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Wagering requirements on bookmaker bonuses

Online bookmakers love to tempt punters with the promise of free bets and sign-up bonuses. But while they may look attractive, all such promotions are subject to wagering requirements which determine how you can use those complementary credits.

Therefore, it is important to understand exactly what you’re getting into when you accept a welcome bonus at any real money betting site. We’ll help you navigate the jargon and the fine print, and explain how those free wagers and match deposits really work.

Wagering requirements for match deposits

Many sports betting sites offer cash match bonuses for new players, where you can score extra credits depending on how much money you add to your account after signing up.

For example: a bookie might advertise a 100% match up to $100 on your first deposit, which means you would get $100 ‘free’ if you put $100 in your balance on the initial transaction. Thus, you pay only $100 for $200 betting credits.

Sounds like money for nothing, right? But what those promo ads don’t tell you is that you must bet that starting balance several times over before you can cash out any winnings.

Let’s say that 100% deposit match we described above comes with a 3x wagering requirement. In most cases, this means you have to ‘play through’ at least $600 (3 x $200 starting balance) before you are allowed to withdraw any funds from your online betting account.

Sometimes the betting requirement applies only to the bonus credits, separate from the initial deposit amount. Sticking to our example, that still means you must wager at least $300 (3 x $100 bonus cash) in order to clear the bonus and qualify for withdrawals.

While the exact terms may vary from site to site, all online bookmakers (as well as real money casinos) employ such measures for match deposit bonuses. And it makes a bit of sense, if you think about it – for otherwise people could simply cash out the bonus money and walk away without even placing a bet.

All trusted betting sites list this information in the terms and conditions, so make sure to read them carefully before you add so much as a single dollar to your account.

Multiple deposit welcome bonuses

Above we looked at a simple first-deposit bonus, where only your initial transaction qualifies for free cash. However, many online sportsbooks offer welcome packages which cover up to three or four deposits.

The important thing to note with these multi-tier bonus deals is that each transaction may be subject to different limits and match percentages. For example, a $700 welcome bonus over three deposits might work like so:

Here, each level awards a different amount of bonus cash depending on how much you deposit. If you deposited $100 on all three tiers, you would get another $100 free on the first bonus; $50 free on the second bonus; and $25 free on the third. ‘Up to’ refers to the maximum available bonus – so even if you deposited $1000 at 100% on the first level, for instance, your bonus would top out at $250.

Now, when reading the T&C’s for tiered deposit bonuses, you need to find out whether or not you will be obliged to activate every level before you can play through and cash out. Sometimes you do, sometimes you don’t – but it’s vital that you know, or else you might be left with a series of bonus requirements which you simply can’t afford to fund.

Free bets at online bookmakers

Most deposit bonuses don’t require you to make a bet before you can claim your free credits. Bonus bets, on the other hand, are awarded only after you place a wager with some of your own cash.

For example: let’s say a bookmaker is offering to match your first bet with a bonus wager up to $100. You sign up, deposit some cash, and stake $20 on Liverpool to beat Manchester City in the English Premier League. Once the result is settled, you will receive a $20 free bet voucher which you can use on any sports, racing, or novelty market.

Unlike a matched deposit, where you can spend your bonus credits over as many wagers as you wish, a bonus bet can only be exchanged for a single wager. Some welcome packages consist of multiple free bets – e.g. a deal promising up to $150 in bonus wagers might feature three individual bets up to a maximum of $50 each.

Tips for using betting bonuses online

Always read the terms and conditions – Never, ever accept a bookmaker bonus until you’ve examined the wagering requirements with the proverbial fine-toothed comb. Otherwise, you risk putting yourself in a position where you can’t collect your winnings at all.

Can you cover the play-through requirements? – If your bankroll is only a couple of hundred bucks, it’s probably not smart to activate a $200 bonus with a 10x wagering requirement. If you can’t afford to bet through with your own cash, without taking winnings and bonus funds into account, then you probably shouldn’t accept free credits.

Start with small deposits – Those new to online gambling often get roped into accepting big bonuses without really understanding how they work. Before you start filling your boots with bonus money, test the waters with a modest deposit – say, $20 – and see if you can clear that.