Besides the deposit bonus, which is usually referred to as welcome bonus, start bonus or first deposit bonus, bookmakers also offer other types of interesting betting bonuses. The most common betting bonuses are the free bet and the risk free bet. These bonuses are smaller than the deposit bonus, and thus used more frequently by all bookmakers. The free bet is a betting bonus that gives the customer the possibility to place bet for free. It works differently from bookmaker to bookmaker, but it most cases the customer has to log in to the betting account and activate the free bet through a promotion code. After that the free bet will be available to use as stake for the said bet. The terms and conditions for the free beet differ from bookmaker to bookmaker, but in most cases the customer only gets to keep the profit of the winning bet, so if a 10 EUR free bet is staked at odds 1,5 and the bet wins, the customer gets to keep 5 EUR (15 EUR winnings minus 10 EUR free bet = 5 EUR profit). That 5 EUR then belongs to the customer, and can be used as the customer wishes, but in some cases there are further wagering requirements, e.g. that the 5 EUR has to be staked three times at minimum odds 1,5 before a withdrawal is possible – exactly like with the deposit bonus.
Another type of betting bonus is the risk free bet, that in some cases also needs to be activated through a promotion code. This bonus requires the customer to have money in the betting account in order to take advantage of the bonus. The way it works is quite simple. The customers can place a bet without risk, so basically if the bet loses, the bookmaker pays back the stake of the bet. If the bet wins, the bet is treated like a regular bet and all winnings go to the customer. If a bookmaker offers a 25 EUR risk free bet to a customer that has 25 EUR in his betting account, and the customer uses the risk free bet to place a bet at odds 2, and wins the bet, the customer will win 50 EUR, and thus have 50 EUR in his betting account. If the bet loses, the bookmaker will refund the 25 EUR stake, and leave the customers betting account balance at stat quo with 25 EUR. As with the free bet, the risk free bet can have wagering requirements attached to the amount the bookmaker pays back to the customer. It could be wagering the amount three times at minimum odds 1,5 but the requirements differ from bonus offer to bonus offer, and from bookmaker to bookmaker. After completing the wagering requirements, the customer can withdraw the bonus amount.
In rare cases bookmakers also operates with a free money bonus. This type of betting bonus is usually a small amount that is given to loyal customers, either directly added to the customer’s betting account or activated through a promotion code, but it can also be given to new customers in special marketing campaigns. The free money bonus always has wagering requirements attached to it, and in general the terms and conditions are similar to that of the deposit bonus, the free bet and the risk free bet.
The bookmakers use different channels to inform their customers about the different types of betting bonuses they offer. Some are personally delivered to customers via email, SMS, phone or around stadiums before football or soccer matches, while others are promoted in betting forums, sports websites, social media channels, print ads or TV spots. So if you like betting bonuses be on the lookout wherever you go, because there are a lot of interesting bonuses to get out there.