Sports betting bonuses hold an immense amount of importance when it comes to engaging the punters towards the platform and enhancing their retention rate towards the platform. Bonuses prove to be attracting aspects in the sports betting website platforms which lure the users for the additional benefits while having enjoyable betting experience.
A variety of sports betting bonus forms are available at online sportsbooks for enticing a great count of bettors. Some of the popular bonus systems that can prove to be profitable for sports betting businesses in 2020 include:-
- Free Bets Bonus
Free bet is a popular bonus that can be perfectly explained with an example:-
If a user deposits $25, he will get to place bet of $10 without laying his bankroll. If a winner is picked by the user then he can get profits from the bet. That means, betting $20 on a particular outcome @2.0 brings $20 in the winning case and not $40.
- Initial Deposit Bonus
When a user deposits some dollars in their betting account on a sportsbook, some deposit percentages get matched by a sportsbook which is normally between 5-100% of the amount deposited.
- Cash Back Bonus
Cash back bonus means, betting every dollar brings you a particular percentage on your wallet back.
For example, if 1% cash back is there on all of the sports betting wagers, then points can get turned to cash with a 1× rollover rate before withdrawal.
- Matching Bet Bonus
If your user bets $25 on some event, the user will be credited with 2 of those bets by the sportsbook. It’s free bet bit is limited in a way that the user cannot bet against himself and profit is guaranteed.
- Season Promotion Bonus
For promoting the betting around bigger events which get highlighted annually, sportsbook software provider provides bonuses specifically for those events. For example, a particular sportsbook is planning to engage bettors who seek to bet on Super Bowl then they will give a offer of 50% free super Bowl bet on the deposit. If the user makes deposit of $100 then the user will be credited with $50 free bet that can be placed on Super Bowl.
- Refer-a-friend Bonus
As the user refers a sportsbook to any of the friends and they successfully make initial deposits on the platform, some deposit gets credited to the user by the sportsbook as a referral bonus.
- Money Back Bonus
It is a popular bookmaker bonus in which the user bets on some amount and in case of loss, money gets returned by the bookmaker. Bettors does not require to comply with wagering conditions for betting.
- No Deposit Bonus
This bonus is provided in such a way that the user doesn’t require to transfer any of the funds before starting the gameplay with real money. It is quite rare happening but sometimes it occurs, however the bonus gets subjected to high rollovers requirements. This bonus is quite common in online casinos.
Other Popular Bonus Types
- Secret Bonuses
- Reload Bonuses
- Loyalty Bonus
- High Roller Bonus
- Signup Bonuses or Welcome Bonus and many more
What are Bonus Rollover Requirements?
Every bonus whether it’s a free play or cash bonus, comes with some rollover requirements which is typically the total deposit amount + bonus amount × rate of rollover = rollover amount.
Rollover amount should be wagered before withdrawal of winnings that are related to free play. Normally , in standard terms, rate of rollover is 15×.
Crucial Points Regarding Bonuses
- Ongoing and Signup are the two crucial bonus types in sportsbooks
- Before confirmation of deposits, users must always have a look at bonuses available
- Bonuses can be fruitful in bankroll management and optimization of betting strategies.
Integrating bonus systems in a betting software is a crucial lure that every sports betting business must do for engaging potential bettors towards their business. If you are a sports betting business owner and looking for a reliable sports betting software development company that can offer you a betting platform integrated with multiple engaging bonus types, then GammaStack can be a one-stop shop for your business needs.