What Types of Sign up Offers Are There?
The Match Deposit Offer
A deposit bonus offer is a percentage bonus a bookmaker might offer as a new customer offer or to loyal customers that act as an opt-in or sign up offer. The bonus offer works by adding a percentage to the initial first deposit the new customer made. For example, if a new customer were to ‘opt-in’ with the first deposit of £100 with a 100% bonus, the distribution of money as:
£100 OF CONTRIBUTED MONEY= £100 BONUS MONEY
In short, a match deposit bonus offer gives the new customer free money based on a percentage, with larger deposits earning a higher bonus. The bookmaker simply matches the first deposit made by the customer to a predetermined maximum. With the idea of encouraging customers to keep visiting the site and making further deposits some betting sites will offer match deposits on subsequent customer deposits although the percentage of the match may be lower than the initial 100% match offer. For Example:
2nd DEPOSIT OF £100 – 50% BONUS = £50 BONUS MONEY
Although very similar to the match deposit offer, a deposit bonus offer does differ from the terms outlined above. A deposit bonus for new customers is where a guaranteed bonus is offered upon a certain minimum deposit being made. Instead of matching the first deposit, the bookmaker may offer £50 bonus money with a minimum first deposit of £10. For new customers willing to look around and spread their initial betting money around several accounts these betting offers can be more lucrative than depositing all their funds in one single account. For instance, instead of depositing £50 and receiving a £50 bonus from a matched deposit offer, the customer may find 3 deposit betting offers where a minimum first deposit of £10 guarantees £50 bonus money
3 x £10 Deposits = £150 BONUS MONEY
The second example of how betting sites use a new customer offer with deposit bonuses is to offer a larger percentage bonus on the original deposit again with a maximum amount of bonus that can be awarded. It may look like this: 200% bonus up to £200. Put simply the bookmaker is paying twice the amount that you deposit with a maximum bonus of £200.
As with all signup offers and ongoing promotions each offer will come with its own wagering requirements and terms. Always check the offer terms and conditions before opting into any promotion.
First-bet Money Back / Risk-Free Bet Offers
Becoming popular in new customer betting offers is the first bet money back bonus offer, or sometimes referred to as risk-free bet offers or money-back bet offers. A first bet money back offer is exactly as it sounds. If a new customer’s first bet loses then they will have their stake refunded back to them, usually as cash. However, a variation of the refund may be as a free bet instead of cash.
New Players will get a time limit before their qualifying bet must be placed and likely minimum odds to qualify for the bonus. Certainly, there will be a limit on the refund if your bet loses.
Free Bet Offers
Many bookies new customer betting offers involve free bet offers, which are initially very appealing. A free bet is a bet of a set value for which a bookmaker pays the stake. However, a read of a bookies terms and conditions will reveal free bet offers are not free money.
To claim free bet offers, a player will likely have to bet with at least the same value of the free bet offer with their own money. Also, there may be minimum odds and market restrictions on the bets, yours and the free bet. All this before meeting possible wagering requirements that allow you to withdraw your winnings.
How to Choose the Best New Customer Betting Offer
With all the choices and variables that come with Sign Up, Bonuses such as a risk-free bet offer or a bet 10 get 20 in free bets offer, it can be difficult to best identify what betting offers are best for the individual customer. In short, the answer is this:
More Money Contributed = More Extra Money = Better Value
Since most betting offers work from percentages, this, of course, means that the more money a customer deposits, the more value they will get from a new customer offer. Example (with 100% deposit bonus):
£100 contributed, £100 bonus, £200 total
£150 contributed, £150 bonus, £300 total
So in summary, seeing how the bonus is exponential, the more money a customer deposits, the higher the bonus will be. However, this does not mean the bonus is limitless. There is a set maximum bonus each customer can potentially reach which caps the bonus at an agreed-upon limit.
What is the Percentage of the Bookie Sign Up Offer and the Maximum Amount?
Most, if not all, sign up offers have a maximum payout. In an example where the bonus percentage is 100% with a maximum amount of £1000:
- A customer who deposits £1000 will receive a £1000 bonus, with a joined total of £2000
- A customer who deposits £1100 will receive a £1000 bonus, with a joined total of £2100
This ensures there is an optimum amount the recipient should deposit. While this may seem unfair, or even frustrating, this restricts customers from creating an insurmountable withdrawal requirement. By keeping the betting bonus to a maximum, the customer will be able to enjoy their winnings much sooner.
Understanding wagering or “rollover” conditions is vital when it comes to sign up offers and other bookmaker betting offers. The bookmaker is not just giving free money that the customer can immediately withdraw or use however they like. This is why a bookmaker will impose wagering conditions that must be met before any funds may be withdrawn from the customer account. The conditions may apply to the bonus awarded and in some cases to the initial deposit and the bonus.
For example, a new customer offer will state that the bonus bet must be wagered x10 before the customer can withdraw any funds.
BONUS MONEY = £50 X 10 = £500 TOTAL STAKE VALUE
If the bonus awarded by the bookmaker was £50, the customer must stake 10 x £50 in bets = Total betting value of £500, before any withdrawals can be made.
The bookmaker will also impose further restrictions on what bets the bonus money can be used for such as minimum odds, types of bet and time limits. Reading and understanding all the requirements in the sign up offer terms and conditions is vital.
The Minimum Odds That Meet the Turnover Conditions
Conditions in regards to minimum odds a new customer offer may apply will vary, but they serve the same purpose. Minimums are set in place to better serve both the customer with a higher potential return. And online bookies by covering the costs associated with the offer.
It is also very common that a new customer betting offer is bound to a specific minimum odds. That means qualifying bets must be placed using the correct minimum odds stated in order to make the free bets valid. For example, if you have received a free bet, in which it is stated you must place bets on odds, higher than 1.50, then you should bet only on such fixtures. Otherwise, your bet will not count towards the wagering requirements of the bonus offer.
The Withdrawal Conditions
To combat bonus abuse or fraud, all bookmakers enact withdrawal conditions or requirements. These conditions vary from company to company. But generally, need the customer to win a certain amount before they are able to withdraw their winnings. It might be 2X the allotted Deposit or money back offer but it also might be 20 times.
However, if the customer has not claimed a sign-up offer, the money in their account is entirely their own. They do not have to adhere to these conditions and can withdraw their winnings at any time.
How Much Time Do You Have to Meet the bonus/withdrawal Conditions?
Firstly, it’s important not to forget that in many bonus betting offers the bookmaker will set a time limit in which the customer can claim the bonus. It may be that the bonus is automatically added to the customer account once the qualifying conditions are met or alternatively the new customer may need to opt into the offer in order to receive the bonus.
The next requirement a bookmaker will impose on the use of the bonus is the wagering requirement or rollover amount. Bookmakers will give the customer a certain time frame during which they need to complete the wagering requirements. Each bookmaker or offer will have a different time frame, 20 to 30 days to complete the rollover requirement appears to be the most common limit.
The disadvantage of the time frame from the customer’s point of view is the limited period that a qualifying bet must be placed and use the bonus. By placing bets on days or events that the customer would not normally do so in order to comply with the time limit can lead to poorly placed bets and ultimately the loss of money.
By not meeting the wagering deadline set by the bookmaker the customer will generally be forfeiting the bonus, some of the best betting sites will keep the customer informed of how many days are remaining before their bonus expires.
Best Sign up Betting Offers
How Can You Withdraw Your New Customer Offer Winnings?
The new customer must first meet all conditions before they are able to withdraw their bonus. They cannot withdraw the money upfront, or before they have met the criteria, such as the use of certain payment methods. Once the new customer has met all requirements, both the winnings and bonus will be added to their account, and they will be able to withdraw at any time.
Withdrawing funds from your bookmaker’s account should be painless and straightforward. On the other hand, if not it is definitely worth considering changing your bookmaker. Delaying actions are likely to be part of a larger picture of an unreputable bookmaker.
Here are some steps that you are likely to come across when withdrawing funds:
- Login to your account
- Click on “Services” or “My account”
- From the viewable options select “Withdraw” or “Cash Out”
- Input the amount you wish to withdraw
- Click on “Confirm”
Some betting sites may also employ a verification process which will likely include emails and proof of identity.
Can You Combine Deposit Bonuses with Other Betting Offers?
Unfortunately, many betting sites restrict the customer’s ability to combine bonus offers. For example a new customer offer and a daily bonus. This ensures that there is no confusion between customer and bookmaker on what the outcome of certain bets should be. However, it should be noted that policies will vary between companies. If you are unsure about a company’s policy, you should contact them during business hours.
Тhe Advantages of Deposit Bonuses
The main advantage of sign up betting offers is that new customers have access to a larger quantity of money upfront. Although there is no such thing as free money, competition in this industry means bookmakers are offering more and more to attract new customers. This means customers are given the chance to have a headstart when it comes to registering with a new bookmaker. Used correctly, and with a little luck whilst betting, profit can be made from the bonus.
- A trial run of the bookmaker without using your own funds
- A Chance of winning without risking your own money
- Increase your starting capital
- Access non-typical markets
- Something for nothing
The Disadvantages of Deposit Bonuses
The main disadvantage of a sign up offers is the meeting of the wagering conditions of the bookmaker. This means that despite the fact the new customer might be winning, and wish to withdraw those winnings, they must keep wagering until meeting the conditions, in some cases betting on days or events that they would not normally do so due to the time limit imposed on customers when the qualifying bet must be placed. Within the wagering conditions of the betting offers, there are further restrictions that need to be followed. For instance, odds restrictions. Usually, bets must have minimum odds of 1.5 (1/2) thus preventing players from simply betting on a favourite again and again to meet the rollover requirements.
In many cases regarding a new customer offer, it may be that the bonus may be restricted to certain areas of the sportsbook. It could be that the betting offers apply only to horse racing bets or that the money-back bet may only be used in an area the customer is not familiar with. Once all the requirements of a new customer offer are met, the customer is free to withdraw their funds at any time.
What to look for when choosing the best online Bookmaker
With a vast lineup and a forever increasing amount of online bookmakers available to choose from, deciding upon which site or sites a new customer deposits their funds may seem like a formidable task. As the competition grows, nearly all online betting sites now award a sign-up offer and follow on betting offers, choosing the right bookmaker is the valuable first step to making sure the customer’s money is in the right place.
All online bookmakers must be licensed and must adhere to the rules of the body that licences them. Therefore any sign-up offers and subsequent betting offers that may follow registration must follow certain conditions that will help to determine the bookmaker’s reliability and reputability. On this site, our experienced team provides a detailed list of the best online bookmakers on the market, giving an in-depth review of their betting bonuses, the best free bet offers, their reliability and the positives and any negatives each online bookmaker may have.
Here we summarise with a list of recommendations to look for when choosing the best online bookmaker.
The license allows the bookmaker to legally operate in the customers country of residence and the rules that the bookmaker must adhere to. It also protects the customer and helps ensure the correct legal outcome if there may be some form of dispute.
In this industry reputation is key. Many well established long-standing online bookmakers have had the time and experience to warrant a good reputation. This does not mean that the newcomers to the industry should not be given the chance to shine. Research the bookmaker, look for negative reviews or practices that should be avoided.
Sign Up Bonuses
It is always wise to compare the various sign up offers that bookmakers offer to new customers. Free bets or money back offers are the most commonly uses by UK betting sites. Many aspects of a free bet offer need to be understood because of the different requirements each bookmaker makes. A common example of a sign up offer regarding free bets is “bet 10 get 30”, whereby when you place your first bet of £10 you will receive £30 in free bets. Often any winnings procured from these free bets is then paid in free bets and other wagering requirements must also need to be met. Compare the betting sites to find the best free bet offers.
Terms and Conditions
Each bookmaker will have a new customer offer with the aim of attracting new customers and to keep existing customers to continue using their site. All bonuses come with varying terms and conditions, the understanding of the terms and conditions and what restrictions are put upon the customer is fundamental when choosing an online bookmaker. What appears to be a great bonus offer may not be the case once the restrictions have been understood.
Payment and Withdrawal Methods
The diversity of payment options can be a good measure of the bookmaker’s reputation. Having the option to a variety of payment options greatly benefits the customer. It is also important to determine any minimum/maximum limits imposed on deposits and withdrawals and if the bookmaker will have any additional fees when making transactions. A good online bookmaker will not add on any further charges and should be flexible on transaction amounts.
Each bookmaker will impose different time limits on how long a customer has to claim their bonus or how many days the bonus they have awarded is valid for use. Time limits can dictate how often a customer visits the site. Again research into the bookmaker’s bonus offer and the time limits imposed can be a valuable indicator of a good choice of bookmaker.
Quality of the Sports Betting Options
Probably one of the most important factors to consider when looking at what bookmaker to choose is the ranges of sports markets they offer and the type of bets that are available for the customer to use. No customer wants to register and then find themselves restricted to what markets they can place a bet on. A good online bookmaker will offer not only popular sports and major events but also more specialist markets and events from around the world, giving the customer the opportunity to bet on anything from Premier League football to World Cup skiing or Formula 1 to horseracing. Having a variety of sports to bet on comes hand in hand with having a variety of types of bet to be able to place. The best online betting sites will have the quality of choice for their betting markets.
Finally, as we are dealing with online bookmakers, communicating online or via phone, it is important to understand how the bookmaker will communicate with the customer, how available they are, how responsive they are and how adequately they resolve problems or answer questions. Good betting sites have good customer service.
Overview of the Current Available Betting Offers
In conclusion, sign up offers are a great opt-in choice for new customers looking to gamble with more money than currently available. They come in many varieties, but generally, offer bonuses that increase the total amount a customer can gamble at any one time. However, there are some requirements in a new customer offer that must be met before they can withdraw their bonus or winnings. Although, once these conditions are satisfied, the customer is free to do with their winnings as they choose.
What is a Betting Bonus?
Bookmakers have betting offers to attract new customers to their site and to encourage the existing customers to remain loyal. A new customer offer can come in varying forms such as deposit bonuses, enhanced odds, free bet offers or risk-free bet offers. Each bookmaker’s welcome bonus is different so be sure to shop round to find the bonus that best suits you.
What is a rollover/wagering requirement?
A wagering requirement refers to the number of times a qualifying bet must be placed with the bonus money and in some cases also the deposit, before any funds may be withdrawn. These requirements are listed in the terms and conditions of the bonus offer. Understanding the terms and conditions is vital before taking up any offer.
How can I claim a sports betting bonus?
It is important to compare the bonuses on offer as each bookmaker’s new customer offer can differ. Once registered and any qualifying requirements have been met, the new customer can claim the bonus. The bonus may be awarded automatically or the customer may need to opt-in upon registration. It is essential to read and understand the terms and conditions of the bonus offer.
Can I withdraw funds from a welcome deposit bonus?
Yes, customers can withdraw funds from a welcome deposit bonus but only when all the wagering requirements have been met and providing a profit has been made whilst betting with those funds. It is not possible to simply sign up, deposit, receive the bonus and then withdraw the money back. Withdrawal requirements should always be explained in the bonus offer terms and conditions.
Can I sign up and not have wagering requirements?
It is possible to find betting offers or free bet offers that do not have wagering requirements and they are certainly worth searching out. Alternatively, a customer can register with an online bookmaker without accepting any bonus on offer and simply bet with their own money.
Are Betting Bonuses actually worth claiming?
Absolutely. Betting sites are continuously competing with each other to get the attention of a new customer. Each sportsbook will offer a range of betting offers designed to attract the individual player. It could be a sign up offer, moneyback offer, enhanced odds offer or risk free bet offer. The bonus offer is exactly what it says: a bonus, and should be viewed in that way. A good idea is to compare the range of betting offers on the table, find suitable offers for the customer’s needs and select more than one betting site to use in order to to take advantage of the various betting offers available and not be tied to one particular sportsbook.