Due to rapid technological advancements, betting and online casino has never been easier and we are constantly seeing new sportsbooks. With most bettors now using the apps and websites of their favourite sportsbooks and casinos, they have the ability to wager at the click of a button.
In such a competitive market, gambling companies are always trying to attract new players as well as retaining regular players. The best way they have found to do this is by utilizing promotions and offers for existing and new customers.
With so many different kinds of promotions and bonuses, it can sometimes be a little confusing. But fear not, here we will walk you through the most common promotions you will come across at a sportsbook or an online casino.
Free Bets
Probably the most common and straightforward promotion, a free bet is just as easy it sounds. Your provider of choice will drop bonus funds into your account to bet on sports.
These are non-withdrawable funds meaning that you may only withdraw any potential winnings after using your bonus funds. Whilst often available to use across a number of leagues and sports, some may be restricted to specific games or leagues.
These are often credited to new customers as a sign-up bonus but there are plenty of sportsbooks who will reward loyal customers with bonus funds.
Another thing to note is that most all free bets do not return stakes on winning bets. For example, if you used £5 bonus funds on a winning 10/1 bet you would receive £50 instead of £55 if you were to use real cash.
Free Spins
These are of course the Free Bets of online casino and the most common casino bonus. Again, the way they are awarded differ depending on your provider.
Some casinos will offer you free spins immediately upon signing up, meaning you are free to use your bonus straight away. Others may require you to wager a certain amount before you receive your spins e.g. wager £10 on casino receive 25 free spins.
Risk Free Bets
Although less common than free bets, risk free bets are just as straightforward. Place a bet with real cash and if it loses receive your money back in cash.
There will essentially always be a cap on the amount you can claim back on risk free bets. For example, it will often be something like Risk free bet up to £10.
There are similar bets that will offer a similar return method, however they will return your stake as a free bet rather than as cash.
Deposit Bonus
This promotion is often available for new customers on both sports and online casinos. The way this bonus is awarded differs depending on which app you use.
For example, you could get a 100% matched deposit bonus in which your first deposit will be matched by the casino. So deposit £10, receive £10 in bonus funds.
Another method could be a 50% matched deposit, so deposit £10 receive £5. These offers will also come with a cap e.g 100% matched deposit up to £50.
Bet And Get
A bet and get bonus is similar to a deposit bonus, with the difference being you must wager and settle your bet before you can receive your bonus.
These bonuses will often come in the form of something like Bet £5 and receive a £5 free bet to use in-play on a specific game. These funds, like other free bets, will be stake-not-returned bets.
No Deposit Bonus
This is another common bonus offered to online casino customers. These are free bonuses that require no deposit from the player.
No deposit bonuses can be offered to new players so they can try out new games or existing customers as part of a loyalty scheme.
They can be anything from free spins or free chips to play on table games, to free bingo cards or scratch cards.
If you are a frequent user of a particular casino or sportsbook, you are likely to be valued as a customer, thus in their loyalty scheme. This means that you are more likely to be eligible for bonuses and promotions. This is to incentivise you to carry on using their app.
You should always read the terms and conditions of your bonus before accepting and starting it, especially if it requires you to make a deposit. Casino bonus funds/spins often include wagering requirements that you must meet before you can withdraw your funds and the requirements could potentially be high.
For example, a 10x wagering requirement on your £10 bonus funds means you must use up all of your bonus funds at least 10 times before you can withdraw any winnings.
Free bets will also usually have a minimum odds boundary that you must meet to use them. For example, you may receive a £5 free bet that can only be used on markets priced 1/2 or higher.
The same goes for bet and get and risk-free bonuses, which will also have a minimum market price.
Hopefully this article has given you a better idea of what you are being offered as a new or existing customer for a casino or sportsbook. Make sure you always read the terms and conditions but most importantly, make sure you have fun!
Disclaimer:
- As per the Public Gambling Act of 1867, all Indian states, except Goa, Daman and Sikkim, prohibit gambling
- Land-based casinos are legalized, with certain guidelines, in Goa and Daman, as per the Goa, Daman and Diu Public Gambling Act 1976
- Land-based casinos, Online gambling and E-gaming (games of chance) are legalized in Sikkim under the Sikkimi0Online Gaming (Regulation) Rules 2009
Only some Indian states have legalized online/regular lotteries as per and subject to the conditions laid down by state laws. Kindly refer to the 0same here
- Horse racing and betting on horse racing, including online betting, is permitted only in a licensed premise in select states. Kindly refer to the 1996 Judgement by the Supreme Court Of India here and for more information
- This article does not endorse or express the views of Qrius and/or any of its staff.