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All About Bonus Bets
Bonus bets are promotional offers from online sportsbooks, where a bet is placed using credits or a voucher provided by the bookmaker instead of the bettor's own funds.
If the bet wins, the bettor receives the winnings, excluding the initial bonus bet stake. These offers are designed to attract new customers and retain existing ones by providing an incentive to bet on various sports and events.
However, like any promotional offer like match bonuses, bonus bets come with specific terms and conditions that can significantly affect their use and potential benefits. Understanding these terms is crucial for effectively utilizing bonus bets and making informed decisions. It's important for bettors to approach bonus bets with a clear understanding of both their advantages and limitations.
Pros and Cons of Using Bonus Bets
Pros
- No Immediate Financial Risk for the Bet: Bettors do not risk their own money for the stake of the bet.
- Opportunity to Explore: Allows bettors to try new betting markets without financial consequences.
- Potential for Winnings: Bettors can earn real money from successful bonus bets.
Cons
- Wagering Requirements: Winnings often have wagering requirements before withdrawal.
- Limited Use: Restrictions on markets, bet types, or odds may apply.
- Expiration Dates: Bonus bets typically have an expiration date by which they must be used.
Understanding the Offer
Grasp the specifics of the bonus bet offer, including any qualifying criteria (e.g., specific events, types of bets), how the winnings are paid out, and any restrictions on the odds or markets. This knowledge will help you make the most of your bonus bet without misunderstanding the terms.
Read the Terms and Conditions
- Each bonus bet comes with its own set of terms and conditions. It's essential to familiarize yourself with these details, such as expiry dates, wagering requirements on winnings, and minimum odds. Understanding these terms ensures you can use the bonus bet to its full advantage.
Bet Wisely
- Treat the bonus bet as if it were your own money. Conduct thorough research and analysis before placing your bet, rather than making a hasty decision because the stake is not coming from your pocket. This approach encourages responsible gambling and bet selection.
Manage Your Bankroll
- Incorporate bonus bets into your overall betting strategy without altering your usual betting behavior. Don't let the availability of a bonus bet tempt you to place larger or riskier bets than you normally would. Stick to your predefined budget and betting plan.
Use for Experimentation, Not Recovery
- Consider using bonus bets to experiment with markets or bet types you're less familiar with, rather than as a way to recover losses. This can help you expand your betting experience without additional risk.
Know When to Stop
- The fundamental rule of responsible betting is to know when to take a break. If gambling with bonus bets or any other type of betting is no longer enjoyable, or if you find yourself chasing losses, it's time to stop. Take advantage of tools like self-exclusion or deposit limits that sportsbooks offer to help manage your gambling.
Bonus bets represent a unique facet of online sports betting, offering users the opportunity to engage with betting markets without the immediate financial risk of using their own funds for the stake.
While they come with the potential to explore new betting strategies and possibly gain winnings, it's important to acknowledge the restrictions and conditions that accompany such offers. These can include wagering requirements on winnings, limitations on eligible markets or bet types, and expiration dates.
Therefore, a thorough understanding of the terms and conditions associated with bonus bets is essential for any bettor looking to utilize these promotions effectively. By carefully considering these factors, bettors can make informed decisions about when and how to use bonus bets as part of their broader betting strategy.
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Meet our Authors
Paruyr Shahbazyan
Paruyr Shahbazyan started his business career as an entrepreneur in 2000. Over 13 years, he learned business and leadership, which laid the foundation for his career.
In 2013, Paruyr entered the sports and betting industry as the founder and president of Bookmaker Rating, an online media platform he led until 2020. The platform focuses on in-depth analysis and insights in sports betting and has gained a reputation for quality content.
In 2022, Paruyr co-founded Azuro, a decentralized betting protocol. This shows his commitment to technology in the sports betting space. Through all these experiences, Paruyr has been shaping and influencing the betting industry, setting new trends and standards.
Innovation in sportsbetting comes from a deep understanding of both technology and the human element of sports.
Strategic Vision
Paruyr's vision is to revolutionize the sports entertainment industry by integrating technology. He sees the future of sports entertainment as a blend of traditional sports knowledge with innovative tech solutions, like decentralized protocols, to enhance user experience and fairness. He aims to create platforms that are not only user-friendly but also uphold the highest standards of ethical reporting, contributing to a more responsible and enjoyable sports culture.
Sol Fayerman-Hansen
With 20+ years of writing experience across sports, gambling, regulation, technology, and startups, Sol brings a broad understanding to his role as Editor-in-Chief at RG. His work provides clear, factual information to help readers make informed decisions about gambling. Sol’s approach is about transparency and research, so the content at RG is straightforward, evidence-based, and accessible.
At RG, Sol keeps the focus on the reader by maintaining a standard of reliability and integrity in the information shared. Under his editorial direction, RG aims to provide practical insights into sports and sports entertainment that support a balanced and informed approach. Sol’s approach has helped RG become a go-to source for readers looking to engage responsibly and thoughtfully in the industry.
Nick Ashbourne
Nick has been fascinated with sports since he was first taken to a Toronto Maple Leafs game back in 1998, and he's written about them professionally since 2014.
Nick has covered baseball and hockey for outlets like The Athletic, Sportsnet, and Yahoo Sports, and his sports betting expertise has grown since its legalization in Ontario in 2022.
Between 2022 and 2023 he worked for a betting startup called NorthStar Bets, and in 2024 he contributed to Oddspedia before joining the RG team.
Cristina Varela Galan
Cristina used to work as a Psychology Assistant in the Bizkaia Pathological and Risky Gamblers Association. She was also part of a research team in Deusto University, specializing in pathological gambling area. While working there, she managed to develop her own project
“Exploring the association between emotional regulation, alexithymia, stressful life events and gambling in adolescent and young adult women”.
Anna Kravtcova
Ph.D. in organizational psychology, an internationally certified psychologist (EuroPsy 2022, Cognitive behavioural therapy of mindfulness 2020, International Society for Emotional Intelligence 2017, Russian Psychological society 2014, American Psychological Association(Society for Industrial and Organizational Psychologist) 2011), speaker of many international conferences (USA, Brazil, Portugal, Czech Republic, Russia, etc.). TEDx speaker.
