Bonuses and promotions are among the advantages that make online bookmakers superior to land-based bookmakers. They are also part of the reason why betting sites have gained such massive popularity in the past couple of years and why experts believe that online bookmakers will completely take over the betting industry in the next 2-3 years.
But, one thing that often flies under the radar is the fact that bonuses and promotions often come with terms and conditions. That is why we often say, it is not the amount of the bonus that you need to check, but rather the terms and conditions that come with it. With that being said, we are going to take a look at some of the terms and conditions as they will help you understand how bonuses work. But first, let’s see how can you choose a reputable online bookmaker.
What to Consider When Choosing an Online Bookmaker?
The fact of the matter is that online bookmakers are still not well-regulated in many countries around the world because they are still new to the market. So, aside from the reputable sites, there may be some scam sites that operate in a specific region. Logically, players are ought to avoid scam sites, but how can
you tell if a site is legit or not?
The best way to check whether the chosen online bookmaker is legal and trustworthy is to check its license. The license is proof that the operator can offer its services to punters. Not only that, but licensed sites utilize the latest security systems that are able to keep their registered players out of harm’s way.
If you are looking to check which are some of the most reputable and safe betting sites on the market, then feel free to check safebettingsites.com/au/ as it lists all trustworthy online bookmakers and provides fantastic details about them.
Now, let’s take a look at some of the terms and conditions that deserve a mention.
Minimum Deposit Amounts
First off, we’ll be taking a look at the minimum deposit amounts. Each online bookmaker applies the minimum amount that you need to deposit to claim a certain bonus. Not only that but some methods may be considered ineligible to claim these bonuses.
So, while you can use credit cards and debit cards, methods such as e-wallets, might not be available to claim the bonuses. The most common e-wallets that cannot be used to claim bonuses are Skrill and Neteller, and in some cases, even Klarna.
By reading the terms and conditions, you will be familiar with the amount that you need to deposit to claim the promotions as well as which method can you use.
Timeframes and Market Restrictions
Next up, some bonuses and promotions may have market restrictions, which means that they might be applicable to certain categories, such as the Champions League, or the football World Cup, or have market restrictions in which players from certain countries cannot claim them.
Additionally, bonuses may have timeframes in which they must be used. Free Bets are the most common bonuses that have timeframes. In most cases, players have around 72 hours to use them. Free Bets are also restricted to the category/sports event on which they can be used.
Finally, we have possibly the most important part of the T&Cs of any bonus and that is the wagering requirements. Wagering requirements are a multiplier that shows the amount that you need to wager before you can claim the winnings from the bonus.
For example, if you have a €10 bonus with x45 wagering requirements, that means that you will need to spend €450 on the (eligible) games before you can claim the bonus.