What is a Welcome Bonus?
Well, let’s start with the most obvious question, as before we dive into the specifics of welcome bonuses, you need to know what they represent exactly. A betting welcome bonus is an incentive that newly registered players get upon signing up on a site and making their first deposit.
You can think of welcome bonuses as a thank-you note for registering on the site. Note that welcome bonuses tend to have the most extensive terms and conditions, mainly because you may be asked to verify your account before you can use the bonus, and you might need to make a higher initial deposit.
What Types of Welcome Bonuses Are There?
Different bookies in Nigeria have different marketing strategies, so everyone seems to offer a different welcome bonus. We see that as a big advantage, as the more innovative bonuses are, the better deals punters can get!
On the other hand, our research has shown that there are some offers that are more common than others:
- Deposit match bonuses – in most cases, a sports betting site will welcome you by matching your first deposit up to a certain percentage and a sum. The extra funds you get can be a real helping hand in boosting your bankroll and potential winnings!
- Free bets – another type of promotion that is very popular among punters, and it is a self-explanatory one. A free bet will see you get extra funds without risking your own money, so you can see why this is a highly sought-after bonus. If you win by using the free bet, you only get the amount you have won, not the betting one.
- Risk-free bets – of course, no one can guarantee you that your first bet will win, but some bookies go the extra mile with their welcome bonus by offering you a refund if your first bet loses.
- A large number of betting markets
- Betting with cryptocurrencies
- In-play betting and live-streaming
What are Wagering Requirements on Welcome Bonuses?
For many, wagering requirements are arguably the most important part of the terms and conditions of any bonus. The welcome offer may seem like a very rewarding one on the surface but never rush into claiming it before checking the wagering requirements.
They represent the number of times you have to play through the bonus amount before you are able to make a withdrawal. For example – let’s say you receive a $100 bonus with 10x wagering requirements. This means that you have to play through the $100 amount 10 times before you are eligible for a withdrawal – it translates to $1,000 in bets.
Keep in mind that welcome bonuses sometimes have more restrictive wagering requirements, and they always have a period in which punters must complete them before any winnings are forfeited.
Do Odds Have an Impact on The Welcome Bonus?
Yes, they do! Online bookies must protect themselves against bonus abuse, so among the terms and conditions, they will specify the minimum odds you must include in your selections when you use the offer.
For example, a common practice among bookies is to specify that every bet slip you make with the welcome bonus must have at least three selections with odds of 1.40 or higher. Bets that don’t satisfy that criteria will not count towards the wagering requirements.
Real Welcome Bonus Examples
A theory is one thing, but it is worth nothing to plenty of newbies in the betting sector without a couple of practical examples. We mentioned above that there are three common types of welcome bonuses you can expect at bookmakers in Nigeria, so let’s see an example for each of them:
- Deposit match bonus – Register and deposit at least $20 into your betting account and claim an exciting 100% offer of up to $100. This offer is valid for 30 days upon you claiming it and is subject to 20x wagering requirements. Your bets must have at least three selections with odds of 1.50 or higher.
- Free bets – Complete the sign up process now and get a $25 free bet that you can use on Premier League games! Singles are not allowed in this promotion, and the wagering requirements on your winnings stand at 40x.
- Risk-free bets – Did you have a bad start to your betting adventure with us and missed your first bet? Well, worry not, as if you make a wager of at least $50 for your first bet and it loses, then we will refund it in the form of a cashback deal!
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Well, some bonuses are more common than others, so from the three types of offers we mentioned above, we have to say that the deposit match bonus is the one that you will encounter the most at Nigerian bookies.
A match deposit can be a great boost to your early online betting adventure, but the wagering requirements are something that you must take into consideration.
The average playthrough requirements in the industry stand around 20x-25x for the welcome bonus, so anything above that is a no-go!
Note that deposit match bonuses you get later on in your betting journey tend to have much more user-friendly wagering requirements.
As for the odds, anything around three selections with odds of 1.40 or higher is standard in the industry, so always seek an offer that revolves around those numbers.
We can give you all the advice you need when using a welcome bonus, but part of the responsibility falls on your shoulders as well.
By this, we mean that you have to do a bit of research and compare online sports betting welcome bonuses. Not every bonus is ideal for everyone in Nigeria – different punters have different betting habits, wallet sizes, bonus preferences and so on.
Another important thing to consider is your budget limitations. Always remember to gamble within your budget frame. Always set a realistic budget that you can afford for sports betting and never step out of it.
Moreover, as you can see from the examples above, the wagering requirements on the welcome bonuses can be quite high.
Not everyone can meet them in the specified time (usually 30 days), so never bite more than you can swallow. If you don’t think that wagering requirements of 30x are achievable for you in 30 days, then don’t waste your time – there are more than enough other promotional deals that you can utilize!
5 Betting Bonus Tips for Punters
Apart from doing your own research and gambling within your limits, there are five more general tips we can recommend that can help you use the bonus to its maximum:
- Bonuses can be an opportunity to experiment – since you will almost surely get a boost on your bankroll when you make your first deposit, why not experiment a bit and wager on new sports? If you have followed football your whole life, why not change a bit now and wager on some NBA games? Who knows, you might just find a new sports betting passion.
- Always read the Terms and Conditions – we know, the last thing you want when you register at a new bookie is to read long paragraphs of terms and conditions. Well, we are sorry, but you simply have to do that! Terms and conditions are vital if you are to understand the rules of the bonus and avoid any unpleasant surprises.
- Don’t always settle for the offer that seems attractive on the outside – a 300% bonus on your first deposit seems flashy, right? It sure does, but what lies beneath the surface should interest you more. A bonus like this is almost always buried in restrictive wagering requirements, so you might be better off searching for an alternative. Research is often the key to sports betting!
- Don’t always “Go For The Gold” when using a bonus – even though there is nothing wrong with placing a couple of risky wagers, don’t fool yourself into thinking that luck is a guaranteed feature for newbies. We advise you to start smaller with your welcome bonus – small wins can boost your confidence!
- Respect the rules – finally, online bookies in Nigeria have tons of mechanisms in place that will prevent bonus abuse and fraudulent accounts. So, never think that you are smarter than them and try to abuse the bonus in any way. Always stay within the frames of the terms and conditions if you don’t want to see the bonus forfeited or worse – your account suspended.
Note that the tips below don’t mean that you will surely turn profits – they are merely indicators that you can follow to enjoy your experience with the welcome offer more and possibly turn some profits!
Terms and Conditions of Welcome Bonuses
We seem to rave about the wagering requirements and the minimum odds so much that you might think that they are the only aspects of the T&Cs you have to worry about!
Well, we are sorry to disappoint you, but there are tons of other important pieces of information that you can find in the T&Cs of a welcome bonus that can include, but not be limited to:
- Bonus duration – every bonus that you will claim at any sports betting site has a duration time. Bonuses are not valid forever, so you will have a predetermined time in which you will have to claim and use the welcome package.
- Available markets – sometimes, welcome bonuses can be applied to all competitions and sports the bookie has to offer, while some operators may limit you in this regard. Don’t be surprised to see deposit match bonuses that you can use on only the top 5 football leagues in Europe, for example.
- Age – this is a general rule that you can also find in the bonus’ terms and conditions – it specifies the minimum gambling age you have to be to register an account and claim the welcome bonus. The legal gambling age in Nigeria is 18.
- Excluded bet types – we have stumbled across welcome bonuses that don’t allow for specific bets to be made. Examples here would include tote multis and each-way bets.
- Payment methods – this is rather rare, but sometimes, users who have deposited with certain payment methods like Skrill and Neteller won’t be allowed to use the welcome bonus deal.
- Country restrictions – online betting is legal in Nigeria, but there are some international bookies that operate in more than one country. As such, you might find a welcome offer on the site of the bookie that will not be eligible for Nigerian users, so keep that in mind when searching for promo deals.
FAQ
A welcome bonus is a promotional deal newly registered punters in Nigeria get when they sign up on a bookmaker’s website. You need to sign up, verify your account and make a deposit before you can use the welcome package on the site.
You don’t have to search too much as we are the ultimate place for welcome offers in Nigeria. So, feel free to take a look at our list of welcome bonuses, and compare and choose one that matches your preferences and betting habits the most!
Well, there is no universal answer to this question as everyone has a different perspective on what a good welcome bonus is. The most common welcome bonus you will encounter in Nigeria is the match deposit offer, but free bets and risk-free bets are also found.
Unfortunately, no, bookies don’t allow their registered users to claim more than one bonus at once – especially welcome bonuses. There might be a couple of sign up offers that have a different structure, but you will always have to choose one of those.
This is something that every bookie in Nigeria deals with internally, so you will see different timeframes for using welcome bonuses. The average in the industry stands at 30 days – a time in which you have to complete the wagering requirements of the bonus.
Of course, for the bookie to protect itself against big wins, it will always impose a maximum amount that you can bet. For example, deposit match bonuses always have an upper limit on the amount you are allowed to deposit.
Yes, you can, but don’t take too long! As mentioned above, time is ticking from the moment you claim the welcome offer, so be wary of that!
Well, this is something that can vary between operators in Nigeria, but wagering requirements between 15x-20x are a great option for casual bettors!
Pros and Cons Of Welcome Bonuses
As is the case with all aspects of life, not everything is rosy with betting welcome bonuses. As we are objective with our reviewing process, we have to mention a couple of disadvantages you can expect when using a welcome bonus.
Pros
- Can boost your bankroll early on
- You can try out new betting markets and experiment
- You can win much more than if you just wager your own money
Cons
- Can have restrictive wagering requirements
- Limited time to use them
Betting Predictions
It is not just welcome bonuses that we specialize in, our team of experts is here to cover all aspects of your online betting adventure!
We know that all sports can be very unpredictable, but the more informed bets you make, the higher your chances of landing a win! So, why waste precious time on research when you can find exactly what you need here?
We always have predictions in place for each matchday, and we put big efforts into those! Don’t hesitate to visit our site whenever you think of making your next bet and try us out – you might just be surprised at how detailed we are!
Where can Punters Find The Best Bonuses?
You will be happy to know that Nigerian bookies have much more to offer than just welcome bonuses! Your betting adventure is just getting started with the welcome offer, after which tons of other rewarding promotions can await you.
So, where can you find them? Well, here, of course! We wouldn’t be the number one place for Nigerians to find reliable information about sports betting if we didn’t cover all its aspects.
Whichever bonus type you have in mind – just take a look at what we have to say and decide whether you are okay with claiming it!
Final Words
All in all, we can summarize this article by saying that we are huge fans of betting welcome bonuses. They are a good incentive for anyone in Nigeria who seeks to start their betting adventure but doesn’t know where to start.
The online betting market in Nigeria is very saturated, so there are tons of offers and bookies you can choose from.
We know that it might be difficult for you to choose the best ones, but that is where we come in! Hopefully, now that you are armed with this knowledge, you can make a better-informed decision over which welcome bonus is the best one for your betting preferences!
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