Overview Of Bookmakers Online Betting Bonuses Available In Nigeria

Betting bonuses and promotions are a mainstay of the majority of sportsbooks as they are proven to entice new customers and keep existing ones loyal.  Online bookmakers in Nigeria are no different and have an array of offerings for their potential customers. A welcome bonus tends to be lucrative as the bookies are competing for you the punter and may only get one chance to entice you to join. This review aims to give you an insight as to what is on offer and possibly the best bonus for you.

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Top 5 Types of Sports Betting Bonuses

Everybody likes a bonus and bettors in Nigeria are no different. There are many betting bonuses and promotions available at bookmaker sites, so we will just take you through the top 5 in this review.

betting bonuses

Welcome and Sign Up Betting Bonuses

Welcome/sign up betting bonuses are the most common offers available at sportsbooks. However, some operators may choose to focus on their odds more than promotions. Thus, they may not have any sign-up offers. The type of bonus included varies and can be any one or a combination of the offers described below. In general terms, it is there to attract a new customer, so it will probably be the best offer at the operator, and will only be able to be used once.

No Deposit Betting Bonuses

This is probably the least common offer at an online bookie, but very popular amongst its customers. As no deposit is needed to unlock it, so do you receive something for nothing? Actually, no - the downside is that it generally has the most stringent T&Cs of all offers. A no-deposit bonus may take the form of bet credits or a free bet. For example on joining a bookie, it may give you ₦5 to stake on your football predictions.

Free and Risk-Free Bets

Free bets or risk-free bets can take two forms. One, maybe as a credit from the bookie for you to place a bet with. Two, the offer as a risk-free bet is that if your punt loses then your initial stake is returned to you. Both options are an incentive to continue betting but will not be very lucrative, if at all.

Enhanced Odds Offers

Enhanced odds offers or boosts are when a bookie highers the betting odds, normally on a specific game or event. Thereby giving you a chance to increase your winnings. However, this type of offer excludes live betting in most cases.

Football ACCA Boost

Basically, a Football ACCA Boost is when a sportsbook increases your ACCA winnings by a set percentage as per the promotion. The boosted winnings will more than likely be in the form of a free bet or credit and not withdrawable cash.

Cashback Bonus

A cashback bonus is a bookmaker offer to offset your net losses from bets with them. The bonus amount will be set as a percentage which varies between bookmakers. And can be between 5 and 100% depending on the type of offer. Also, the Cashback bonus may cover a single bet or losses over a set period. For instance, a cashback bonus as a welcome offer is likely to be on a single bet and possibly a 100% return. Whereas a promotion for the Cheltenham Festival may cover losses for the period of the festival i.e. 5 days and be a 5% return. Furthermore, the bonus may be as withdrawable cash, bet credit or free bets.

more betting bonuses

Terms and Conditions of Betting Bonuses

Terms and conditions are an online bookmakers tool to ensure that they don’t lose too much. As they are the restrictions of what, how and the amount that a punter can take from them.

Minimum Deposit To Claim the Bonus

To claim all betting bonuses, less a no-deposit bonus, a customer will need to deposit or stake a minimum amount of his money to claim or unlock the promo. This amount varies per operator but the rule of thumb is that the more lucrative a promotion, the more likely a bigger deposit is needed. So expect anything from ₦5 to ₦500.

Maximum Winnings Allowed

Bonuses are not a bottomless pit of cash, so to that end, sportsbooks will put a limit on how much money punters can win using a promotion. As you would expect the maximum amount varies per an operator but don’t expect the limits to be too high.

Wagering Requirements

These are the most common reason that winnings from a promo are not released, due to customers failing to meet them. It is important to note that wagering requirements can cover both the deposit and bonus amount or just one of them.

  • (bonus amount) ₦50 + Deposit amount ₦50 = ₦100 x Wagering requirement x5 = ₦500

Taking the above calculation into account you must wager ₦500 before you can withdraw any winning.

Odds Restrictions

Of course, a Sportsbook does not want to give money away or make it easy for you to win, so they will have odds restrictions in a promotion’s T&Cs. Remembering the higher the odds the less chance of you winning your bet, common restrictions will be 1.2 or 1.5. So any bets placed at odds lower than that will not count towards the wagering requirements.

Time-Limited Betting Bonuses

A sportsbook does not want punters spending too much time on promotions, as it is not very profitable for them. To this end, there will be a time limit to meet the wagering requirements and other conditions of the offers. This can be 1, 7 or 30 days, dependant on the bookie and the bonus type.

betting bonuses summary

Should You Take Advantage Of Betting Bonuses in Nigeria?

Well, yes take any advantage that you can get when betting on sports, which includes betting bonuses and promotions. However, the devil is in the detail so take time to study the terms and conditions to ensure that the promotion is worthwhile for you. For instance, can you meet the wagering requirements and the time limit? The bonus may be high but if the wagering requirements are going to completely drain your bankroll then it is probably not worth it.

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