How Do Bonus Plans Work?

Offshore Sportsbooks are very competitive  and like any other business they all want to attract new clients and to keep the ones they already have. Food chains offer coupons, paper or electronic, retail stores run sales, and online sportsbooks and casinos offer bonuses; to the potential client, and their regular players. This is where the bonus, or promotion plans come in. Before we explain to you the most common types of bonuses we want to acknowledge that if you’re already a player at an online sportsbook you know how these bonuses work. You also know the importance of reading all the terms and conditions; T and C ‘s. For those who are not yet played at online sportsbooks we encourage you to always read the terms and make sure you understand them. They are vital to your entertainment and success. 

The Sign-Up Bonus

Signup Bonus's are also referred to as the welcome bonus and first deposit bonus. For example MyBookie sportsbook currently has a 100% Sign Up bonus up tp $1000. This is a bonus you receive when you sign up and make your first deposit, however the bonus is not automatically credited to your sportsbook account. When signing up you’ll usually have an option to choose one of several different sign up bonuses. For instance, you might have a choice between a 30% bonus when depositing with a credit card, or a 50% bonus when signing up with a cryptocurrency like Bitcoin. Making a deposit with Crypto is genuinely faster and easier for both you and the online sportsbook. When players use Bitcoin, or other forms of Crypto many of the offshore sportsbooks increase the bonus percentage and the maximum amount you can claim. BetUS is a good example of a sportsbook that will bump up your bonus when using cryptocurrency when depositing.

There are always certain terms, or milestones you have to make before being able to bet with bonus money and these are called rollovers. The rollover is the amount of money you have to wager before collecting the bonus, which is why some players rather not bother with it and sign up without the bonus. Basically the rollover when is you the player, have to wager your original deposit amount, plus the bonus you’ll be receiving, several times over before the sportsbook will award you the bonus money. Our take on that is if you’re going the be wagering at the sportsbook anyway you might as well accept the bonus, its free and in my opinion it’s worth the wait, however if you just make an occasional wager you may not want to bother with it. We just want you to understand you can’t gamble the bonus cash until the terms have been met.

Roll-over

Let’s get this out of the way, people complain about the terms in the rollover, but if you read the terms which are clearly stated, then you know ahead of time what to expect. Please read the terms. Here’s how the rollover works. You actually have to start betting to make use of you bonus. There are terms and conditions that specify a rollover amount and rollovers differ from sportsbook to sportsbook. So, you’ll have to wager your entire deposit and the bonus you will get, however many times are in the rollover terms before you can actually wager with the bonus money.

Let’s take the terms of the sportsbook Youwager sportsbook. Youwager offers a 50% Sign-Up Bonus. So, if you deposit $500, you get $250 as a bonus. However, Youwager specifies a 10x rollover of the deposit + bonus amount, which means you’ll have to bet 10x (250+500). That’s 10×750. In other words, you can collect the bonus only after placing bets worth $7500. Youwager also has a Reload Bonus which is explained in the next section. This deposit comes with a 20% bonus and the rollover is 4.5%. So, say you deposit $300 on your second deposit, 20% of $300 is $60. Your deposit plus the amount of the bonus = $360 x a rollover of 4.5x = $1620.00 you have to wager before collecting you bonus amount. You Wager also has a 100% Free Play bonus thats works much the same way, but has a higher percentage, so if you deposit $500, you'd get $500 in free play. Just remember to collect your bonus you have to wager the bonus amount and your deposit X amount of times, which if you're goning to do that anyway, it's a great deal .

Reload Bonus

This bonus, once relatively rare is now a staple in the bonus realm. Reload bonuses are usually 25% of your second deposit and offshore sportsbooks such as Betonline sportsbook offer a reload bonus on every qualifying deposit after your initial deposit. We’ll use Betonline as the example. To qualify you must deposit a minimum of $50 and use Code LIFEBONUS in the cashier. This bonus comes as Free-Play, not cash and carries a 6x Rollover requirement. So, say I deposit $200 on my second deposit. $200 gets me a $50 bonus, so $200 (deposit) + $50 (bonus) = $250 X 6x = $1500.  In this case after I wager $1500 I will get a free $50 wager 

Free Bet Bonus

Some online sportsbooks go for the free bet bonus. Here, you basically get to place a free bet after your first bet. The free bet amount has to match the first bet amount. Also, free bets don’t include the stake. What that means is if you place a free bet for $30 and back an even winner, you are going to get back the same $30; not $60. Some sportsbooks expect a roll-over in order to release the winnings from the free bet.

Percentage of Loss Bonus

This is also one of the rare ones. Here, the sportsbook will offer a percentage of the total losses as a bonus. The idea is to keep the customer satisfied. Some of the offshore sportsbooks call this a rebate, or insurance.

No Deposit Bonus

This is probably the least common of all. Here, sportsbooks allow customers to take part in real money bets without making the initial deposit. However, the roll-over requirements are usually very high. As stated it is very rare to find this bonus and if you come across it make sure you read the fine print.