Bonuses and rewards are two of the most significant pros of online betting. Each website has different offers for their customers, some being way more generous than others. It is important for punters to try and maximize the profit from these online gambling bonuses because it is an attainable way to increase your bankroll. People who want to make a profit should always look for additional value from such promotions. Of course, those who gamble for fun should also take the opportunity when it presents itself.
This guide will show you more about the biggest benefit from these rewards and bonuses. In the beginning, we will explain to you everything you need to know about them, including how they work and at which sites you can claim them. We will also give you some tips about the terms and conditions that you must fulfill before being eligible to apply for a bonus.
As we said, bookmakers are not equally generous with their promotions, so you need to be careful when picking which one to use. Fortunately, if you do not know much about betting sites, you can always check our bookmaker reviews list and see which one has the best online gambling bonuses available.
Basic Information about Online Bonuses
Some facts you should consider before you attempt to claim bonuses and rewards.
What is a betting bonus?
All offers work the same way – they are additional funds which you receive when fulfilling certain terms and conditions, which means that they are not completely free, but it is still worth it to try and claim them.
How to receive the rewards?
There are different methods that you can use to get a bonus, and they depend on the website that you are using and the offer type itself. The process is not complicated, and you receive the money automatically. Sometimes you will need to deposit money into your account before receiving the reward, but that is rarely the case.
Tip: You should keep in mind that you will need to fill out a bonus code if you want to claim these additional funds. Make sure to always check if you have done that, or else you may miss out on the promotional offer.
Why bookmakers offer different types of gambling bonuses?
Some people are wondering, what betting sites gain by providing these promotions and bonuses. Here are two main reasons why they do it – to win new customers and to keep their existing ones happy.
There is quite the competition in the gambling industry, and punters can choose from many quality websites. Most bookmakers have similar services, which mean that the bonuses can be the crucial difference when someone is searching for a gambling site. Moreover, those who already have an account can also benefit from these promotions.
Even though the main reason why bookies offer online gambling bonuses is to gain more customers, which leads to more profits, these promotional offers still benefit both sides.
Different Types of Bonuses and Rewards
Each site offers a different initiative to their clients, most often in the form of online gambling bonuses and other rewards. These bonus offers can be categorized into two groups – for new customers and existing ones.
Promotions for Bew Customers
Also known as welcome bonuses, these rewards can be used only by people who do not have an account and want to make one. The two options that you have here are “deposit match” and “no deposit bonus”.
With the first one, your initial deposit is matched by the bookmaker, for example, if you deposit 50$, and the bonus is 200%, then the amount that you will receive is 100$. There are often minimum and maximum amounts that you can deposit, and they are different in each website.
The “no deposit bonus” is self-explanatory. You do not need to upload money, which means that the bookmaker will give you free funds so you can try them out without giving them your money. These offers are far less common than the deposit ones, and the amount that you get is not so big in comparison.
Promotions for Existing Customers
The three most popular types of bonuses and rewards for existing customers are Reload bonuses, VIP programs, and Loyalty Schemes.
The reload bonus is the same as a deposit match, but it applies to existing customers. You get them each week or month, and sometimes even the period is pre-arranged, for example, a 25% reload bonus on your first monthly deposit up to 100$.
Depending on your gambling activity, you also can receive VIP and Loyalty bonuses. You can earn points for each bet you make, and you can exchange them for prizes or just transfer them to your existing account.
The VIP program is the same, but it only applies to valuable players who often gamble, which means that they often get bigger prizes.
Terms and Conditions
The most important thing that you can take away from this article is to pay attention to the terms and conditions of each offer, regarding bonuses and rewards at the chosen betting website. Some of the things that are written there include:
- When are you eligible for a promotion
- How to claim your bonus
- What can you use it for
- Can you withdraw it
- If yes, are there additional requirements
- In what period should these requirements be met
These are just some of the most important points that you will find in the terms and conditions. They are usually more and cover each question that you may have. This means that they are very long, but that is not an excuse to not read them. Understanding them can be a vital part of winning more money.