Unibet is currently offering a very appealing risk-free welcome bonus in a bid to grow market share across the country. On the surface, it looks similar to many of the sign-up offers promoted by rival sportsbooks, but there is one big difference. Read on to learn more about this offer.
What Makes Unibet’s First-Bonus Bet Offer So Special?
Unibet provides new customers with a First-Bonus Bet worth up to $500. That sounds inferior to the $1,000 First-Bonus Bets that several competitors promote. However, Unibet’s bonus stands out, because it will issue your refund in cash if your first bet loses.
Most online sportsbooks do not pay the refund in cash. They pay it out in site credit, with wagering requirements attached, meaning your first bet is not genuinely risk-free.
When you claim a First-Bonus Bet welcome bonus at most sportsbooks, you can place a wager on any sporting event. If it wins, you keep the money. If it loses, you will be given a full refund, which takes the form of bonus credit.
This bonus credit has a 1x rollover requirement. That means you need to play it through once before you can make a withdrawal. Your stake (bet amount) will not be returned when you place a successful bet with this bonus credit.
For example, let’s say you bet $100, and it loses, so you get a $100 refund in site credit. You then wager your bonus credit at odds of -110. If that wager wins, you will be paid your $90.91 profit in cash, but your $100 stake is not returned. That means you are still down $9.09 overall.
You, therefore, need to place a winning wager at odds of +100 with your bonus credit just to break even. That is not the case at Unibet.
Is There a Catch?
At Unibet, you can place a bet of up to $500. If it wins, the money is yours to keep. If it loses, Unibet will pay you a full refund, in cash, with no wagering requirements.
That means you can simply withdraw your money, walk away and never use Unibet again. For that reason, you have literally nothing to lose. There is no catch. Unibet is a licensed, regulator operator, and it will give you the full refund if your initial wager loses.
Why does Unibet offer such an appealing welcome bonus? It is really a matter of trying to gain market share at the expense of ambitious rivals. The brand is legal and operative in Arizona, Indiana, Iowa, New Jersey, Pennsylvania, and Virginia, but it has not proved as popular as competitors like FanDuel and DraftKings.
Those brands are offering increasingly generous welcome bonuses, such as the ability to bet $1 at odds of 100/1 (+10000) on a 3-pointer being made in an NBA game, so Unibet needs to offer something compelling to stand out.
It is a very attractive welcome bonus because it means you can bet $500 on any game, safe in the knowledge you will get a cash refund if it loses. Yet it also gives Unibet an opportunity to convert you into a long-term customer.
It is a very impressive all-around online sportsbook, so you may decide to stay for the long haul, but there is no obligation to do so.