Types of Matched Betting
Bookmakers often provide promotions in the form of free bets to encourage customers to sign up for a new betting account. The growing popularity in online betting has created a more competitive marketplace for bookmakers who are all working to attract the same customers. One way that bookmakers can make themselves stand out among the competition is by offering promotions in the form of free bets, bonuses and other incentives upon sign up and/or after placing the first bet. Although bookmakers don’t really profit from these deals, they are often successful at enticing new customers to sign up for repeat business.
In matched betting, there are two main types of these promotional offers: Welcome Offers, which are restricted to new customers, and Reload Offers, which are typically generated after the first bet, and which are designed to keep the bettor coming back to the site.
These types of matched betting offers, typically offered by the bookmaker for first-time bettors or as one-off promotions, are designed to get more bettors into the pool. Also known as free bets or Stake Not Returned (SNR) bets, these offers typically don’t have the restrictive wagering requirements that some offers use to have. This allows customers to place smaller bets and still make a decent profit. However, these free bets aren’t given immediately, as they typically require that an initial bet, also known as a qualifying bet, be placed before the free bet offer can be activated.
There are many different types of free bets and promotional offers for new customers. Many welcome offers in matched betting have minimum odds requirements and require that the initial bet be placed at or above the bookmaker bet. They are also typically restricted to first time users. Here are a few of the most common types of welcome offers and promotional deals that you can find:
● Bet X, Get Y: Customer receives free bet based on the first qualifying bet
● Refund Bonus: Customer receives a refund if they lose the first bet
● Deposit Bonus: Customer receives a bonus when they make a deposit
Current Customer Offers
Bookmakers like to keep their customers coming back for more and they do this by offering reload bonuses in the form of free bets that are rewarded based on customer loyalty and one-off opportunities. Reload offers can potentially be extremely profitable for those who consistently place bets, and they start rolling in once a new customer has created an account and placed their first bet.
Each bookmaker has their own specific reload offers and terms and conditions for customers, but here are a basic examples of what you may find at different betting sites:
● Free Bets
Much like the new customer free bet, one of the most common reload offers includes a free bet once a certain £ amount of bets have been placed on a specific event. For example, a customer may be offered a £10 free bet if they place a £30 bet on England vs France in the World Cup.
● Deposit Bonuses
Unlike free bets, these types of promotions include cash awards which are credited to your account based on a percentage of the initial customer deposit amount. Typically, there must be a qualifying bet placed and certain betting requirements met before you can access the bonus amount.
● Bet Refunds
These are refunds on bets that are made and lost. These types of offers are also risk-free as you have no chance of losing. Sometimes however, they will offer the refund as a bet credit instead of cash.
Terms and Conditions for Customer Offers
When taking advantage of the many different welcome offers and promotional bets that you’ll find, it’s important to pay special attention to the terms and conditions in order to make sure you profit. Free bets and other promotional offers aren’t necessarily profitable for the bookmaker and they include specific rules and conditions that must be followed to prevent customers from taking advantage of them. Check the fine print carefully for rules about betting against minimum or maximum odds, placing a minimum or maximum stake amount and submitting a special promotional code via email or the bookmaking website.
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