An incredible advantage of choosing an online bookmaker is the availability of a welcome reward for new customers. These bonuses are available at the time of downloading the app or after completing account signup procedures. For existing punters, companies also may offer free credits and loyalty points for their clients’ deposits, which presents an excellent opportunity to increase wagering capital and gain more exposure to the markets.
The online sports betting industry is witnessing a rise in the number of technologies used to develop advanced sports betting apps for punters across the globe. Almost all bookmakers in the market have in-house advanced platform prototypes that can deliver outstanding gambling experiences for all categories of customers. These platforms are advertised to the general public through amazing offers, which in turn attracts the best punters and amateur bettors in the market. So, which is the best signup bonus for sports betting and what are the different conditions involved in redeeming a promotional offer? We will try to give you a definitive answer!
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|BUKMACHER||WELCOME BONUS||SPECIAL OFFERS||RATING||VISIT|
|up to ₹2,500*||
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|up to ₹4,000**||
Rated by 105 users
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**Available to new customers only. Make a qualifying deposit of ₹400 or more and claim the offer within 30 days of registering your account to qualify for 15% of that amount in Bet Credits, up to a maximum of ₹4,000. Once claimed, your Bet Credits will be held in your account balance and are non-withdrawable.
|up to ₹10,000*||
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Why Do Online Sportsbooks Offer Free Money?
The market is quite saturated with a wide choice of online sportsbooks that covers all corners of the sports market. Therefore, in an attempt to gain a significant edge, most reliable sportsbooks rely on offering deposit bonuses, free bets, rewards and other gifts to attract new clients. Bookmakers also try to retain their existing customers with loyalty programs and other incentives, along with updating their platforms and increasing the choice of markets to stay relevant in the industry.
Due to the increased competition in the market, punters have come to expect incentives from their bookmakers, primarily as tokens of gratitude for choosing a particular company over others. Some punters seek a bonus to add to their low start-up capital, while others look to capitalise on the extra money to increase their market exposure. We are aware that bookmakers are finding it hard to gain traction in the extremely competitive online gambling industry, where the magnitude of a promotion can either make or break a sportsbook. Therefore, bookmakers are indeed counting on promotional strategies, such as a deposit match bonus and free wagering credits, to gain as many customers as they can.
The Different Types of Online Bookies’ Sign-Up Bonus Offers
A bookmaker typically launches a promotional program that is not only aligned with its promotional strategies but also aims to impress a large number of customers by providing excellent offers for their investments. Categorically, sports betting bonuses are available in different forms, some of which are outlined below:
Deposit Match Bonus
A deposit match bonus is the purest form of a new customer betting bonus, where a bookmaker matches a certain percentage of the deposit amount as free money for placing a wager. Deposit bonuses can usually offer anywhere between 5% and 100% of the funds deposited in an account, with some bookmakers, such as Dafabet, even promising up to 200% for customers in specific demographics. According to our experience, regulated and licensed bookmakers don’t indulge in any hefty deposit promotional schemes, but such companies may offer around a 10% to 25% bookmaker deposit bonus for new clients.
Licensed bookmakers sometimes offer a free betting credit as an online betting welcome bonus, as they may not be legally authorised to provide a deposit match bonus to punters. These free credits are available to customers either at the time of signing up or after completing a pre-set wagering requirement. The free credits can be as low as $5 (or any other currency denomination) and may only be available once a punter transacts a minimum volume in sports wagers. Free betting credits typically range between $5 and $50, which is significantly lower than a deposit match bonus.
A no-deposit betting bonus is offered by bookies to lure potential customers to their platforms by offering free money without requiring any deposit. These kinds of promotions mainly target punters who are looking to evaluate the services of a bookmaker, but regular sports betting enthusiasts may also utilise the no-deposit credits to check out the market and get some much-needed practice.
Betting-Based Loyalty Rewards
Loyalty points or comp points are rewards-based programs that offer free cash or credits to existing customers. In such an incentives program, punters accumulate points through their wagers, eventually amassing enough points to be redeemed for cash or other forms of credit. Loyalty points differ from one bookmaker to the other, but clients can keep track of the loyalty points through their account dashboards.
Sign up Gifts
It is not uncommon for online bookies to offer free gifts to their users in the form of memorabilia, electronics, accessories, and access to events, but these promotions are only reserved for more substantial deposits. Some bookies may include their smaller players in these promotions, provided they are able to meet the minimum wagering requirements imposed by the company. Sign-up gifts are quite rare in the sports betting market, but there are a few operators that offer them as online betting welcome bonuses.
A referral commission is sometimes considered to be the best sign-up bonus for sports betting, as it provides a significant amount of money to a punter for referring other customers to the platform. The referral program is also available for affiliate marketers, who can withdraw the referral commission without satisfying any wagering requirements. Unlike most of the other promotions, referral bonuses can be clubbed with other bonus offers for a more handsome payout.
Sports betting bonuses often tend to be highly restricted and may not be as extravagant as a casino bonus. Sports betting is mostly considered a skill-based game, which is why the bonuses and promotions offered by online sportsbooks are not as attractive as casino offerings. Customers must also note that casino bonuses may not be transferable to a sports betting platform, and vice-versa.
Bookmaker Deposit Bonus as a Part of the Funding Method
Bookmakers have been known to enforce partnerships with various online payment processors such as Skrill, NETELLER and PayPal, who are the leading e-wallets in the gaming industry. These e-wallets often run promotions and a multitude of betting sites’ bonus offers are specifically designed to provide unique benefits to their account holders. Bookmakers often use these e-wallet platforms to advertise their services, which in turn promise attractive deposit bonus packages, gifts, and invitations to personalised events. Punters are recommended to sign up with some of our most preferred funding options to keep track of the various sports betting promotions that are offered by these payment processors.
Is a New Customer Betting Bonus a Standard Offering in the Industry?
No. There are cases where online bookies will outright deny any bonus offerings to clients due to regulatory restrictions. Many gaming authorities, especially those located in Europe and the USA, operate under several customer-oriented laws that prevent companies from offering any promotions and restrict withdrawals. Some bookmakers also have specific rules for punters from individual countries, where the company reserves the right to modify their promotional programs or eliminate the bonus program entirely in order to satisfy the legal requirements for operating in the country.
What are the General Conditions Associated with Promotional Offers?
Although bonuses are a great way of increasing your capital, there are a few terms and conditions that are associated with online bookies’ sign-up bonus. Here are some of the most common T&C imposed by sportsbooks:
- Punters must be 18 years old (or have attained the legal age of gambling in their country) to be able to qualify for the promotional program.
- All bonuses come with a minimum wagering requirement. Withdrawals will only be processed once the user completes the minimum wagering requirements.
- Availing a deposit match bonus may automatically freeze your account from withdrawals unless otherwise specified by the bookmaker.
- A new customer betting bonus is usually only available for one punter from a household. Multiple bonuses availed through a single IP can lead to an account ban, along with the bookmaker withholding all bonus money, winnings, and even deposits.
- All punters must verify their personal information at the time of withdrawal by sending all the relevant documents and proofs of identity to the bookmaker.
- Bookmakers reserve the right to issue/deny any offer, and the final decision concerning any promotional activity lies solely with the bookmaker.
Withdrawing Money after Availing a Bookmaker Deposit Bonus
Accepting a free money promotion from a bookmaker means that the punter agrees with the terms and conditions issued by the company. Every bookmaker has various rules and guidelines regarding withdrawing money, but most sportsbooks only allow users to initiate a withdrawal after satisfying the minimum wagering requirement. The wagering conditions can vary according to the type of promotion and the weight of the odds in the sports market. Online bookies provide detailed information about the different wagering conditions in their official bonus T&C pages, which should serve as useful references for new and existing customers.
Most bookmaker-punter conflicts arise out of a lack of understanding of the terms and conditions, as punters often request a withdrawal without satisfying the minimum wagering requirements. To make matters easy for customers, sportsbooks have started displaying the betting volumes and other privy account information on their users’ account dashboards, which should remind punters to keep track of their bets and their wagering volumes. Incidentally, punters can decline a bonus altogether, thereby avoiding the hassles of dealing with issues that are associated with the bonus terms and conditions.
Sports Betting Bonuses – Should You Opt-In?
Although punters can enjoy some of the best sports betting environments they have ever experienced, bookmakers often find themselves in a predicament of competing with their peers in the industry. Therefore, companies often resort to offering attractive account-related benefits such as bonuses and promotions to increase conversions, which enable punters to increase their betting capital without actually taking any risks. Even though there are certain advantages to signing up for an offer, punters must be aware of the numerous pitfalls in promotions programs. We recommend reading through our bookmaker reviews for a full review of the different bonus programs offered by sportsbook websites and to gain a better understanding of the various guidelines that are associated with bookmakers’ rewards programs.