The need for welcome bonuses
Whereas physical gambling establishments have - or should have - a natural footfall of customers that can enter through the front door, online betting sites must find a way to entice first-time customers to enter the site and sign-up.
Welcome bonuses and sign-up offers are one such way betting sites tempt new players.
It works in exactly the same way as, for instance, a free Netflix trial whereby a customer can test a product for a certain period of time, free of charge. In building trust and promoting transparency early on, companies are able to entice players into becoming a fully-fledged customer, i.e. one that pays for the service or in the case of a betting site, one that deposits and bets.
It’s a method that has worked for many years across online gambling sites worldwide. And that’s why when you start to look for reviews of NJ betting sites, you will find each comes with a promo code or welcome bonus amount before anything else. It’s the feature of the offering or site that is presented first and often ‘in the face’ of bettors.
For the vast majority of punters, choosing a betting site is based on the type of welcome bonus offered (although we don’t agree with using this as a criterion factor, we accept it to be true of many bettors). With that in mind, it’s important for you to know the difference between types of bonus offers New Jersey has to offer.
NJ Welcome Bonuses Explained
Below we highlight the most common sign-up bonuses in New Jersey.
Free bet
Simply sign-up, enter the promo code (if needed), and receive free cash into your new account. It sounds too good to be true but it really is as straightforward as it sounds. The standard amount ranges between $10 and $30. And if you’re scratching your head at how sportsbooks can afford it, the truth is they can’t really. But given something away for free is a sure-fire tactic of wooing a potential new customer especially in a market as competitive as NJ sports betting. Anyhow, all free bets come with strings attached to make sure the amount is hard to withdraw as real cash. A wagering requirement for example means the bonus must be played through a certain number of times before it can be cashed. We recommend Free Bet offers with a 1x wagering requirement.
Deposit bonus
Make a first-time deposit and the sportsbook will match the amount up to a certain percentage. For example, a 100% deposit bonus up to $500. This means if you deposit $500, the operator will match with that $500. Usually, the offer will offer 100% of the amount back as a bonus but it can be lower. This is the most common kind of offer sportsbooks roll out and a simple concept. The type of bonus is also often presented as a ‘matched deposit’ or ‘first-time deposit offer’.
Risk-free bet
With this type of bonus, you must make a first deposit and place a wager. If the bet proves unsuccessful, your stake is refunded as a free bet. The bet gives first-time bettors a second chance and removes the risk element, hence the name. Of course, if you win, the bet doesn’t apply.
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