Basically, a sports betting bonus is just a marketing tool. They are given to new bettors to sweeten the deal after a successful sign-up process. But the prizes are not only availed to new players. Existing bettors also get a reward for their unshakable loyalty to the sportsbook brand. The award can be free bets, cashback, welcome bonus, player referrals, and so on.
But why do sportsbooks offer bonuses? First of all, the cut-throat competition doesn’t allow any sportsbook to sit back and wait for players to sign up. Therefore, most of them launch an offensive marketing drive to lure and keep players.
On the flip side, bettors will always make do with additional free bets or money deposited into their betting accounts. This is especially true for beginners who needs some wiggle room to get the hang of the bookie.
Below is are the main advantages of betting bonuses:
- They help players settle quickly in a sportsbook.
- Bonuses help reduce the risk by allowing bettors to stake for free.
- They are easy to trigger.
- Bonuses help sportsbooks attract and retain players