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No Deposit Bonus for Sports Betting
Sports betting makes watching sports several folds more exciting. Though the number of people who watch, follow, or play fantasy leagues, is significantly high, only a fraction of this population venture into betting with real money. Though more people have a strong inclination to bet, they tend to shy away from trying. For people who have always wanted to bet, but do not know where to begin, the best way to start is by taking advantage of the sports betting no deposit bonus.
What is No Deposit Bonus?
Sports betting no deposit bonus is usually a small cash bonus that online sportsbooks offer to punters who sign up for a new account, as a token of appreciation for signing up with them. The cash bonus can be used right away to wager on any bet listed on the site. Though the bonus offered is not very high, if it is effectively rationed, the bonus can be used to place several bets, and get a decent understanding of how everything works, and maybe even win some more cash.
Why is No Deposit Bonus Offered?
Though sports betting is a huge industry, there are way too many sportsbooks in the market, and more sportsbooks are entering the market every year. Also sportsbooks that are well established in a country, are trying to get a global foothold. All this has led to an intense competition among them, and has forced them to find new ways to attract punters to their site. No deposit bonuses for sports betting, where free cash is offered for betting is one such strategy to attract new users. Who doesn't like free cash?
Types of No Deposit Bonus
The type of no deposit bonus offered varies from sportsbook to sportsbook. The most common type of bonus offered is the free cash bonus. When a new account is created, bettors get an automatic cash credit, which can be used to start betting right away. The amount of cash credit offered will vary among sportsbooks. Some new or less prominent sportsbooks might offer a higher cash credit to attract punters to their site. There are several resources online, that provide extensive information about the type and amount of bonus offered by various sportsbooks. It is suggested for newcomers to look for that information, to compare and find the best offer.
No Deposit Bonus Withdrawal Rules
Though the no deposit bonus is free cash credited to the punters account, the cash credited cannot be withdrawn from the account, until certain minimum requirements laid out by the sportsbooks are met. The two main requirements are:
This rule requires the bonus amount to be wagered a certain number of times. For e.g. if a sportsbook offers 25 Euros as no deposit bonus and requires a 7X turnover. Punters will have to wager at least 175 Euros before the 25 Euro bonus can be withdrawn. Different sports will have different multiples for the turnover requirement.
Minimum odds requirement
For the rule, the amount wagered on a bet will count towards the turnover limit, only if the bet has a certain minimum odds. Wagers on bets that have lower than the minimum odds, will not count. For e.g. if the turnover amount is 175 Euros and the minimum odds requirement is set at 3/4 (1.75), a 50 Euro wager on a bet with odds of 4/5 (1.80) will count towards the 175 Euro turnover, and a 50 Euro wager on a bet that has 1/2 (1.50) odds, will not count.
Is No Deposit Bonus Too Good to be True?
Why online sportsbooks offer free cash to everyone who signs up with their site might be a little confusing, and make one wonder if there is a catch. At the outset, it might seem like a bad deal for the sportsbooks, but it is really not. No deposit bonuses offer a win-win situation for both the punters and the sportsbooks. Punters, on one hand get to try out the site with free cash. Sportsbooks on the other hand, have the opportunity to attract punters to their site; who without the bonus might not do so, and possibly get a deposit from them in the future. With the minimum requirements clause, sportsbooks might not lose any cash at all, even if they do, it will be more than offset by the deposits that new signups will bring.
Is There a Catch?
There is absolutely no catch at all with no deposit bonuses. There is no agreement for a long-term commitment or no promise of future payments. In fact, new punters who signup don't even have to provide any financial information. The bonus is for them to use, and any credit left after the minimum requirements are met can be withdrawn, and punters can be done with the sportsbook for life.
Some sportsbooks might set a pre-defined period before which the bonus has to be used. If the minimum betting requirements are not met before the expiry period, the bonus offered might be withdrawn.
Caution About Bad No Deposit Bonus Rules
Though the bonus offered comes without any catch, some sportsbooks will have very stringent requirements that have to be met, before any part of the bonus or winnings from the bonus is withdrawn. The turnover requirement, or the minimum odds on bets, or both will be unreasonably high. The intent of such rules is to prevent the bonus from ever being taken out. Nothing is more frustrating than, getting excited about winning with free cash only to find out that the cash cannot be withdrawn. Punters have to carefully read through all the rules, and make sure there are no bad rules, even before signing up for a new account.
No Deposit Bonus Misuse
Though the no deposit bonus is offered by online sportsbooks in good faith, it has been subject to a lot of misuse. The anonymity of internet makes it easy for someone to create multiple new accounts on a site and claim multiple no deposit bonuses. Plus there are bonus hunters, who hop from site to site only to claim the bonus and no real intent of testing if the site is right for them. Though sites have relied on technology to prevent such misuse, it is still not completely foolproof. This has shied away a lot of bookmakers from offering such freebies.
No deposit bonus is a great option for both, newcomers who would like to get their feet wet in sports betting, and experienced punters who would like to try other sportsbooks. It offers a risk free trial before any real money is deposited. Though there is no catch, it comes with rules and it is important to understand those rules. Several sportsbooks offer a no deposit bonus, and if it's put to good use, true punters will surely find the site that's just right for them.