With so many bookmaker offers out there it’s very easy to just pick a random one and follow the necessary matched betting steps and make a nice little profit. However, it is so important that you avoid the pitfalls of signing up to a bookmaker offering a very large sign up bonus, to later find that the rollover requirements are so large that it takes you weeks and weeks to make a profit, or even worse they restrict your account shortly after signing up leading to you losing a great deal of money.
There aren’t too many of these offers to worry about, but it is definitely worth knowing about because it can effectively destroy all your hard work and hard earned profits. A few bookies that we advise not to take advantage of their welcome offer for matched betting purposes include Racebets, royalpanda.com/redirect.aspx?pid=10742&bid=6038" 1501 rel="nofollow" target="_blank">Royal Panda, Netbet, and Titanbet. The wagering requirements (meaning the amount you have to bet) are just so high you could find your accounts becomes restricted before you meet this target and get to withdraw your money.
We’ve heard some horror stories where someone has signed up and claimed the maximum bonus, then placed some bets with high odds that ended up winning, to later find their account was restricted and they essentially lost nearly £1500. This is because when backing and laying, you are using bonus money (with some risk you never can withdraw) on the back side, and your own money on the lay side on the exchange. So hundreds of your money could in effect be transferred across to the bookmaker side and even worse counted as bonus funds. So be careful as it can get risky with these offers.
We found this review on trust pilot of someone losing a fortune to royalpanda.com/redirect.aspx?pid=10742&bid=6038" 1501 rel="nofollow" target="_blank">Royal Panda.
Saying that, we still advise you sign up to these bookmakers as they run some fantastic regular offers which don’t have the same wagering requirements. For example titanbet are currently running an offer where they refund you up to £25 as a free bet if your horse loses by a length or less at a selected racecourse every day. Excellent and very profitable offer, we have to say. So when you sign up to these bookies just untick the box stating that you don’t want the welcome bonus / deposit bonus.
In the event that you are restricted whilst holding a huge bonus balance, dont worry not all is lost. You can complain to IBAS, the gambling commission, the FCA (financial conduct authority). Alternatively you might find that it’s just your sports bets that are restricted, so in this case you could do the following. Find a slot game and look for the highest RTP (return to player) on there. If you find one with 95% then the expected value is that you would lose £5 per 100 wagered so if it is £1500 you need to wager then losing £75 may not be the worst scenario.
Again it very unlikely that this will happen to you however we wanted to raise the point that it could happen and there are ways around it. The best advice is definitely to just simply avoid these welcome bonuses though.
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