Sports betting is a popular activity in the UK. In fact, the number of bets placed tend to peak before weekend matches start. However, picking a bet that has a good bonus is not as easy as placing a wager. Below is a detailed look at betting bonuses.
An Overview of Betting
In the UK, betting refers to predicting the results of one or multiple events and backing up the prediction with a wager. According to the UK’s Gambling Commission, people in Britain can bet on the outcome of sporting events, whether anything is true or not, and the likelihood of an event occurring or not occurring. In addition, the Gambling Act 2005 allows betting on an event that occurred in the past and its outcome is known.
Types of Bets
The most common and popular form of bet in the UK is “fixed odds sports bet.” This means one places a wager to win a fixed prize, which is calculated using the available odds. Besides this type of bet, consumers in the UK can use spread betting to speculate on the prices of shares, financial and stock market indices, currencies, precious metals, and commodities. The Financial Conduct Authority (FCA) regulates spread betting, whereas the Gambling Commission regulates sports betting.
Types of Betting Bonuses
Bookmakers offer various bonuses to entice consumers to bet on diverse events. These bonuses can be broken down into the following categories:
- Money back bonus
Betting houses offer to refund money wagered on selected events provided certain conditions are met. For instance, a bookmaker may offer to refund money if a certain player scores in a game.
- Sign up and reload bonus
Most bookmakers offer deposit bonuses to first-time customers.In addition, they offer bonuses to customers who reload their accounts.
- Loyalty bonus
To avoid losing their customer base to competitors, bookmakers regularly offer loyalty bonuses.
- Mobile bonus
Some bookmakers offer bonuses to customers who access their platforms via mobile devices.
- Special bonus
Betting houses offer all manner of special bonuses to keep their customers engaged.
- Free bet bonus
Some bookmakers offer free bet bonuses when customers place at least one bet.
Tips for Choosing A Betting Bonus
Firstly, when picking a good betting bonus, find out if you qualify for the bonus on offer. Secondly, do not bet on event you are not familiar with simply because the bonus is attractive. You are likely to lose the money wagered and the bonus as well. It is also advisable to pick a bonus that does not have too many strings attached and is easy to access. For instance, a bonus that you can withdraw after earning it is more sensible than one you cannot access immediately. Finally, it is wise to go for a bonus offered by a reputable bookmaker.
The UK has a vibrant sports betting industry. To encourage people to bet, bookmakers often offer different types of bonuses including sign up, account reload/top up, free bet, loyalty, mobile, and money back bonuses.