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A sign-up bonus is a term for a new customer offer, as it represents a bookmaker’s opening offer to entice a punter to sign up to their services with a bonus.
As the sportsbook sector is a competitive market, each bookmaker will have a special promotional offer that it will give to customers who sign up to bet with them.
However, note that there will be certain wagering requirements built into the terms and conditions of any sign-up bonus, so ensure you read them first.
An example of a sign-up bonus would be a bookmaker offering a free bet of £30 when you place your first bet of £10.
The offer is essentially deposit a minimum of £10 and bet that sum on a single bet and the bookmaker will offer you £30 credit to bet with in future.
However, there will be specific terms and conditions before you can withdraw that money as pure profit.
You will have to gamble it first with set minimum odds and possibly a set play-through rate, meaning you have to win a set number of bets with that credit before it enters your account as your own money.
There are over 550 official online sportsbooks that can be played up in the UK, making for heavyweight competition.
It is because of this number that bookmakers are having to become more and more creative with their sign up offers.