In today’s competitive sports betting world, bookmakers are constantly creating many forms of promotions to attract new players and retain old users. One of the most popular and attractive forms is the betting bonus. This is a promotion that allows players to get back part or all of their lost bets, usually in the form of betting credits or bonuses. With the potential to reduce risk and increase the opportunity to experience betting without spending more real money, betting bonuses are becoming the preferred choice of many players when starting their online betting journey. Let’s learn more about what is a bonus bet? with bestsoccertips through the article below!
What is a bonus bet?
A bonus bet is a form of promotion that sportsbooks use to attract new players to their platform. It is a promotion that allows players to get their money back if they lose on sports bets, usually in the form of a bonus bet or site credit. Instead of losing the entire amount of their bet, players will receive some or all of it back, depending on the bookmaker’s terms. While not all bookmakers offer bonus bets in cash, it is still an attractive way for players to reduce their risk when starting out in sports betting.
Sportsbooks, especially in competitive markets like the United States, regularly offer attractive promotions to attract players. One of the most common is the new player bonus bet promotion. In these promotions, players can receive a bonus bet or a refund if their bet loses. Bonuses can be huge, sometimes up to $1,500 or even higher, depending on the bookmaker’s policy.
How do bonus bets work?
The way betting bonuses work is usually quite simple, but there are some important terms that players need to be aware of. When a player participates in a betting bonus promotion, the bookmaker will provide a bonus bet amount equivalent to the amount the player initially wagered. If the player’s bet wins, they will receive the winnings from the bookmaker, and the bonus will not be refunded. However, if the bet loses, the player will receive a bonus bet amount back, instead of losing the entire bet.
Bookmakers often stipulate a maximum amount that a player can receive from this promotion. For example, some bookmakers allow players to bet up to $1,000 and will refund the bonus bet if the bet loses. Similarly, if a player bets an amount larger or smaller, the bonus will be calculated as a percentage of the amount wagered. For example, if a player bets $500 and loses, they can get $500 in bonus bets back.
To get the most out of this promotion, players need to understand how to calculate the value of the bonus bet and use it effectively. If the player bets correctly and wins, they will not only keep the winnings but also earn an additional profit from the bonus bet program.
What happens if you lose a bonus bet?
When a player loses a bet and gets their bonus bet back, it is important to note that they do not get their original bet back, but instead the bonus bet. This can be inconvenient for many people because they cannot withdraw their winnings immediately. Bonus bets are not cash and need to be used to place bets on subsequent bets. Only when the player has met the wagering requirements (which may involve placing a certain number of bets with the bonus bet) can they cash out their winnings and make withdrawals.
For example, let’s say a player bets $1,000 on a match and loses the bet. Instead of losing the entire bet, they will receive their $1,000 bonus bet back. However, the player will have to use this money to place other bets. If they win on subsequent bets, they will receive the winnings from those bets. However, the initial bet will not be refunded, which means that the player may lose some or all of the bet if he does not win in the following bets.
How to use a bonus bet?
Once a player receives a bonus bet, they need to use it to place future bets. However, it is not always possible to use the bonus bet on any match. Bookmakers often have certain conditions on how to use this bonus, such as wagering requirements with minimum odds or specific bet types.
One important thing to note is that bonus bets cannot be withdrawn immediately. Before the bonus bet can be converted into cash and withdrawn from the account, the player must complete the wagering requirements. This can be a challenge for players who are not familiar with the rules of the promotion. However, if players know how to make good use of the betting opportunities, they can convert this bonus bet into a significant profit.
How to cash out bonus bets
To cash out bonus bets, players need to meet wagering requirements set by the bookmaker. These requirements may include wagering a certain number of times or betting on specific odds before they can withdraw their winnings. For example, a bookmaker may require players to wager at least 5 times at odds of at least -200 before they can withdraw their winnings.
If a player fails to meet the wagering requirements, they will not be able to withdraw their winnings from the bonus. This can be frustrating, but if players manage their bonus bets and make smart bets, they can take advantage of opportunities to cash out their bonus bets.
Effective bonus betting strategies
When betting online, using bonus bets strategically can help players increase profits and minimize risks. Here are some popular strategies that players should consider.
Arbitrage betting
One of the popular methods is arbitrage betting – where players bet on all possible outcomes of a sporting event, using odds from different bookmakers. If done correctly, players can secure a profit regardless of the outcome of the match. In case of losing the initial bet, the refunded bonus bet will help you continue the betting streak without having to spend more real money.
Using odds and odds tools
Using specialized tools such as OddsJam, RebelBetting or reputable odds platforms helps players find the best odds on the market. These tools provide real-time data, helping players make informed decisions to get the most value from their bonuses.
Smart bonus management
In addition to finding good betting opportunities, it is also important to manage your bonus money. It is recommended to split your bonus into several bets instead of placing all of it on one bet. This approach extends your playing time, increases your chances of winning, and reduces the risk of losing your entire bonus in one bet.
Final Thoughts
In short, what is a bonus bet? Bonus bets are not only an attractive form of promotion but also a powerful support tool for new players in getting acquainted with sports betting without worrying too much about financial risks. However, to maximize the value of this type of promotion, players need to clearly understand the accompanying conditions, apply reasonable betting strategies and manage capital effectively. If you know how to take advantage of it, bonus bets can not only help players preserve their initial capital but also bring real profits from sports betting.
See More: What is a negative odds? When should you choose negative odds?
