Every football betting site offers some sort of welcome bonus to new players. Getting the best welcome bonus is an important part of joining a betting site. However, you must remember that each welcome bonus is different, both in terms of size, but also in terms of the rules that apply to them.
We advise you to not only look at the amount of bonus money you will be receiving but to look at the full picture. We want to make sure you get the best possible welcome bonus in every aspect. So the things you need to look at when evaluating a welcome bonus are:
- Bonus amount
- Wagering requirement
- Minimum odds
- Expiration date
The bonus amount is fairly straightforward: how much bonus money is the betting site offering you. The most common welcome bonus is a 100% bonus on your first deposit. In other words, the betting site will double your first deposit up to a certain limit. The limit could be Ksh. 10,000. So let's say you deposit 10,000, then your bonus amount is Ksh. 10,000.
Obviously, if the betting site offers a larger percentage bonus, then the bonus amount will be higher. Take the example of the 1xBet welcome bonus. They will give you 200% extra. So if you deposit Ksh. 10,000, your bonus amount will be Ksh. 20,000. A much higher bonus amount. A higher percentage bonus is a much better bonus.
A wagering requirement is a set of rules that require you to wager your bonus money a certain number of times before they can be withdrawn to your personal account as real money. Pretty much every welcome bonus has some sort of wagering requirement - otherwise, the players would be able to withdraw their bonus money right away.
A typical and fair wagering requirement would be times 3 (x3) or times 5 (x5). This means that you will need to wager your bonus money that number of times before you can withdraw them.
Remember, the lower the wagering requirement, the better!
Some betting sites want you to complete the wagering requirements first, and will then credit your welcome bonus after the fact. For example, the Betway welcome bonus requires you to bet your initial deposit x3 first, and then you will receive a free bet with no wagering requirement after doing this. It's really just a reverse-wagering requirement.
The minimum odds rule is essentially a part of the wagering requirement. It is a rule that requires you to place bets on matches with specific odds or higher. The betting sites enact minimum odds requirements in order to make it harder for players to reach the wagering requirement.
An example of a minimum odds requirement can be found in the welcome bonus from 22Bet. According to the terms and conditions of their welcome bonus, you must place bets at odds 1.4 or higher in order to qualify those bets under the wagering requirement. Odds 1.4 is not unreasonable, but if it gets up to 1.8 then you should be worried.
The expiration date refers to the timeframe in which your welcome bonus will be available. Usually, your welcome bonus will be credited as soon as you make your first deposit, and then you have X amount of time to spend your welcome bonus or complete the wagering requirement if you want to withdraw the bonus.
A typical example of an expiration date is found in the Bet365 welcome bonus. They require you to place all your bets and settle all wagers within a timeframe of 30 days. This should be enough for most players to use all their bonus money or complete the wagering requirement.
If it goes below 30 days, then you should be worried. It can be as low as 7 days, which is really not enough time in our opinion. You can also be lucky to get up to 90 days to use your welcome bonus. The more time the better.