How to Beat Luck and Variance: The Betting Bonus
Making money in the sports betting world isn’t easy. Regardless of whether you’ve assessed the odds, studied the form or received a message directly from lady luck herself, the process of making money can be tough.
One of the main reasons sports betting, moreover betting, as a pursuit can be tough is because of negative variance. A naturally occurring phenomenon in the gambling world, negative variance is, in simple terms, the swings of bad luck you’ll experience when placing bets.
Beating Luck: Using Betting Bonuses
Sometimes, even when you do something right, the pendulum of luck won’t swing in your favour. Of course, when you’re trying to make money this isn’t ideal. Fortunately, however, there is a way to overcome this problem: the betting bonus. Often defined as invisible value, these rewards are handed out to players of all persuasions, both new and old.
In essence, a betting bonus is any extra money you can make beyond your own wagers. Usually taking the form of free bets, cash back or simple betting bonuses, this invisible value is an online sportsbook’s way of saying “hello” or “thanks for playing”.
For example, the first, and most common, betting bonus you’ll find is a deposit reward. An online sportsbook will offer a deposit bonus to all new customers who join their site. These rewards usually take the form of free cash credited to the player’s account and is a direct multiple of the amount of money they deposit.
The Evergreen Betting Bonus
While deposit bonuses are exclusively for new customers, existing customers can also squeeze something extra from their time at a site in the form of reload bonuses. Working in the same way as deposit bonuses, reload bonuses allow a loyal customer to earn free bets or bonus cash when they re-credit their account.
In addition to this, online sportsbooks will often offer extra incentives such as VIP points – which can be exchanged for money, free bets or merchandise – and promotional offers. Indeed, promotional offers are generally given to customers during major sporting events, for example the World Cup or a large horse racing festival such as Ascot. Drawing on a particular theme, they will offer a variety of free bets or money back offers in order to entice people to stake some money.
The reason it’s so important to be aware of these features of the online sportsbetting world is that it’s free money. You don’t need any luck or skill to benefit from them. All you have to do is be aware of their existence and take advantage of them when they do appear. Gambling is all about improving your expectation and by grabbing every betting bonus you can, you’ll boost your bottom-line and increase your overall chances of success.