Are you a newbie sports bettor? Or, are you perhaps an experienced gamer who is looking for a new sports betting home? Or, are you happy with your sportsbook, but are considering making use of a few of the promotional offers? 

One of the most asked questions is whether you should accept any promotional offers, such as the welcome or sign-up bonus or not. The straightforward answer is: It depends on your gambling intentions, the size of your initial deposit, and whether you intend on going pro or staying as a hobby gambler.

It is vital to note at this juncture that there will always be terms and conditions attached to any bonus. Thus, before you accept the financial reward, you must ensure that you understand the requirements for accepting the bonus. As an aside, you will more than likely need to read the fine print to understand the terms under which the bonus will be paid out.

What is a welcome or sign-up bonus? 

Let’s start this discussion by looking at a succinct definition of a welcome or sign-up bonus: 

Essentially, a welcome or sign-up bonus is an incentive bonus designed to reward gamblers for opening an account with a specific sportsbook. Different bonus amounts are offered by individual sports betting companies like dependent on the initial amount deposited.  

What are promotional bonuses? 

Promotional bonuses are essentially financial rewards offered by bookmakers to existing clients to reward a specific behavior. By way of expanding on this statement, let’s consider the following promotion-types:

Cashback bonus

A cashback bonus is a percentage of the total amount lost as a result of placing losing bets. This promotion amount is governed by an upper limit and is only valid for certain days of the week. For example, a bookmaker might offer 10% back on the total value of all losing bets placed between Monday and Friday up to a value of €500. And, this promotion will be on offer for the current month.

Reload bonus

Succinctly stated, a reload bonus is a promotional offer made available to clients who transfer funds into their gaming account.

This offer is governed by time and amount. For example, if clients transfer a minimum of €100 into their gambling account, the sportsbook will add 10% of this amount to each client’s account. Thus, 10% of €100 equates to €10. Consequently, the sports bettor will have €110 to place bets with. 

Additionally, the time factor can include a weekend, weekdays, and a pre-determined day or number of days.

Live cashback bonus

This promotion targets gamblers who place bets on live sporting events. The rules are that the sportsbook will pay each gamer a certain percentage of the total amount lost while betting on live sports matches.

Essentially, live betting affords the gambler the option of placing bets while the game is unfolding; thereby, allowing the bettor to take advantage of live odds. Most other bets are placed before the match starts. However, as with all sports betting, wagering on live odds is high risk. When offering this promotion, a sportsbook mitigates a percentage, such as 10%, of losses incurred as a result of live gambling.