With so many Bitcoin sportsbooks and bookmakers operating online, offering strong customer service and competitive odds is no longer good enough. For the casual bettor especially, the lure of a bonus can make them use one sportsbook over another. Firms that don’t provide a sportsbook bonus are either poorly funded, untrustworthy, or happen to be aiming their service at a high-end clientele.
Although the welcome bonus usually comes in the form of a matched deposit, there are plenty of other bonuses offered by Bitcoin sportsbooks
With bonuses being a big selling point for sportsbooks as they try to retain their current clients and entice new ones, it is important that the marketing teams are original and inventive with the concessions they offer. A variety of standard bonuses such as the welcome bonus, free bet, etc. already exists, but ad hoc promotions and seasonal bets are popular with customers who want an extra little boost on an event that they will be watching anyway.
Our Bitcoin sportsbook reviews really concentrate on the bonuses being provided by each bookie to identify the best sportsbook offers for you. Before we go any further, however, it is important to distinguish the different types of bonuses. There are various ways in which Bitcoin sportsbooks are able to credit their players with bonuses. Some can come through a marketing ploy for new business, whereas others may be given to reward loyal customers. Familiarise yourself with our definitions of the different types of bonuses so you don’t get lost in the jargon when checking out a new site:
The welcome bonus is typically the main bonus that sportsbooks offer. The bonus amount will be plastered across the online ad banners that pop up on your browser, and is intended to grab the attention of any potential new clients. Although the welcome bonus usually comes in the form of a matched deposit, there are other bonuses offered by the Bitcoin sportsbooks. Some may state that the first five deposits will be accompanied by a 50% bonus. Other times a welcome bonus may come in the form of a cashback offer if the first bet loses, and so on.
Deposit Match Bonus
As mentioned, this is the most common type of welcome bonus. Bitcoin sportsbooks will get new customers’ attention by stating that the first deposit will be matched with bonus funds (up to a maximum of a certain amount), and this may be marketed as “Get a 100% Welcome Bonus up to 1BTC” at ABC Sportsbook. Deposit match bonuses can often be really generous in terms of the figure offered to prospective players. However, the user always needs to check the terms and conditions to ensure they aren’t tying up their initial funds and bonus on account of draconian rollover requirements.
Apart from the obvious reasons, there are advantages to getting a free bet instead of the other types of concessions. Free bets don’t often carry the same financial size as deposit match or welcome bonuses, but they don’t usually have as many strings attached. Free bets are offered by certain sportsbooks to new customers, and they also serve to keep existing customers happy. There may or may not be a requirement to make a deposit to claim a free bet.
Although not as common, cashout bonuses give bettors the opportunity to claim a bonus when they close their open bet by “cashing out”. The cashout has become increasingly popular since live betting became the norm. For instance, if a bettor struck a wager on Arsenal to win against Crystal Palace and Arsenal went 1-0 up in the first half, then Arsenal’s odds would contract and the player could cash out and lock in some profit. Some sportsbooks are rewarding the cashout by boosting their winnings. The one thing to take into consideration is that the odds the customer receives when cashing out are by and large not the most competitive, so really this bonus is more a case of actually giving bettors what they deserve.
As mentioned briefly above, sportsbooks often offer ad hoc and seasonal promotions to their customers. These are usually free bets, matched deposits, enhanced odds and percentage bonuses on winnings, and are largely advertised when there is a big sporting event on such as the FIFA World Cup, the Olympics, Royal Ascot or Wimbledon. Casual bettors usually come out of the woodwork when these major competitions take place, and Bitcoin sportsbooks create attractive promotions to ensure these individuals get actively betting again. In addition to bonuses, some sportsbooks offer cash back if one loses a bet – for example, if you bet on a match and the score ends 0-0, then all stakes will be refunded.
Bonuses can be fantastic for bettors, especially the recreational punters who want to boost their betting bank balance. At certain times of the year when there is fierce competition for bettors from the sportsbooks, some of the offers can be particularly enticing. The welcome bonuses and deposit match bonuses are getting bigger and bigger as sportsbooks scramble to increase their client book.
While the big bonuses are of course very appealing, it is perhaps just as important to check out the terms and conditions as it is to pay attention to the size of the bonus being offered. Virtually all bonuses come with strings attached, and those T & Cs and rollover requirements can determine whether the sportsbooks are legitimate and fair to their clients or whether they’re trying to take their money.
It is important to know what types of bonuses are being offered by each Bitcoin sportsbook. Here at BitcoinSportsbooks we provide a comprehensive review of all the major firms, analysing which sportsbooks provide good-value bonuses to customers, and which ones should be avoided.