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All About Bonus Bets
Bonus bets are promotional offers from online sportsbooks, where a bet is placed using credits or a voucher provided by the bookmaker instead of the bettor's own funds.
If the bet wins, the bettor receives the winnings, excluding the initial bonus bet stake. These offers are designed to attract new customers and retain existing ones by providing an incentive to bet on various sports and events.
However, like any promotional offer like match bonuses, bonus bets come with specific terms and conditions that can significantly affect their use and potential benefits. Understanding these terms is crucial for effectively utilizing bonus bets and making informed decisions. It's important for bettors to approach bonus bets with a clear understanding of both their advantages and limitations.
Pros and Cons of Using Bonus Bets
Pros
- No Immediate Financial Risk for the Bet: Bettors do not risk their own money for the stake of the bet.
- Opportunity to Explore: Allows bettors to try new betting markets without financial consequences.
- Potential for Winnings: Bettors can earn real money from successful bonus bets.
Cons
- Wagering Requirements: Winnings often have wagering requirements before withdrawal.
- Limited Use: Restrictions on markets, bet types, or odds may apply.
- Expiration Dates: Bonus bets typically have an expiration date by which they must be used.
Understanding the Offer
Grasp the specifics of the bonus bet offer, including any qualifying criteria (e.g., specific events, types of bets), how the winnings are paid out, and any restrictions on the odds or markets. This knowledge will help you make the most of your bonus bet without misunderstanding the terms.
Read the Terms and Conditions
- Each bonus bet comes with its own set of terms and conditions. It's essential to familiarize yourself with these details, such as expiry dates, wagering requirements on winnings, and minimum odds. Understanding these terms ensures you can use the bonus bet to its full advantage.
Bet Wisely
- Treat the bonus bet as if it were your own money. Conduct thorough research and analysis before placing your bet, rather than making a hasty decision because the stake is not coming from your pocket. This approach encourages responsible gambling and bet selection.
Manage Your Bankroll
- Incorporate bonus bets into your overall betting strategy without altering your usual betting behavior. Don't let the availability of a bonus bet tempt you to place larger or riskier bets than you normally would. Stick to your predefined budget and betting plan.
Use for Experimentation, Not Recovery
- Consider using bonus bets to experiment with markets or bet types you're less familiar with, rather than as a way to recover losses. This can help you expand your betting experience without additional risk.
Know When to Stop
- The fundamental rule of responsible betting is to know when to take a break. If gambling with bonus bets or any other type of betting is no longer enjoyable, or if you find yourself chasing losses, it's time to stop. Take advantage of tools like self-exclusion or deposit limits that sportsbooks offer to help manage your gambling.
Bonus bets represent a unique facet of online sports betting, offering users the opportunity to engage with betting markets without the immediate financial risk of using their own funds for the stake.
While they come with the potential to explore new betting strategies and possibly gain winnings, it's important to acknowledge the restrictions and conditions that accompany such offers. These can include wagering requirements on winnings, limitations on eligible markets or bet types, and expiration dates.
Therefore, a thorough understanding of the terms and conditions associated with bonus bets is essential for any bettor looking to utilize these promotions effectively. By carefully considering these factors, bettors can make informed decisions about when and how to use bonus bets as part of their broader betting strategy.
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Meet our Authors
Paruyr Shahbazyan
Paruyr Shahbazyan began his business career in 2000 as a private entrepreneur. Over thirteen years, he developed a deep understanding for business and leadership, laying a solid foundation for his professional journey.
In 2013, Paruyr stepped into the sports and betting industry as the founder and president of Bookmaker Rating. This online mass media platform, which he led until 2020, focused on providing in-depth analysis and insights in sports betting, earning a reputation for its quality content.
Continuing his innovative approach in 2022, Paruyr co-founded Azuro, a decentralized betting protocol. This venture showcases his dedication to integrating advanced technology in the evolving landscape of sports betting. Through these diverse experiences, Paruyr has continuously influenced and shaped the betting industry, driving new trends and setting high standards.
| Experience | Year |
| Engaged in private entrepreneurship | 2000-2013 |
| Founder and President at Bookmaker Rating, an online platform focused on sports and betting | 2013-2020 |
| Co-founder at Azuro, a decentralized betting protocol | 2022 |
"Innovation in sportsbetting comes from a deep understanding of both technology and the human element of sports."
- Paruyr Shahbazyan, Founder, RG
Principles and Ethics
Paruyr Shahbazyan's core beliefs lie in the power of informed decision-making and integrity in the betting industry. He understands that the foundation of successful betting is not just about odds and predictions, but also about the trust and reliability of the information provided. Paruyr advocates for a betting environment where transparency and knowledge are paramount, ensuring that bettors are well-equipped with accurate data and insights.
Strategic Vision
Paruyr's vision is to revolutionize the sports betting industry through the integration of technology. He sees the future of betting as a blend of traditional sports knowledge with innovative tech solutions, like decentralized protocols, to enhance user experience and fairness. His aim is to create platforms that are not only user-friendly but also uphold the highest standards of ethical betting, contributing to a more responsible and enjoyable betting culture.
Future Perspectives
Looking towards the future, Paruyr envisions a betting landscape that is more inclusive, technologically advanced, and globally connected. He anticipates a significant shift towards more decentralized and transparent betting systems, driven by blockchain technology. Paruyr is committed to being at the forefront of this change, continuously exploring new possibilities and innovations that can redefine what it means to engage in sports betting in a digital world. His focus is on building systems that prioritize user empowerment, fairness, and the global growth of the sports betting community.
Sol Fayerman-Hansen
Sol has over 20 years of experience in writing for diverse industries including sports, gambling, regulation, technology, and startups. As the Editor-in-Chief at RG, Sol brings a wealth of knowledge and expertise to the role, focusing on delivering transparent, evidence-based content grounded in thorough research. Sol's mission is to empower readers to enjoy gambling responsibly and make informed decisions, enhancing their overall experience through insightful and engaging content. Under Sol's leadership, RG prioritizes the highest standards of integrity and reliability, ensuring that all information provided is accurate and trustworthy. Sol's dedication to transparency and research-based writing helps create a responsible gambling environment where readers can truly benefit from the content. This commitment to excellence has positioned RG as a leading source of information in the gambling industry.
Experience:
- Over 20 years in writing and editing across multiple industries
- Former head of regional innovation at BMO Financial Group
- Senior Writer, Online Casino Reports
Nick Ashbourne
Nick has been fascinated with sports since he was first taken to a Toronto Maple Leafs game back in 1998, and he's written about them professionally since 2014.
Nick has covered baseball and hockey for outlets like The Athletic, Sportsnet, and Yahoo Sports, and his sports betting expertise has grown since its legalization in Ontario in 2022.
Between 2022 and 2023 he worked for a betting startup called NorthStar Bets, and in 2024 he contributed to Oddspedia before joining the Responsible Gambler team.
Cristina Varela Galan
Cristina used to work as a Psychology Assistant in the Bizkaia Pathological and Risky Gamblers Association. She was also part of a research team in Deusto University, specializing in pathological gambling area. While working there, she managed to develop her own project
“Exploring the association between emotional regulation, alexithymia, stressful life events and gambling in adolescent and young adult women”.
Anna Kravtcova
Ph.D. in organizational psychology, an internationally certified psychologist (EuroPsy 2022, Cognitive behavioural therapy of mindfulness 2020, International Society for Emotional Intelligence 2017, Russian Psychological society 2014, American Psychological Association(Society for Industrial and Organizational Psychologist) 2011), speaker of many international conferences (USA, Brazil, Portugal, Czech Republic, Russia, etc.). TEDx speaker.
