When you are looking for a brand-new betting site to sign up to, it is likely that you will come across all sorts of betting bonuses. So, what are they? Why do they exist? And, perhaps more importantly, what type of betting bonus can you enjoy?
What are Sports Betting Bonuses?
You can see them as ‘free cash’, although it isn’t strictly free cash. There will be terms and conditions attached to it (mostly wagering requirements) What sport betting bonuses are will be a small amount of cash that you can play about with. The cash will be given to you by the bookmaker you have signed up with. The hope is that it will encourage you to test out the online bookmaker and, if you like what you see, stick around for the long term.
Why do Bookmakers Offer Betting Bonuses?
Because it makes them money. Simple as that. Think about it for a second. The vast majority of people gamble in the hope of making a little bit of cash, right? So, online betting sites know that the best way to pull people in is to offer them some free cash.
Most people who search for betting sites are likely to only stick to one site when they have found somewhere to play too. So, betting sites are going to offer fantastic bonuses knowing that if they pull somebody in, they are likely to remain a customer for life. Basically, the site is going to see a bit of profit later on down the line.
What type of betting bonuses can you look forward to?
So, now that is out of the way; what sort of betting bonuses exist? Well, it is impossible for us to cover all of them. Marketing teams are coming up with new ideas all of the time. What we can do, however, is highlight some of the key ones. The ones that you are likely to encounter on both major and minor betting sites.
This type of bonus is actually quite rare. If it does appear, then it is going to be nothing like the types of matched deposit that you see at online casinos. The maximum matched deposit amount is often going to be fairly low (sub-£100, if that), and there will be strict terms and conditions attached to it. As you can probably guess from the name; a matched deposit will match whatever you deposit into your account. This will, more often than not, only apply to the first deposit that you make. However, there is a chance that it could be split over several deposits.
This is ‘most likely’ going to be the main welcome bonus on most online betting sites out there. You simply get given a fixed sum of cash to gamble with. This could either be based on depositing a certain amount into your account or, as often seen nowadays, simply for signing up to a site for the very first time.
They have so much money sitting around why couldn't they overestimate demand, and cut the price if they don't sell enough, probably would get better margins if they made more at a time.
Crazy Good Odds
If there is a major event going on, then many online betting sites will pop up with crazily brilliant odds for ‘first-time gamblers’. As in, astonishingly good odds. For example; a favourite in an event may pay out 10x what it normally pays out. Of course, you will need to play through your winnings several times if you do enjoy this type of bet.
We like to call this type of betting bonus an ‘insurance bet’. Basically, the online casino will guarantee that you do not lose on the first bet that you place. Basically, it is going to be risk-free. If you lose, then they will give you back your initial bet as a bonus.
Current Best UK Sports Betting Bonuses
If you are looking for the best sport betting bonuses around, you will be pleased to know that you don’t need to put in any work. The team here at Legit Betting Sites has done it all for you. Below, you will find a list of what we genuinely believe are some of the best betting bonuses out there. The best part? These are all online betting sites that recommend too. This means you know that you are going to be betting somewhere that is worth your time.