Are Betting Bonuses Legitimate? 

The online sports betting industry in Nigeria is growing at a fast rate, making it one of the most sought-after markets in Africa.

As a matter of fact, Nigeria is ranked as one of the top three betting countries in the continent, but the actual order varies depending on the yardstick or metrics employed. With the teeming population of the country and the market potential, it is not hard to see why many betting companies are falling over themselves to have a piece of the market.

It is estimated that 3,000 is wagered on sports betting daily, and 730 billion annually. With such a staggering figure, it is a no brainer that more betting companies local and foreign, will have their eyes firmly planted on establishing themselves in Nigeria.

With a market of that magnitude, it is not a hard sell for betting companies to pitch their tent in Nigeria. And when they do, they come bearing all sorts of freebies and promotions in a bid to attract new players.

Realizing the immense market potential and the willingness of the average Nigerian to take a chance or fully embrace sports betting with the promise of a bonus, the betting companies themselves are doing all they can to win over customers and keep them to increase their profit margins.

One of the most popular forms of promotions is the new player sign up bonus. This is essentially the bonus given to players to players who create a betting account and make a deposit

on betting sites.

To get new players to sign up and deposit, they employ various marketing techniques with a special emphasis on the new player offers. They design campaign materials and commercials to highlight the sign-up bonuses for new players.

With that, they achieve a top-of-mind awareness and the players start trickling in numbers with the aim of claiming a bonus.

But are these bonuses legitimate or as valuable as they make it seem?

Of course, betting bonuses are legitimate, and almost all the legal betting sites in Nigeria offer one form of betting bonus or another for new players.

These bonuses come in different forms, but the overriding principle is that they are handing players free money to bet. That is not the case, and most bettors are oblivious to this fact.

Bonuses are not as straightforward as most people with no betting experience assume. Bonuses are not exactly what they seem, as they come with many terms and conditions that the average new player might be too excited to care about.

Terms and conditions are an integral part of a betting bonus and there is hardly a bonus offer without its terms and conditions. These conditions could include the minimum deposit required to claim the bonus, the validity period, minimum odds to wager on, wagering requirements, and others.

When a player joins a betting site and claims a sign-up bonus, they are expected to follow all the terms and conditions listed with the bonus offer. If the conditions are not met, the bonuses will not be granted and the aim of signing up on a betting site will be defeated.

But in actual fact, these terms and conditions are some of the stringent conditions made. It is practically hard, if not impossible to fulfil for new players with little or no betting experience.

But when a bonus is successfully unlocked on any betting site, it provides players with a lot of wagering power to get their betting adventure started.

However, there are some really good signs up offers for players with limited sports betting experience. These new player betting bonuses have been subjected to rigorous testing, and have been found to be redeemable and valuable.

Despite the fact that these bonuses may not be easy to claim, betting sites still project them to potential new customers as a means of attracting them.

Prospective new players themselves are not averse to claiming these bonuses because of the lure of ‘free money’ which isn’t exactly free. Sensing the penchant of the players for free stuff, betting companies double down on their commercial drive to achieve top of mind awareness and brand visibility.

The media becomes awash with various advertising campaigns. Prospective players get inundated with advertisements both on Radio, Television, and on the Internet. As it stands today, betting bonuses are still very legal in Nigeria and the advertisements of betting products are still within the confines of the law.

For the foreseeable future, betting companies will keep promoting their new customer offers with a view to winning more customers.

However, it is advisable for players to evaluate the terms and conditions of bonuses before claiming them. This will go a long way in helping to glean value and create a really good bankroll to start placing bets.