Changes To Sports Betting Bonus Programs

As you probably know, one rather popular incentive offered by both online gambling sites as well as online sports betting portals is that of the signup bonus. Understandably this sort of incentive is specifically designed to draw in new customers. While it is certainly true that you can see quite a number of online gambling sites touting the latest technology, the best customer service and that sort of thing, the indisputable reality is that the signup bonus is still the most popular method used to draw in new sports betting fans.

Yet that being said, you must have noticed that the sports betting signup bonuses don’t seem to have the same look and feels as before. That is true. In fact, the fact of the matter is that the signup bonuses you will spot in the various online sports betting portals are not as generous as they were in the not so distant past.

It turns out that there is a very good reason for this. You see, back in the late 90’s into the early 2000s, seeing 200% signup bonus plans was quite common. Back then, the wagering requirements associated with those signup bonuses were comparatively lower. Remember that the term wagering requirements refers to the actual dollar amounts that the sports bettor would have to wager to earn that signup bonus.

Understandably, this wagering requirement is only ever put in place so that the sports book does not end up losing money on the new customer by simply handing over a pile of cash. Yet even so, the sportsbooks quickly realized that a rather large number of those that were claiming the signup bonus were actually doing so with much smaller deposit amounts than anticipated.

For example, online sports bettors would deposit something like $50 or whatever the minimum amount to qualify for the signup bonus. Then after wagering a few hundred dollars here and there, these same bettors would almost immediately cash out after claiming the signup bonus cash. Naturally that is not at all what the sportsbooks had in mind.

As a result the signup bonus plans in place today are designed to thwart this sort of activity. Nowadays, the fact of the matter is that the type of bonus chasing discussed above is almost impossible. Take for example, the situation at the top ranked sports betting portal of TopBet. Note that TopBet offers a 50% signup bonus which maxes out at $250. But get this, to earn that $250 bonus, you will need to deposit $500 and wager $2,500. See the difference?

Bottom line: the signup bonus plans from years back are long gone, most likely to never return. All the same, since the majority of sports betting fans are not so much about bonus chasing but are looking for the best sports betting portal, this is a good thing for both sides of the wager.

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