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Betting Bonuses

Betting bonuses are an essential part of the industry as online sportsbooks look to grab your attention with their latest incentive to encourage you to use their services. These incentives can provide great value for money and often work as the catalyst for a player signing up to a specific sportsbook.  In this article we will look at the different types of bonuses available to Canadian players and also what you need to look out for when signing up with a bookmaker. 

Pick up a betting bonus at these bookmakers

ComeOn!

5/5
500 $
+ Daily Odds Boosts

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Unibet

5/5
500 $
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LeoVegas

5/5
300 $
+ weekly accumulator

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10Bet

5/5
100 $
+ horse racing stakeback

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arcanebet

4/5
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888 Sport

5/5
250 $
+ $10 casino bonus

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William Hill

5/5
250 $
Promo code: CAN250

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What are betting bonuses and how do they work?

The online betting market is a crowded and hugely competitive industry with a huge range of companies all competing for your custom. Each one is looking to stand out in their own unique way to try and win you over, and luckily for prospective players their primary tactic is bonuses, bonuses, and more bonuses. 

If you are not overly familiar with betting or how the industry works, these bonuses can be slightly overwhelming with jargon or technical language flung in at every opportunity, hopefully after reading this article you will be more equipped to understand the information displayed before you. 

In general, betting bonuses can be split into two different categories with two different purposes. 

With this in mind, bookmakers not only have to provide enticing opportunities for new players, but they also have to be alert at all times to customer needs and regularly offer interesting incentives to ensure their customers heads are not turned.

Any bonus at an online bookmaker will come with its own terms and conditions. Once you have utilized some of these, you will start to get a feel for the usual specifics required for bonuses, but for complete clarity it is always worth checking the exact terms and conditions for your bonus before claiming it. Depending on the nature of the bonus you take, some will require you to deposit a certain amount of money to benefit from the bonus, so the last thing you want is to deposit the funds and then be left disappointed when you have misunderstood the terms.

Introduction to different betting bonuses

There is a huge range of different bonuses available to bettors in Canada, so let’s take a look at some of the most common betting bonuses you may see when betting online. We previously mentioned that you can usually split the types of bonuses into two categories: new customer promotions and existing player bonuses. While existing customers can also benefit from the following types of bonuses, new player promotions are usually in the form of either a deposit match bonus or a free bet.

Deposit Match & Free Bets

A deposit match bonus is probably the most common method that sportsbooks look to entice new customers with. Put simply, the betting site will offer to match whatever you decide to initially deposit, up to a specific amount. As an example, a site may say ‘We’ll match your deposit up to C$50’. If you decided to deposit C$50, the bookmaker would also deposit C$50 as bonus into your account, leaving you with a balance of C$100.

For a free bet, a sportsbook may offer free betting credits that a new customer may place where they wish. If the bonus bet terms are met, the profit from the bet will be placed back as credit into your account, with the free bet stake returning to the sportsbook. Existing players can benefit from both free bets and deposit matches, although the latter is rarer, but they also get a wealth of other loyalty opportunities to take advantage of as well.

Reloads & Loyalty Points

A reload bonus or deposit bonus can be granted to loyal customers when their funds are running low. Typically, a reload bonus will see a bookmaker refund your account with a percentage of your deposit, and these can differ depending on your average monthly spend. The size of this reload will vary depending on the rules of the sportsbook in question and is often in the 25% to 50% range.

Similar to the new customer incentives that we previously touched on, many bookmakers will offer their existing customers a free bet on a specific game if they place a bet on it. As an example, place C$10 on the Superbowl and receive a C$10 free bet to use on the in-play Superbowl markets. 

Loyalty point programs are common among casinos, but they can also be found at sportsbooks as well, and these will offer enhanced bets, free bets, or other bonuses at specific levels of wagering activity. Essentially, the more you wager, the more bonuses you will receive. The amount you wager will be transferred into a points system and should you accumulate enough points you can then qualify for free bets, cashback or even prizes. These can be set into categories such as bronze, silver and gold, and at each tier you will qualify for a new range of benefits.

As well as all those mentioned, there will also be an abundance of new and innovative bonuses that bookmakers will look to introduce whenever possible. Sportsbooks realize that to keep hold of their current customers and grab the attention of new customers they have to offer something a little different. Bookmaker marketing teams work tirelessly to produce new, exciting offers that will keep their customers coming back for more. Afterall, the better the user experience, the more time and money customers will spend on the site. 

It is not all about the bonuses available though, sometimes you will have to consider other variables before you decide to take on a specific offer. In the next section we will look at the type of things you should look out for when assessing which of the promotions you want to participate in.

Important Betting Bonus Terms and Conditions

On the face of it, betting bonuses look incredible, and largely they are, but there are things you must consider before committing to them, and these really should not be underestimated. As with nearly everything in life, there will be a series of terms and conditions that must be fulfilled to qualify for your prize, in this case, the bonus money. It is essential that you do not alter your betting strategy or budget to meet these requirements though.

Bet Some, Then Get Some

Firstly, there will be minimum wagering requirements to meet certain bonuses. This could be something as simple as ‘Bet C$50 and receive a C$50 free bet’ to the extreme of ‘Wager C$300 dollars this month and qualify for our bronze rewards scheme’. While the benefits of both of these may seem appealing, if you cannot afford those minimum wagering requirements or they exceed your planned spending, it is essential that you do not go over and above your limits to ensure your overall enjoyment is not compromised.

Deposit limits

Similar can be said for deposit limits. When signing up to a new site, they may offer to match deposit bonuses up to C$250. Obviously, by depositing C$250 you are receiving the biggest possible bonus amount, however, if you cannot afford C$250 in the first place, you must not deposit the maximum. Plan what your deposit limits are before looking for new offers and do not exceed it.

Event Specific Bonuses

Some of the bonuses available will require you to bet on specific events. It is always worth considering if you actually want to bet on that event first. If it is in a sport that you don’t follow or don’t know too much about, we would recommend that you avoid using it. You should only use bonuses that will benefit you and not use them just for the sake of it.

Expiry Dates

Plenty of bonuses and promotions will have expiry dates or have certain requirements that you have to meet. Ensure that these terms and conditions are realistic to your betting plan and that you aren’t just taking them for the sake of taking on a ‘free’ bonus. You will soon lose the ‘free’ element if you do not know what is going on, or you struggle to understand what the terms are.

Wagering Requirements

Many free bets also have terms that mean upon winning the initial bet, you have to then wager your initial stake a specific number of times before you can withdraw it as cash. It is always worth reading what the conditions are with these free bet bonuses, as it may be much harder to receive real cash than you first anticipated and instead you will be rewarded with further betting bonus credit.

Should players say yes to betting bonuses?

It should seem like a simple answer, right? Largely it is. Who wouldn’t want to take advantage of a whole range of great value betting bonuses for you to use in your strategy? 

Well, there are of course a huge range of pros to betting bonuses. It can add to the fun and entertainment. You might be deliberating whether or not you should place a bet this weekend and see a risk-free bonus that entices you in and you then have fun and enjoy your betting experience. ‘Risk-free’ is a pivotal part to free bets and bonuses. Essentially you are betting free money, it isn’t your money to lose, so any success is a reward you would not have expected.

There are plenty of people out there who are new to the betting industry and who want to get involved but are understandably concerned that their inexperience will cost them some of their hard-earned cash. Well, free bets and bonuses give these players an opportunity to gain some experience at no cost. Understanding how the interface works, how sports may play out, and what outcomes they should look out for is all valuable knowledge. It also allows more experienced bettors to try out new markets that they may not have tried previously. On top of this, free bets and bonuses offer value to your bets. The risk doesn’t change, but the reward does. 

There are of course some aspects of bonuses that you should bear in mind before playing with them. You should only opt into a bonus offer if the terms and conditions are player-friendly and suit your playing style. Minimum deposits and specific wagering amounts are regularly required to qualify for these bets, and these must not exceed your budget. You should only take use of a bonus or promotion if it suits your betting strategy. Taking them just because it is free money can lead to all sorts of problems and most importantly, they can take you away from your planned betting strategy which we would never advise.

Some of the other things to consider when placing your bets is that some bookmakers will require you to wager your winnings several times before you can withdraw it as cash. Essentially, it is significantly more difficult to collect your winnings as cash rather than extra betting credit. Lastly, another frustration for players is that you may not qualify for the most appealing offers. If you are already a customer at a betting site, they may offer a really enticing promotion to new customers which you will not be able to use. Likewise, new customers will not instantly receive some of the benefits that existing customers get.

Pros of betting bonuses

Cons of betting bonuses

Deposit methods and betting bonuses in Canada

When looking at specific bonuses, it is always worth reading the terms and conditions, especially if you are making your deposit via a less common payment method. If you are using the likes of Visa or Mastercard, you should not face any concerns, however, if you opt for something slightly less familiar, it may be worth checking to see what the specific policy of the sportsbook is with regards to bonuses via that deposit method. Here are some points to consider:

  1. Neither Skrill nor Neteller are currently available for use on Canadian sportsbooks, however, they are both widely used in Europe and the United States. The same can be said for PayPal. Due to past indiscretions and obvious bonus abuse, most bookmakers will not offer any promotions for players depositing via any of these methods, which is worth bearing in mind if they do resurface in Canada in the future.
  1. It is also worth bearing in mind as there may be bookmakers out there who have similar terms and conditions around other payment methods, so it is always worth checking your chosen bookmaker’s policies before proceeding any further or finding an alternative deposit method should it be required. 
  1. Some bookmakers also offer extra incentives for betting in specific currencies. There are several leading bookmakers with access for Canadians that offer Canadian dollar specific bonuses. It is worth keeping an eye out for these as not only will you benefit from the added bonus, but it also means that you will not incur any transaction fees for transferring your funds into a different currency.

Conclusion

Bonuses are everywhere in betting. Bookmakers are looking to entice new custom and hold on to existing customers with innovative and exciting offers. These promotions can provide invaluable experience and valuable profit for your betting strategy and they should definitely be utilized where it’s appropriate. However, it is always worth bearing in mind that there are some drawbacks to promotions and that you should only use the ones suitable to your budget and your betting strategy. Don’t let the prospect of free bets lure you away from your overall plan. With a range of different bonuses available to new and existing customers, working out which bonus to take can seem like a daunting prospect, but hopefully this article has helped to provide you with the advice to make informed decisions that will benefit your betting experience, as well as prove profitable to your betting account.

Betting Bonuses - FAQ

What is a welcome or sign-up bonus?

Most sportsbooks will provide an incentive to set up an account in the form of a welcome or sign-up bonus. This can be a free bet once you have signed up, or a deposit match bonus or a range of other bonus promotion offers. Different sportsbooks will provide a variation of incentives to encourage you to join their betting platform.

How do I claim my bonus?

When utilizing a welcome or sign-up bonus, all you need to do is follow the terms and conditions of the promotion e.g., Deposit the required amount of money and the credit will automatically be applied to your account. Different promotions will have different requirements, so it is always worth assessing the terms and conditions to help you get familiar with the specific process for that bonus.

How often do promotions run?

It will depend entirely on the online betting company you choose to bet with. Most leading bookmakers and sportsbook sites will offer bonus promotions, whether to new or existing customers, throughout the year and especially in the lead up to big sporting events. A sharp eye on the promotion pages will keep you up to date on the current bonus offers.