About Sports Betting BonusesAnyone who’s been in the sports book or casino industry for long would know that sports books and online casinos compete pretty aggressively to get your business. While some boast about having the most updated technology, others play on their large customer base. There are others that try to lure customers by giving them a wide array of sports betting options. However, the main way in which a large number of online casinos or online bookmakers attract new customers is by offering various types of signup bonuses.
These signup bonuses are actually rewards or promises of giving free cash if a player signs up and creates a player account with them. It’s normally in the form of a certain amount or number of bets credited to the bettor’s account. Brick and mortar casinos offering sports book services normally offer complimentary drinks and food to new customers who sign up for such services. Sometimes they even offer free of cost room upgrades or rooms, going as far as handing out real cash to win the loyalty of wealthy customers!
Such aggressive signup bonus offers at various online sports books resulted in a malpractice among sports bettors wherein they’d sign up with all sorts of online casinos/sports books simply to cash in on their bonuses, and then move on to the next one, not sustaining their memberships long enough to make it a worthwhile endeavour for the online casino/sports book.
However, if we look closely, it’s only natural that people would try to take as much advantage as they can of such bonus offers. After all, customers visiting brick and mortar casinos often decide their eventual playing destination based on the establishment which offers them the maximum freebies. Online bonuses are simply a new age imitation of this conventional casino and sports book practice.
Signup bonuses – A brief history
Signup bonuses used to be much easier to earn during the initial days of online sports betting or gambling. The common belief is that it is the sports bettors’ misuse of such bonus offers that resulted in them becoming much harder to earn. Online casinos and bookmakers slowly found a way around and started placing strict wagering requirements for such signup bonuses to become available to customers. Hence, you cannot really earn any real money from such bonuses unless you are actually committed to betting with the concerned online sports book.
When online books first started offering various signup bonuses, the betting requirements didn’t use to be as high as they are in the modern times. Visit any popular online sports book and you’ll know how hard it has become for new sports bettors to actually make these bonuses count. You’re required to place a certain number/amount of bets to qualify for such bonuses. These requirements may vary from portal to portal, however the variance is usually only in the extent of bets you must place, and not in the requirement per se.
Also commonly referred to as a rollover, such requirements make sure that a sports book doesn’t lose any money by handing out free bonus cash to new sports bettors who don’t bet for very long after signing up.
Let’s explain it better with an example of how this arrangement works in the online bookmaking establishments. Let’s assume that you’re seeking a new sports book to place certain bets. You see an online bookmaker offering 50% signup bonus of up to £ 100. You go through their terms and conditions and see that they require a 10x rollover. It implies that you’ll need to bet 10 times of your initial deposit plus the bonus amount, for you to actually earn that bonus. Hence, if your initial deposit is £ 150, you’ll need to bet at least £ 1600, for you to bag that £ 100 bonus. These conditions used to be much more relaxed during the early days of online sports betting.