Over the past few years we have been seeing a definite move towards online casinos that also offer sports betting and other forms of gambling. This all-in-one format allows for players to try their hand at a variety of gambling activities, all under one virtual roof. You may have noticed though, that while the casino offers a Welcome Bonus, there are also often specific sports bonuses for online betting. So, what is the difference between these and which one has more to offer? Let’s find out!
By now, most players will be familiar with the range of rewards offered at online and mobile casinos. The most popular of course is the Welcome Bonus, which usually comes in the form of a 100% cash match offer linked to your first deposit with certain wagering requirements. This means that whatever amount you initially deposit, the casino will match it up to a certain cash limit. Some sites offer a 200% match, while others match your first 4 deposits with increasing amounts, such as 50%, 75%, 100% and even 200%.
All casino bonuses come with strict rollover of betting requirements. In most cases, these are expressed as a multiple such as 5x, 7x or 15x. This designates the multiple amount you need to wager on your total amount before you can cash out your winnings.
Online bookmakers have a different type of rewards setup. Instead of simply offering a reward on sign up, sportsbook sign-up offers come in the form of a free bet, a first bet match, a winning bet offer, or a cash match offer.
The free bet offer is the easiest to understand of all the promotional deals. When you sign up the, bookmaker will give you a certain cash sum, such as $15 to make a prediction of your choice. You can even choose to make multiple smaller wagers up to the same value. There are of course restrictions on the markets you can choose and the odds, which have to be higher than a specified amount (usually 1.80). If your prediction wins, you keep only the profits and not the stake. You also have to place a certain number of real money bets before you can cash out your winnings in ordering to meet the wagering requirements.
Another promotional variation on offer is the first bet. In this case, the bookmaker does not simply give you a cash amount. With these rewards, the bookmaker instead offers to match the total stake of your first bet, up to a certain cash limit. Again, there are wagering requirements and restrictions imposed on the markets you can choose from, and the odds for the wager. If you win, you keep the profits, but not the stake given. Again, there is a rollover requirement where you must place 10x your reward amount in order to cash out your winnings.
The third type of sports offer is similar to casinos bonuses in that it is a simple cash match offer where the bookmaker will match your initial deposit amount up to a certain cash limit. This only relates to your first deposit, and usually does not exceed 100% match up to $200.
The benefit of this offer is that there are no restrictions on what markets or odds you must use when betting. You are free to put down money as you like, as long as you complete the wagering requirements before trying to cash out your winnings. The requirements are usually set as a rollover amount of 20x or 30x your total amount.
When used correctly, both casino and sports bonuses add extra value to your gambling experience and can increase your chances of landing a big win.