Betting Offers for Online Betting
Most betting sites will have a welcome offer for new customers in one form or another. Typically, you can expect to see two different types of welcome offers:
First deposit welcome offer
After signing up, you make your first deposit and receive a matched amount of funds to bet or play with on top of your own funds. With sports welcome bonuses, the matched amount is usually smaller than for an online casino, though.
100% Welcome Bonus up to ?35,000
You may see something along the lines of '100% welcome bonus and up to ?5,000 in bonus money'. You can then use your bonus money for your next few bets, though there are wagering requirements you need to adhere to if you want the bonus funds and any winnings from them to become withdrawable as real cash.
Wagering requirements are often between 5x and 10x the bonus money, which you may have to wager on odds of 1.5 to 2.0 or higher. Often you will have 30 days to complete the roll over requirements, though it's possible to only get 7 days as well.
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Free bet welcome offers
Another very common type of welcome offer at betting sites are the free bets. Here you make your first deposit, place your first bet (for a specified amount on specified odds) and receive a free bet in return.
Typical examples are:
- Bet ?1,000 and receive ?3,000 in free bets
- Bet ?1,000 and get a ?1,000 free bet
- Bet ?1,000 and get two ?500 free bets
You will rarely need to stake more than ?1,000 (or the currency equivalent) on your first bet. What you get return differs depending on the betting site. The wagering requirements you need to comply with to be eligible for the free bet are specified as well. Usually, you have to stake a wager on odds of 1.8 or higher, though less is also possible.
The free bet you receive must be used within a certain time (7 days to 30 days) and may also be staked on specified odds or even markets. The free bet amount is never returned in any winnings you may get.
A version of this offer is the risk-free bet, which is essentially a refund (up to a certain amount) of your first bet in case it loses.
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When and why to make use of a welcome offer
Welcome offers are an incentive to start placing bets at a new betting site or perhaps one that is simply happy to acquire new customers (which, to be honest, they all are). They are a good way to place some relatively risk-free bets with some extra cash or free bets to try out a new site and figure out whether you like it or not.
This is also the most important reason as to why you should claim a welcome offer: simply to test a betting site, its odds, markets, betting options, deposit and withdrawal options, etc. You stand to lose little and if the wagering requirements are of no concern to you, you can simply play around a little.
Remember to take advantage of the exclusive betting offers here at OCB!
Not all welcome offers are equally attractive, however. Check the terms and conditions first before you claim it and only do so if the following is the case:
- Flexible use of free bet or bonus funds (not restricted to markets or bet types)
- Reasonable odds to bet on (which give you a reasonable chance of winning)
- Sufficient time to meet the wagering requirements (at least 14 days, better yet 30)
Two out of these three absolutely should be true for the welcome offer you may wish to claim. If all three are the case, great, but if none or only one is true for the offer you are looking at, you're better off just betting with your own money.