Being able to claim a bonus and boost your bankroll is one of the many joys of playing online casino games. It adds to the thrill and excitement you feel when you go against the house and win big.
However, If you want to maximize the impact your bonus or promotion will have, you need to know how to leverage them to maximize their potential. This article will help you understand more about bonuses and promotions on online casinos.
Understanding Online Betting Bonuses and Promotions
While bonuses and promotions are usually used by online casinos to attract new users and keep the ones on the platform interested, they are more than just simple gimmicks.
If you understand the various types of bonuses available, and the strings that often come attached to them you can leverage them to your advantage.
The first thing you need to know is that there are many types of bonuses and promotions that an online casino can choose to give you. Consider the following:
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Sign-up Bonuses
A sign-up bonus is exactly what it sounds like. It is a bonus that is awarded to new players as a kind of “welcome to the platform” gift. It can come in many different forms, such as an amount that you will receive when you register, or a discount on your initial deposit.
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Deposit Bonuses
An online casino can try to entice users to deposit more money on the platform by offering a deposit bonus. This can be done in the form of a mirror promotion, where the platform will give you, for example, a 100% bonus on your deposit. This means if you deposit $100, you will get an extra $100 from the casino.
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No-risk Wagers: Free Bets
Also called risk-free bets, no-risk wagers allow you to place a bet without the risk of losing any money. If your bet is a successful one, you will receive winnings (minus the stake), which you can withdraw or use to carry on betting.
Five Ways to Use Your Bonuses to Boost Your Bankroll
Once you receive your bonus from the online casino, you will be free to use it whichever way you choose. This means you have to think carefully about how you can leverage your bonuses and promotions to boost your bankroll.
Far too often, the excitement of receiving an extra chunk of money in their account leads to some rash decisions being made by players. If you want to do things differently, here are five proven ways to leverage bonuses:
1. Bet Underdogs
In ordinary circumstances, it is normal to shy away from betting on the underdogs because of how the odds will be stacked against you. However, since this is a bonus, you have nothing to lose by taking a carefully considered yet very risky bet.
Plus, most online casinos will not allow you to use your bonuses to bet on huge favorites. There is often a cap placed on the odds you are allowed to bet on using your bonus. As such, you might as well take this opportunity to go big and bet on an underdog.
2. Parlays
Parlays are not always a bad idea, and when well-thought-out, they can help you win big from relatively low stakes. The downside of parlays is that you will increase the variance on your bet because you are expecting multiple things to happen, while the sportsbook is giving you a worse price than the real probability of the bet.
In this case, you can choose a few bets with favorable odds so that when combined they will give you a great parlay for your stake. The alternative will be to go for a single bet that offers the same odds as your combined parlay.
3. Futures
Many players avoid futures because they do not want the sportsbook to hold their winning for many months after the match. There are a lot of things you could do with that money in the meantime.
However, if you have always been a bit curious about how playing futures feels like, when you have a bonus to play around with, this is the best time to find out. Just remember that when playing futures, you need to fully understand the terms and conditions.
Besides holding on to your money for so long, sportsbooks will often keep a huge percentage of your winnings for themselves. This makes using bonuses for playing futures a poor mathematical choice.
4. Free Bet Conversion
Free bet conversion is a great way to ensure that you get at least some of the bonus in guaranteed value. If you do it right, you can get at least 70% of the money you have received as a bonus. Since you are using a free bet, losing a percentage of the money will not matter because you received it from the bookmaker to begin with.
5. Free Roll
With a free roll, you bet both sides of a game so that no matter what happens you will walk away with something. This is because when one bet loses, the other one wins. In reality, the sportsbook avoids this by ensuring such free rolls always result in the player losing money.
However, in this case, since you are using a free bet, it does not matter that you will lose a huge chunk of it by doing a free role. What matters is that you will be guaranteed to walk away with something when the bet is complete.
Final Word
If you are considering registering on an online casino, you need to shop around for one that offers the most attractive bonuses and promotions to help you get started. A good option is to register on Bet999, where you can enjoy Plinko 3 and many other awesome online casino games.
However, once you receive your bonus, be sure to think carefully about how you can leverage it to boost your bankroll. Some bonuses, such as the sign-on bonus, will only come around once, so you need to try to make the best of them.
