What types of bonus are there?
Betting companies most often offer three types of bonuses.
- Free bets are the most common, or bets that don't use money from the customer's account. When these bets are placed, the player receives the winnings minus the free bet amount, and if it loses, they do not lose anything.
- Risk-free bets are also a type of free bet. When using this bonus, the bet amount is debited from their account. If the bet wins, the player receives all of the winnings, but if it loses, the bet amount is returned to their account.
- Bonuses on a bonus account. The player receives bonus points on an account separate from their main account. These bonuses can be used to place bets or withdrawn to the main account after wagering conditions are met.
What are the wagering rules?
There are four other rules that most betting companies use. However, sometimes betting companies make their own rules, so be sure to read the terms and conditions before you take part in a promo.
Bet the bonus amount X times
Place one or more bets in the amount equal to the bonus. This rule usually applies for welcome bonuses.
You register in a betting company and it offers you a EUR 200 bonus. Based on the terms of the promotion, in order to receive the bonus, you need to bet its nominal value (EUR 200) by a factor of 20, i.e. place one or several bets for a total of EUR 4,000.
Place bets with certain odds
Place bets on an event with the suggested odds or higher. This rule applies to the wagering rules for most bonuses.
Place a bet on a certain event
Place bets on the event included in the promotion terms and conditions. This is usually required when wagering bonuses related to major matches or tournaments. It is also often combined with the condition of a bet on certain odds. For example, the conditions state that you need to bet on a Champions League match with odds of at least 1.60. You place a bet and you receive a bonus.
You place a bet for a certain amount
You place a bet with the indicated amount or greater. The conditions often indicate that you do not need to bet the entire amount at once. For example, the conditions may indicate that you need to wager
EUR
500, but you can make one large bet or split the amount into 10-20 smaller bets.How to best wager free bets?
Use betting strategies.
Every sport has strategies that increase your chances of winning. Choose one that suits the promotion conditions and will help you meet the wager amount faster. For example, in football there is the Oscar Grind strategy, which works when betting on high odds. It works best if there is a restriction on the minimum bet slip odds in the promotion conditions. If there is no limit, then the strategy of betting on a total over 1.5 in championships with high scoring matches will also work well. Check out our Betting strategies section to read about how to bet on different types of sports.Use the chasing strategy if the wager amount is related to bet amounts.
The chasing strategy helps you recoup losses after a series of losing bets by increasing the amount of the next bet. It works best when you have a large bank. For example, if a player bets on events with odds of 2.00, and the first bet is equal to EUR 1,000, then by the fifth bet the amount will increase to EUR 24,000. The chasing strategy does not guarantee a win, but it significantly increases your chances. By increasing the size of the bet, you will meet the wager amount faster. We wrote in more detail about calculating bet amounts when catching in our Chasing article
.Bet small amounts.
The less you bet, the higher your chances are of recouping your money after losses. To better control bet size, always use a bank management strategy. They help reduce the amount of money lost and increase your chances of winning. Read more about bank management strategies in our Bankroll article
.Make a bet schedule.
All promos that involve wagering to earn bonuses have a time limit. Before wagering, calculate the number and amount of bets per day you need to earn the bonuses. This way, you can plan your bets and analyze matches in advance. Do not schedule bets for the final days when you are eligible to wager just in case you need this extra time if scheduled bets were delayed or cancelled.Please note that only settled bets are accepted to meet wager requirements. Make sure the matches you bet on will end before the end of the promotion.
Stop trying to meet wager requirements if you are losing a lot. Earning a bonus shouldn't be an end in itself, or you risk losing more than you win. If your losing streak drags on, try to stop trying to meet wager requirements and place bets that you are more comfortable with. For example, with lower odds or a lower bet amount, or bet on a more familiar sport. If the promotion time limit allows, then you can get back to wagering when you stabilize your bank and your win-loss rate.