Although Ontario online gaming operators can’t plaster Toronto with welcome bonus ads, new sportsbooks offer bonuses. Bettors will be able to find these bonuses in each sportsbook’s promotions section. However, bettors may be wondering whether sportsbook bonuses are worth cashing in. Here’s how to skim Ontario bonus terms and conditions to avoid wasting time on bad bonus offers.
Sportsbook bonuses will have basic terms and directions on the same screen as its bonus. For example, one BetMGM bonus tells bettors to download the app and how the bonus works. Knowing that bettors will get site credits after losing their first bet is important.
But there are other terms, like how long bettors have to redeem the bonus or what odds qualify bettors for this bonus, that are critical for bettors to understand. That extra information is in the terms and conditions.
Skimming Sportsbook Bonus Terms And Conditions
Ontario bettors shouldn’t have to read all the terms and conditions attached to a bonus every time they want to opt-in. While we’d recommend new bettors give it a read, there’s a lot of repetitive legal material that gaming operators are required to have on each bonus.
What affects most bettors will be near the top or alongside the promotion. Ontario regulations require “all material conditions and limitations of the offer at its first representation,” with others “no more than one click away.”
Good terms and conditions have headings that help bettors find the restrictions they’re looking for quickly. But here are some of the important terms that bettors should be on the lookout for:
- Who qualifies for the promotion
- Deposit requirements
- Minimum odds requirements
- Site credit denominations
- Site credit restrictions
- Time to spend site credits
Some bonuses are only for bettors who created new accounts. Others are for anyone who’s opened an account.
Some bonuses require bettors to make a minimum deposit. For example, a bet insurance promotion may require bettors to deposit a minimum of $10 to be eligible for the promotion’s bonus credits. Bonuses like these often have minimum odds, too. Often, bettors will have to make a bet on odds of -200 or higher to qualify for the bonus. But that can vary across sportsbooks and promotions.
Site credits may be paid out in separate installments, too. A $1,000 bet insurance bonus could be paid out in one $1,000 chunk or in 20 separate $50 bets. If bettors want to make separate bets or one large bet with their bonus credits, then they need to read this section of a bonus’ terms.
Finally, sportsbooks give bettors a certain amount of time to spend their bonus credits. Usually, bettors have 7-14 days to use their site credits. There may also be restrictions on what they can use their site credit on. But bettors need to know how much time they have to spend the bonus credits they spent precious time — and money — to earn.
Are Ontario Sportsbook Bonuses Worth It?
Ontario sportsbook bonuses are worth it if the terms are compatible with a bettor’s budget and time commitment. For example, getting site credit just for signing up doesn’t have any strings attached initially. Bettors that win money and would like to withdraw will have to provide payment information and user verification to do so.
Deposit match bonuses will award site credits based on how much bettors deposit, then wager. The deposit amount usually sets the number of site credits that bettors are eligible for. But bettors don’t get any site credits until they spend the money they deposited.
Terms like those are why the terms and conditions are so important. Luckily for bettors, sportsbook bonus terms aren’t like the terms and conditions they accept when they buy new phones. The important conditions for bettors are near the top, usually in a section that’s easy to find.
Sportsbook bonus terms are also many orders of magnitude shorter than the terms and conditions bettors will find at other businesses. These terms aren’t complicated tech agreements. They’re rules for winning site credits with some strings attached.