What is a Sports Bonus?
To fully utilize an odds bonus in the form of a deposit or welcome bonus, an understanding of how it works and what it means is a must.
A bonus can be in many different forms and could have different requirements depending on what type of bonus it is and which gaming site promotes it. It is also important to note that different sites may have different names for the same type of bonus. They are called everything from the welcome offer to the sports betting bonus to free bets and so on.
Below is a guide to help you navigate in the terminology and the terms & conditions associated with a bonus.
Online sports betting has revolutionised the way bets are placed across the world.
Where brick and mortar shops once ruled, now online betting sites empower users with the freedom to bet anytime and anywhere.
Be a smart bettor, not a punter
Wagering Requirements
What can be argued to be most important when it comes to choosing a betting bonus is the wagering requirement. The sums of the bonus may vary, but the wagering requirement can make the amount of bonus vary significantly.
The best betting websites have a 5x bonus amount on deposit bonuses, while others have clearly higher, sometimes as high as the 50x the bonus amount. Again, this drastically varies depending on the amount of bonus.
Which Sports Can I Use The Bonus For?
Bonuses are generally for any sport available on the online betting platform you choose. The most popular sport in Africa (and the world), is football so there is a lot of betting on the sport. Almost (if not every) online sports bookmaker will have football on its website or application.
The English Premier League sees the most volumes of betting, generally, around the world.
Basketball is another very popular sport for betting as well. The NBA and Euro League are the biggest basketball competitions that people like to bet on.
Types of Bonuses
Deposit Bonus
A deposit bonus is an offer for customers who deposit money into their account. A deposit bonus usually contains a percentage of your first deposit and can range from 25% up to as much as 500%.
When a deposit you make is matched with a 100% bonus, it is called a “matched bonus”.
For example, a betting company offers a 100% bonus on deposits of up to £100.
Hence, a deposit of £100 will see you automatically get a deposit bonus of £100.
To have the opportunity to take your winnings, you may need to comply with the wagering requirement attached to the bonus so do check the terms and conditions.
If your £100 bonus has a 5x wagering requirement, you have to stake £100 x 5 before becoming eligible for any winnings.
With that in mind, let’s say a betting site offers you a deposit bonus of 100% up to and including a deposit of £100. This means that you will get a bonus of £50 when you make a deposit of £50 in your betting account.
If you want to make a larger deposit you may need to consider any price limitations on the deposit before you put that amount into your account. If you deposit more than £100, you may not qualify for that particular deposit bonus. If you make a deposit of £100 with a betting site you may get £100 in deposit bonuses.
After you have received your deposit bonus, you may have to wager your bonus a number of times before you can withdraw your bonus amount.
If the wagering requirement is, for example, 5x the bonus sum and you make a deposit of £100, this would then mean you would have to wager up to £500 before you can claim your winnings.
Different types of wagering requirements for bonuses tend to vary depending on what betting site you choose.
You may need to also consider that more often than not there are minimum odds placed on bets made with a deposit bonus.
For example, if the minimum odds are set at 1/2, that means that you would have to place a bet for at least those odds when a bet is connected to your deposit bonus.
Free Bets
A free bet is a very popular type of welcome bonus offered to new customers.
A free bet means that the betting company offers you a sum of money that you can place a bet with. If you use the free bet and win, then you get to keep the winnings (minus the original sum that the betting company gave you to place the bet).
HOW A FREE BET WORKS
Let’s use an example.
You receive a free bet worth £10 after registering as a new customer. This free bet is used on a football match at odds of 1/1.
You placed the £10 free bet at the given odds and your bet won.
You would receive £100 minus the original stake (£10) – £90 is the amount you would pocket.
Some betting companies may include a wagering requirement as part of the Free Bet offer which would mean wagering any winnings you make from a free bet, a certain number of times before you can claim them.
Often the wagering requirements are kept low for Free Bets but it is still important as a customer to be fully aware of the terms and conditions that apply to your free bet.
Risk-Free Bet
Another common type of free bet is a risk-free bet. With this type of free bet, you need to place a bet with your own money.
If you lose, you get all the money you wagered back because it is a risk-free bet. The money you wagered will be deposited back into your betting account.
If you win, you get to keep all the winnings, just like a normal bet. Fantastic!
However, your free bet may be subject to a wagering requirement before you are eligible to collect your winnings.
HOW A RISK-FREE BET WORKS
Let’s say, for example, you receive a 100% risk-free bet up to £50.
Terms and Conditions stipulate that you must wager any winnings made from the free bet, 3 times and against odds amounting to at least 1.35 before being able to cash out.
No Deposit Free Bet
A no deposit free bet basically means “free money” to new customers who register with a new online betting platform. You need not make a deposit to receive your bonus.
A no deposit free bet bonus is extremely popular and is practically free because you do not need to wager your own money. The original sum given with a no deposit free bet tends to vary, but is normally relatively low and usually ranges between £5 to £10.
There is likely to be a wagering requirement to avail this bonus as well so do look into that.
HOW A NO DEPOSIT FREE BET WORKS
- You receive a no deposit free bet offer after creating a new account (no initial deposit is required).
- An amount is pre-loaded in your account with which you can bet. This is risk-free, of course.
- If you win, the betting site may ask you to wager your winnings a number of times before you can collect your sum.
Refer a Friend Bonus
There are a number of websites that are leveraging this bonus as well. The “Refer a Friend Bonus” is slowly picking up and a lot of online sports betting platforms are leveraging this to expand their customer base.
It also is a great offer for users as both – the existing customer as well as new customer, reap the rewards. SportyBet – Africa’s #1 football betting and live streaming platform is one bookmaker that offers this type of bonus and is popular for it.
SportyBet.com is licensed and regulated in Ghana, Kenya, Nigeria and Zambia. It is one of the most reliable online sports betting platforms out there. They have different types of bonuses and gifts for their users and you are guaranteed to have a great experience.
SportyBet is also known for having terrific odds on offer for its sports. Here is our take on SportyBet.com and everything it has to offer.
http://www.footballbetting.org/sportybet/
Best Odds and Live Odds Boost
This is a very rare bonus/promotion for one to find but SportyBet is one such platform that offers this service.
The Live Odds Boost literally boosts the odds available to the user with the simple click of a button when placing bets on the website. This boost can be used simply by adding your bet predictions, accessing the betslip and clicking on the live odds boost option!
Multiple Bets Jackpot
Top sports betting websites offer multiple bet bonuses and SportyBet is a leader in that. The African online sports betting platform has something called Sporty 12, which is the perfect example of how you can make big money with small amounts in betting.
Multibets can lead to users making up to 350% of their stake amounts!
Terms and Conditions to keep in mind when Betting
As mentioned above, there are a number of betting companies that offer a wide range of bonuses and promotions that come with their own specific requirements. The terms and conditions attached to each bonus can vary substantially.
It depends on which type of bonus you choose, the online sports betting platform and the amount at stake as well, at times. Make sure you do go through the terms and conditions on the betting platform you access before you use these bonuses and place bets.
The conditions are in the fine print so pay attention to that, such as wagering requirements and minimum odds. Below you will find a specifically tailored list of what we could be the most important things to consider when you use bonuses, promotions or gifts on betting platforms.
Types of Bonus and Bonus Sums
The first thing you should be looking for when deciding on which bonus to use is to check how big they are. Most people get swayed by a bonus with the highest figure but it is always good to keep in mind that this type of bonus often comes with terms and conditions that are more complex and difficult to meet.
If you choose a signup offer with a high figure, you need to be prepared to wager or turn over any winnings you make a number of times before being able to claim them.
Wagering Requirement
A wagering requirement is the number of times a betting platform requires you to wager your initial bonus amount before you can claim any potential winnings.
The wagering requirement you have to meet before you can claim your winnings often depends on the type of bonus you have selected.
Make sure you check these wagering requirements, do some math and then accordingly evaluate the best course of action you are willing to take.
Minimum Odds
This factor alongside the wagering requirement is the most important to consider and one you must be aware of when deciding to use a bonus while betting. Betting platforms generally mention that the bonus will only fulfil the wagering requirement if it is in conjunction with the minimum odds that they have set.
Validity Period
A bonus can come with a limited period of validity. This is where the betting site only allows you to use your bonuses within a specified period of time after which it lapses.
This also means that you only have a limited time to reach the wagering requirement. A common mistake that people make when it comes to reaching the wagering requirement is the validity period attached to the bonus.
Make sure you read the terms and conditions as not playing within the validity period often results in the player losing their original bonus altogether.
Bonus Code
Certain bonuses are activated by using a bonus code or promo code. If you have a bonus code then it will be provided to you in connection with your initial deposit or after you have made any additional deposits.