Sports betting is a great way to make money and have fun. Once you have mastered reading odds, researching teams, and placing wagers, you will be on your way to a good payout. You can use the same skills to boost your winnings in online gambling sites and kill two birds with one stone. An even better way to improve your winning chances is to use bonuses. But what are they, and how do they work?
What Are Bonuses?
You may have encountered the term bonus on bookie sites. What does it define? A bonus is an incentive bookies offer to punters, encouraging them to use a site. And it can take on the following forms:
- Signup bonus: This option is available to new punters who sign up on a site. Usually, it involves a cash reward. E.g., all new players on a site might get $50 to use on games.
- Deposit bonus: This reward is available to punters who deposit money into their accounts. It often applies to new players, but existing players may also qualify if they deposit large sums.
- Referral bonus: Punters who successfully encourage other punters to sign up on a site can get a cash bonus from bookies.
- Loyalty bonus: This option applies to long-term punters on a site and is a way to encourage them to keep using their current bookie.
Bookies offer these bonuses or their variations to maintain and grow their market share.
Factors to Consider When Choosing Bonuses
Bonuses, like sports betting sites, are not equal. And to find the right one for you, it’s best to consider the following factors:
- Validity: Bookies allow you to use your bonus within a limited time. Often, the period is 30 days, but it can sometimes be shorter. So, you must choose an option that gives you enough time to find the right match to wager on without feeling rushed. Otherwise, the bonus can expire before time or push you to make a rushed decision with low economic value.
- Wagering Requirements: While many bookies offer lucrative offers, you should look beyond what they show you. Often, stringent terms lurk in the terms and conditions. For example, you may find that a bookie gives you $100, but you must wager it five times before accessing your earnings. The chances of losing the money after five tries are high, reducing your access to the perks. Other rewards only apply to specific games and may not align with your sports betting preferences.
The best way to gauge a bonus is to read its terms and conditions. Else, if you do not know the fine print, you may sign up for something that does not favor you.
How to Use Bonuses Wisely
So, you have read the terms and conditions and figured you have a good deal. What next?
- Research teams: Sports betting requires punters to put in some work before placing wagers. And the best approach is to find out as much as you can about teams before they go head-to-head. That way, your wager will not be gut-based but will have predictive analytics supporting it. Often, people do not give much thought to the outcome because they are using a bonus. But if you use the bonus right and clinch a win, you will have more money in your account.
- Take it slow: Assume a bookie gives you $150 to use on sports bets. Should you wager it all? The key lies in spreading the cash through several games. Doing so might reduce your earnings but it also minimizes your risk exposure. For example, if you use $50 each on three games and lose two wagers, you will have won the third with at least $50. So, don’t spend all your reward in one place.
Treat the money as if it is yours, and you will have a much higher chance of keeping it and doubling it. Also, do not place a wager on just any game – choose one with good odds and a high probability of a favorable outcome.
