If you are a regular or an experienced sports bettor, you will certainly have used at least once in your betting life, promotional offers that most online bookmakers now provide to their users. In fact with the internet, one distinguishing characteristic between the betting sites and the traditional brick-and-mortar betting shops, is that the first ones are able to give away gifts and make promotions that were literally unthinkable in the past.
Free bets, sign-up offers, welcome offers and other such bonuses are so common now, that they are integrated to the core offering of the bookmakers instead of supplementing the key services provided. Bonuses have become so widespread and so much popular in the online sports betting world, that they are seen as necessary and integral components of the products and services offered by bookies.
This holds true for every single sportsbook, in every place and regarding every single market, whether we are talking about online cricket betting or betting on any other sport. Punters want and expect bookies to give them gifts and offers in the form of bonuses. They do so because bonuses can mean more funds to wager, more chances to win and get some profits, more chances to entertain themselves, more chances to engage with their favorite game and generally more chances to bet.
But what’s in it for the sportsbooks? Why do bookmakers - all so generously - give away gifts, special offers and bonuses to users? Well, there are many reasons, some rather obvious and explicit, and some more implicit and indirect. If you have ever wondered why bookmakers do that, just read the following to get some idea.
Customer acquisition is a very demanding process for every enterprise in all industries around the world. It can be more demanding and complex when competition is fierce and the internet gets in the way - meaning that everything happens online.
Bookmakers have no other way but to lure customers with their appealing services and products. And in order to make their offerings more appealing, they offer incentives in the form of bonuses and promotions, designed to catch the eyes and capture the interest of new bettors.
Attracting new customers is very critical for bookmakers, because this is the way to make more profits. Having new bettors signing up means more deposits, more bets, more vig and more revenues!
Not everything is about getting new users. Often it is about retaining the existing users and making sure that they continue to be happy with their betting sites. In that case, bookmakers want to extend their relationships with bettors and make them more long-lasting.
Retaining already existing users is far cheaper than acquiring new customers and so providing special offers and bonuses becomes a strategic tool at the hands of betting sites, in their effort to sustain relationship and transactional exchanges with the punters.
Bookmakers want to accept more and more bets, so as to optimize their profits. And in doing so, they want to reward bettors’ behaviour that facilitates their profit optimization. Entitling them to bonuses, special promotions and giving them personalized offers, is a type of reward which perpetuates the desired behaviour.
Gaining more information and learning their customers is one of the ultimate objectives that every bookmaker tries to accomplish. Information and knowledge give more power to sportsbooks in the process of understanding bettors. Understanding bettors is, literally, the most important thing considering that it allows bookmakers to design, tune and customize offerings to their users.
When sportsbooks understand how their customers bet, what they prefer, or even when they wager and other things relevant to their betting behaviour, they are in a position where they can develop tailored services to their users and this means more bets and more profitable business.
So, always have in mind that while bonuses and special offers provided by betting sites and online sportsbooks will eventually give you a good start or an extra edge in wagering, they will always have a further objective to deliver and this is none other than giving an advantage to the bookmakers themselves and leading them to more profits.
This does not mean that you should not leverage or take advantage of the offerings. On the contrary, we are talking about a win-win case, where you get to benefit from any promotion and the sportsbook gets to benefit from your behaviour.