Online sportsbooks have been on a constant rise for several years and the betting market hasn’t been as competitive as today. Operators are constantly looking for new ways to attract customers and keep their existing members. They usually do this with unique features, special markets, a bigger list of sports and events, etc.

However, the most successful gadget for gaining an advantage in the market is promotions. Bookmakers that feature generous bonuses are more likely to have a large number of customers. In this article, we’ll reveal the truth behind these popular betting promo offers.

What’s the Purpose of Promo Offers?

There are two main reasons why online bookmakers offer bonuses and promotions to their customers. The first one is to attract as many new bettors as possible. Here, they compete with every competition on the market.

For this task, operators will present a generous welcome offer that only newly registered punters can claim. To do this, they’ll need to make their first deposit on the betting platform.

After that, the betting site will reward extra funds, free bets, or cashback. The more generous the prize the more successful the promo will be. But, it’s not only the bonus that new customers are looking into.

Smart bettors will also check the T&Cs to see what the promotion demands in return. Because of that, sign-up offers with fewer conditions will attract the most punters. One such bonus that comes with a hefty reward and without a big list of requirements is the FanDuel promo offer.

The second reason why online sportsbooks give out bonuses is to keep hold of their existing customers. Every bettor wants to claim prizes from time to time. As such, operators must regularly update their list of promotions to please their current members.

A top bookmaker always has a wide variety of bonuses that target different types of bettors. Among them are deposit bonuses, cashback, free bets, no deposit offers, reload promos, boosters, enhanced odds, and more. At these betting sites, you’ll also find promotions for specific sports or leagues.

Are Promo Offers Really Rewarding?

All sports betting promos look generous at first glance. But, this doesn’t mean they’re as rewarding as they appear. This is a well-known marketing strategy designed to get your attention. Companies use it in every field as it’s highly effective for attracting new customers and generating income.

To see how rewarding a betting bonus really is, you must read the terms and conditions. Every promotion has unique T&Cs that are very important to know about before applying.

Most bonus offers usually require a certain deposit or a qualifying bet before rewarding a certain prize. Once you do that and receive the extra funds or free bet, it’s time to use them. Now, here’s where it all gets tricky.

You must use the bonus according to specific details stated in the T&Cs. As such, the promo might require placing an accumulator or an individual bet at certain minimum odds. Offers can also be eligible only on selected events and betting markets.

A maximum win cap is another key piece of information stated in the T&Cs. This detail alone shows how generous a bonus really is. However, by far the biggest indicator is the wagering requirement. It shows how much money you need to spend before you can request a withdrawal.

This is a condition that you must meet within the validation period. If you fail, then the operator will forfeit the bonus amount and any winnings that you’ve generated.

A good online betting site will have bonuses with wagering requirements of between 5x and 10x. However, you can also find some highly generous offers that don’t have any such requirements. But, these promos will usually have a very low maximum win limit.

Final Thoughts

Any good online sportsbook has at least a few promo offers. Operators use these bonuses to get new customers and keep their existing members happy. Now, the promotions might appear super rewarding, but most of them aren’t really like that.

Because of that, it’s very important to read the bonus T&Cs. Pay good attention to all details, especially on the wagering requirements. They indicate how much money you need to spend before cashing out the bonus and any winnings.