you must wager using your bonus before withdrawing. For instance, if you deposit $100 and receive 130% at 1XBet, you will need to use the bonus 5X in accumulator bets before withdrawing. Platforms like 1XBet also have the minimum number of selections and odds that apply to their bonus.
Besides the playthrough requirement, bookmakers can set other conditions for players to redeem their bonuses. These conditions include predetermined odds, time limits, and types of bets. For instance, a bookmaker may stipulate that their bonus offer can only be used on accumulators or single bets. That can also restrict the use of the bonus on a particular sport like football or basketball. Failure to meet these conditions will result in the surrender of your bonus.
