Welcome bonuses are designed to lure in new customers with added value on their first bets and with some strategy you can get the most out of these offers.
Such bonuses can be confusing for new UK bettors but knowing how to make the most of them can make a big difference to your betting experience.
Types of Welcome Bonuses
The first step to maximising bonuses is to know the different types, the most common of which include free bets, deposit matches and enhanced odds. For example with Betano’s welcome offer for new UK customers, Bet £10, Get £30 you can start by betting £10 and get £30 in bonus funds. It’s a great way to get extra value as a new player on the site.
Deposit match bonuses match a percentage of your first deposit. A 100% match bonus will double your deposit so you can bet with double the funds. This sounds great but often comes with high wagering requirements which means you’ll need to bet the bonus several times before you can withdraw any winnings.
Less common are no-deposit bonuses where you can get a small bonus without making a deposit, which is perfect for beginners who want to try out a betting site risk free.
Wagering Requirements and Minimum Odds
Welcome bonuses look great but come with terms and conditions that need to be understood to maximise their benefits. The most important part to look at are wagering requirements, which determine how many times you need to bet the bonus before you can withdraw any winnings. For example a 10x wagering requirement on a £10 bonus means you need to bet £100 before any winnings are withdrawable.
Another important one is the minimum odds requirement. Most free bet offers will require you to bet a qualifying bet at a minimum specified odds.
Time Limits and Expiry Dates
Another often overlooked aspect is the time limit on these bonuses. Some free bets need to be used within seven days, others give you 30 days. If you miss these deadlines the bonus will expire, so it is important to plan your bets and track the expiry dates to avoid wasting these offers.
For deposit match bonuses the time limit also applies to meeting the wagering requirements. If you’re given 30 days to wager the full amount but don’t meet it in time, then any winnings tied to the bonus could be forfeited. Set reminders or use the bonuses as soon as possible to avoid missing out.
Choose the Right Bonus for You
Not all bonuses are the same and the best one for you will depend on your betting style. If you’re a casual bettor, free bets that require minimal upfront deposit may be more appealing. If you’re a regular, more serious bettor, then a large deposit match bonus even with higher wagering requirements may be better value in the long run.
Also check for any game or sport restrictions on the bonus. Some free bets may only be applicable to certain sports or markets. For example a free bet may be advertised for football but exclude in-play markets.
Payment Methods
It’s also worth noting that some bookmakers restrict bonus eligibility based on the payment method used. For example, e-wallets like PayPal or Skrill are often excluded from bonus eligibility. Always use a debit card or another eligible method to avoid missing out on the bonus.
Conclusion
Welcome bonuses are a great way to add to your bankroll but need to be approached with a strategy. From understanding the different bonus types to navigating the terms and conditions, each step is important to get the most out of these offers.