With so many sports betting sites out there, the industry is super competitive. This means sites are battling it out in a bid to gain new customers, and welcome bonuses are one of the prime tactics used for this. This is great news for bettors, as it means there are heaps of great deals just waiting to be taken advantage of. Whether you want to bet on soccer, boxing or Formula 1, there’s a welcome bonus out there for you. But with such a vast choice, knowing which welcome bonus or sign up offer is right for you can be a little confusing. To help you out, we’ve got the rundown on everything you need to know about new customer offers at sports betting sites.
Types of welcome bonus
There are several different types of welcome bonuses on offer across the sports betting world, each offering you a different way to bet and win big on the house. Want to know which new customer deal is best for you? We’ve covered the most popular welcome bonuses at online sportsbooks.
Free bets
Free bets are one of the most common welcome offers and can be a great deal for new gamblers. To claim yours, you’ll usually need to make a minimum deposit or make a bet of a specified value. The value of bonus bets will depend on your choice of betting site, but they usually range from $10 to $50. While some sites will give you a single bet worth the stated value, others split the value across separate, smaller bets.
Deposit bonuses
Deposit bonuses see sports betting sites reward new players for making their first deposit. This reward comes in the form bonus funds equal to a percentage of the initial deposit, which can be used to bet on your favourite sports and can range from 25% to as much as 200% at some sports betting sites. Deposit bonuses usually have a limit, such as ‘up to $50’, so be sure to keep an eye out if you’re a big spender.
Some sports betting sites offer similar rewards in the form of a matched bet. This means you’ll receive bonus cash equal to a percentage of your first bet.
Enhanced odds
This bonus is great for all kinds of bettors – you can use it on a relatively safe bet to give you a decent chance of winning an increased payout, or you could go for a bet that already has pretty long odds and try to get a huge payout.
What to consider when choosing your welcome bonus
Welcome bonuses are a great way to boost your bankroll, but it’s important that you understand exactly what you’re signing up to before claiming yours. You should always check the terms and conditions to make sure you’re getting the best deal on the market. Here are the key factors to consider before you sign up to a sports betting welcome bonus.
Qualifying requirements
Most sign up offers and welcome bonuses come with conditions you’ll need to meet to qualify for the reward. This usually involves making a minimum deposit or placing a bet of a certain value. These values will vary for each bonus, so be sure to check in the terms and conditions.
Minimum odds
Many sports betting welcome bonuses are subject to minimum odds, and the qualifying bet you make to claim the bonus may also be affected by these. These odds requirements could mean you won’t necessarily be able to bet on your preferred market with your bonus funds, so it’s best to read the terms and conditions before you sign up.
Wagering requirements
Some signup bonuses have wagering requirements, which determine how much you’ll need to wager before you can withdraw any bonus winnings. Wagering requirements on sports betting bonuses tend to be lower than casino bonuses, and some betting bonuses have no wagering requirements. However, it’s important to understand these in case they do come up.
Time limits
Your new customer bonus won’t be available forever, so be sure to strike while the iron is hot. Not only will you need to meet the wagering requirements, but you’ll also usually have to do so within a specified time period. This time period can range from a matter of hours to as many as 30 days and more, so be sure to check before you sign up.
Market restrictions
Some bonus bets are only available to use on certain markets, such as outright win or in-play. You may also find that you’ll be restricted in terms of the sports you can bet on with your bonus funds.
How to claim your sports betting welcome bonus
- Browse and compare
First things first, you need to check out what bonuses are on offer at each sports betting site. With so many sites to choose from, narrowing down the list can be tricky. Our hand-picked list of the top betting sites with the best welcome bonuses makes it easier to compare each bookmaker and select the best welcome bonus for you. Don’t forget to consider market depth, mobile compatibility and the odds at each site! - Understand the terms and conditions
It’s important to read the small print before you claim your signup bonus so that you understand exactly what you’re signing up to – the biggest numbers aren’t always the best deals. Make sure you understand everything from qualifying requirements, to wagering requirements and withdrawal limits before you sign up. - Sign up
You’ll need to create an account before you can claim your sports betting welcome bonus. This should only take a few minutes. Don’t forget to enter your welcome bonus promo code and opt-in to the welcome bonus at this stage. - Deposit and claim your bonus
Unless you’ve claimed a no deposit welcome bonus, you’ll need to deposit to claim your bonus and start betting. Head to the cashier, choose your preferred payment method and confirm your deposit amount. The best sportsbooks process most deposits instantly, so you can start betting right away. - Bet
With your deposit and bonus funds in your account, you’re ready to make your wagers. Good luck!
Compare and bet
Now you’ve had a taste of the sports betting bonuses on offer, you’re probably keen to find your perfect bonus deal and start betting. Whether you’re in search of free bets or deposit match deals, there are plenty of opportunities to claim some bonus funds. Not sure where to start? Check out our list of the top online sportsbooks with the best welcome bonuses to find a favourite. All you need to do is compare, pick a top site and sign up to start betting.
