Bonus bets

new customers and reward existing ones. In Australia, they've become a popular aspect of online sports betting. Think of them as a form of credit you can use to place wagers without using your own money. However, there are important distinctions compared to using your regular balance.

Typically, when you use a bonus bet, the stake isn't returned with your winnings. For example, if you place a 50 bonus bet on a horse with odds of 3.0 and it wins, you'd receive 100 in winnings (50 x 3.0), not 150 (50 x 3.0 50 stake returned). Always check the specific terms and conditions.

How Do I Get Them?

Bookmakers often provide bonus bets to new customers upon signing up and making their first deposit. This is a common welcome offer designed to incentivise joining their platform. Existing customers can also receive bonus bets as part of ongoing promotions, loyalty programs, or for participating in specific betting events like the Melbourne Cup or AFL Grand Final. Keep an eye on the promotions pages of your preferred bookmakers.

Key Considerations for Bonus Bets

Before you jump in and start using bonus bets, its vital to understand the terms and conditions attached. These can vary significantly between different bookmakers and promotions. Pay close attention to these key aspects.

Wagering Requirements and Expiry Dates

Bonus bets frequently come with specific wagering requirements. This might mean the bonus bet needs to be used within a certain timeframe, like 7 or 14 days, or on specific markets, such as on a particular sport or only on fixed odds. Expiry dates are also common; if you don't use the bonus bets within a specified period, they'll expire and you'll lose them. Always read the fine print.

Eligible Markets and Odds

Some bonus bets are restricted to certain sports, bet types, or even minimum odds. You might not be able to use a bonus bet on every market offered by the bookmaker. Check whether there are specific odds that must be met for your bet to qualify. For instance, a bookmaker might require minimum odds of 1.50 or higher for a bonus bet to be valid.

Maximising Your Bonus Bets

Using bonus bets strategically can enhance your betting experience. Here's how to make the most of them:

• Understand the Terms: Always read the terms and conditions.
• Choose Wisely: Select bets with a good chance of winning.
• Compare Offers: Check different bookmakers for the best bonuses.
• Time Your Bets: Consider expiry dates and major events.
• Manage Your Bankroll: View bonus bets as a supplement, not a replacement.