Bonus bets or free bets are used by betting companies to attract and retain new customers. So how do bonus bets work? Are the betting websites handing out free money or do they come with any restrictions? Let’s have a look at some of the things you need to know.
How do you get bonus bets?
Bonus bets are handed out most commonly on registering with a new betting website. You can also avail of different bonuses that betting companies offer from time to time on their website. Deposit bonuses, tournament related offers, and regular bonuses on casino games are all standard practice nowadays.
How do you use bonus bets?
The exact user interface will vary with different websites but the basic idea remains the same. You will receive a bonus bet amount in your betting amount that cannot be withdrawn. You can use that amount to bet on sports or casino games just like you normally do.
The online casino or bookmaker will then deposit that amount into your account. Remember that you will only get the winning and not the bonus bet amount.
Bonus bet amount: Rs.1000
Total winning: Rs.2000
Money Deposited in your account: Rs. 2000 – Rs.1000 = Rs.1000
When can you withdraw your bonus winning amount?
The winning from a bonus or free bets come with some wagering requirements. This means that you have to meet those requirements before you can withdraw your money. This is key to understanding how do bonus bets work.
Bonus amount: Rs.1000
Wagering requirement: 5x
So you now need to wager Rs.5000 before you can withdraw any winnings from your account.
A lot of websites like 22Bet and Betwinner keep your bonuses/bonus winnings in a separate account. They will then transfer it to your primary account when the wagering requirements have been met. Make sure you read the fine print associated with the bonus bets.