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How Valuable Are Betting Bonuses for Nigerian Players?

The sports betting industry is thriving globally and more betting companies are springing up in all corners of the world.



The sports betting industry is thriving globally and more betting companies are springing up in all corners of the world.

This is the same for Nigeria where there has been geometric growth in sports betting with more Bookmakers obtaining licenses to set up online betting sites.


To get the edge in such an ultra competitive environment, most betting sites and casino sites  offer new customers some sort of a bonus, usually a welcome bonus or first deposit bonus. After all, no one turns down an opportunity for freebies.


While there are a lot of various reasons to pitch a tent with a betting site, betting bonuses are definitely high up in the list of factors to consider when choosing a betting site.


The prospect of getting ‘free money’ is very enticing and who would not want to get some? 


There are loads of betting bonuses out there for prospective new players to claim, but are these bonuses really valuable to players?


When a player registers on a betting site, more often than not, there is usually a reward for signing up. 


But claiming this ‘reward’ is not straightforward. There are some conditions attached to the offer which makes it difficult for players to get actual value from the bonus offered.


Although not all the bonuses on offer in Nigeria are tough to claim or withdraw. A good example is the Bet9ja bonus which has fair conditions and can be withdrawn with minimal effort.


Why are Bettors drawn to bonuses?

As stated earlier, getting free money to place bets is very appealing and most people will accept a bonus offer especially, given the fact that they are betting with no risk.


Players will not worry about losing their own money and the bonus funds will provide a leeway or freedom bet freely.


There is even a bigger incentive! You can withdraw the cash (If it is a cash bonus) when you meet the conditions. But as the age old saying goes, ‘it is easier said than done’

So why is meeting the bonus conditions difficult? Let’s take a look at some of these conditions and how easy or difficult they are to fulfil.


Wagering Requirements 

These conditions commonly known as wagering requirements or wagering conditions are to be met in order to have access to the bonus proper.


Players automatically agree to wagering conditions when they agree to receive a bonus.


This means the number of times the bonus has to be rolled over or wagered before the bonus can be withdrawn. For example, 7x roll over means that the bettor is expected to place a bet with the bonus and the proceeds 7 times before it can be withdrawn.


Most betting sites require that the bonus must  be rolled over multiple times. But with each roll over, the chances of winning the bet decreases before completion.


Given the amount of times a bonus should be rolled over on betting sites today, it is really difficult to meet the conditions.


Minimum Odds

Usually, when a bonus is given to new customers, they have to wager the bonus amount on a minimum odd.


The minimum odds mean that you have to place a bet with the bonus amount on odds set by the bookmaker.


Sometimes, it can be higher and riskier than the listed odds but with an incentive of higher winnings.


Just like the wagering requirements, they are different from one bookie to another.


Players are not at liberty to choose the odds they are most comfortable with and that makes successful betting harder to come by.



Validity Period

The validity period of a betting bonus refers to the time frame with which bonuses are valid and when all the conditions are to be met.


Many betting sites in Nigeria offer bonuses with a 30 days validity period, but there are some with even shorter time.


Even for the most experienced punter, meeting these stringent conditions within a 30 day period can be daunting, let alone newbies who the bonuses are specifically designed for.


Conclusion 

The idea of bonuses is very exciting and rewarding on face value, but a better understanding of the concept of betting bonuses for new players will show that it is not as simple as it seems.


To successfully withdraw a cash bonus, you have to meet all the requirements attached to the bonus offer.


Given the various conditions that need to be fulfilled, which are highly unlikely to be fulfilled, it is safe to say that betting bonuses are not without risks or their shortcomings.

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