With the vast amount of online sportsbooks on the market, picking the right one can be easier said than done. Betting sites are constantly competing to entice new customers with the best bonuses, which is fantastic news for punters. But with so many types of bonuses out there, how can you be sure which is best for you?
Matched deposits are some of the best online betting bonuses available, scouring the internet for the top betting sites with this deal. As well as finding the best matched deposit offers for sports betting, we’ve got the lowdown on everything from wagering requirements to how to claim your bonus cash. Whether you want to bet on football, tennis or horse racing, and whether you’re a high roller or a casual bettor, there’s something for everyone – check it out!
What is a matched deposit bonus?
Matched deposit bonuses are pretty straightforward – your bookie will match a percentage of your first deposit in the form of bonus funds. Most bookies offer between 50% and 100% deposit matches, but some bookies go as high as 200%. The bonus cash you can earn is usually capped at a certain amount, so you might see these advertised ‘100% matched deposit up to £100.’
Understanding how they work is pretty simple, too. For example, if you claim a ‘50% matched deposit up to £100’ you’ll receive half of what you deposit in the form of bonus funds, up to £100. So if you deposit £200, you will receive £100 in bonus funds, taking your total bankroll to £300. Of course, you could deposit over £200, but you would only receive the maximum £100 bonus.
The best thing about matched deposit bonuses are that they give your bankroll a very healthy boost. This means you can take chances on markets you might not have risked with your own cash, or perhaps back an underdog instead of playing it safe.
Matched deposit bonuses also offer flexibility in the way that you don’t always have to make a hefty deposit to activate the bonus- all you need to do is make the minimum deposit. Whether you want to claim the maximum bonus funds in your ‘100% up to £30’ bonus, or prefer to claim on your £15 deposit- the choice is yours.
What else do I need to know
Working your way through the terms and conditions of bonus offers can seem a little daunting at first, but fear not – we’ve got you covered. Take a look at the following guide to get to grips with everything you need to know when comparing matched deposit bonuses.
Something that you should always look out for when browsing matched deposit bonuses are the wagering requirements. Wagering requirements mean that you will have to wager the value of your deposit and bonus fund a certain number of times – usually 6 or 7 – before you can withdraw the bonus and any associated winnings.
Let’s say bookie offers a 50% matched deposit up to £50, with a 6x wagering requirement that applies to both your deposit and bonus. You make a deposit of £100, earning £50 in bonus funds. This means you’ll have to wager £900 before you can withdraw your winnings- (£50 + £100) x 6 = £900.
Whilst these kinds of terms are commonly seen across bookies, they don’t apply to all matched deposit bonuses. For example, Betway allows players to use their matched deposit bonus funds without any wagering requirements, providing they activate the bonus by placing a bet at minimum odds. This is great, but these terms are usually exclusive to smaller bonuses, so if you’re looking to claim big you’ll have to meet the wagering requirements.
Matched deposit bonuses often come with minimum odds restrictions, which often also apply to the wagering requirements. These restrictions mean that you can only use your bonus funds to place bets over a certain price, specified by the bookmaker. In a similar fashion, some bookies will only allow for bets placed above a minimum odds threshold to contribute towards completing the wagering requirements.
For example, if the minimum odds are 4/5, you’ll only be able to satisfy the wagering requirements with bets higher than this. The good news is that once you’ve met the wagering requirements, you’ll be able to use your winnings without any minimum odds restrictions.
Time is of the essence when it comes to matched deposit bonuses. You’ll usually have a limited amount of time in which you can complete the wagering requirements for your matched deposit bonus. This will be clearly displayed in the terms and conditions, and will vary between sites- sitting at anything between a few days and 30 days. If you don’t managed to complete the wagering requirements in this specified time period your bonus funds will expire, along with any winnings you made with them.
How to claim your matched deposit bonus
- Compare bookies
With so many bookies out there, it’s important to take your time to find the best deal for you. That’s where we come in – take a look at our carefully selected list to find the top sports betting sites with the best matched deposit bonus. Compare bookies, considering odds, market depth, mobile compatibility along the way, and select the bookie that stands out to you.
- Check the terms and conditions
As with any kind of online betting offer, it’s important to check the small print just to make sure you’re all clued in. Matched deposits usually come with wagering requirements and time limits – give the Ts & Cs a read so that you have a clearer picture of exactly what you need to do.
- Sign up and enter the promo code
Once you’ve checked out our reviews and chosen your bookie, it’s time to sign up. Follow our link to head straight to the registration page. This is a quick and easy process and will only require some basic details – don’t forget to enter the promo code for the bonus offer when you register!
- Deposit and claim
Once you’re all signed up, head over to the deposit page, select your preferred payment method and enter in the amount you wish to deposit. It may be tempting to make a big deposit to claim a large bonus, but remember to always bet within your means.
- Start betting
Once you’ve made your qualifying deposit, your bonus will be activated and added to your bankroll, ready for you to start betting. You’ll be spoilt for choice when it comes to selecting a betting market at these top bookies, so check out what’s on offer, weigh up the odds and place your wager. Have fun!
Ready to claim your bonus?
Now that you understand the basics of matched deposit bonuses, it’s time to choose your bookie. Not sure where to start? We’ve whittled our list down to the best sports betting sites on the market, so we’re sure you’ll find one in our list to suit you. Take a look, compare different sites and claim your matched deposit bonus today!