What is a First Deposit Bonus?
A first deposit bonus is a bonus new customers receive on most casino and sport betting sites when they make their first deposit. Some first-time bonuses are money bonuses. A popular bonus for sport gambling sites is doubling the amount of money the customer deposits. If a customer deposits £25, the site will give them a £50 bonus. On some sites, the bonus can go up to £200. On other sites, first-time customers will receive free spins on a roulette table or better odds on a sporting event.
First Deposit Bonus Explained
A first deposit bonus is not easy money. First-time customers should always read the terms and conditions of such promotions carefully. Bet365, for example, has what it calls a 100% deposit bonus, meaning it will double your first deposit of a value of up to £50. This sounds great until you realize that there are many countries, including European countries, where its deposit bonus is not valid. Bet365 also state that gamblers must have settled bets three times the value of their qualifying deposit and bonus before they are allowed to make a withdrawal, while only bets at odds of 1.50 or higher count towards it.
For many people, the best way to claim the money with no risk involved is through matched betting. The gambling companies hate it and if they find out a customer is doing it they can lock the customer’s account. It is, however, a legitimate way of betting. Customers will open an account with a site such as Matchbook or Marathon, where they can lay a bet. They will go back to the site they received the first deposit bonus and place a bet for a team to win. They then go back to Matchbook and lay a bet against the same team.
Because of the difference in odds between the two sites, they may lose a little money (up to a few pounds for a large bet), but the bonus means they will remain largely in profit.
View the best casinos for bonuses.