What is a Betting Bonus?
A sports betting bonus is a freebie or a promo (that’s never free) that bookies most often use as a marketing tool. Why a marketing tool? Well, how else will a new bookie compete against the best? The online sports betting market in Canada is saturated with betting sites, and they all offer betting on a wide range of sports. They do differ in other aspects such as odds as well as the bonuses they offer.
When you join sports betting sites, chances are bonuses will be in the focus. New players will most likely claim a deposit match bonus when they register and make a deposit. Some sites hand out free bet offers to newly registered bettors. One way or another, the betting bonus is an effective tool that ‘converts’ many bettors.
The best online betting bonuses have the power to bring an army of bettors to a new betting site. Every online bookmaker is fighting for its place under the sun, and using welcome bonus offers and free bets as the weapon of choice.
If you’re looking to learn more about the best deposit bonus offers and how you can use them to your advantage, this is the guide for you.
Types of Betting Bonuses
There are plenty of different bonuses and promotions you can earn at the best betting sites in Canada. It’s not just welcome bonuses you should look forward to. Deposit bonuses are common too, and free bets are as common as a morning cup of coffee. There’s plenty of free money to get at online bookies and place sports bets easily without breaking the bank.
Al betting promotions are not the same, of course. They come with a different set of rules you need to follow, so don’t think of them as free money. On the positive side, you’re still getting a nice bonus amount that will allow you to put extra bets on your slip.
Welcome Bonus
First deposit bonus offers are the initial type of bonus you’ll come across at online betting sites. They’re common in the online casino industry too. A sportsbook sign up bonus typically consists of a first deposit boost or a free bet. It all depends on the sportsbook, but free bet offers seem to be more prevalent.
With a 100% first deposit bonus offer, you’re essentially getting double the money to start with. For example, if it’s a common 100% up to EUR 100 on offer, you can start with a maximum of EUR 200. Of course, this will require you to cover the qualifying bets or deposits to get the bonus money.
This bonus offer is available for new bettors only. By new bettors, we mean first time customers that have just joined the site. Don’t even try to fool the bookie by using a VPN to claim several instances of the bonus. It doesn’t work that way, and might get you banned. Nevertheless, matched deposit bonuses are pretty common for welcome offers, and a great way to start your online betting journey.
Free Bets
Is there a more common bonus than a free bet offer nowadays? We don’t think so. As the name suggests, it’s a free bet you don’t need to pay for. Sometimes, it’s a single bet, sometimes it covers multiple bets. Either way, you must make a deposit and place a qualifying bet before you receive your free bet offer.
Even the best free bets aren’t as big as deposit bonuses or welcome offers. Which is only normal considering that it’s almost free money you’re getting. In most cases, free bets will be issued to your betting account as soon as your qualifying bet is settled. Keep in mind that this bet is placed with your own money, not another bonus, and usually at pre-determined odds.
The terms are a bit challenging to follow, but free bets are still among the best online betting offers. It’s the closest thing to free money at bookies and one of the best sportsbook rewards.
Risk Free Bet
Risk free bets are a somewhat newer addition to the online gambling market. It’s still a free bet bonus, but with a much lower amount of risk involved. What makes them different? Well, with a regular free bet, you can claim the money only if you win your initial bet. The risk free bet is different. It gives you something in return when you lose a bet, although most often in site credit rather than extra money.
This bet can still be used in a variety of betting markets. Live betting markets are included, and of course, all bets on fixed odds markets count.
Deposit and No Deposit Sports Betting Bonuses
You’ll learn about the concept of deposit bonuses the moment you join a betting site and get a welcome bonus. Unless it’s a free bet, the welcome offer will be a first deposit matched bonus up to a certain amount. But, it doesn’t stop here. After you claim a welcome deposit offer, you will have plenty of further deposit bonuses to claim. They might not cover each one 100%, but you can expect deposit matches of 50%, 70%, or even 200%. It all depends on how generous the bookie is.
On the contrary, no deposit bonuses are more like deposit free bets. You’re essentially getting something like a free bet when you join the site or later, without actually funding your account first. No deposit bonuses are typically smaller in size. They can be used for football betting, horse racing, or specific niche markets. This is pretty close to free money in online sports betting, although they’re rarely wager-free.
Event-Specific Bonuses
By event-specific bonuses, we mean deposit free bets, free bets, or some other kind of bonus for a specific event. It can be a horse race, an F1 race, boosts for the biggest football derbies, or anything else the betting site deems fit.
While most of these are odds boosts and free bets, you can also come across reload bonuses. Boosts on already competitive odds are the favorite of most Canadian sportsbooks, so most event-specific promos will come in this form.
Loyalty Rewards
Almost any reputable betting site has a VIP program. Unlike the bonus on your initial deposit, as a VIP bettor, you’ll be earning bigger and better prizes. It wouldn’t be uncommon for exclusive rewards and even items to be offered to regulars. Those include gadgets, luxury trips, and more.
Of course, earning your VIP status isn’t that easy. It may come as a result of accumulated VIP points, or by invitation. Whatever the way, exclusive clubs are an excellent way for advanced bettors to earn even more money.
Sports Betting Bonus Terms and Conditions
If you think that online sports betting bonuses come for free, you’re very wrong. Whether it’s a bonus for new customers or seasoned bettors, there’s no such thing as free cash for bettors. Each casino platform and bookie has numerous terms and conditions for its bonuses. It means that you need to stick to certain terms if you want to claim what you’ve won with reload bonuses, free bets, or deposit offers.
Wagering Requirements
When you go through bonus terms and conditions, the first term you’ll see are the wagering requirements. These apply on all bonuses so it doesn’t matter if you’re a new bettor or you’re among existing customers. In short, the wagering requirements show the number of times you have to roll the bonus over before you’re allowed to withdraw.
For example, a bonus of $10 with wagering of 30x means that you need to spend $300 on more than one real money bet before you can withdraw ($10 x 30). It’s unfair, but hey, at least you’re getting extra cash with the best bonuses.
Withdraw
To answer your question quickly, you can’t withdraw your bonus right away. Whether it’s a free bet, a deposit bonus or something else, you will need to complete the wagering before you get your winnings. Make sure to read the T&Cs properly. Some free bets and bonuses are only available on horse racing betting, others are free for all markets.
Odds
The odds are also among the most important conditions when using a betting bonus. If you read the terms for a free bet, you’ll see that you won’t be able to just spend it the way you like. For example, sometimes you must spend your betting bonus on pre-determined odds, like 2.00 or over on matches in the Premier League.
Examples
How do you use betting bonus offers? Here are a few examples below.
- First deposit bonuses are available for new bettors only. They require you to register and make a first deposit (take note of the minimum deposit) in order to claim the bonus. In general, most welcome offers are 100% boosts on initial deposits worth up to EUR 100 or over/under that number.
- Free bets on sign up are available to new bettors only. They are available when you register, deposit the minimum, and place a bet of the same size. Pay attention to the minimum odds you must bet on in order to get your free bets.
- No deposit bonuses are typically available for new and existing customers. They are smaller than welcome bonuses, but also have lower wagering requirements.
Find the Best Deposit Bonus or Free Bets
How to find the best sports betting bonus in the industry in 2022? Well, that depends on what you’re a fan of. If you’re into risk free bets, you won’t find it hard. Almost every betting site offers a free bet on sign up, but there’s a better sign up bonus if you want more value.
The typical online gambling bonus for new players or bettors is a 100% boost on their first deposit. At a sports betting site, that can be up to C$50 or something. In short, you can claim a first deposit bonus up to $100 on registration, which is more than enough money to get started properly. It differs from a free bet bonus in many points, but most bettors would be happy to get such an offer on sign up. This betting bonus should have fair terms and conditions, which means you have to go through the fine print.
In general, the lower the wagering requirements of this bonus, the better. A risk free bet doesn’t need wagering, but deposit bonuses are bigger and they require to be played through a number of times before withdrawal. The best online betting bonus sites will keep it low at 5x or something, but in general, most sites keep the wagering at 10x or 15x (or even higher).
Which bonus suits you better? That depends. If you don’t like pills you can’t swallow, a wager free risk free bet will work better. A sign up betting bonus on your first deposit is bigger and better, but the wagering terms are much tougher to complete. The good news is that you have plenty of online betting options, so even if you have to wager a bonus, you won’t find any markets missing. Oh, and before you claim a betting bonus make sure to check if it needs a bonus code. Without it, you won’t be able to claim the specified offer.
5 Betting Bonus Tips for Punters
Why is a betting bonus a good choice for new and seasoned bettors? There are plenty of reasons and we break down the most important ones below.
Ever wanted to try Asian handicaps but you didn’t have the money to spend? Well, you can easily do it with a betting bonus. For example, a deposit bonus will give you just the right amount of extra money to try a new market. However, make sure to check if you can use the bonus funds for that kind of sports betting.
Never forget to read the rules. While no one likes reading the fine print, it’s important to read and follow the rules if you’d like to clear your winnings.
Sometimes, you may come across exclusive promo codes that promise a mountain of money that’s just too good to be true. And it probably is. The promo code may unlock them, but the terms might be so unfair that you’d be better off with any other kind of free bets.
When using a betting bonus, don’t always go all in. If the bonus allows it, you can try system bets or any combination that will help you put it to good use, not waste it in a few bets.
If you don’t follow the bonus terms, you’ll lose the money. It’s that simple. A sportsbook sign up bonus might not be available for big sporting events, so even if you try using that money, you’ll lose it. This is one of the biggest mistakes new customers make, so don’t be another
Betting Bonus Terms and Conditions
What are the most important betting bonus T&Cs? Let’s check them below:
- Wagering requirements: in short, the wagering describes the number of times you must play the bonus over in order to withdraw your winnings from a free bet or other promo.
- Bonus amount: the amount of money you get. With free bets, you’ll be getting site credit rather than money.
- Qualifying bet: the size of the bet you must place before the bonus goes live. Don’t confuse it with the minimum initial deposit, which is another thing.
- Eligible sports betting markets: not all free bets offers or bonuses will be available on all markets. For example, you might see them available for football bets, but not for boxing betting.
- Odds restrictions: the welcome bonus you claim can only be played on pre-determined minimum odds. For example, you might only play it on odds or 1.50 and up or something like it. This highly affects your bet wins.
- Bonus code: check if there’s a bonus or promo code you need to use to claim a betting bonus. If you don’t enter it when prompted, you get no bonus.
Betting Bonus FAQ
What Is an Online Sports Betting Betting Bonus? An online sports betting bonus is a reward you get for joining a betting site. Bookies also give them to loyal bettors.
Where Can I Get a Betting Bonus? Every betting site will have a welcome bonus or free bet offers for new and existing bettors. The best sports betting sites will have generous bonuses you can’t refuse, including some that cover live betting.
Which Betting Bonus Is the Best? It depends. Free bets are quite popular among bettors. However, seasoned bettors might be more inclined to a deposit boost rather than a free bet.
Can I Use More Than One Bonus? Yes, you can, although some sportsbooks will prevent it. In general, you won’t be allowed to mix a sign up offer with another bonus.
How Often Will I Be Offered A Bonus? You get one on registration, and more as you continue to deposit and bet.
Is There A Maximum Amount I Can Bet When Using a Betting Bonus? Most bonuses will have capped bet wins. Read the T&Cs to check the ‘ceiling’.
Can I Wait with Utilizing My Bonus? No, you can’t. Bonuses are only available for a limited time, and they must be wagered in a limited period.
Pros & Cons of Betting Bonuses
- Great way to try in play betting if the terms allow it
- Free bets are excellent for fixed odds
- New customers get a freebie right from the beginning
- Terms might be unfair
- Some bonuses are too good to be true
Betting Predictions
When you’re using a betting bonus, it would be wise to take a look at a bookie’s tips and predictions. Nearly any sportsbooks has some on its blog, usually written by betting experts. So, for example, if your bonus allows Esports betting and there are tips for an upcoming match, you can put it to good use.
Of course, you can also find expert betting tips right on this page. We’ll give you the best tips for new customers and seasoned bettors, so you can put your shiny free bet to good use.
Where Can Punters Find the Best Betting Bonuses?
No need to look for the best betting bonus offers at all – they’re already here on this page. Whether you’re looking for a mobile betting bonus or the next great free bet for horse racing, you’ll find the top 2022 betting bonuses on our page.
Read this guide to learn what you need to know, then put that knowledge to good use and choose the best bonus. It’ll be worth it.
Final Words to Betting Bonuses
Betting bonuses are a great way to give your bankroll a boost. Whether you’ve downloaded an app through the Google Play store or you’re betting online, bonuses are a must. Of course, you shouldn’t just claim the first one you come across. Just because you’ve seen a massive bonus amount doesn’t mean the bonus itself is great.
The good news is that this guide is clarifies things about the best betting bonuses and promotions and then some. Read it in depth to learn how to put your bonus to good use and take advantage of fixed odds and live betting markets like a boss.
