New betting customer welcome bonuses have been offered by bookmakers through online sites for many years. Welcome bonuses come in many different formats, with various names and monetary amounts. They have all been created to entice a customer to use a certain bookmaker and in return for choosing a certain betting site, a bonus is offered to place bets with.
What is a welcome bonus?
Customers looking to choose a bookmaker to bet with will no doubt have seen several welcome bonuses. They often offer a cash sum as an incentive for signing up to a new account. Once the new betting account has been created they will be credited with the bonus that was on offer. The customer can then use this amount to place bets with. Welcome bonuses are a great incentive to join a particular bookmaker; they essentially allow punters to place bets for free and if a customer is new to the betting experience they offer the opportunity to use and try out betting platforms at little or no expense.
The Different types of welcome bonus
Bookmakers offer new customer welcome bonuses in many different guises. They are often called different names and can be used in many various ways;
Welcome Bonus
A new customer welcome bonus will be a specific monetary amount. As an example, a bookmaker may offer all new customers AU$30. This appears to be a great incentive. Simply create an account and receive free money. What this actually means is that the customer will sign up and the $30 will be credited to their new betting account. This amount can then be wagered on certain betting markets. The $30 cannot be withdrawn into the customers’ main bank account.
Welcome bonus with a deposit
Bookmakers often require the customer to deposit a certain amount of money before receiving a bonus. For example, the player signs up to a new account and then has to deposit a minimum of $10 before the bookmaker will credit the betting account with a $30 bonus.
Once again, the $30 bonus must be wagered according to the bookmaker’s terms and conditions.
Matched deposit bonus
A matched deposit bonus is where bookmakers often advertise large sums of money as a bonus. A matched deposit bonus is given where the customer adds their own funds to their betting account and the amount added will be matched by the bookmaker; up to a certain amount of money. For example the welcome bonus maybe 100% matched deposit, up to $200. This would require the customer depositing any amount of their own money up to $200 and the bookmaker will equal it.
Free Bets
Free bet welcome bonuses seem to becoming less popular however there are some bookmakers that still offer these promotions. A welcome bonus that is offered as a free bet requires a new betting account and an amount is credited to the customer. Free bets cannot be withdrawn and must be used in conjunction with the bookies’ terms.
Welcome bonuses are also known as first-time deposit bonuses, sign up bonuses and first bet bonuses. They all function in very similar ways and customers will receive the bonus upon creating a new betting account.
Welcome Bonus Promo codes
A common feature used by bookmakers, when offering welcome bonuses is a promo code. The bookmaker will offer the amount of bonus and the customer will sign up to create a new account. Upon signing up the customer will have to input a code, which the bookmaker has advertised alongside its bonus offer. It is necessary for the customer to input the promo code because failure to do so will mean that the welcome bonus will not be given.
Promo codes are occasionally referred to as bonus codes and bookmakers use these types of codes to differentiate between the different promotions and offers that customers want to use.
How to use a welcome bonus
Betting customers looking to take advantage of these offers must be aware of the terms and conditions of such promotions. After choosing their preferred bookmaker, the customer must sign up to create a new betting account. This is a simple process of inputting personal details. New customer sign up offers are only available once. So customers need to make sure they have previously never registered their name, email address, contact details, IP address or banking details with the bookmaker; this would invalidate the welcome bonus. The customer should also ensure the correct promo code is entered, if required, upon registering the new account.
When using the bonus, the wagering requirements must be followed. These differ depending on the bookmaker. Welcome bonuses will need to be used on certain sports that have odds usually with a minimum of ½ (1.5) but can be different. There will be a time frame when the welcome bonus needs to be used and completed by and the stake will be excluded from any winnings. There are often other conditions such as if the welcome bonus can be used for in-play markets, how they can be used in conjunction with each-way bets and how any winnings are paid; to name just a few.
In conclusion
Welcome bonuses, in whatever form, are a great way to find a betting customers feet, especially if they are new to online betting. They allow customers to try out how to actually place a bet. This means they can get to know how to move around the bookmaker’s online platform, enhancing the whole experience.
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