The Bet365 Turnover Requirements & Rules For The Open Account Offer
Bet365 offer new customers a 100% matched deposit bonus when they open a new account with them. Whilst this is widely publicised across social media, television, and internet advertisements, many new customers find they come unstuck by failing to grasp the requirements of the bonus turnover – and what it actually means.
How The £200 Bonus Code Can Catch Out New Customers
Once a customer has registered with Bet365, they are required to make a deposit. There is not a no-deposit free bet offer; the customer must add funds to their account before being given a bonus. The bonus is known as a 100% matched deposit bonus, as it will match their largest single deposit within the seven days prior to entering the offer code, up to a maximum of £200 or currency equivalent. This means that if a new customer was to deposit £50, then £30, then £20 in the week before entering their offer code, they would receive a £50 bonus as £50 was the largest single deposit they made.
Customers are often caught out as they fail to realise they need to place bets that amount to the size of their bonus before they can unlock it. These bets are known as the qualifying bets, and bet365 do this to make customers risk their own actual money before being able to play with the bonus funds.
Once the bonus funds are available to bet with, customers must complete the turnover requirements – also known as the bonus rollover. This involves placing bets that will amount to three times your largest single deposit and bonus combined. So if you deposited £20, then entered the offer code and received a £20 bonus, you will need to place £120 worth of bets before being able to withdraw your winnings. This is explained in better detail on Bet365 bonus guide at CompareTheBets where they’ve added a brilliant calculator tool along with the exact instructions needed to claim the matched deposit bonus.
Why Is A Rollover Requirement Necessary?
Bet365 and other bookmakers and casinos use this strategy to prevent what is known as bonus abuse. This is where customers intentionally register with a bookie and put in the minimal effort required to claim the bonus or free bet and then leave, never to return again.
Bookmakers strive for long term members that provide regular custom, bet each time a big sporting event is on or even every week. They want their customers to download the app and bet on the go as they’d be more likely to show a friend their bet slip and persuade them to join too.
The bonus rollover ensures that customers have to use the bet365 for a short period of time before they can withdraw their winnings, which is usually long enough for them to become used to bet365 and continue to use them once the turnover is complete.
Why Can’t I Cash Out My Bonus Bets?
The rules set out in Bet365’s terms and conditions state that cashed out bets do not count towards the bonus turnover. Bets need to be fully settled before they are taken into account. Customers are welcome to cash out unsettled bets – it’s not like the feature is disabled – they just need to be aware that their bonus rollover amount won’t be affected if the feature is used.
Account Verification Is Required In 2016 & Beyond
Bet365 also require customers to send in copies of their passport/other identification such as proof of address from a recent bank statement or utility bill. This is a government requirement, not just something that bet365 have decided to carry out.