Bet Bonuses: What Are They?
There are lots of details that must be explained about Betting Bonuses to allow a gambler to effectively profit out of them, which means the mere answer to the question above may be simple but requires lots of further explanations.
Betting bonuses are in essence promotions offered by the gambling houses to the customers.
A betting odd is a special kind of ‘product’, the same applies to spinning the reels of a slot game. In a way, the betting market offer ‘services’ more than products; the past of the industry where we had ‘paper’ receipts could give a false notion that they offer ‘physical’ products.
It is important to understand the nature of the betting industry to grasp how the word ‘promotion’ has a very particular meaning in th world of gambling.
We could say that these ‘promotion’ try to offer the users basically two advantages:
- To minimise the risks of losing betting funds
- To enhance the chances of winning
In a way we can say that ‘normal retail shops’ offer promotions more similar to the advantage ‘a’ than ‘b’, because ‘discount’ normally means the purchase power of the clients are kind of ‘saved’ when a discount is offered.
There are very distinct kinds of bonuses that apply to casinos and sports betting and the nature of these promotions can be very different depending on which ‘section’ of these sites we are looking at.
Let’s start with the most ‘universal’ betting promotions and then look at the ‘special’ ones that apply more to casinos or sportsbooks.
This is a typical ‘b’ type of bonus, i.e. it enhances the chances of winning by adding value to the betting funds deposited at the site. In general, they are good to be used at both ‘sections’ of the site.
These promotions often come in the form of a ‘deposit match’
Normally more associated with sportsbooks, they are at times also applied to casinos. In simple terms, the first bet could be refunded to encourage the users to engage in some gambling activities. No deposit promotions would be a variation of refundable bets that don’t require true risk. At times free bets are given to users that deposit money, which means some types of bonuses are linked to other types.
The Free Spins are thew most classic casino bonus, and they simply free rounds to test the virtual machines. The usual offers include free spins related to deposit bonuses, i.e. after depositing some funds the user can earn some free rounds at specific slots (normally very famous ones displayed at the cover of the casinos) but some bonuses are good to be used at the entire list of slot games of the casino.
Free spins good to be used at Roulette games are less common but also exist.
The deposit bonus is the most important one of this market but free bets are becoming increasingly popular and there are special promotions like enhanced odds that offer boosted rewards in case the punter wins the bet.
Regardless the kind of bonus and their ‘destination’, i.e. casino or sportsbook, there will always be wagering terms – they are a number of ‘rules’ that need to be followed to transform the promotional betting funds or free spins in ‘real life money’. Some times are far more ‘realistic’ than others when ‘proposing’ their terms.
The smartest thing to do when comparing bonuses and potential new sites to open an account is to compare these terms beforehand because most sites will ‘take the bets’ with the bonus funds but your ‘potential problems’ will only happen when you try to withdraw profits that were ‘created’ by the free promotional funds.
Betting Bonus: How to ‘see’ them
While some sites may advertise the bonus as a key strategy or main one to profit, you rather see them as a secondary way to increase the strenght of your betting budget and make the most of your chances. At the end of the day casinos will be all about luck – although strategies to ‘spread’ your chances across more rounds can be put in practice – and sports betting will always allow you to bet using a mix of skills and luck.
The best way to bet wisely is to decide what kind of betting is better for you: sports betting and casino betting. Check our specific guides to learn more about the two big markets of the world of online gambling.