How do bookmakers bonuses actually work in the UK? Image credit: Supplied
Bonuses and free bets are among the most common online better offers. Bookmakers tend to use these as a way to gain new customers and retain existing ones too.
There are different types of welcome bonuses offered by bookmakers when you first join them. It’s best to get familiar with the different types, so you know exactly what benefits you are receiving.
Free bet is one of the most commonly seen offers, which is attractive due to being no risk. The bookmaker will either provide a fixed cash sum for a bet or will match the sum to the amount of your initial deposit. Wager bonus is another common type, which essentially means that to turn the bonus into cash, you must bet a certain number of times, depending on the bookmaker’s rules. Cashback bonus, on the other hand, is when the bookmakers repay a certain percentage from the loss of your bet – but it may be returned in the form of a free bet or a wager bonus.
As you may have already gathered from the above, there is more to consider than just the type of betting offer that sounds attractive. When giving you bonuses, bookmakers will usually have certain conditions or rules that you must meet before receiving it.
For instance, you may be required to make a fixed initial deposit to receive your free bet, or the bonus you receive may only work for certain types of games and events. More often than not, free bets will have wagering requirements too. So, while making use of these freebies is beneficial, it is generally recommended to read through the terms and conditions before signing up for an online bookmaker.
Claiming bonuses in most online bookmakers is very quick and simple. All you need to do is create an account with them, make your initial deposit and place your first bet. The bonus will then be automatically credited into your account. In some cases, the first bet can be fairly small in order for you to receive a bonus (e.g. you may only spend £10 on your bet, but receive £30 in free bets). Keep in mind, however, that it will never be possible for you to withdraw the amount of free bet of the bonus in cash – you can also withdraw the winnings earned with the bonuses. Not only that, you may need to meet certain wagering requirements before you can withdraw those winnings.
The short answer is yes. Most of the online bookmakers will give you a certain period of time or an expiry date by which you must use up your bonuses or free bets. If you fail to do so, these will be automatically removed from your account. However, there are a few bookmakers that give out bonuses with no expiry dates, which may be something to look at if there’s no upcoming events you would like to place bets on.