Existing & New Customer Betting Offers
Promotional betting offers are a common marketing technique that many online bookmakers use. There is a wide variety of different offers available and they can be categorised into existing and new customer betting offers. The former are there to help retain existing customer base and their loyalty, while the latter is aimed at getting new users to sign up. The different offers will typically have a very similar principle and eligibility requirements but the idea and execution of them can vary slightly. Let’s find out about the most common betting offer types for both new and existing customers.
Welcome bonus
Welcome or signup bonuses are perhaps the most common type of bonus offered by the majority of betting sites. This is essentially an incentive for users to sign up with the bookies by giving them free bets, cash or a percentage from their deposit for free. The welcome bonus is deposited into the user’s account after they have signed up and made their first deposit. Keep in mind that some bookmakers will have requirements for the amount of money you need to deposit or other things you must do before you can receive your bonus.
No deposit
No deposit bonuses, as can be guessed from the name, is a promotional betting offer that does not require a deposit (unlike most of the other signup offers). While it’s usually offered to new customers, some bookies will also use no deposit bonuses as a way to encourage inactive users to return to the site. The no deposit bonuses are rarely large and they are typically offered for specific sporting events or tournaments, but either way they are completely risk-free.
Free bet
Free bets are often given to existing users, as a way to maintain their loyalty. They can be given to you after you have placed a different bet or otherwise became eligible for it based on that specific offer. They allow you to place a wager without the need to deposit any money and with no risks. However, more often than not, free bets will have wagering requirements that you will have to meet before collecting any winnings.
Loyalty bonus
Another method that many bookmakers use to reward loyal customers is by offering them loyalty bonuses. Typically, the loyalty bonus can be collected after you have acquired a certain number of points or used the betting site for a certain amount of time. Once you are eligible for it, you simply redeem the loyalty bonus that gets automatically deposited into your account – that can be in the form of a free bet, cash or other types of betting offers.
Bonus on loss
Unfortunately, losses are unavoidable when betting and so bonuses on loss is one of the ways online betting sites will try to avoid discouraging their users from playing. This type of offer can be offered for both new and existing customers, hoping that the bonus will keep a smile on the player’s face ever after loss and they will not permanently leave the site. Typically, it will come in the form of a percentage of your loss deposited back into your account, which you can then use to place another wager.
*This is a collaborative post.
