How Wagering Works on Online Betting NZ Sports Bonuses
Betting online has many advantages, including being able to place multiple wagers on local and international sports at any given time. Another major advantage of betting online is being able to take advantage of the various sports bonuses and free bets available at online betting NZ sites. For those who are new to the world of online and mobile betting, sports bonuses are incentives given to punters when they first sign up, much like a casino would reward players with a welcome bonus.
The online betting industry is extremely competitive and betting sites are constantly coming up with new ways to attract customers and keep them coming back for more. The way they do this is by offering welcome bonuses and free bets.
The Welcome Bonus
The most commonly offered sports bonus at online betting NZ sites is the welcome bonus. This usually comes in the form of a cash match bonus up to 100%. What this means is that the betting site will double whatever amount you initially deposit up to a certain cash limit. For example, if you deposit $50 into your account, the betting site will also give you $50, and your account will reflect a total of $100. Sometimes, online betting sites also throw in free bets or simply offer one or the other. For first time punters, welcome bonuses can be lucrative, if you know how they work and you read the fine print. All sports bonuses, no matter how big or small come with terms and conditions attached.
There are two important things to look out for when accepting a welcome bonus at a betting site or a casino. The first piece of info you should look at is the cash match limit, and the second is the wagering requirement. The welcome bonus cash limit differs from site to sit but usually ranges between $50 and $200. While it may seem like the best idea to go for a higher cash limit, it may actually be detrimental if the wagering requirements are quite strict.
Reading the Fine Print
Anyone familiar with online casino bonuses will be well acquainted with the mechanics of wagering requirements. Wagering requirements are specific betting requirements linked to the bonus itself. This is usually expressed as a number such as 10x, 15x or 35x. The x represents a multiple of the bonus amount and determines how much you have to wager in order before you can cash out any winnings from your bonus.
For example, if a sports welcome bonus were advertised as a 100% cash match up to $100 with a wagering requirement of 5x, this would mean that you could theoretically deposit $100 and get $100 for free. However, before you can cash out any winnings on bets made with your bonus, you would need to wager 5x your bonus amount ($100) or $500 before you can do so. If the wagering requirement were 15x you would need to make $1500 in real money bets before you can withdraw any subsequent winnings.
In some cases, online betting NZ sites will restrict the type of bets that can be placed to a specific sport and market. While not used as much on welcome bonuses, betting restrictions apply to free bets. With free sports bets, the online betting site will give punters a cash value such as $25 for “free” to place a bet once they have signed up and make a deposit into their account. However, the bets must be placed on specific sports, specific markets and at odds of 2.00 or below. Sometimes, the free bets have a rollover requirement which means that the total bet amount has to be bet 4 or 5 times over before the any winnings made on the free bet can be withdrawn.
Free bets and bonuses at online betting NZ sites and at a casino can be very lucrative, but you need to know how best to use them to maximise their advantages.