Sportsbook Deposit Bonuses

Definition of Deposit Bonus

Sportsbook deposit bonuses are bonuses players can claim upon making a deposit. It’s one of the most common bonuses used for a welcome offer, and these deposit bonuses are meant only for first deposits. So, players who have already made an initial deposit won’t be able to claim the bonus. Still, Nigerian sportsbooks often offer reload bonuses, which are deposit bonuses for players that have already made an initial deposit.

Often in a deposit bonus a sportsbook in Nigeria will match the player’s initial bet up to a certain amount. If the deposit bonus is for a risk-free bet the bookmaker will refund your first wager up to a certain amount if it is a losing one.

Deposit Bonus on Sportsbook Sites

All betting sites’ bonuses come with terms and conditions, and the same goes for deposit bonuses on sportsbook sites. Often, sportsbook sites’ deposit bonuses come in the form of cashback or risk-free bets, where they require you to play first before getting the reward.

You must check the wagering requirements before choosing one, as they must be fulfilled before you can withdraw the money from your sportsbook account. When it comes to risk-free bets there may be minimum odds you will have to wager them on.

You’ll also find many deposit match bonuses up to a certain percentage. Often, a welcome bonus on a player’s initial deposit will have a 100% match and sometimes even more. For a reload deposit bonus the percentage of the match is usually 25% to 75%.

The wagering requirement is key for these types of bonuses. For example, if you find a welcome deposit bonus of 100% up to  ₦100,000 with a wagering requirement of 20x it means you will have to wager ₦2 million ( ₦100,000 x 20) on the site before the bonus funds are released to your account for withdrawal.

There is also a time period that you must fulfil the wagering requirement. One more thing to note, is that there may be a minimum deposit to get the bonus that is higher than the typical sportsbook minimum deposit.

Reasons a Deposit Bonus is Given

Betting sites are a business and as such they look to make a profit while still satisfying their customers. A deposit bonus is one of the best ways for both parties to profit.

Deposit bonuses require players to first fund their accounts. This helps reassure the betting site that the customer won’t leave as soon as they use the bonus. It’s also more likely for the customer to make another deposit when trying to fulfil the wagering requirements so they can withdraw their winnings.

Other than that, sportsbooks often reward customers with free bets and risk-free bets.  New players will get to use the free bets to explore the sportsbook, and can play without worry when using risk-free bets, as it’ll refund a percentage of their losses.

With deposit bonuses, there’s an increased chance the Nigerian sportsbook can convert new players into regular customers. New players will have more time to know the site better, and the site can showcase its best qualities forward as the customers explore using their freebies.

Deposit Bonus in Nigeria

Among all types of sportsbook bonuses, deposit bonuses, no-deposit bonuses, and Acca bonuses are the most popular in Nigeria. While sportsbook deposit bonuses require you to fund your account before claiming the bonus, no-deposit bonuses allow you to claim the rewards without having to make a deposit.

As soon as you register an account, you can immediately claim the reward and use it to bet. However, no-deposit bonuses will also come with higher wagering requirements and they are not often offered.

No-deposit bonuses are hassle-free, but frequently, they are much smaller than deposit bonuses. Another popular bonus in Nigeria is Acca bonuses or accumulator bonuses. This bonus includes three or more bet selections. When you make several selections and all your picks win, an acca bonus will accumulate the odds and make your winning bigger.

But among these three popular choices, a deposit bonus is still the most popular. We can easily find top Nigerian betting sites offering a competitive deposit bonus.

How to Redeem a Deposit Bonus

Now that you know what is a deposit bonus, it’s time to learn how to claim it. We’ll guide you thoroughly, from finding the right bookmaker to getting the best deposit bonus.

Find a Trustworthy Bookmaker

You’ll find many of great bookmakers in Nigeria, which makes it hard to find the best one out of them all. Here’s what you can do to find a trustworthy Nigerian bookmaker:

1. Visit our site and click on the menu button on the top right corner of the page
2. Click Betting Sites
3. Click the Top 5 Betting Sites
4. Pick one out of all the trustworthy bookmaker options we’ve compiled

Read and Compare The Bonus Terms and Conditions

Even if you’ve found the most trustworthy Nigerian bookmaker, they might offer different bonuses. Now that we’ve helped you thin out the options, it’s time for you to do your research to find your favourite bonus.

1. Visit the betting sites you want to compare
2. Find the Promotions tab or click on their bonus banners to read more about it
3. Click the bonus terms and conditions and make sure you know the wagering requirements

Read Other Player’s Reviews

After you find the best choice for you, it’s a good idea to check what other players think about the betting site. These players can tell you more about their experience claiming the site’s deposit bonus and if it’s beneficial for them.

1. Look up your chosen site name online
2. Find other players’ reviews about the site’s deposit bonus and scroll through to read their experience
3. Compare the pros and cons before deciding the best one

Reasons to Redeem a Deposit Bonus

A deposit bonus is not the only attractive bonus out there. So why should you take it and not other bonuses?

It Offers The Best Reward

Betting sites don’t want to lose too much, but they must also give you a reason to stay. The sportsbooks need a way to gain new players while keeping their regular customers satisfied. This is why almost all betting sites offer a deposit bonus. Thus, it’s very competitive, and these sportsbooks try to give players the most beneficial deposit bonus to their players.

Help New Players Explore

Deposit bonuses are mostly a betting site’s welcome bonus. Using their deposit bonus, new players will have enough funds to explore the site and enjoy the features. Compared to other bonuses, a deposit bonus is the only one with enough reward for new players to play around.

Easy to Find

Almost all sportsbooks offer a deposit bonus as their welcome offer. Besides being a welcome bonus, deposit bonuses are something you’ll find more than once in the form of a reload bonus.

Do We Recommend This Bonus?

When it comes to selecting a bonus that offers convenience and value, we highly recommend the deposit bonus. It’s easy to find and claim, and it’s rewarding enough for us to enjoy the reward without having to risk too much to fulfil the wagering requirements. 

However, before taking advantage of this bonus, it’s crucial to carefully review the bonus wagering requirements and the minimum deposit. It doesn’t matter how good the reward is. When we skip essential terms and conditions, there’s a chance you will not be able to fulfil the wagering requirements whether it be money wagered or the time period.