Sports betting bonuses are one of the biggest differences between betting on land and betting online. Modern punters prefer to bet online primarily because of the wide variety of bonuses available. How well do you understand the different types of sports betting bonuses? It's not as simple as you think.

A sports bonus can be a great way to earn more money. However, you will almost always have to comply with certain conditions. You will have to meet certain conditions for any bonus, whether it's a free bet or a wager. This article will guide you through the world of sports betting bonus offers, and also how SOFTSWISS has changed the game by offering unique bonuses that are exclusive to its SOFTSWISS Sportsbook Platform.

Explore the world and let's get started.

Types of Sports Betting Bonuses

Here are six of the most common types of sports betting bonuses:

Wager Bonus

Express Bet of the Day

Comboboost

Freebet

Bet Insurance Bonus

Cashback Bonus

A well-rounded combination of these bonuses is an effective strategy when it comes to acquiring or retaining customers.

Wager bonuses are sports bonuses that have wagering requirements in order to convert them into cash. There are several types of wager bonus: Sign-Up Bonuses (given to you after your first deposit), Event bonuses (given on special occasions and sports events), etc.

What is the process?

You must wager a specified number of times to convert the bonus. The amount of the wager can vary from one bookmaker to another.

Add some maths to understand how this bonus works. If the betor deposits $100 and receives a 100% deposit bonus, then he has $200 in his pocket. Assuming that the wager was x12, the player would need to multiply 12 by $200, which is $ 2,400. To cash out the bonus, the player must wager $2,400.

You can see that the total value of both the deposit and Wager Bonus is normally added up. The wagering requirements apply to the entire amount.

This is without a doubt the most common and popular sports bonus. It's important to remember that the wagering bonus system becomes increasingly complicated for the player. To withdraw the winnings, they must bet a large amount.

Express Bet of the Day

The Express of the Day, in essence, is a bonus for sports with a set of pre-selected events that have a bonus rate included.

What is the process?

The number of Express Bets that can be collected by a bookmaker in the Express Bet of the Day are unlimited. The player must accept the terms to place the bet. If the player makes a change, the bet becomes a normal express and is not subject to odds multipliers. The bookmaker gives the bonus and the player decides if he wants to take the risk.

Comboboost

Comboboost can only be used for express bets. This bonus for sports betting gives players additional odds to increase their potential winnings.

What is the process?

The player can combine several single bets into one Express bet. The bookmaker may have his own criteria for determining if a player qualifies to receive Comboboost. The number of express wagers, odds etc. can all be considered. The bookmaker will offer special odds if the player meets the required criteria.

If your winnings are 800$, the bookmaker will give you special odds that increase the amount to 960$. The Comboboost offers a lucrative sports bonus to bettors. If the wager is successful, the customer will win more. However, if it fails, they only lose the amount of the wager.

Freebet

Freebets are the most common bonuses. Freebet can be used for express bets and single bets. It is also available during live matches and in pre-match activities.

SOFTSWISS Sportsbook offers three different types of freebets.

No risk

AllWin

OnlyWin

How does No Risk work?

The player decides whether to use the risk-free bonus or select an event. The player approves his bet and we now have three different variants.

The bet is successful. The bonus is deducted from the player's winnings.

The bet is lost. The player receives his wager amount in real cash (no wagering requirements). The bonus amount is written off.

The bet is partially successful. The player receives his winnings. The bonus is written off.

How does AllWin work?

A player places a wager with money not visible in his wallet. Bookmakers let players bet using company funds. The player receives his winnings in real money if the bet is successful. If the bet is lost, there's no loss for the player. It's a win-win situation.

How does OnlyWin work?

This sports bonus is a betting bonus that allows the player to place a bet using bonus money, but it does not credit the player's wallet. The player will receive the difference in real money if the wager is successful.

Bet Insurance

Players who are unsure if they will win their bet can opt for betting insurance. Some sportsbook brands allow players to insure their bets at any time. It is a paid service that comes at an additional cost. Others offer it as a free bonus.

What is the process?

The cost of insurance is often determined by the odds that are currently available for a specific outcome. You can either insure your rate 100% or partially. You can insure both ordinary and express bets. The player gets the insured amount back if a bet loses. This is a great option for all players, as the risk is reduced and winnings aren't cut.

Cashback

There are several types of bonuses. The Cashback Bonus is the most lucrative for the customer. Classically, a partial refund of a lost bet is the option. For instance, 5% on a bet lost. Cashbacks are usually limited to a particular sport, championship or competition. They can also be for just a single or few games.

What is the process?

Cashback is usually returned in the form of a wagering bonus or free bet. The sports brand that you select will determine the amount of cashback. This bonus type is the most popular among players. When the team that you were hoping to win loses, or you are just having a bad run, it's uplifting.

The process of converting winnings into real money can be complicated by the bonuses that are offered. The sportsbook companies have often strict wagering requirements to convert winnings into actual money. It is a difficult process, as it requires several steps to be completed.

Sportsbook by SOFTSWISS is offering its players a cashback in real money, or a free bet. We are committed to providing the best service possible.