Sports Betting Bonus: What is important to know? When it comes to gambling, there is much to choose from, depending on the interests of the individual in question, of course. (Online) casinos and/or bookmakers offer individuals a good deal of different gambling/betting options, in the hopes of appealing to certain individuals with specific interests. Furthermore, (online) casinos and/or bookmakers offer bonuses to new and existing players in order to enhance their experience while betting. When accepting this bonus offer, players should keep a number of things in mind, in order to avoid an unpleasant situation in the future. This article will therefore showcase what is important to know in the case that one might get a bonus offer from a casino and/or bookmaker. However, this article will focus on a specific bonus, the so called ‘sports betting’ bonus. Sports betting is considered one of the oldest forms of gambling, seeing as it has been around for decades, even centuries. One could easily see the appeal of this form of gambling. This article will firstly give some general information on sports betting and bonuses, before showcasing what is important to take into account when accepting a sports betting bonus. So without further ado, let us dive into the world of sports betting and its bonuses.
What is sports betting?
Individuals have many options to choose from when it comes to gambling and sports betting as one of these options. As the name suggests, sports betting is a type of gambling where individuals can bet on sport instead of other gambling games such as roulette, for example. It is believed that sports betting has been around for centuries, ever since organized sports started to appear. There is even evidence that suggests that betting existed in ancient Rome.
Sports betting is an extremely popular type of gambling, especially among sports fanatics, seeing as it brings more fun and excitement when following a sports event. We all know how passionate sports fan can get when it comes to their favourite sport, team and/or athlete. Sports betting gives the opportunity to prove their ‘knowledge’ about a certain team/sport by predicting or better said guessing the results/outcomes of that specific event. However, individuals should still be aware that sports betting is a type of gambling and when gambling everything relies on chance. Thus, the outcomes cannot be predicted with certainty. In addition to this, individuals should still keep the dangers of gambling when betting on a certain sports event.
Types of sports betting
Sports betting gives a lot of betting options to individuals depending on the sport that they are interested in. Among other things, individuals have the option of betting on events, such as a football match, racing event, golf event, hockey, basketball, American football and may more sports. The bookmakers will let the individuals know what the sports betting options are. Furthermore, individuals have the possibility of betting on different types of sports betting such as live/in play betting, eSports betting, Pari-Mutuel wagering, sports spread betting, exchange betting.
Live/in play betting
Live in play betting is a type of sports betting that requires individuals to place a bet on a sports event while the event takes place. With live/in play betting, individuals get a number of betting options that cannot be found in other types of sports betting. When opting for live/in play betting, individuals can for instance bet on:
- who will score the next goal in a sporting match;
- at what time the goal will be scored;
- next player to get booked;
- team to win next corner;
- form of next set piece such as: throw in, free-kick, goal kick and/or corner kick.
- eSports betting
The term ‘eSports’ stands for electronic sports, which focuses on competitive video gaming. There are many popular eSports games, which you might have played yourself on a casual basis. Some of the most popular eSports games include: Call of Duty, League of Legends, Counter-Strike, PUBG and many more. Esports also offer individuals different betting possibilities such as real money betting, skin betting, social betting and challenge betting.
- Real money betting: This type of esports betting functions similarly to betting on football games, boxing contests, or golf tournaments, making it the most comparable to regular sports betting. Individuals can place a bet at agreed odds with real money and if they win they will receive real money in return. Individuals have the possibility of betting on the outcomes, such as the winners of a specific matches.
- Skin betting: Among fans of esports, skin betting, or better known as item betting, is a very popular form of betting. Virtual money and other items that can be traded between players are a common component of many modern video games, and devoted players frequently seek these features. As a result, there are several websites for trading and auctioning objects and currencies for some of the most well-known video games. Additionally, there are betting websites where gamers can bet using items and money. In addition to using them for other types of gambling, individuals can substitute them for real money while betting on the results of esports competitions.
- Social betting: In the eSports community, informal bets between friends or internet connections on the results of events are known as social betting. Although it is possible to bet for real money, social bets are often made for skins or other items. The two parties agree on the conditions, which are subsequently settled in accordance with them.
- Challenge betting: Challenge betting, or also known as head-to-head betting, is a type of eSports betting where individuals compete for real money or items and skins. There are websites that operate a little more officially, requiring teams and/or players to pay entrance fees in order to participate in a competition, with the revenues going to the winner(s).
Pool betting, commonly referred to as pari-mutuel betting, is a distinct type of gambling. Individuals are betting against other bettors who have already made bets on the same event, and not against a bookmaker. All bets are then combined into a pool, and those who make the winning choice split the pool evenly. The ‘house’ withholds a little portion of the total wagers, as would be expected. When it comes to pari-mutuel betting, the house is either a government agency or a privately owned business that offers these services.
Sports spread betting
With this type of sports betting individuals have the possibility of receiving the biggest prizes, but they could therefore also experience the biggest losses. Although it is often done through a bookmaker that specialises in this field, certain popular online betting sites also provide sports spread betting. So, how does sports spread betting work? The oddsmaker/bookmakers sets a spread based on what they think the results will most likely be. It is up to the individual to determine whether they believe the final outcome will be greater or lower than the spread of the oddsmakers is up to us to determine. Spread betting excels in particular for some betting markets since everything is always done on a greater or lower basis. These include wagers on totals for goals scored overall in a football match, runs scored overall in a cricket match, and points earned overall in a basketball contest.
A sports betting exchange makes it possible for bettors to place wagers directly against one another istead of using a bookmaker. In a betting exchange, there are two different sorts of bettors: “back” bettors and ‘lay’ bettors. Because you have to wager on a certain outcome, ‘back’ betting is quite similar to gambling on a standard betting website. An example of back betting is a horse winning a race or a football team winning a game. A ‘lay’ bettor acts in the opposite way to a ‘back’ bettor by taking on the role of a sportsbook and wagering that the outcome the back bettor has bet on will not occur. Therefore, if a sports bettor backs a team to win, the lay bettor bets on that team to tie or lose.
What are the different bet types?
In sports betting, there are also different bet types, among which are:
- Moneyline and win bets;
- Totals and over/under bets;
- Point spread and handicap betting;
- Futures and outright bets;
- Proposition bets and specials;
- Parlays and accumulators;
- Teasers and pleasers;
- If bets and reverse bets;
- Permutation betting
- Moneyline and win bets
Win and moneyline bets can be combined. They both signify the same thing, even though they are phrased differently. The name depends on where one lives. This is one of the most simple bet. With the moneyline bet, individuals will have to simply chose who they believe will win the match.
Totals and over/under bets
The bookmaker will provide a specific total for a sporting event when a totals bet is placed. This sum frequently depends on how many points were scored throughout the game. Individuals must decide whether they believe that the total will truly be higher or lower than the value provided by the bookmaker before placing this type of bet.
Point spread and handicap betting
Point spread and handicap betting is essentially the same ting. A handicap bet is another form of bet that an individual may make use of on several sporting events. After a bookmaker has made a choice about which team is favoured to win the sports match, they will then assign a total number of points they believe the favoured team will win the sports match by. Individuals have to decide whether they believe that the pick by the bookmaker is to be overstated or understated.
Futures and outright bets
Futures and outright bets are considered the same type of bet. This type of sports bet requires from bettors to select the winner of a competition, tournament and/or league. Bettors are thus required to make their choice in advance about a sports event that will take much later.
Proposition bets and specials
Bettors can for example place a proposition bet on which player of a team will score first in a match. Another option is to place a bet on the time of the first goal in a football game, or a bet on team player will score the game’s first run. This type of bet makes it possible for individuals to bet on a wide variety of various things.
Parlays and accumulators
An accumulator bet requires individuals, for instance, to choose a winner for six distinct races in the case that they bet on horse racing. The predictions of the individual for all six races would need to be correct in order for them to win this type of bet. They will lose the bet and their money if even one of your predictions is wrong.
Teasers and pleasers
This type of bet also required bettors to make a number of selections for a single bet, but it still differs from an accumulation bet. An individual may select the string of bets that they want to place with teasers. The point spreads can then be adjusted in their favor to increase their chances of winning the bet. This type of bet provides individuals with a significant advantage in comparison to an accumulation bet.
If bets and reverse bets
The if and reverse bets are two of the most challenging wagers to understand. These bets require individuals to make various choices, but how things turn out may vary based on the individual’s choices. For instance, while placing if bets, individuals will start by selecting two or more bets that are related in some way. If their original prediction is wrong in this type of bet, all following bets are invalid. Because of this, if bets are regarded as safer alternatives to the conventional accumulation bet because the risk is minimized. Furthermore, reverse bets are seen as two if bets combined into one. The individual will make an if bet on their first and second choices for the first part of the bet. A second if bet will then be placed for their second option, and then their first.
Permutation bets can also be quite difficult to understand. Individuals will have to make a number of selections and they will also have to place a number of bets by combining the selections that they made.
Useful term to know
Like many other professions, sports betting has their own special terms and phrases that are useful to know before being ‘lured’ into betting on sports because of a nice bonus offer. Hereunder, you can find the terms that you might encounter when placing a bet on a certain sport.
- Action – Action is another word for
- Against the spread-The outcome of a game taking into account the point spread.
- Favourites vs. Underdogs – In sports betting, there is always an underdog and a favourite. When oddsmakers release a betting line on a game, the first thing they do is decide which team should be the favourite and which should be the underdog. The favourite is the team that is more likely to win the match. The favourite always receives a minus sign next to its odds. The underdog is expected to lose and in contrast to the favourite receives a plus sign next to its odds.
- Cover – The result of a point spread wager/bet. A favourite must win by a margin greater than the spread in order to cover. If an underdog loses by fewer points than the spread or wins the game outright, they have covered.
- Future bets – A wager in a future occasion, such as a championship or divisional winner, who will be determined in advance.
- Moneyline bet – A moneyline bet is a bet that is made on whether a certain team will win or lose outright with no point spread.
- Long Shot – A large underdog is often called a long shot.
- Odds – The measure of how much an individual can win versus how much an individual bets.
- Off the Board – ‘Off the Board’ refers to a game that bettors cannot wager on.
- Over – Over is the term that is used when the combined score of two teams is more than what the sportsbook set.
- Parlay – This wager combines many games for a greater reward. The risk is higher, but the payoff is larger the more games there are. Each game in the parlay needs to win or push (tie) in order for it to win. The entire stake is lost if any of the games end up in a loss.
- Pick’em – This is a game with no underdog or favourite.
- Point spread – A point spread is a win margin chosen by the oddsmakers to encourage wagering on both the favourite and the underdog. For a favourite to cover the point spread, the winning margin must be greater than the point spread. If an underdog loses by fewer points than the spread or wins the game outright, they have covered.
- Proposition bets – A wager made on something apart from the result of the game. The first team or individual to score in a game, for instance.
- Push – A push is a term that refers to the occurrence when neither side covers the spread, no one wins the bet, and all bets are returned.
- Playthrough Requirements – When receiving a bonus, individuals are required to play the bonus through a number of times before withdrawing.
What is a (sports betting) bonus, and how does one claim such a bonus?
Sportsbook bonuses are ‘rewards’ that an individual receives from a bookmaker for a special sporting event, for example. However, when a bookmaker offers a bonus they expect something in return, such as playing the bonus through a number of times before withdrawing. Thus, if you accept a bonus in the hopes of earning easy money, you should be aware of the fact that it will not be so easy.
First and foremost, in order for an individual to be able to claim a bonus, they are usually required to have an account at that bookmaker. Furthermore, individuals are also required to be of a certain age, this age can vary from country to country. In addition to this, individuals are allowed to make use of the bonus offer only once, going so far as only allowing one bonus per household and/or IP-address. Moreover, should an individual be interested in a bonus offer, they are required to let the bookmaker know this, in other words, individuals have to ‘opt in’.
Thus, in order for an individual to be able to claim a sports betting bonus they are required to satisfy all of the set bonus terms and conditions. Therefore, when getting a bonus offer one should always read the bonus terms and conditions in order to know whether they are eligible for the bonus and whether this sports betting bonus suits them, seeing as they have to meet certain requirements in order to withdraw their winnings.
Sports betting bonus terms and conditions/requirements
Sports betting bonuses are no different from other casino bonuses, these to have certain terms and conditions that bettors need to fulfil in order for the pay-out/withdrawal to take place. The terms and conditions can also depend on the bonus type that the bettors receive. In this section of the article, a number of important sports betting bonus terms and conditions/requirements will be showcased in order to make you aware of the things that you need to pay attention to when accepting a sports betting bonus.
The playthrough or also commonly known as the wagering requirements is a bonus requirement that (online) bookmakers often set. This is a bonus requirement that bettors can expect 99% present of the time. Bettors should therefore be aware of the fact that they will not be able to withdraw winnings if they have not wagered the specified amount a set number of times. Bookmakers usually require bettors to wager the (bonus) amount from five to thirty times. When going through the sports betting bonus terms and conditions, you will most often find an ‘x’’ next to a number. This represents the play-through requirement that needs to be satisfied in order for a withdrawal to take place.
Let us demonstrate the playtrough requirement with an example. Individual X gets offered a cashback sports betting bonus from a bookmaker with a 5x play through requirements. Individual X then decides to deposit a 100 euro, in this case the individual would get a 100-euro bonus. Individual X now has 200 euro in total and is as per the terms and conditions required to bet 1000 euros (5 × 200 euro = 1000 euro) in order for him to be eligible for a withdrawal.
In addition to the above stated, bettors should also keep in mind that the play through requirement can differ from one bookmaker to the other. Therefore, it is from the utmost importance to go through the sports betting bonus terms and conditions, even when one might be convinced that he knows what is expected of him.
(Online) bookmakers can set a minimum odds requirement as a condition that needs to be fulfilled in relation to a sports betting bonus. This particular requirement refers to the minimum odds a selection of your choosing must have in order to spend bonus money or free bet tokens. In conclusion, minimum odds are essentially the lowest odds at which an individual may back a selection and still be qualified for the bonus or have it count toward the set sports betting bonus requirements. Sports betting minimum odds normally vary from 1.50 to even money such as 2.00, and while an individual is permitted to wager at lesser odds, doing so will prevent that individual from being able to withdraw the bonus.
When a sports betting bonus is involved, bettors might also be required to deposit a set minimum amount in order for them to be eligible for the sports betting bonus. This bonus requirement often comes hand in hand with a deposit bonus, the bonus requirements can thus be dependent on the bonus type that is being offered. The minimum deposit amount, like many other bonus requirements can differ from one bookmaker to the other.
Bookmakers may set a maximum winning amount for withdrawal that is accumulated from a sports betting bonus. If bettors go over this limit, they will only be able to withdrawal the set maximum amount, meaning that their efforts to accumulate as much money as possible will be all in vain.
Bookmakers sometimes offer sports betting bonuses only to bettors in certain countries. For this reason, one should always consult the sports betting bonus terms and conditions of that specific bookmaker in order to find out whether it is possible for them to receive the bonus that they are interested in.
Spots betting bonuses are only available for a certain time. Bookmakers often set time limits for the bonus, withing which the play-through requirements must be fulfilled. If we apply the time limit requirement to the above given example, it would look like this:
In addition to the play-through requirement of 5 times, individual X is required to fulfil this requirement within 7 days. Should individual X not have managed to playthrough the total of 200 euros 5 times, then the bookmaker will refuse the withdrawal.
This example further confirms the importance of checking the bonus terms and conditions of the bookmaker, in order for a bettor to be aware of what he is required to do so that the withdrawal can be granted.
Restrictions on betting options
Since a sports betting bonus is in question, bettors are strictly prohibited from using the bonus for betting on games/events that are not sports related. In most cases, the bonus can exclusively be used for specific matches/events. Thus, if you are a football fan that gets offered a bonus for a tennis match, then it is best to not accept it.
Maximum stake per bet
Another quite common requirement/limit that bookmakers set is a so-called maximum stake per bet. A maximum stake per is the maximum amount that a bookmaker allowed its bettors to wager on a given sports event and/or match. Should a player for example attempt to wager 200 euros on a sports match when the bookmaker has stated that it only allows wages until 150 euros, then the wage of 200 euros will not be accepted.
Requirements for withdrawal
Bettors should be aware of all of the terms and conditions that are set for the withdrawal of winnings from a bonus. As can be derived from this section in order for a bettor to withdraw winnings form a sports betting bonus, he first must satisfy all of the set requirements, such as the play-through, time limit an minimum odds requirement.
Types of sports betting bonuses
Bookmakers offer different types of sports betting bonuses to its bettors; however, individuals should still be aware of the fact they are required to fulfil the applicable bonus terms and conditions. In this section of the article, we will go through the different types of sports betting bonuses so that you might get better acquainted with this different bonus sports betting types and their requirements.
The welcome bonus also known as a sign-up bonus is one of the most popular sports betting bonuses that is being offered to bettors by the bookmakers. Only new bettors are eligible for the sign-up bonus offer, which is often offered as a percentage depending on the initial deposit. For instance, the online bookmaker may offer a bettor a 100% bonus on their initial deposit up to a certain amount. As previously illustrated, this would imply that an individual make an initial deposit of 100 euros, then he would get an extra 100 euros to use for wagering. Bettors will most likely be required to play this amount through a number of times within a set period before they can withdraw.
If the bettor’s initial wager turns out to be a loss, some (online) bookmakers may even refund them the money that they lost as a free bet. When giving this type of bonus out, the bookmakers require from the bettors to place a bet with specific odds. Bettors should therefore always make sure that they read the applicable bonus terms and conditions.
Matched deposit bonus
The matched deposit bonus is a bonus that the bookmakers offer which matches the initial deposit of the bettors up to a specified amount. The exact requirements that will need to be met are specified in the applicable bonus terms and conditions.
No – deposit bonus
A no-deposit bonus makes it for bettors possible to place a wager without them having to first deposit a certain amount. The no-deposit bonus is a bonus that allows players to get familiar with sports betting without actually running the risk of losing real money. In some cases, bettors may be required to play the bonus through a number of times.
Bookmakers also offer bettors a free-bet bonus. Bookmakers often match the amount of the first wage that the bettors place. For instance, if an individual deposits and wages 20 euros, then the individual will also receive a free bet of 20 euros. The stake will often not be included in the free bet, so if someone wagered 20 euros on an even-money winner, this individual would then only get 20 euros back instead of the customary 40 euros. In addition to this, the applicable terms and conditions of the bonus will specify whether the bookmaker demands from bettors to play the amount through a number of times before withdrawing the winnings from the free bet bonus.
These are exclusive incentives from (online) bookmakers given to devoted consumers. These bonuses are used by bookmakers to keep their most loyal customers. The loyalty bonus often entails the accumulation of loyalty points that a certain individual earn each time they place a wager. When the individual in question reaches a certain threshold of points, they can exchange them for money, free bets, or any other benefit that has been credited to their account. Depending on the incentive that they receive, they might be subjected to fulfilling certain requirements.
Final remarks on Sports Betting Bonuses
Sports betting is seen as one of the oldest forms of gambling. Because this form of gambling is quite popular, many bookmakers offer sports betting bonuses to new and existing customers. However, when coming across a sports betting bonus, bettors should be aware of the fact that they will be required to meet certain requirements in order for them to be able to withdrawal the sports bonus winnings. In some cases, bettors are better off placing a bet without accepting the bonus offer. For this reason, it is very important for individuals to go over the applicable bonus terms and conditions. Finally, bookmakers do not want their bettors to win constantly, especially when substantial amounts are at play. For this reason, they set certain limits and requirements, such as minimum odds and play-through requirement.