Common Sportsbook Bonuses Explained
The number of online sports betting companies in Nigeria has grown rapidly, offering more choices for experienced punters but also presenting challenges for newcomers to sports betting. With so many options, it can be confusing to know where to begin. One common difficulty for beginners is understanding the different types of bonuses offered by sportsbooks.
These bonuses are like rewards given by sports betting companies to attract new customers, keep existing ones, and encourage them to bet more. Ideally, they benefit both the bettor and the sportsbook: the bettor has a chance to win more, while the sportsbook gains a loyal customer.
Understanding these bonuses can help you feel less overwhelmed and choose the best sports betting platform. This article will explain the most common types of sportsbook bonuses, how they work, and how you can make the most of them.
To make an informed decision, remember to check out our guide that provides a step-by-step process for choosing the best sports betting sites based on your preferences. You can also find information about the latest offers and promotions from Nigeria’s best betting sites here.
Give a boost to your next sports bet
Give a boost to your next sports betFree Bet
A free bet is essentially what the name implies – a bet you can place without having to stake any of your own money. Sportsbooks offer this bonus to new and existing customers for a variety of reasons, such as a sign-up offer or a reward for regular betting.
Once you make a deposit, the sportsbook provides you with a set amount of money that you can use to place a wager on a game or event of your choice. However, free bets typically cannot be withdrawn as cash.
For example, a sportsbook might give you a ₦500 free bet when you sign up. You can use this bonus to place a bet on any sport of your choice. However, if you win, you typically only receive the winnings, not the original stake.
In Nigeria, many sportsbooks offer free bets to entice new customers and reward regular bettors. These free bets are often given as a percentage of your deposits or wagers over a certain timeframe.
Here are our top four sportsbooks offering a free bet bonus:
- BetKing: New customers who sign up from February 2024 get 10% back in free bets every day for real money bets on sports or virtual games up to ₦600,000 over 14 days.
Register and Get ₦600.000 in Free Bets- BetBonanza: Both new and existing customers can earn ₦500 unlimited free bets for every cycle of five accumulator bets placed with their Acca Loyalty Offer.
Acca Loyalty Offer: ₦500 Freebets- Mozzartbet: Their “First Ticket Can’t Lose” promo allows newly registered and existing players to receive weekly refunds of up to ₦5000 on their initial weekly deposits to be used as free bets.
First Ticket Can't Lose: ₦5000 Free Bets- Bet9ja: They offer “free bets” in two ways:
- Bet9ja Rewards: Earn points for every ₦100 bet, which can be redeemed as bonus cash.
Bet9ja Rewards-
- Sportsbook Bonus: Receive free bets as a percentage of your deposits over a period.
Sportsbook BonusNo Deposit Bonus
A no deposit bonus is a bonus that sportsbooks offer without requiring you to deposit any money into your betting account. Commonly used to attract new customers, this bonus allows you to try out the platform and potentially win without risking any of your own money.
However, it’s important to note that no deposit bonuses are quite rare in Nigeria. This is because they present a higher financial risk for the sportsbook, as they offer potential winnings to players without any guarantee of them making future deposits.
Risk-Free Bet
A risk-free bet is a bonus where the sportsbook promises to partially or fully refund your stake if your bet loses. Some Nigerian sportsbooks offer a special type of bonus instead of the usual “risk-free bet” found in other places. These bonuses act like insurance for accumulator bets, giving you money back if you lose under certain conditions.
For example, with Betking’s “Flexicut,” you can choose how many losing picks you want your bet to “cut” and still win. So, if you have an acca bet and lose one or more (up to the number you choose), you will still get paid. Learn more about this feature here.
FlexiCutFlexiCutAnother example is Mozzartbet’s “Refund” feature. If you lose one pick in your acca bet, they give you back up to 100x of your stake based on the odds of your bet and the odds of the losing pick. Click here to learn more about the Mozzartbet Refund offer.
Get 100x Your Stake in RefundsGet 100x Your Stake in RefundsDeposit Match
A deposit match is where the sportsbook matches a percentage of your deposit with bonus funds. This is typically offered to new customers and can be a great way to boost your betting balance.
For instance, if a sportsbook offers a 100% deposit match up to ₦5000 if you deposit ₦5000, the sportsbook will give you an additional ₦5000 in bonus funds. However, these funds usually come with wagering requirements that you’ll need to meet before you can withdraw any winnings.
Here are our top sportsbooks offering a deposit match welcome bonus:
- 1xbet: 300% Welcome Bonus Up to ₦145,600 on your first deposit.
300% FIRST DEPOSIT BONUS UP TO ₦145.600- Mozzartbet: 200% Triple Welcome Bonus up to ₦150,000 on your first deposit
200% TRIPLE WELCOME BONUS UP TO ₦150,000- Betwinner: 200% Welcome Bonus Up to ₦100,000 on your first deposit.
200% Welcome Bonus up to ₦100.000- Betano: 100% Welcome Bonus up to ₦200,000 on your first deposit
100% WELCOME BONUS UP TO ₦200.000- BetBonanza: 100% Welcome Bonus up to ₦100,000 on your first deposit.
100% WELCOME BONUS UP TO ₦100.000- Wazobet: 110% Welcome Bonus Up to ₦55,000 on your first deposit.
110% WELCOME BONUS UP TO ₦55.000- 22bet: 100% Welcome Bonus Up to ₦105,000 on your first deposit.
100% WELCOME BONUS UP TO ₦105.000- Melbet: 100% Welcome Bonus Up to ₦50,000 on your first deposit.
100% WELCOME BONUS UP TO ₦50.000You can also find more information on the top Nigerian sports betting companies offering welcome bonuses here.
Enhanced Odds
Enhanced odds are promotional offers where the sportsbook boosts the odds for specific events, giving you a chance to win more than the standard odds would allow. These offers are typically available to both new and existing customers.
Certain sportsbooks will also offer boosted odds in general rather than a bonus to lure new bettors.
Here are our top three sportsbooks offering enhanced odds:
- Betano: Enhanced OddsEnhanced Odds
- Betking: Enhanced OddsEnhanced Odds
- Betway: Super Boost SaturdaySuper Boost Saturday
Early Payouts
Early payouts are a type of promotion offered by some sportsbooks that allow you to collect your winnings on a bet before the event has even finished, regardless of the final outcome.
For example, a sportsbook might offer an early payout on a matchwinner bet if your chosen team leads by a certain margin (often two goals in football or a certain number of points in other sports) at any point during the game.
Betano is the only sportsbook in Nigeria offering early payouts in prematch matchwinner markets for different sports.
2 Goals Ahead? You've Already Won!2 Goals Ahead? You've Already Won!How to Use Sportsbook Bonuses
There are many ways to use sportsbook bonuses. However, it depends on the type of bonus and the terms and conditions set by the sportsbook. A common approach for beginners is to place a safe bet on a favourite with their free bets, which makes sense considering some Nigerian sportsbooks set a cap on how much you can win with free bets.
However, you can also spread your welcome bonus across multiple bets or use it on a high-risk, high-reward wager. The key is to understand the specific terms and conditions of each bonus so you can use it to its full advantage.
What are Sportsbook Bonus Rollovers?
Rollovers are conditions that sportsbooks put in place to ensure that bettors actually wager with them before withdrawing a bonus.
For instance, if a sportsbook offers a ₦10,000 welcome bonus with a 5x rollover, you’ll need to place bets totalling ₦50,000 before you can withdraw any winnings from the bonus. This prevents customers from simply claiming a bonus and immediately withdrawing it as cash. Our guide on Sportsbook Bonus Rollovers does an excellent job of explaining these wagering requirements.
100% Welcome Bonus Up to ₦50.000100% Welcome Bonus Up to ₦50.000Are Sportsbook Bonuses Worth It?
Sportsbook bonuses can definitely be worth it, especially for new bettors looking to increase their betting funds or for experienced bettors seeking to get more value from their bets.
However, it’s important to bet with a legally operating sportsbook and to understand the terms and conditions, such as rollover requirements and expiration dates. While you can’t withdraw bonus bets as cash, they can lead to real-money profits if used on winning wagers.
