Gambling promotions are how operators get you hooked on the excitement. Most will offer you an enticing deposit bonus. Many will let you take back some of your losing wagers and others still will come up with unique promotions in an attempt to differentiate their casino from all other casinos. This has always been true even in the days were only brick-and-mortar casinos existed on the Las Vegas strip. It’s also just as true in the world of Bitcoin gambling.
Being aware of the most common types of gambling promotions, understanding how to take advantage of them, and knowing the terms and conditions that come along with accepting certain kinds of promotions is key to making money at the sportsbook, at the tables and even in the poker room. So it’s time to get a leg up on the competition and figure out how you can benefit from the most common types of promotions in Bitcoin gambling.
Bitcoin Deposit Bonuses
If gambling promotions are meant to hook you in, deposit bonuses are meant to get you started with a bang. After all, a deposit bonus is free money. Bitcoin gambling sites don’t just give you 5% or 10% the way a savings account of the stock market would. We’re talking 50%-100%, on your Bitcoin just for making a first deposit.
Rest assured that the deposit bonuses Bitcoin gambling sites offer are real. Especially if you are dealing with the top dogs like, Bodog, Intertops or BetOnline for example. Each of those sites offers a 100% deposit bonus. Bodog’s matches up to $200, Intertops up to $500 and BetOnline up to $1,000. That said, there’s a saying in life. If something is too good to be true, it probably is. As with many other things in life, there is a catch to these bonuses.
How to Earn Bitcoin Deposit Bonuses
Deposit bonuses are sometimes called rollover deposit bonuses. That’s because you essentially have to play multiple times the amount of your deposit in order to earn the bonus. Bitcoin casinos and sportsbooks can make you play between five times and 25 times your deposit bonus in order to unlock the full value of the bonus. This means if you deposit $100 and you’re entitled to a 100% bonus with a requirement of playing five times your bankroll in order to unlock that bonus, you essentially need to place $500 worth of wagers in order to get the full $100 bonus or 100% you are entitled to. You don’t have to spend $500 all at once on one bet. You can place many small bets, but it’s still something to consider.
Money Back Bitcoin Bonus
Imagine throwing some cryptocurrency into a slot machine or onto a roulette table, losing your bet and getting another chance. Many bitcoin gambling sites offer this kind of promotion. Sites will usually offer this when they have a new game to play and want to drive the action in that direction, or during slow days of the week like a Monday or Tuesday where they want more players to sign up and make a wager.
How to Earn Money Back Bonuses
As noted, money back bonuses are usually offered on specific days of the week and at specific tables. Be mindful of the fact that these promotions usually have minimum and maximum bet requirements you need to hit in order to get money back, and obviously on the upside they cap the money you can get back to a certain amount. Nobody wants to go broke giving you your money back.
Reduced Juice Bonuses
The term juice is used in sports betting to describe the amount the book makes on a bet with even odds. Let’s say you’re betting on NBA basketball. The Toronto Raptors are facing off against the Boston Celtics in the bubble and the odds of either team winning are perfectly even. Most books will pay out only nine dollars on a $10 bet, meaning you don’t actually get even odds. The extra one dollar in value that you are losing is the juice that you pay to the book. This is how sportsbooks earn a profit in the long run. They are taking a cut.
A reduced juice bonus is when the book offers to take a lesser cut. These bonuses are typically offered to start a season or to reward loyal players and give them a break once in a while. Again, sportsbooks will also offer this on nights when fewer bets are placed to try to drive the action. There is usually a limit to how much you can bet on games with reduced juice.
As you explore ways to take advantage of bonuses on your bitcoin gambling site of choice, remember that there are many other kinds of bonuses and they are all geared towards rewarding you for your loyalty and enticing you to come back again. Be mindful of any limitations and always be responsible with your gambling.