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Popular online sports betting sites have numerous incentives lined up for new and existing customers. These incentives include extra bets for people who sign up, such as bonus bets. Bonus bets are awarded in different ways and require different steps depending on which bookmaker you choose. Most bookmakers offer bonus bets in similar way as what is explained in this article. So let’s find out more about bonus bets. What are bonus bets and how to use them to your advantage?
A bonus bet is a free ride on behalf of your sportsbook and is handed out as a sign of appreciation. With most sportsbooks, winnings from your bonus bet are instantly available as cash and can be withdrawn without restrictions. A bonus bet can come as a standalone offer or be included with a deposit bonus.
You would use your bonus bet in the same way that you would use a free bet or risk free bet. Place your bet as you normally would and select the bonus bet in your betslip. Note that some sportsbooks require you to opt-in or activate the bonus bet on your promotions or bonus page. Also make sure to read the bonus bet rules in the terms & conditions to assure you understand the offer fully and prevent disappointment later on.
When turning your bonus bet into a winner, you get to hold your winnings, however the value of the original stake or bonus bet will be returned to the house. For example, should you wager a $10 bonus bet at odds of 1.70, you will get $17 returned of which you get to keep $7.
The good thing about a bonus bet is that there are usually no wagering requirements and that you get to keep the winnings as cash.
A free bet is certainly considered a good bonus, however is not the same as a bonus bet.
Winnings from a bonus bet are available without any restrictions as cash. Free bets on the other hand, require you to clear your winnings and make it eligible for withdrawal. In sports betting, 3x wagering requirements are common, which means that you would have to wager a total amount of 3x the bonus funds before your winnings are eligible for withdrawal. If in the above example, the bonus bet was to be a free bet, you would then have to wager 3x $10 = $30.
If given the choice, the bonus bet would be the preferred option to a free bet, pending your review of the bonus bet rules.
Because bonus bet winnings are instantly available as cash and are not required to clear like you would with winnings from free bets, you can withdraw your winnings. Nevertheless, make sure to study the terms and conditions of the offer and your sportsbooks withdrawal policy and other rules.
With bonus bets, you will only receive your winnings and will not get the amount of your bonus bet back. So, a winning $10 bonus bet wagered at 2.50x odds will give you $15 in cash instantly available without restrictions.
Once you have placed your bonus bet and the bet is settled, the bonus bet itself cannot be used again and will be unavailable. You will not get it back and if you would like another bonus bet, you have to either contact the customer support and VIP team or wait until a new promotion drops in your account.
There are few ways to get bonus bets offers on sites like Sportsbet.ONE or Stake.com, and these include special promotions. An example of such a promotion could be to make a minimum deposit of $50 after which you receive an instantly available $10 bonus bet. Another example of receiving a $10 bonus bet could be a promotion where you have to place at least three bets on a US Open tennis match at odds of 1.50 and above with a stake of $10.
Sports betting sites also like to offer their loyal VIP players bonus bets on special occasions such as bettors’ birthdays or during Christmas.
Bonus bets can also come your way as part of automated promotional campaign or weekly bonus drops. If you feel you are missing out on bonus bets, you can best contact your sportsbook customer service or VIP team directly and ask them for one. Especially when you are considered a VIP, bonus and free bets are happily dispersed by the crew.
When you are on the lookout for the best bonus bet offers, scanning bonus codes online is a must. With many reputable sportsbooks offering their services to players worldwide, bonus bet offers are equally as widely available. There are sites available that do the work for you and compare the best daily offers for your country or region.
The best sports betting bonus bet codes would include a 100% welcome bonus on your first deposit with a bonus bet depending on the size of your deposit. You can find some good offers at award-winning Stake.com, which accepts regular currencies like USD and cryptocurrencies like Bitcoin and Ethereum. Decentralized sportsbook Sportbet.ONE, where you get a risk-free bet of $50 when registering, is another good destination. For a top US Bookie, sign up with BetUS and enjoy their bonuses and other offers.
Next, depending on your volume of play, the sportsbook can decide to offer you additional bonus bets if they feel you need to be rewarded for your loyalty.