The world of online betting is probably one of the most competitive industries to be in and thats why so many betting sites will offer free bets and welcome bonuses in order to try and lure you away from other sites to theirs. Welcome bonuses shouldn’t be feared but you should always do your own research before signing up and claiming one so you know what you’re getting yourself in for.
Deposit Welcome Bonus
The most common welcome bonus that you will see on Australia betting sites are deposit bonuses. These are when you are given a free bet based on a % of your first deposit. For example a 100% up to $100 would mean that if you deposit the full 100$ then the bookmaker will give you a free bet of $100. These can vary in both $’s and %s such as a deposit $500 get $250 would mean that you would be getting 50% of the original deposit.
Unfortunately due to the size of these welcome bonuses they do have some terms and conditions that you will have to stick by. These differ on every site that you sign up to so you may want to read over that specific sites T&C’s.
Minimum Odds: A lot of free bet bonuses will have a minimum odds that you can place a bet with them on, this varies on every site but the minimum odds are normally between 1.5 and 2.0.
Stake Not Returned: There was a time when online betting was quite new that the bookies would actually return your stake with your winnings, however thats all changed now as it wasn’t profitable enough for betting sites so now when you receive your winnings you will only have your winnings – your original stake.
Turnover Requirement: Not all free bets have a turnover requirement as its normally down to the overall size of your welcome bonus meaning the smaller bonuses may not have it but the larger ones ($200 +) will require you to wager through your bonus + deposit a certain amount of times before you can cash any of your winnings out. While reviewing sports betting sites we found the normal wagering requirement to be between 4 and 7 x your bonus + deposit.
As always we advise our readers to check out the terms and conditions on every single site before they register and deposit, from the moment you deposit into your account then you wont be able to withdraw it until you have completed all the stipulations put forward by the bookmakers.
Dont be scared by welcome bonuses they’re a great way of boosting your starting bankroll without having to invest much of your own money which gives you more money to wager with and more chance to win big.