Deposit bonus

The online sports betting industry is extremely competitive, and each online bookmaker must offer fantastic welcome bonuses as a way of enticing new customers.

Welcome bonuses can be in the form of free bets, boosted odds bets, and first deposit bonuses. Here, we take a look at what deposit bonuses are and give customers all the information they will need before taking advantage of one of these offers.

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What is a Deposit Bonus?

Deposit bonuses are basically where an online bookmaker will give customers an extra amount on top of the funds they have deposited, with a set percentage given as a bonus.

This could be as little as 10% but may be as much as a matched deposit bonus of 100%.

The bonus is usually available to use immediately, although there will be several requirements which must be met before withdrawing any winnings. This may be a wagering requirement that the customer must stake

New customers aren’t the only ones to benefit from deposit bonuses, but it is first deposit bonuses we are going to concentrate on here. Existing customers can also receive bonuses when depositing funds into their account, but these are known as reload bonuses and they are covered in a different section of this site.

Deposit Bonuses – What to Consider

While the promise of extra funds is always enticing, there are several factors which a customer must take into consideration before signing up to a new site based solely on the deposit bonus they are offering.

Here are a few things to consider before signing up to take advantage of a deposit bonus.

Size of Bonus

Obviously, potential customers will likely be swayed by the promise of a larger bonus. However, signing up to a site with a bigger bonus may not always be the best thing to do and better value may be found with a slightly smaller bonus.

The bigger the bonus, the more requirements there will be before withdrawing any winnings. There will likely be a maximum amount of deposit the bonus will be applied for and higher wagering requirements attached to the bonus.

For example, a deposit bonus of 10% may be added to deposits of up to £1000 and only have a turnover requirement of 2x the bonus. Whereas, a 50% bonus may only be applicable up to deposits of £100 and have a 10x bonus turnover requirement.

Looking at the terms and conditions will give customers the information they require as to whether the bonus on offer is of value or not.

Wagering Requirements

Pretty much all bonuses come with wagering requirements. These can be in the form of a certain amount to be staked before the bonus is applicable, bonus funds must be used on specific markets, or there will be a minimum turnover for the funds received as a bonus.

The last one of those three is most likely to be attached to a deposit bonus, with the customer having to cover the amount of deposit bonus a certain amount of times before any winnings can be withdrawn as cash.

For example, a customer will receive a bonus of £10 if a deposit bonus gives 50% and the amount deposited is £20. The terms and conditions will explain the requirements attached to the bonus, which in this case we will say is a 5x minimum turnover.

So, the customer would have to stake £50 on top of the bonus before any funds are withdrawable.

With specific markets, the bookmaker may require you to bet only on football both teams to score bets or on a certain horse race. These conditions are rare and will be clearly indicated in any promotional material for the bonus.

Expiration Period

Most deposit bonuses, or indeed any type of bonus, will have a set time limit before the bonus expires. Customers will be given a certain number of days before the bonus expires or for the wagering requirements to be met.

So, a customer who receives a £10 bonus may have to use these funds within three days of being deposited into their account. They may even be given a set number of days to cover the wagering requirements before any bonus funds are deleted from the account.

Always read the terms and conditions of a bonus, especially the small print hidden at the bottom, to ensure you do not miss out on any bonus funds due to an extremely short time limit.

Minimum Odds

Most bonuses will require the customer to place bets with minimum odds for the bonus to be applicable and then with any bonus funds that are added.

For example, the minimum odds may be 1/1 (2.00). This means that a customer must place a bet with odds no shorter than this to qualify for the bonus and then all bets using bonus funds will have to meet these minimum odds as well.

This requirement may not be as important to those who like to bet on high priced football accumulators as it is to those who bet on the favourites in horse races, but everyone should take it into account before selecting a bonus to take advantage of.

Bonus Codes

There was a time when every online bookmaker required customers to insert a code before receiving any advertised bonuses. Nowadays, this is rarer but may still apply to certain online bookies.

Basically, a bonus code is a set word, numbers, or combination of both which must be entered in the “bonus code” section of a sign-up form or when making a first deposit.

Most of the offers which require bonus codes are ones that aren’t heavily advertised. They may be specific to a certain number of people who received the offer and code via e-mail or text message.

How to Choose the Best Deposit Bonus

In order to find the site which offers the best deposit bonus for your requirements, you must take all of the above points into consideration. Then, look at our list of the best and most popular deposit bonuses on offer before making any decision.

Remember to always read terms and conditions fully before committing to anything, before signing up to a new site or depositing funds with them, paying special attention to the small print. There may be details in the small print which negates the value of the bonus to you.

Also, remember, you are not restricted in the number of online bookmakers you sign up with. Signing up to more than one site may give you the opportunity to receive bigger bonuses and means you are not restricted to betting with just one company.

The final thing to consider is the fact that the initial deposit bonus is designed to entice new customers and may not be an indication of what you can expect to receive in future. A site may offer a fantastic welcome bonus but nothing for existing customers, but another site may provide better value with a smaller deposit bonus but regular offers and promotions after signing up.

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