The online casino and sports betting industry is highly competitive, one where brands must do whatever they can to stand out from their rivals.
They can do that in a variety of ways, including competitive odds and exclusive games, but the main arrow they have in their quiver is promotions.
Nearly all online casinos offer bonuses, and it’s most the case that sports betting sites will throw in offers, too. But which are the most lucrative for players? What differentiates a good bonus from a bad one? Let’s dive in with some discussion:
Free bets are the big draw for punters
The most typical form of sports betting promotion is a free bet, which is sometimes called a Bonus Bet or Free Bet token. It’s fairly easy to understand, too, as it is a voucher for a cost-free bet. Perhaps the most common misunderstanding is that the stake is not usually returned as part of a free bet wager. There may also be some sort of restrictions on what sports or events you can use it on, though that is not always the case.
Free spins usually dominate the casino promos
A lot of casino promos are centered on free spins, usually for slot games. You can get the equivalent in table games, which are usually called golden chips. Nonetheless, the idea of free spins does what it says on the tin, allowing you to experience slots without risking your own money. The confusion usually comes with what happens to the winnings. Sometimes those winnings are simply cash, which you can withdraw, whereas other times they must be wagered a number of times before withdrawal. Also, look out for any max winning limits.
Wagering requirements are a key component for casinos
Casino bonuses often have wagering requirements attached to them, including, as mentioned, winnings from free spins. Wagering requirements are almost always applied to deposit match bonuses (where the casino adds bonus cash to your deposit). This is understandable, given that people could withdraw the cash right away and the casino would be out of business. It is certainly worth keeping abreast of the Ts & Cs from the casino, as certain games may be excluded from the wagering, whereas others might be weighted differently.
Odds boosts: A big marketing tactic for sports betting sites
Odds boosts are now very common on sports betting sites. Sometimes they might be in the form of a promotion – like large odds of 50/1 for a goal to be scored in a particular game – but these are usually marketing-oriented, and they may have very low maximum bet limits. Other times, it will be carefully selected boosts, such as boosting a price from evens to 6/4 for a certain player to score in a game. The main thing to consider in this scenario is whether you believe the bet will succeed and that you are not simply attracted by the price.
Loyalty points and credits
We will finish with something hard to define, as every platform will have their own spin on it if, indeed, they offer loyalty points. Some are simple, awarding points for playing casino games or placing sports bets, for instance, which can later be exchanged for cash. Others are more complicated, with tier systems and different rates. Some are also available across multiple products, such as DraftKings Crown Cash. It really depends on the platform, but if you can while you play or bet, it’s a no-brainer to opt-in.
