Things you must know about welcome betting bonuses

Several online sports booking sites have been launched continuously over the past decade. This surge in the sites has brought in massive competition in the betting industry. Hence, these betting platforms offer lucrative promotional deals to attract players. One such deal is a welcome bonus. Let’s learn all about welcome deals in our article below.

What is a Welcome Bonus?

A welcome bonus is a promotional offer given to the players after they register and deposit some amount at the sportsbook. This bonus usually comes in a package. This means the rewards are given to you on the first couple of consecutive deposits. It all depends on the betting site.

Some sports betting platforms offer bonuses on the first 3 deposits added there, while some others are generous enough to extend the bonus up to the first 5 deposits.

How does a Welcome Bonus look?

The welcome bonuses at the sports betting sites usually come with a minimum deposit amount. You must almost always add money above that minimum limit to claim the bonus.

A usual sportsbook reward may include bonus credits, free bets, cashback offers and so on. Moreover, there is also a maximum limit on how much reward you get.

Bonus credits

Also known as bonus funds. Depending on how much you have deposited, the betting site will offer you a percentage of it as a reward. Now, remember, bonus funds generally cannot be withdrawn. You will have to use them to wager and gamble at the same betting platform. Moreover, you can withdraw only the amounts you earn on your bets through the bonus funds, provided that you meet the wagering requirements.

An example of bonus credits is- 50% deposit bonus of up to €100. If you add €80 to your casino account, you will receive €40 (50% of your deposit) as a bonus. So, you will now have a total of €120 in your account for you to wager and play.

Free bets

Free bet is a stake of a particular value that is paid for by the bookmaker. All you have to do is use the bet and make a wager on an active sport. If you win, the reward is given to you. However, there will be certain requirements before the winnings are paid to you. Check all the details before you use the free bet.

Cashback

This is given on the losses you make on your wagers. New players may lose their first or second bets placed. To keep up their spirit, betting sites return a percentage of loss in the form of bonus credits.

An instance of a welcome bonus at a sports betting site looks like this:

  • Register and add a minimum of €10
  • Receive a 100% first deposit bonus up to €200
  • On your second wager, earn cashback up to €50

Of course, this is just an example. This bonus varies from one platform to another. Some sites might even reward you after you have placed a wager. So, look for all the details of the welcome package before you claim one.

If you are looking for top sports bookmakers in the industry, head to Betpack to find some. Here, you can read reviews of the betting sites to know the best one and also look for suitable bonuses. Use its search bar and sieve through the excellent bonus collection!

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