Online betting bonus
Types of betting bonuses
One of the main differences between land-based bookmakers and online bookmakers is sports betting bonuses. Now players prefer to bet online, including because of the variety of bonuses offered by operators. But how well do you understand the types of sports betting bonuses? It’s not as easy as it might seem.
Although the bonus is a convenient way to earn more, it almost always comes with conditions that the player must meet. Any type of bonus you receive – free bet, wager bonus or cashback – will come with a number of restrictions. We hope this article will help you get familiar with sports betting bonuses.
Types of sports betting bonuses
Below we have compiled a list of the most popular sports betting bonuses, adding detailed descriptions and examples to each, so that even those who dive into the topic for the first time will not have any gaps.
Bonus with wagering
A wager bonus is a betting bonus with a wagering requirement that a player must meet in order to convert the reward into cash. There are many types of wagering bonuses: welcome bonus (provided after making the first deposit), event bonus (issued for special sporting events) and others.
How it works?
In order to convert the bonus into cash, the player must wager (“wake”) it a certain number of times. The amount of wagering required varies from bookmaker to bookmaker. The amount of the deposit and the offered betting bonus is usually summed up and multiplied by the wager.
We offer a specific example to clearly see how this bonus works.
Given: $100 deposit and 100% bonus on it.
Find: the amount you have to wager to cash out the reward.
Solution: if a player makes a deposit of $100 and receives a 100% bonus on it, then as a result, his wallet is replenished by $200. Let’s assume that the bet is x12. To find out the answer to the problem, the player needs to multiply 12 by $200 = $2,400
Answer: in order to withdraw the won funds, the player needs to place bets in the amount of $2,400. The most important thing here is that wagering applies to the entire amount, including the amount of the player’s deposit.
Undoubtedly, this is the most popular and common type of sports bonus.
Express of the day
In essence, the parlay of the day is a sports bonus with a pre-selected set of events with an included bonus bet on them.
How it works?
The number of express bets collected by the bookmaker in the bet of the day is not limited. All the player has to do is accept the terms and the bet will be placed. Any change in the conditions turns the bet into a normal accumulator without a bonus multiplier. This is a bonus that is entirely based on chance, luck and trust: the bookmaker offers conditions, and the player decides whether he is ready to accept this risk.
Comboboost
Comboboost is only used for multiple bets. This bonus gives the player additional odds that increase the bettor’s potential winnings.
How it works?
In this case, the player decides to make several single bets and combines them into one multiple bet. The bookmaker has its own specific criteria that a player must meet in order to receive Comboboost (number of multiple bets, odds, etc.). If the bettor meets all the criteria, he receives special conditions from the bookmaker.
Suppose a player decides to make an express bet on football. There are three single bets with odds of 2 each, then the total probability of this accumulator is 8. If the player bets $100, then his potential winnings are $800. But the bookmaker offers a bonus odd of 1.2 and then the expected win goes up to $960, where $160 is an additional reward if the bet wins.
Thus, Comboboost is a profitable sports bonus for players: if the bet wins, the client wins more, but if the game loses, the player loses only the amount of the bet. Comboboost is often offered by betting companies such as:
Freebet
Freebet is one of the most versatile types of bonuses. It can be used for multiple bets, single bets, during live matches and pre-match events.
There are three types of freebet bets:
- no risk
- AllWin
- Only Win
No Risk: how does it work?
The player receives a free bet, which he can use for events set by the bookmaker. The player chooses an event, makes a bet, and here we will look at three possible options.
- The bet wins. The player receives his winnings, and the bonus is debited.
- The bet loses. The player receives his bet with real money (no wagering requirement). The bonus has been withdrawn.
- The bet partially wins. The player receives his winnings. The bonus has been withdrawn.
Let’s look at a small example: a bookmaker provides a player with a no-risk bonus for, say, $10. From the list of events available for this bonus offered by the operator, the player selects an event with a coefficient of 3. Great, today the player was lucky and he won. The winning amount will be $30. If the bet lost, then the bettor would not lose anything.
AllWin: how does it work?
The player is betting with money that is not displayed in his wallet, but is displayed in the promotions section. In short, bookmakers allow players to bet on company funds. In case of winning, the amount is credited to the player in real money to his account. The client loses nothing if the bet loses, making this a win-win scenario.
For example, a player has a $10 bonus and decides to use it. To do this, the bettor chooses the event on which he wants to bet. Let’s assume that the event coefficient is three. Then, in case of winning, the player will receive all $30 to his account. If the bet does not play, then the player does not lose anything.
OnlyWin: how does it work?
The essence of this sports bonus is that the player makes a bet on the bonus money provided by the operator. If the bet wins, the player receives the difference between the winnings and the amount of the real money bet into the account.
This type works almost identically with AllWin, except for the moment with the deduction of the bet amount. For example, a bettor decides to use his $10 bonus to bet on an event with a coefficient of 3. Then, if he wins, the player takes $20 to his account, where $20 is the difference between the winnings ($30) and the bet amount ($10).
Insurance rates
Insurance is an option for bettors who are unsure if their bet will win. Some bookmakers allow players to insure a bet at any time (one of the services is for an additional fee), while others provide this option to players as a bonus.
How it works?
Very often, the cost of insurance depends on the current odds for a particular outcome. Any bet – both express and regular – can be fully insured (100%) or partially. If the bet is lost, the insurance part is returned to the player’s balance. This is a pleasant option for all players: such a bonus reduces the risk of losing money without cutting the winnings.
Cashback
There are many types of bonuses, but cashback is one of the most profitable perks for customers. The classic refund option works like a partial repayment of a loss. For example, after losing to the player, 5% of the lost bet is returned to the balance. Cashback is usually only available for a specific sport, championship or competition.
How it works?
Usually cashback is returned in the form of a free bet or a wagering bonus, it all depends on the specific bookmaker. Cashback is one of the most favorite types of bonuses among players. Cashback is really encouraging if the team you were hoping for loses or just hit a black streak.
But with wagering bonuses, the process can be more complicated. Operators often have strict wagering requirements to convert winnings into real money. In most cases, this is a rather time-consuming process when the player needs to make a certain number of side bets.
