Are you interested in opening a new sports betting account? Or, have you been with the same sports book for a long time? If so, do you know how to use data analysis techniques to determine whether it is worth accepting a bonus or promo or not?
What is data analysis?
As part of the answer to the questions highlighted above, let’s consider a definition of data analysis and what role it can play in determining the veracity of accepting a promo or bonus.
Import.io defines data analysis as the “process of collecting and organizing data to draw helpful conclusions from it.” It is also helpful to note that the “process of data analysis uses analytical and logical reasoning to gain information from the data.”
The salient point here is that data analysis uses logic and reasoning to arrive at a conclusion. Therefore, it makes sense that it is essential to study the data to conclude whether to take up the sportsbook’s offer of a specific bonus or promo.
Analysing the data: A case study
One of the best ways of describing a problem and a solution is to cite a case study. Therefore, let’s consider an example of a bonus and promo offered by a sportsbook.
At this juncture, it is important to note that sports betting agencies do not offer the same bonuses and promos. The idea behind a bonus, like the welcome bonus, is to reward behaviour like signing up with the sportsbook offering the welcome bonus you are interested in. And, a promo encourages new behaviour from existing clients such as downloading and installing an app like the Betfair app.
Let’s look at the scenario of a welcome bonus.
The sportsbook that you are interested in signing up with is offering the following welcome bonus:
If you place a bet of £10 within the first 7 days of opening a new account, the sportsbook will reward you with £30 back in free bets. As with all promos and bonuses, there are always terms and conditions attached to the bonus. Therefore, it is essential to check that you can comply with the conditions before accepting the bonus.
The terms and conditions attached to this welcome bonus are as follows:
- The free bets are only available in two bets of £15 each.
- They can only be taken up once you have placed the £10 bet.
- They are also only available for single bets and not accumulator bets.
- There is not a minimum initial deposit amount. However, this bonus is not valid if you fund your bankroll using PayPal, Skrill, or any other method except credit card and wire transfer.
It’s important to note that there is no requirement to win the bet. All you have to do is to place a £10 bet, and you are eligible for the £30 free bets. However, there are several other important terms to abide by.
Your deposit mechanism is important. You cannot use the free bets to place accumulator bets. And, you will only receive the free bets when the outcome of the £10 bet is available even if it does not matter whether you win or lose.
Finally, if you can fulfil all of these conditions, then, in this case, it is worth accepting the welcome bonus.