If you are looking at opening up an online betting account, there are almost countless options, all made that little bit sweeter by sign-up offers of varying quality. Opening a betting account takes little time and with the proliferation of payment options it is easier than ever before to deposit and withdraw funds in order to manage your betting resources efficiently. So, here are some of the things you need to know when signing up.
The type of offers offered by bookmakers vary and those that you choose should be compatible with the type of sport that you prefer to bet on. For simple deposit bonuses (matching a percentage of the initial deposit) or free bets (meaning no initial deposit is required) then the sport is inconsequential, but do check to see if minimum odds are required in order to claim the free bet. Also be aware that sometimes the stake in the free bet is not returnable. Other typical offers that are not necessarily connected to signup (meaning they are ongoing promotions for existing customers) include best-odds guaranteed offers, often on horse racing, best-price offers related to starting price (meaning if the starting price is better than the odds you backed at then you get that better price) and of course a multitude of football-based offers including 0-0 bet returns and so on. The key is to always research the offer before signing up, and bear in mind the sport you will be primarily betting on.
Wagering or Playthrough requirements
As previously mentioned, many online bookmakers will offer to match your initial deposit upon signing up (or a percentage thereof), meaning that if you deposit €100, you will receive an additional €100 to bet with. Of course this amount has limitations, and one of the most important features customers need to consider is that this offer will be offset by a playthrough requirement which means that a customer must stake a minimum of a certain amount over their initial deposit before any withdrawals can be made.
For example, in the case of making a deposit of €100 (and receiving an additional €100 to bet with), a player may be obliged to stake a minimum of 3 times the amount of the original stake (€300) before any withdrawals can be made. Of course this can be staked over a significant period, but no withdrawals can be made until a total of €300 has been staked. Details about the playthrough amount are always included in the bookmaker’s terms and conditions, and this requirement was deemed necessary in order to protect the bookmaker against bonus abuses, and should have no bearing for casual bettors.
All experienced online gamblers know the benefit of having multiple betting accounts, for the double advantage of the enticement of the sign-up offers, and in order to be able to use the best odds available when placing a bet, which can very often be the difference between making money and not. Of course multiple accounts also means multiple bankroll management, so consider this wisely before proceeding.
Anything else I need to know?
Keep an eye out for the multitude of promotional codes on offer at any one time as these can bring further benefits upon opening an account. Similarly, once your account is open, take advantage of any further offers to existing customers that are communicated through your account inbox or via your email address that you provided at the time up sign-up. In-play offers on various events and matches are also a particular highlight of the promotional setup.
By: Steve Paget