The first bonus in recorded history was distributed by Coca-Cola in 1887. It was a voucher that allowed the holder to redeem one free glass of Coke at any dispensary. The net result of this promotion is that it encouraged vendor and consumer adoption; consequently, by 1895, Coca-Cola was sold in all US states. And, the benefits of this promotion are still felt by Coca-Cola today. The brand is a household name, and Coke is the world’s best-selling carbonated drink.
While this bonus is not directly relevant to sports betting, it shows the power that a free offering holds over people. In 2012, researchers set out to prove the impact of bonuses and promotions on people’s psyche. One set of participants of this study received a $10 voucher to use when shopping online while the control group did not receive anything but were still expected to shop online for the same products.
In summary, the findings were as follows:
The people who received the coupons were happier, had decreased stress levels, their heart rates dropped, and their anxiety levels were lower than the control group of people who did not receive anything.
Sports betting bonuses
Thus, the question that begs is, do sports betting bonuses make a difference to the size of an individual gamer’s bankroll?
By way of answering this question, let’s look at the different bonus-types on offer. At the outset of this discussion, it is essential to note that Bet9ja is a typical example of how bonuses are offered on online sports betting sites.
Welcome bonus
The welcome bonus, or sign-up bonus, is an offer directed at new clients. It is a form of greeting. And, either it is a percentage of your initial deposit, or it is a fixed amount dependent on the amount transferred into your gambling account.
Reduced Juice Lines
The sportsbook adds a small percentage to each wager as a commission for facilitating the bet. This amount is known as the house fee, rake, or juice. Thus, a reduced juice line is a wager where the house (sportsbook) has reduced its commission; thereby, allowing gamblers to win more money on a particular bet.
Reload bonus
Succinctly stated, a reload bonus is offered to clients if they deposit money into their gambling account to fund their bankroll. Again, this is either a percentage of the amount deposited or a specific amount if a stated minimum amount is paid into the client’s account.
Cashback bonus
Though this promotion is not as popular as some of the other bonus-types, sportsbooks will sometimes offer it, so it is worth knowing about. Essentially, a cashback bonus is an offer by the bookmaker to pay a percentage of a gambler’s funds that were placed on losing bets. Thus, if an individual gambler goes through a losing streak, the house will sometimes offer to repay a percentage of the total monies lost back into the gamer’s bankroll.
Swag and gear
Sports bettors are typically big sports fans; consequently, sportsbooks offer gamers free gear such as hat, hoodies, and t-shirts from their favorite teams. Even though it isn’t money, sports fans still love the idea of being able to wear their team’s actual kit.