Betting with a bonus is one of the best ways to increase your edge over the bookmaker and making that sweet profit. In this article we’ll cover the different type of bonuses and important things you should know about them.
Betting on eSports with a bonus
Taking part of the many welcome offers that various eSport bookmakers offer is an awesome strategy to increase your profits. With that being said, there are actually bonuses you’d be better off staying away from as they would rather hurt than benefit you. However, by checking out our page about the current top bonuses and running promotions, you’ll find a lot of available bonuses that you can grab with outstanding values.
The profitable free bet
Free bets is a type of bonus that is always worth taking part of. Even though the terms and conditions may differ from one eSport betting site to another, you generally receive a bet worth a certain amount of money to be used on a match of your choice. If you win, you usually only get the net profit of the bet, which is the total win subtracted with the value of the free bet. If the free bet was valued at €20 and you bet this on odds 2.0 and won, your total win would be €40, but you would only receive the net profit of €20 (€40 – €20 = €20). Before being able to withdraw, this net profit usually needs to be wagered once.
As only the net profit is paid out from free bets, this make them the perfect bonus to gamble with and place bets on selections that offer high odds. You could of course take a €20 free bet and place it on a “safe” selection with for instance 1.2 in odds, but this would only give you a profit of €4. If you on the other hand would place a bet with 3.0 in odds, this would give you a €40 profit and as you have nothing to lose, why not go for the higher amount? You should of course always place your bet on a selection that based on your knowledge would be a possible outcome. Whichever selection and odds you decide, free bets are always to your advantage as you’re not placing any real money.
The beauty of a risk free bet
Just like free bets, a risk free bet is a bonus that you would always benefit from using, but it’s important to use it wisely. With a risk free bet you’re betting your own money, but this will always be returned to you. If your bet is lost, you’ll receive the stake back. if you win, the net profit (total win – amount bet) usually becomes bonus money that needs to be wagered once on a certain odds, while your stake is returned as real money.
To make the most of a risk free bet, you would like to avoid “safe” selections with low odds. Even though there of course always is a risk for a “safe” bet to bust, in which you would receive your stake back, the probability of it winning is way higher. If you win a risk free bet placed on low odds (such as 1.2), your net profit becomes bonus money that needs to be wagered once on certain odds. The problem with this is that the odds the net profit needs to be wagered on usually is at least 1.5, which makes this odd way higher than the odds of the initial bet, lowering your chances for a profit. Risk free bets are therefore always better to use on selections that give you an odd higher than the odd of the wagering requirement.
The value of a matching deposit bonus
Matching bonuses (also known as deposit bonuses) are usually the ones that you’re able to get the highest value from, but these are also bonuses that could actually work against you. When taking part of these bonuses you get your deposit matched by a certain percentage up to a certain amount. For instance 100% up to €300 or 500% up to €50.
For a matching bonus to be profitable, you must read the terms and conditions and find out if your deposit (real money) will be separated from the matching bonus money. You must also check that it’s possible to cancel the bonus and only lose the bonus money if doing so. The reason for this is that these type of bonuses usually have a high wagering requirement. If your deposit (the real money) would become bonus money when taking part of the bonus, you have locked all of your money and now have no choice to complete the wagering requirement to be able to make a withdrawal. This would heavily work against you. If you on the other hand have your real money and bonus money separated, whereas you use your real money first and have the possibility to cancel the bonus which would only lose you the bonus money, you have a great advantage. Let’s take two examples:
The everything or nothing deposit bonus
Example: 100% up to €100
You’re depositing €100 and receiving a 100% bonus, which means you’re getting a €100 extra. With this matching bonus all of your money is turning into bonus money and before it can be withdrawn, you would have to wager the received bonus 8 times on odds 1.5 or higher. Should you place a €100 bet on accumulated odds of 2.0 and win, you’ll make a €100 profit. Before you can make any use of this profit, you would however have to wager another €700 on odds 1.5. There’s no way around this and as the chance of you succeeding with this are lower than busting all of your money, the bonus is to a disadvantage.
The awesome parachute deposit bonus
Example: 100% up to €100
Once again you’re depositing €100 and receiving a 100% bonus, hence giving you €100 extra. The wagering requirement is still 8 times on odds 1.5 or higher, but with this bonus your real money is separated from the bonus money and used first. Therefore the bonus money can be considered to be an extra lifeline, hence the parachute reference. Once again you’re placing a bet of €100 (which would be your real money) on accumulated odds of 2.0. After winning this bet you’ll receive €200 that is all your money, while you still have €100 that is bonus money. In bonuses like this, your real money will be locked to the bonus as long as it’s active. You do however always have the possibility to cancel it and only lose the bonus amount of €100, which then makes it possible for you to withdraw the profit that you’ve just made. You could of course also continue playing with your real money and try to fulfill the wagering requirement, hence turning the bonus money to your own.
As long as you’re playing with your real money, you’re never bound by the wagering requirement in a bonus like this, hence you’ll always benefit from it. If you’re able, you should always try and get a bonus like this as you have nothing to lose, but a lot to gain. Let’s say your first €100 bet was lost. You would then have an extra life as you would still have the €100 bonus money to play with. You would indeed have a wagering requirement to fulfill before you can withdraw any of this money, but it’s free money that you’ve received which you wouldn’t have if you didn’t take the bonus and it could turn into a nice profit.
On matching bonuses it’s a good idea to place as safe bets as you can while meeting the wagering requirement. As it’s all about turning that huge amount of bonus money you have received to your own, you don’t want to take unnecessary risks.
Cashback bonuses all work differently depending on the bookmaker offering them. Even though you’d be better off without many of them, there are some out there that could add a value to your betting experience. Let’s take two examples of two different cashback bonuses and start with the inferior one:
The inferior cash back bonus
Example: 100% cashback up to €100 based on first bet placed
This bonus allows you to get up to €100 in bonus money which needs to be wagered 8 times on odds 1.5 or higher. The amount received is based on your first bet placed. If you place a bet of €20, you’ll receive a bonus of €20 and if you place a bet of €100, you’ll receive the maximum amount of €100. There’s usually also a requirement how high the odds need to be on the first bet placed.
You could say that this type of bonus is the same thing as a matching deposit bonus, but where you’re forced to place all of your real money on one bet, on a certain odd. Therefore this is usually not a bonus that would work in your favor and is clearly a superior choice to a matching deposit bonus.
The superior cash back bonus
Example: 100% up to 600$ paid out as a percentual cashback
This is a bonus that’s quite rare to come across, but that for instance EGB is offering. With this cash back bonus you’re able to get a total of 600$, which is determined by your first deposit. If you deposit 100$, you’ll be able to get 100$ and if you deposit 600$, you’re able to get the full amount of 600$. This bonus is more of a real cashback as real money is being paid out to your account as you’re placing bets, based on a certain percentage of the value of those bets. It may be that the money is paid out in different blocks. If the cashback for instance is released in blocks of five, this would mean that you would have to place a certain value of bets before the first block of cashback money is released. There may also be restrictions to how high the odds need to be for the cashback to be released.
In this sense the bonus is very similar to a matching deposit bonus as you would have to wager a certain amount before it’s paid out. The main difference is that your money won’t become locked, which means that you’re able to make withdrawals without losing the bonus. This can be quite nice, making this type of cashback bonus a valid alternative. You never have anything to lose by taking part of it and it’s therefore always a good choice. An important thing to have in mind is that you should refrain from forcing yourself to meet the minimum odd requirement, but instead place your bets based on what you think is the best option. At times you will surely place bets that do meet the requirement and you’ll be able to get your cashback.
Please do note that there may be restrictions on being able to cashout, which for instance is the case with EGB. Their terms and conditions state that you always have to keep your balance as high as it was when you made the first deposit, otherwise the bonus may be cancelled. In such a case you’re always able to cashout profits without risking the bonus, but you always have to keep in mind that your withdrawal won’t leave your balance lower than what it was on your first deposit.
The importance of terms & conditions
We’ve covered the basics of the different type of bonuses and given an indication of their value and how they’re best used. It’s valuable information to keep in mind, but it’s important that you never forget to read the terms & conditions before taking part of a bonus. These rules tend to differ from one bookmaker to another and can have a huge impact on the actual value of the bonus. Taking a few minutes to do this will definitely be to your advantage.
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