What are the downsides of using a bonus for online betting?

One of the secret weapons of some betting operators is their bonuses. The recent boom in the iGaming industry has led to the arrival of many new gambling operators. The vast majority of them are already in a partnership with the best casino software suppliers and offer the most sought-after sports in the world. 

In other words, it is becoming increasingly difficult for some betting websites to attract new clients because the competition is fierce. That’s why some of them put a lot of work into their promo section and try to make it as appealing as possible.

Most offers that you will come across provide different benefits. However, some offers also come with many disadvantages that people don’t realize until it’s too late. Let’s take a look at some of the most significant downsides of using a promo for online betting.

You need to make a substantial deposit

If you take a look at the bonus code for leo vegas by Efirbet, you may notice that the promotions don’t require you to add a lot of money to your account. Sadly, most bookies are not like that, which means that you may have to make a large deposit to use some of the betting bonuses.

Some rewards do not require you to make a substantial deposit in order to use them. However, if you add the minimum amount of money, your prize won’t be that impressive.

In some cases, you have to bet on things you don’t like

There are all sorts of casino and sports betting promotions that you can take advantage of. Unfortunately, only a fraction of them allows punters to use the reward on everything they like. Most of the offers that you will come across can be used for specific things, such as a big event, a particular sport, or a casino category. 

The only way to learn whether your offer can be used on whatever you want is to read the full T&C. Sometimes, you may not find this information there, which means that you also have to contact the customer support team. So, check whether the bookie/casino has a live chat or it uses other contact options.

Unless you comply with the specific conditions, you may not be able to make a withdrawal

One of the common conditions that you will find on every online bookie won’t allow you to withdraw your winnings unless you complete the wagering requirement of the bonus that you are currently using. This might not seem like a big deal, but in some cases, you have to wager your bonus over 50 times, which means that there is a pretty big chance you will lose your money.

If you violate some of the crucial requirements, your account might be suspended

The last disadvantage that many people forget is that their account might get closed if they don’t comply with some of the conditions. If you want to avoid this problem, take a good look at the specific requirements and make sure you comply with them.