Bonuses are one of the major attractions used by bookmakers. They are aimed at attracting new clients while also retaining the existing customer base through regular promotions.
There are several ways by which bookmakers offer bonuses, and as a sports bettor, it is vital that you know about the different types of available bonuses. Although these bonuses are very helpful in improving a player’s bankroll, it is always important to check the terms and conditions before you accept them.
Bonuses are offered in various forms. Some are provided on registering an account with the sportsbook, others are given to regular customers while others are given to reward the loyalty of some customers.
When it comes to crypto betting sites, they also provide bonus offers for their new players as well as for regular and loyal players. For those who have played with one form of cryptocurrency or the other, you must understand how bonuses are offered, however, if you have never transacted on crypto betting sites and you’re unsure as to how to get a bonus, this has been clarified below.
Types of bonuses offered on crypto betting sites
Firstly, crypto betting sites as the name implies, are online bookmakers that allow you as a sports bettor to transact and make bets using several forms of cryptocurrency such as Bitcoin, Bitcoin Cash, Litecoin, Ethereum, and more. Bitcoin together with other digital currencies has become more noticed by the public in recent years, many thanks to the rise in the value of the currencies. With the knowledge of how valuable the currency is, there has been an increase in the number of bookies that accept cryptocurrencies, while some solely focus on cryptocurrency payments. Some online sportsbooks that offer cryptocurrency payments include Stake, Cloudbet amongst others. You can find more of them on the website which has given a detailed review of each of these crypto betting sites.
Due to the heavy competition in the industry, these bookies, like regular ones have begun to provide their customers with several bonuses. The way crypto betting sites offer bonuses includes welcome bonuses, reduced juice bonus offers, loyalty bonus offers, referral bonus offers, reload bonus offers, and more. We have explained how they are offered below.
Welcome bonus
This is the most common type of bonus that is offered by most crypto betting sites. The long-term aim of a sportsbook is to retain their customers, they can only do this by providing them with odds that are competitive in the market and with a great service. Though with countless sportsbooks to select from, there must be an attraction that draws the sports bettor at first. This is the reason for the welcome bonus.
These bonuses are offered just once and they frequently come as matched deposit bonuses, hence, when a customer makes a deposit into their sportsbook account, the amount gets doubled (subject to an already set limit). Note that, welcome bonuses come with rollover requirements which must be satisfied before you can withdraw bonus funds.
Free bets
Compared to welcome bonuses, they are not as big, but free bets have their benefits. Some crypto betting sites that offer free bets could advertise their bonuses as “Deposit 30mBTC and get 15mBTC free bets”. What this means is that when you fund your account with at least the prescribed amount, you’ll be able to strike a free bet on your preferred market. This benefits you and the bookies because if you win, you make extra profit and as for the sportsbook, you will have made deposits into your account which you’ll play with to benefit from the offer.
Reload bonus
This bonus follows the welcome bonus because while the welcome bonus is meant to attract you, the reload bonus is meant to keep you from leaving. These are bonuses that are provided to existing players that have made deposits previously, the bonus can be offered at any time. For example, where a crypto sportsbook offers existing customers a 75% bonus on their 2nd, 3rd, 4th, and 5th deposits (which come with maximum bonuses). These reload bonuses are helpful on days when players may not be making frequent wins, they help the sports bettor at re-establishing the bankroll.
Refer-a-friend bonus
With this bonus, the site simply rewards you for marketing them. With the referral bonus, there is normally a fixed amount that is given as credit to the player’s account when they can bring another bettor to register on that betting site using his referral code.
Loyalty bonus
Every sportsbook has a client management and marketing team responsible for ensuring that they retain and maintain a functioning database for their customers. These bonuses are usually offered to customers after betting a particular amount of bitcoins or cryptocurrency, but they also get offered as incentives to players who may have had losing streaks to afford them the opportunity of getting their or those who have not accessed the site in a while, to make them remember that the sportsbook is still around and encourage them to resume using their crypto betting accounts.
Seasonal bonuses
Online bookies offer periodic bonuses at certain times of the year. These periods fall around renowned sporting events that will possibly draw high betting activity. Such events include the Cheltenham Festival, Super Bowl, the World Cup, Olympics amongst others. The bonuses offered to appear in the form of improved odds, but they have usually matched bets, something like “Bet 20mBTC on the Super Bowl and get free 20mBTC”. These bonuses are usually very rewarding for the crypto sportsbooks since the rate of bets around that period is usually very high and they try to ensure their services are very attractive.
Reduced juice
These bonuses are more treasured by experienced bettors who understand how important it is to obtain betting value. By “juice”, it means the margin imposed by the sportsbook on its odds, and when the juice is bigger, the odds are less advantageous to the bettors. Hence, sometimes, bookies could lessen the juice on some occasions to boost them and improve the turnover of bets for such event. On the other hand, the sportsbooks could provide bettors with the opportunity of earning the right to make their selection of events or games where they prefer the juice to be reduced via meeting up with other prerequisites or by betting a particular amount.
So, there you go! These are the major ways bonuses are offered on crypto betting sites. They are quite similar to how regular online sportsbooks also offer bonuses. However, you should always check the rollover requirements attached to these bonuses to know whether they are worth accepting or not. Good luck as you bet with cryptocurrencies and don’t forget to check the site for the best available crypto betting sites.
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