Bonuses and incentives are very common in the sports betting world. There is more betting action than ever before. Top online sportsbooks feature hundreds of betting markets 52 weeks a year. So how will their bonus and incentive offers help you?
Attracting new bettors to their online betting platform is now a year round endeavour. One of the best ways to do that is through generous new member welcome bonus and incentive offers. There are normally reserved for sports bettors that are completely new to the site.
How Bonuses and Incentives Work for You
The process starts with an online registration. Offshore sportsbooks catering to US players generally require much less personal information than US-based books to open an online betting account.
Once a new member is registered with any online book, they need to activate their account with an initial deposit. Most of the offshore sportsbooks will tie their welcome bonus to this deposit amount.
For example, an offshore book may be offering a 100% matching bonus on initial deposits up to $1000. This means that any initial deposit you make (up to $1000) will be doubled through bonus funds.
Deposit Bonuses
US-based books will also offer bonuses of this nature. However, the matching limit on the first deposit tends to be lower. A more common welcome offer for new members normally centers on covering the amount of the first bet.
For example, a US book might offer to cover a member’s first sports wager up to $500.
If they lose that bet, they receive a $500 credit in their online account. There is much more risk involved with this type of bonus. If you do not closely follow all the rules and regulations tied to this offer, you could easily lose $500 since it was an actual wager that was placed.
With an offshore book’s deposit bonus, if the set conditions for redeeming that bonus are not met, the new member does not have to forfeit any of their initial deposit amount.
MUST READ > SPORTS HANDICAPPING: PROS VS. JOES
Important to Know the Rollover Rules
As a general rule, it is extremely important to read and understand all the rules, requirements and restrictions tied to any bonus offer from any online sportsbook.
Sportsbooks are more than willing to reward high volume bettors who rollover their online betting accounts on a regular basis. However, they are not in the business of giving money away for free.
A welcome bonus is more of a marketing tool for both offshore and US-based books. They are designed to attract a sports bettors’ attention. The competition for new members is fierce these days in a highly competitive business environment.
Get Bonuses and Incentives from Multiple Sportsbooks
Offshore books and US-based books are always competing against one another for market share in the US sports betting industry. That’s where bonuses and incentives come into play.
Offshore books have the luxury of offering their bookmaking services on a global basis but the US market is one of the biggest and most lucrative opportunities in the world right now.
Using multiple sportsbooks can benefit you in many ways. Smart bettors use multiple sportsbooks. Not only can you take advantage of their promos, you get to shop for the best line. Line shopping is the easiest betting strategy to help you win more bets.
A large portion of a US-based book’s revenue is spent on marketing programs and advertising. Offshore books rely on affiliate programs that draw prospective bettors to their online betting platforms.
This fundamental difference carries over to the bonus and incentive offers that are made available. This, in turn, gives the offshore books the overall competitive advantage. By obtaining new customers at a much lower cost, they can use some of those funds to further enhance their overall promotional program.
