Promotional offers are a successful tool for many businesses, but you’d have to search far and wide to find an industry that uses it as effectively as the gambling industry. Sports betting has propelled itself into the limelight, and over the last 25 years, the internet has turned a promising business model into a global success story. As with any significant success, there are several factors that have played a role, but there’s no denying that betting bonuses have and continue to play a pivotal role. Bonuses can take all shapes and sizes, and today, we will review the most common ones you will find on sports betting websites and how to make the most of your wager when you use one.
The purpose of bonuses and promotionsAs there are such vast, varied and high-quality sportsbooks that exist online, it is vital these businesses find a way to stand out from their competition as positively and uniquely as possible. Bonuses grab the attention of bettors as they’re often either free to use or involve some sort of financial incentive. The sole goal of the sports betting company is to bring as many new customers as possible. Popular US sports betting bonuses mirror those that are popular in other prominent gambling countries. Since it is a global market, promotions are constantly changing, and many bettors shop around to get the best from many different providers.
No deposit bonuses and deposit match bonusesNo deposit bonuses are arguably the most popular in the current sports betting market. Although they vary depending on your provider, the general idea is to reward you with free money or betting credits once you sign up for that service. It’s a digital version of try before you buy, and it’s a method of advertising and promotion that has worked for decades. Sportsbooks use these bonuses to attract you to their site, and give you a sneak peek of what their service offers.
While no deposit bonuses are relatively rare and hard to come by, deposit match bonuses are the bread and butter of online sportsbook promotions. Caesars Sportsbook will match up to $1,000 of your initial deposit in betting credits. It is often the most prominent names within the sector that can go above and beyond. Companies such as Caesars and BetMGM, which offers $1,500, are able to generate more money due to the size of their operations. When a company can generate this kind of wealth, it is often fed back into advertising and marketing.
With more money at their disposal, they’re able to take bigger financial hits to get people on board, and it also means they’re able to reach more people with their advertisements because of their budget size. As with any bonus, you must review all the terms and conditions. While it isn’t in the best interest of any betting company to deceive you with their offer, given the ease you can move to one of their competitors, you might prefer to receive cash instead of betting credits. Provided you read up on the bonus terms before you use it to place your bet, you won’t be left with any issues when you try to use the service again or withdraw your winnings.
Specific game and tournament bonusesIn US sports, events don’t get more significant than the Super Bowl. Many sports betting companies in the states see this as the main date on the calendar. With over 100 million people watching it and an increasing number of US bettors being able to legally place a wager on the most prominent football event on the calendar, specific betting bonuses are a great way for sports betting companies to stand out. For example, if a team is 13-10, you might get enhanced odds of 3/1 with a maximum bet amount installed in a bid to encourage you to use their services.
Featured odds, boosted odds for specific outcomes and bonuses where you receive your money back as a free bet if your selection isn’t successful, are some of the most common specific game bonuses. This idea also stretches beyond the Super Bowl and covers popular golf and tennis tournaments, big matches in combat sports and athletic tournaments such as the Olympics. Ultimately, for any event that guarantees millions of Americans will tune in, sports betting companies will tailor a market to maximize its potential.
Free betsOne of the rare types of betting bonuses that exist in the current US sports betting market is free bets. The best type of free bet is typically one that you can use to bet on whatever sport you wish. These types of bets are usually capped at a certain amount. While specific game bonuses will box you into a particular event or sport, a free bet gives you the flexibility to dive into any market.
There’s a reason that these bonuses are difficult to find, but the big names in the industry, like Bet365, Betway, and FanDuel, do offer these promotions. Whether you place your bets online or you enjoy playing your mobile games on iOS or Android, US sports betting companies ensure that you can use their welcome bonuses across various devices.
ConclusionAlthough we have discussed the most popular sports betting bonuses, companies are constantly exploring alternative ways to appeal to new customers. It’s hard to put into words just how lucrative it can be for a sports betting company that is able to establish itself as a gambling provider with the best promotions or welcome bonuses. If there were a way to create an organic, unique type of bonus, the upside could be colossal.
As the market continues to expand and more sports betting customers enter the market, keep your eyes open for more creativity in advertising, gaming innovation and new bonuses and promotions to explore. The US sports betting market is finding its feet, and bonuses, welcome promotions and other prominent advertising tools will continue to play a role in its expansive growth.