What Are Bonus Offers?
Almost every bookmaker offers incentives, such as a horse betting signup bonus, in the hopes of enticing new customers into signing up; and then the bookmaker convinces the customer to keep coming back by offering other promotions, sometimes horse betting offers in the form of a free bet, raised odds, or guaranteed money back if your horse fails to finish the race.
You can find an example of an ongoing horse betting offer for all customers at BetVictor: if you place a bet on an early price or board price on any horse, BetVictor will honor the starting price if it’s greater. Not only that, but if your horse doesn’t run for any reason, they’ll return your stake with an automatic real cash refund thanks to their ‘Run For Your Money’ offer.
There are in fact a large number of bonuses that sportsbooks can offer. Here is a list of most:
- First deposit match bonus
- Free bets
- Matched bet bonus
- Referral bonus
- Reload bonus
- Cashback incentive
- Seasonal promotion bonus
- Free cash
Canadian Bonus Offers Explained
To help you fully understand the different bonuses that you can be offered by online sportsbooks, as well as how best to use them in terms of horse racing, we will explore deeper some of the offers listed above.
First Deposit Match Bonus
Put simply, for every dollar you deposit into your account the first time after signing up, the operator will give a stated percentage (usually between 50% to 100%) of your deposit back to you in the form of a bonus. For example, if new customers from Canada, Australia or New Zealand make a first deposit of up to $25 at Betsson Sports, you will receive a match bonus of $25, giving you $50 to bet with. This is basically free money to make a bet (or bets) and is therefore a very enticing offer for anyone looking to sign up to an online sportsbook or casino.
However, although these offers look good on the surface, there are usually a lot of terms and conditions, and therefore a lot of hoops to jump through. Let’s look at another example: LeoVegas is currently offering new sportsbook customers in Canada a sign up offer worth up to $300. We’ll break down this offer for you:
- If your first deposit is between $10 and $49, you must place a total of $50 of bets at minimum odds of 1.8 to receive $10 in withdrawable cash funds.
- For a first deposit between $50 and $99, you must place $250 of bets at minimum odds of 1.8 to receive $50 in cash funds.
- First deposit between $100 and $199, place $500 of bets at minimum odds of 1.8 to receive $100.
- For a first deposit between $200 and $299, you must place $1,000 of bets at minimum odds of 1.8 to receive $200 in cash funds.
- First deposit is between $200 and $299:
- And finally, if your first deposit is $300 or more, you must place a total of $1,500 of bets at minimum odds of 1.8 to receive $300 in withdrawable cash funds.
So even though on the surface this looks like an amazing deal, it will actually cost a lot of your own money to take full advantage of it.
Free bets are obviously useful as they are free chances to win real money. An example of this can be seen at Mr Green, which is offering all new Canadian customers who sign up to the sportsbook two free $25 bets after an initial wager of $50. After registering an account, you just need to place a bet or multiple bets totalling $50 on any markets, such as horse racing, with odds of at least 1.8 within 7 days. These are just some of the requirements that you must fulfil in order to make the most of this particular bonus, so make sure you always check the terms and conditions carefully.
A cashback incentive is when a bettor gets a specific percentage for every pound they bet, win or lose, deposited into their bankroll. These bonuses usually focus on specific sports like horse racing, so it’s always worth keeping an eye out for bookmakers who offer this.
Although we currently can’t find any horse betting offers like this available in Canada, Pinnacle offers a similar promotion for their casino players, offering an exclusive 0.3% cashback bonus on every play of certain games. This is great for regular customers and high rollers, as you get cash back on every bet you make, no matter if they win or lose, indefinitely. Although it may not seem like much, a little extra cash can always come in handy.
Free Cash Bonus
A free cash bonus is obviously the best that you can hope for when it comes to possible bonuses – you are literally handed free money to use however you want! This is a common bonus as you can see from our Rizk bonus review, where spinning their Wheel of Rizk can get you great prizes, including $25 in free cash. And best of all, this has no wagering requirements, meaning you can withdraw it straight away if you want to.
Picking The Best Available Bonus Offers: 3 Things To Consider
As the heading of this section suggests, there are three things you will need to consider when deciding on the best horse racing betting offers, or any horse betting signup bonus that may be available, to suit your needs. These three things are:
- Wagering requirements
- Odds restrictions
- Time limits
You also need to keep in mind that deposits made through some payment methods (usually e-wallets or cryptocurrencies) are not eligible for certain horse betting offers, so here’s another reminder to always check a promotion’s terms and conditions before making a deposit.
Here’s a hypothetical: through a promotion you are given a $20 horse betting signup bonus when you register on a new online betting website. To a new customer, this can at first seem like you are simply given $20 for free; but you check the promotion’s fine print and discover that the bonus has a 10x wagering requirement. This means that you must spend $200 on eligible bets before being able to withdraw any winnings made on your $20 horse betting signup bonus.
When we say ‘eligible bets’, this is where odds restrictions come in. You see, bookmakers don’t just want you to place $200 worth of bets with short odds to guarantee your returns; so most horse betting offers have the added requirement that every dollar of the $200 must be spent on bets with specific minimum odds.
The final thing to consider is time limits. Usually you are given a certain amount of time (7 days, 14 days, 30 days, etc.) to fulfill all of the requirements in the fine print, otherwise your horse betting signup bonus and all the subsequent winnings will be forfeited. This makes most promotions a race against time; be careful not to rush any financial decisions, as this can adversely affect your bankroll.
There are also a number of other terms and conditions that can be attached to a promotion, and so we’ll briefly touch on them now, so that you are better able to take full advantage of whichever horse betting signup bonus or other horse racing betting offers that are right for you. Here is a detailed list of possible additional requirements you may come across:
- You may not be able to withdraw any funds for a certain amount of time after claiming a horse betting signup bonus.
- You may only use a bonus on sports, horse racing and casino. It is not eligible for use in poker.
- You may only have one active bonus in your account at a time. If you claim a new one before you use or cancel the current one, the current bonus is cancelled automatically.
- There may be geographical restrictions.
- You may only be able to use the bonus on specified areas of the sportsbook.
How To Claim Your Preferred Bonus Offers
It is usually extremely easy to claim horse racing betting offers on any online betting site, whether it’s a first deposit match bonus, a free bet, a seasonal promotion, or any other kind of bonus we mentioned above. All of these bonuses are credited into your account automatically once you have fulfilled all of the requirements in the fine print. However, there are certain occasions when you need to do a little more to receive a bonus, such as opting in to a promotion, or using a promo code. Don’t forget to always check the terms and conditions first!
How To Withdraw Any Bonus Winnings
Once you have fulfilled all of the requirements in the terms and conditions, you should be able to withdraw the money you made by utilising the horse racing betting offers without any problems. The particular site you’re using will tell you how long your chosen withdrawal method takes; if you have any problems, contact the operator’s customer support.
As we mentioned above, if you do not fulfill all of the requirements in the given time limit, all of the money from the horse betting offers will be removed from your account, and all of the money, time and effort you spent will have been in vain.
FAQs Regarding Bonus Offers
In this section we will go over some of the frequently asked questions, particularly from people new to betting via online gambling websites, in regards to the possible bonus offers out there.
No. Promo codes are designed to be used the first time you register on a website only. If you already have an account, you are not eligible for the offer advertised. However, you can take advantage of the welcome offers on as many sites as you’d like.
Can I find bonus offers on every online betting site?
No. There are a small number of websites out there that offer few if any bonus offers to their customers. Some operators prefer offering their customers a lower vigorish (vig) on bets. This means, essentially, that the percentage you pay the bookmaker to play is smaller than at other sites. This is often reflected in the sportsbook’s odds: rather than using part of their budget in promotions and bonus offers, the betting odds they offer are markedly higher compared to their competitors. Pinnacle Sports, for example, very rarely offer bonus offers of any kind, either for new or pre-existing customers. This is because their business model focuses on bringing in professional bettors and high rollers; therefore Pinnacle Sports is renowned for having some of the best odds on the market.
Can I get the same bonus offers using the operator’s mobile app?
Yes. Although you may sometimes find a limit to the number of games and payment options available to you on an operator’s mobile app, the bonus offers are never restricted by which device you are using. In fact, you can sometimes find bonus offers that are exclusive to the operator’s mobile app, so keep a lookout! Often the mobile apps these days rival their desktop counterparts, with the same practical and efficient look and feel, but with the obvious added advantage of being able to access your sportsbook and casino from anywhere with a phone signal.
Can I withdraw any funds before fulfilling the requirements of a bonus offer?
Yes. If you try to withdraw the funds in your account before fulfilling all of the requirements of a bonus offer, your funds will be locked in accordance with the promotion’s terms and conditions. But that doesn’t mean all of your money is lost. You just need to contact the operator’s customer support. You should be allowed to withdraw any amount that is greater than what remains of your wagering requirements. For example, if you must spend another $65 on your wagering requirements, and you have $100 in your account, you will be able to withdraw $35. Although not financially beneficial, this is a quick way out if you need it. Most online betting sites have customer support that can be contacted via phone, live chat or email. Live chat is the most immediate option, whereas a phone call has that slightly more personal touch. Some sites even offer support via their social media channels.
Where can I use my chosen bonus offers?
This all depends on exactly which branch of the online betting site the promotion is advertised for. If your bonus offer is for the operator’s sportsbook, it must be used on sports bets like horse racing; if your bonus offer comes from the operator’s casino branch, it must be used on casino games like slots. Online betting sites also usually have a dedicated poker branch, often with its own promotions and offers – so the same applies there as well; placing bets on the other branches will at best not be eligible for the bonus, but at worst could forfeit the bonus entirely. It’s also worth keeping in mind that the terms and conditions for each of these three branches can be very different.
What should I do if I haven’t received my bonus offer after making a deposit?
The best thing to do is to contact the operator’s customer support. They are usually well-trained professionals with a positive and helpful attitude, who aren’t looking to scam you out of your money, but instead just want you to have the best experience possible. If they find that the fault is with the operator, they will no doubt correct it straight away. Sometimes, if you are lucky enough, you may even be offered a larger bonus as a gesture of good faith.
Are the bigger bonus offers always better than the smaller bonus offers?
This entirely depends upon the terms and conditions of the individual bet, and therefore can only be judged on a case-by-case basis. Earlier we discussed the three things that you need to consider when deciding which bonus offers to go for, and this is where those three criteria apply: check how long you have to fulfill all of the requirements; check what the odds restrictions are; and most importantly check the wagering requirements of the promotion – the higher they are, the more of your own money you have to invest to get anything out of the offer. Can you spend that much within the time limit? You may or may not find that the smaller bonus offers are the only ones worth your while.
What can I do if my bonus offer is revoked?
If your bonus offer is revoked, there isn’t really much you can do. It’s obviously worth contacting customer support; even if there is nothing they can do to return your bonus offer, they will at least give you an explanation as to why it was revoked. And there’s always the small hope that it was a mistake!
There are a number of reasons why your bonus offer may have been revoked. The most common option is that you simply didn’t fulfill the requirements of the bonus, either by reaching the time limit, betting on restricted odds, etc. Another possibility is that the operator believes you were using your bonus in a way that goes against their policies – such as in an act of fraud, or arbitrage betting. These offences may also cause your account to be blocked. The same will happen if you are discovered to have created multiple accounts.
If you feel that there has been some kind of misunderstanding, and your bonus offer was wrongfully revoked, by all means plead your case to a customer support representative. As we’ve said, their priority is your loyalty.
At present there are a huge number of horse racing betting offers that are available to Canadian residents. We have shown you some of the best bonuses on the market, and explained in detail what they are and how best to choose between them and use them to your advantage. The decision of which horse betting offers to choose is of course yours and yours alone, but if there is one thing you should take away from this it is to always check the fine print! Not a Canadian resident? Make sure to visit our guide to the best GB betting bonuses!