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Nowadays the majority of sports betting operators offer a sports betting signup bonus for new customers. Some bookmakers like Betonline even offer first deposit bonuses up to $2.500.
What’s the deal? Why are sportsbooks throwing money down the drain?
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It is obvious that nobody is gifting you money for no reason. Sports betting operators are commercial companies that want to generate profit. To pursue that goal, operators try to attract as much attention as possible to their website.
A first deposit bonus for new customers is a great way to create attention and accumulate signups at the website. This kind of promotion is almost as old as the online betting market itself.
Bookmakers are not gifting you the money – before being able to withdraw your bonus money, you have to fulfill certain turnover requirements. Most of the sports betting sites have specific terms for their first deposit bonuses. New customers will have to place bets at certain odds the bookmakers have determined.
By setting those so-called rollover requirements, bookmakers make sure that new customers first of all deposit money at the website and secondly start placing their bets. By doing so, traffic and revenue are created, and both bookmakers and their customers benefit from that.
Overall, bookmakers are happy about new depositing customers and the customers benefit from a nice welcome offer.
The most common sign up bonuses are provided either as free bets or bonus cash that needs to be wagered before being able to withdraw it. Free bets are provided if you have lost your first bet after signing up for an account at a website.
You will be credited a certain amount of cash only available for betting purposes, so you are not able to cash out the bonus money immediately or use it in casino or poker games.
Most bookmakers will transfer the first deposit bonus to your account after you have made your first deposit. At some sports betting websites you will have to rollover a certain amount of bets before you get the bonus cash.
After meeting the requirements, you may withdraw your bonus funds. When signing up with a new site, you need to take a look at the minimum odds requirements.
Only bets placed according to the website’s terms will count towards the first deposit rollover requirements.
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