Sports Betting: Calculating the Real Value of a Welcome Bonus
Are you new to sports betting? Or are you a sports betting aficionado? And, are you looking to sign up with an online sportsbook?
Welcome bonuses are a standard reward offered to new clients by most online sportsbooks. However, there are always terms and conditions attached to each gift. And, if you do not adhere to these requirements, you run the risk of being held liable for the total bonus amount plus a large percentage of your bankroll.
Therefore, the question that begs is, how do you calculate the real value of the welcome bonus before accepting it?
The welcome bonus basics
Before we answer this question, let’s consider some of the welcome bonus fundamentals:
This promotion is a high-value bonus. And, it is easy to assume that this is free money. It is free money if you fulfill the terms and conditions. A typical requirement of this bonus that you have to deposit a certain amount of money to receive a gift of a specific amount. For example, if you deposit $50, you will typically earn from $100 upwards.
As an aside, some casinos and sportsbooks will offer you a pre-determined number of free bets or spins in place of a monetary reward.
Only available for new clients
This is a crucial point to be aware of. Welcome bonuses, like those offered in the form of a Librabet Bonus, are only for new clients. However, this does not mean that existing sports betting clients are left out. There are other offers designed especially for existing clients, including free bets, cashback bonuses, and additional sports-specific bonuses.
Counting the cost of a welcome bonus
Now that we understand some of the basics of a welcome bonus, let’s consider what the actual cost of the bonus is.
Predefined number of bets at specific odds
A typical condition of a welcome bonus is that for you to keep the bonus, you have to place a certain number of wagers on sporting events whose betting odds are at least 1.50. In other words, a successful wager will give you 1.5 times the amount risked securing the bet.
For example, you would need to bet on at least ten sporting events whose odds are 1.50. And, if you wager $10 (USD), you will get $15 back if you place a winning bet. If the outcome of the match goes against your wager, you stand to lose the $10.
Value of a single wager
A slightly scarier condition is that you will need to risk the total value of your initial deposit in a single wager at least once to redeem the welcome bonus.
Remember, the potential negative consequences of these terms and conditions are relative to the amount wagered. If you are only wagering small amounts on a single match, then your bonus figure will be small, but you will not lose a lot of money. On the other hand, if you intend wagering large sums of money at any given moment, then you run the risk of losing a lot of money.
For example, if your initial deposit is $100 (USD), you will need to risk the total amount on a single wager to redeem the bonus amount. On the other hand, if your initial deposit is only $20, you will need to risk the $20 on the single wager. There is a big difference between $20 and $100.