How to Avoid Common Pitfalls When Comparing Sports Betting Bonuses

Sports betting bonuses are one of the best aspects of signing up for a new account with a bookmaker. Free bets are always welcome as a welcome bonus, as are ongoing promotions when you’re an established user. Many people start by browsing through the top offers available on AskGamblers.

However, there’s more that goes into choosing the best bonuses than just looking at the offer description. The terms and conditions of a promotion are what reveal the true value of an offer. Understanding how to interpret these rules can help you make smart decisions from the word go.

Why Sports Betting Bonuses Can Be Misleading

Bonuses underline a simple concept. You're getting a free bet that you can use at your leisure. However, there’s much more to it than that. Every operator follows their own approach to bonuses. Some are quite happy to give you a decent chance of seeing a real money return. Others will do everything they can to make it as difficult as possible to generate a return.

Some of the common issues people run into include high wagering requirements, restricted markets, minimum odds rules, and short expiry periods. That means two bonuses that look exactly the same on first glance are actually completely different under the surface.

Look at the Bonus Type

The first thing you need to do is understand the different types of sports betting bonuses. Deposit match bonuses are a common welcome offer. The operator matches your first deposit to a certain percentage. Wagering requirements nearly always need to be met before cashing out.

Free bets normally require you to stake some real money before getting one. Using a free bet means that you’ll typically only get to keep the profit when you win. Bet and get offers see you receiving a reward for placing a qualifying wager. Risk-free bets see the operator refunding your lost bet as a free wager.

Understanding the Wagering Requirements

Wagering requirements are something that a lot of new bettors don’t understand. Getting a £50 bonus with a 10x wagering requirement means you need to bet £500 before you can withdraw. A smaller bonus with no wagering requirements can be much more valuable.

It’s important to check if the wagering requirements relate to both the deposit and bonus, or just one of them. Also double-check what markets count toward the wagering.

Check Minimum Odds and Time Limits

Many bonuses have strict rules on the type of qualifying bets you can place. This includes requiring a certain level of minimum odds. They don’t want you placing an odds-on bet to quickly lock in a positive return from the wager. That means if Tottenham Hotspur are playing the bottom of the table team, you can’t lock in a quick profit by backing Spurs to win.

There will often be excluded markets and even restrictions on live betting. Then the expiry period needs to be taken into account. You might only have 24 hours to claim the reward and to meet the wagering requirements. The bonus disappears after the timer elapses.

Withdrawal Rules

Some bonuses have certain conditions when it comes to withdrawing. You might have a cap on how much of an offer you can convert into withdrawable cash. You might need to verify your account before withdrawing. 

Certain bonuses will be voided if you try to withdraw funds without first using the bonus funds. Knowing these rules is important so you don’t avoid a costly mistake.

Conclusion

Sports betting bonuses can be very useful when used correctly. Once you take the time to compare the different offers and read the fine print, you’ll be well-positioned to take advantage.

Using comparison sites can be a great way to speed up the process. They have all the promotions in one place, as well as the key wagering requirements, so you can make an informed choice and find the deal that best suits your needs.