With the rise of online gambling, more people are drawn to the idea of receiving free money. Not so fast, amigos! It can feel like free money with all the welcome bonus ads thrown your way. All you have to do is sign up, grab that sweet bonus, and start betting, right? It’s not that simple. Many new bettors lose their minds trying to understand the fine print and betting requirements. Some might place bets that don’t count toward the bonus at all. The good news is that mistakes are avoidable if you come prepared. So, let’s go over the five most common pitfalls and arm you with knowledge on how to save your money and maximize your winnings.
Sports Betting Bonuses
You can think of sports welcome bonuses as a warm handshake from a betting site. They invite you in with extra cash or free bets. The deal is quite simple—sign up, make your first deposit, and the sportsbook rewards you. But, of course, there’s always a catch—usually in the form of wagering requirements. That means you’ll need to place a few bets before withdrawing any winnings. For example, if you get a €50 bonus with a 5x wagering requirement, you’ll need to place €250 worth of bets before cashing out. Once you’ve claimed your bonus, you can start betting on all kinds of sports events—football, tennis, basketball, horse racing, and more. Want to back your favorite team in the Premier League? Or maybe take a risk on an underdog in the Champions League? Your bonus can give you extra chances to place bets without using as much of your own money.
Not Reading Terms and Conditions
Be careful with your bets or you’ll get bamboozled by the casino! For newly registered players, this might come as a surprise, but not all your bets will count towards your welcome bonus. Seasoned players already know this, but casinos have always found a way of coming out on top. Whether it’s setting minimum bets or applying sneaky wagering restrictions, the casino is pulling all the levers to make sure you will trip up and lose your deposit. Sounds unfair, right? But that’s the reality, so be sure to research all the terms and conditions before signing up for that “easy bonus”. Don’t treat your winnings like Monopoly money. You want to exit with a win, not lose it all to a small greedy “banker”.
Not Understanding Wagering Requirements
Ignoring wagering restrictions is one of the most common mistakes made by novice players. A €50 bonus from a sportsbook does not guarantee that you can take it out right away. The wagering requirement, which is the number of times you must wager the bonus (or occasionally the deposit and bonus) before you can cash out. For example, if you get a €50 bonus with a 10x wagering requirement, you’ll need to place €500 worth of bets before any winnings become withdrawable. Many players don’t realize this and get frustrated when they try to withdraw funds too soon. To avoid disappointment, always check the wagering terms before claiming a bonus. If the terms seem too strict, it might be better to skip the bonus and bet with your own money instead.
Placing All Bets on One Game
It’s tempting to go all in on one bet, especially when using a bonus. After all, if you win, you could cash out big, right? Well, not quite. Placing your entire bonus on a single risky game is one of the quickest ways to lose it. Sports betting is unpredictable—there’s no such thing as a guaranteed win, no matter how confident you are. Instead of putting all your eggs in one basket, spread your bets. Betting on multiple events or different markets increases your chances of keeping your balance alive long enough to complete wagering requirements. For example, instead of betting €50 on one underdog with high odds, you could place smaller bets on a mix of favorites and riskier selections. This way, even if one bet loses, you still have a chance to recover.
Betting on the Wrong Sports or Odds
As mentioned before, not all bets count towards your bonus wagering requirements. Many players make the mistake of placing bets on sports or odds that don’t qualify—only to realize later that their wager didn’t count. Most sportsbooks set minimum odds (e.g. 1.50 or higher) to prevent players from betting on near-certain outcomes. If you place a bet on lower odds, it won’t contribute to meeting your wagering requirements. Some sites also restrict bonuses to specific sports or bet types, meaning a wager on eSports or horse racing might not count if the bonus only applies to football. Before you start betting, read the terms carefully.
Missing the Expiry Date
Sports betting bonuses don’t last forever, either. Every bonus comes with an expiry date, which means you need to use it within a certain period—often 7, 14, or 30 days. If you don’t meet the wagering requirements within that time, the bonus and any winnings from it disappear. Many sign up, claim the bonus, and then forget about it, only to realize too late that it’s expired. To avoid this mistake, check the time limit the moment you claim a bonus. Some sportsbooks require you to use the bonus within a week, while others offer a more generous timeframe. If you’re not a frequent bettor, it’s best to pick a bonus with a longer expiry period to give yourself enough time to meet the requirements.
If you use a sports betting welcome bonus properly, it can be a huge boost. Consider it a tool rather than a quick fix for quick cash. The smartest gamblers take their time, understand the terms, and place carefully planned wagers. Therefore, the next time you get a bonus, play wisely, maintain control, and take full advantage of it rather than merely going for the rush.