Betting bonus guide

Betting bookmakers offer betting bonuses to reward people for betting online rather than in a betting shop. It’s saves them money which they are happy to share with you. Betting bonuses are offered by bookmakers in two forms. As an initial sign up bonus or as a regular promotional offer aimed at existing customers. Bonuses for existing customers normally come as enhanced odds and refund offers. Lots of bookmakers offer betting bonuses which causes some people to open multiple accounts or to do bonus arbitrage with a betting exchange.

How do betting bonuses work?

A betting bonus is money from a bookmaker for promotional purposes. Although it’s free it rarely comes with no strings attached. The following types of betting bonus are offered by bookmakers.

  • Refund offers and matched bets
  • Money back specials
  • Enhanced odds

Refund offers

A refund offer is where the bookmaker refunds the player’s first loosing bet up to a certain level.
Infrequently a bookmaker will offer a totally free bet. This is a bet that does not which does not have restrictive terms. This type of bonus is very rare. More often a bookmaker offers a matched bet which is more common. The player’s first deposit is matched up to a certain amount.

Bookmaker bonuses are there to reward people who like to bet regularly. Not necessary every day but enough to justify the bookmaker making the offer in the first. Large betting bonuses normally come with a wagering requirement. The player is expected to bet through a multiple of their first deposit or the amount of the betting bonus. Different bookmaker have different requirements. When selecting a bookmaker their promotions for existing customers should also be taken into account because these can offer good value for money.

An alternative to fixed odds betting would be to try spread betting, which uses floating odds. Spread betting companies like betting bookmakers offer free spread bets to tempt people to give it a try. Spread betting is slightly more complicated than fixed odds betting so be sure to follow some spread betting tips before you bet with real money.

Money Back Special

A money back special is a refund bonus which is normally provided on specific events only. Either to new or existing customers. It may be more generous than the normal betting bonus. Sometimes offered when there is a large sporting event like the Grand National, Football World Cup or Super Bowl.

Can the betting bonus be used on any type of bet?

This depends on the betting bookmaker’s terms and conditions. You can normally use the money on whatever markets are on offer, from horse racing and football through to cultural events. Some betting bookmakers may limit what you’re allowed to bet on, however, this is not often the situation except with money back sepcials.

When does the betting bonus get authorised?

Betting bonuses are offered in one of the following ways.

  • Free Bets are offered once you have registered your details.
  • Free Bets offered once you’ve added money to your account
  • Or you get your free bet once you placed a bet.

A betting bonus is normally credited to the player’s account just after the first deposit. The bookmaker controls when winnings can be withdrawn from the account. For a matched bet this could be after the first bet or after the wagering requirements have been met.

Choosing a betting bonus

Let’s Compare has provided a selection of betting bonuses from the best online bookmakers. Just click through to the betting bookmakers site and register yourself to sign up. This of course is free. When you have registered you will need to verify your account usually by email.