Bookmakers want to offer their customers the best possible experience. They spend considerable sums of money on advertising and online betting platforms whilst providing numerous betting markets with attractive odds.
The bookies want customers to join them and once they’ve placed their first bet, they need them to continue playing.
One such way the betting sites are able to achieve continuous playing is through their loyalty bonuses.
Loyalty bonuses vary depending on which sportsbook is being used however, there are many similarities between them. They are offered to attract existing customers to place further bets and are presented in many different ways.
Types of loyalty bonuses
As far as regular betting is concerned, the bookmaker sets the odds on all of the sports markets. If the betting customer agrees and considers the odds to be of value then the bet is placed.
To keep customers interested and to offer some loyalty, bookmakers have introduced enhanced odds promotions. This means that on certain sports betting markets, bookmakers offer customers the opportunity to bet on increased odds that may provide more value and possibly higher returns on their stakes.
Enhanced odds offers are often called different names, depending on which bookmaker is being used. These enhanced odds promotions are usually referred to as Price Boosts, Bet Boosts, Flash odds and Odds Boost; they more or less function in the same way.
Any enhanced odds promotions regardless of what they are called will have terms and conditions applied. They will be available to existing customers and It is quite common for them to be limited to single bets and to have a stake limit. These odds will be available for a limited time; usually the immediate lead up to a sporting event. They are designed to entice the customer to have a gamble, where the odds may not have been attractive enough.
Occasionally some bet boosts are offered on certain sports like horse racing. As there are often frequent races, customers will be given the opportunity to use a certain number of enhanced odds offers per day.
Double odds are also offered as a loyalty to existing customers. Of course, these are very limited and apply to certain markets. The bookmakers will make it clear on their betting sites which markets are being given these price enhancements.
Many betting sites offer existing customers free bets as a way of encouraging them to play. Free bets are usually given as winnings and cannot be withdrawn as real money. The free bet can be used to place bets and will be deducted from any winnings. Often free bets are given on certain sporting fixtures and there will usually be terms associated with them. The conditions can include minimum odds and which markets they can be used on. There will normally be a timeframe in which the bet must be completed.
Opt-in to Offers
Certain bookmakers are offering very high odds on certain sporting events. They require their customers to opt-in to these offers, which means they become eligible to use it. By encouraging customers to opt-in certain offers, it can almost give an impression of being exclusive.
An accumulator (acca) is 3 or more selections within a bet. The more selections that are made the higher the odds will be, however the higher the chances of the bet losing. As each leg of the acca wins the winnings roll over to the next selection, which can make the returns very appealing.
Although accumulators are very popular, the nature of such a bet can mean it fails. An incentive used by bookmakers is Acca Insurance. This offer entitles customers to place accumulator bets and if one leg of the acca fails to win then the stake can be returned.
The number of minimum legs the acca must be varies depending on which bookmaker is being used; most require a minimum accumulator of 4 or 5 selections. The stake is usually returned as a free bet.
In-Play or live betting is a very popular way of betting and customers will find markets on a huge number of sports. To encourage customers to place these types of bets, some bookmakers are offering the chance to get something back even if their bet has lost. This is known as In-Play losses and a certain percentage of the loss is given back to the customer, usually as a free bet. The percentage will vary and not all markets will be covered.
Best odds guaranteed
This is not available on all markets and is more common on horse racing. Customers are offered the best odds guaranteed, which means that if a price is taken before an event but the actual starting price is higher then the better odds will be awarded to the punter.
There are also some bookmakers that offer the best odds on soccer. This can be limited to certain leagues, but encourage customers to continue using them for soccer bets.
To encourage regular play, bookmakers have started to offer punters the opportunity to create bespoke bets; by getting social. Customers can use Twitter or Facebook to request odds on bets that they have created. These have many names but are usually referred to as #requestabet or #priceitup. Bookmakers will reply with what price they are prepared to offer.
There are many ways and methods bookmakers use to encourage their customers to continue using their service. These betting sites want customers to stay loyal and will reward them with some appealing odds and offers. Not all bookmakers offer all of the above bonuses and as always there are terms and conditions associated with any betting promotion.