How betting apps compete in a competitive business

The online gambling sector is more popular today than it has ever been in the past. Millions of wagers are placed on the top sporting events, including the Super Bowl, Grand Slam tennis, golf Majors and English Premier League soccer. 

A recent relaxation of the laws regarding online betting in the US and Canada has led to the number of bets placed daily skyrocketing. What’s more, this trend is showing no signs of slowing down, with new bettors looking for the most generous bookies offering the best sportsbooks bonuses.

Competing in chaos

This sudden increase in demand in an already competitive industry has caused chaos. The leading names from the era of high street and land-based casino betting are forced to compete with start-up betting apps. All bookmakers want their slice of what is a lucrative pie, and it’s all becoming a bit crowded. It’s a difficult time to run a successful sports betting company but a fantastic time to be a bettor as you are spoiled for choice. You are in complete control of the bookie you join and can afford to sit back and let the top names fight for your custom.

What makes a good bookie a great bookie, and how do the marketing teams at these apps convince you to join them while ignoring the competition? There are a few different strategies involved, but relying solely on name and reputation won’t cut it any longer. Modern bettors lack loyalty, and that’s perfectly understandable given the circumstances. You want the best treatment every time you place a bet, or you can simply jump ship to a rival firm that would be more than happy to bend to your demands.

What type of bonuses are available today, and how do you get your share? We have researched the industry, comparing the promos and offers before picking our favourite deals. Below you’ll find the different types of betting bonuses that are available to new customers who open an account with a betting app.

Free bets

The best of all the promotions and this is the one offered to new customers as part of the welcome bonus. There are a few different versions of the free bet offer, but the most common is the deposit matched bet. This is a promo that gives new players who register for an account at a bookie and place their first gamble a free bet. In many cases, your free bet will be equal in value to your first deposit. For example, if you sign up and bet $100 you will enjoy a $100 free bet.

Risk-free bets

This is similar to the free bet but with a slight difference. You are required to register an account, make your first deposit using a debit card or e-wallet then place a bet. If your first wager on the account wins, all is good. You land the profits due to you through that wager. But if your first bet loses, the bookie will refund your stakes, either as free bet tokens or in cash. This creates a no-lose situation which encourages bettors to aim higher and go for a bet with better odds than they may target if they didn’t have the security of the cashback

Profit boosts

This deal is more suited to parlay bettors. Place a winning bet, and the marketing team will work with the traders to boost your profits. The more selections you have in your parlay, the higher the boost will be. This deal is often available to both new and existing customers and rewards winning bettors.

Extra places

A promo that is ideal when betting on an event with a large number of runners, such as horse racing, motor racing or golf majors. You may be inclined to back a selection at big odds with the cover of each way. If most bookies are offering place terms of ¼ the odds 1-2-3-4, one sportsbook may ramp that up to five or six places, increasing your chances of making a profit.

Free spins

Most sportsbooks now have a casino betting tab, and they encourage bettors to transfer between the two platforms by offering football gamblers free spins on casino games. In most cases, the slots game you can use the free spins on is already decided, and this will be a game of the month or a slots game the bookie are eager to promote.