In order to keep the users engaged and more interested in placing more wagers, online bookmakers often make offers and promotions, like the BetLion welcome offer. This ensures a stable customer base and is a viable marketing strategy. Now, what is a welcome offer and what can you get from it? It is worth noting that these are just examples used to explain how the system works and not an invitation to test the said system out.
Upping the Stakes
If you place a bet, as a part of their welcome offer, the bookmaker may offer to match your stake, which puts down more money on the line and might provide you with bigger winnings. For example, if you bet $20, the bookie will put down another $20. Now your bet is worth $40, which, you must admit, is a much more lucrative bet – provided you win, of course. This is, in a way, a free bet, but there are a few restrictions.
First of all, there is the amount of money you have to bet in order to qualify for the bonus. It can’t be too little or too much, and it depends on the bookmaker, but don’t worry – they will inform you about the minimum and maximum amount that qualifies you for this bonus. Secondly, there is the issue of odds. The minimum odds are usually at 1.50, while the maximum odds go up to 2.0, but, again, this depends on the bookmaker.
Some bookies will allow you to get additional credit for betting when you make a deposit in your account. These bonuses are usually advertised as something along the lines of a 25% bonus if you are inclined to deposit $40 into your account, for example. In other words, the bookmaker provides you with $10 to bet on an event. However, as before, there are a few conditions that must be met. It usually boils down to the fact that you must bet a certain amount of money before you can withdraw your funds.
Alternatively, there are bonuses that grant you a few free bets with a limited amount of money on each bet with fixed odds. So, if you place one big wager, you might be rewarded with a few minor ones.
Some people try to maximize their winnings and to get the most out of their bonuses by using matched betting. It is a practice of betting on an outcome with a bookmaker and using a betting exchange to bet against that same outcome. The logic behind this move is that, in the worst-case scenario, the bettor will at least get the benefits of the bonus if not the profit. However, there are no guarantees, and it involves a lot of strategizing.