Creative Ways to Promote Online Sports Betting
The online sports betting industry continues to expand at a rapid pace. According to Research and Markets, the global online gambling market is projected to grow by $114.14 billion between 2022-2026. However, the competition is also heating up. Hundreds of sportsbooks and betting apps are vying for market share.
Simply having an online or mobile presence is no longer enough. Sportsbooks need to get creative with promotions to attract and retain bettors in this crowded market. But which types of promotions really move the needle on key metrics like signups, deposits, retention, and revenue?
This article explores some of the most innovative and effective promotions being used by leading online sportsbooks like Winamax.
#1 Welcome Bonuses
Offering a signup or welcome bonus is one of the most common promotional tactics used by online gambling sites. These bonuses usually match a percentage of a new customer’s first deposit up to a maximum amount.
According to a 2021 poll, welcome bonuses were the most popular incentive for 88% of bettors when choosing a new sportsbook.
#2 Risk-Free First Bets
Risk-free bets allow new users to place their first real-money wager with no risk. If they lose, they get the stake amount refunded in site credits.
This promotion provides a great incentive for new registrations and activation. Risk-free bets convert up to 20% better than traditional signup bonuses.
#3 Refer-a-Friend
Referral programs reward existing users for referring friends and family to open an account. Both the referrer and referee typically receive a site credit bonus.
Refer-a-friend promos leverage word-of-mouth and personal recommendations to acquire players. They have an impressive 32% conversion rate from referral to funded account.
#4 Leaderboards and Contests
Gamification strategies like leaderboards, brackets, sports pools, and betting contests turn wagering into a social competition.
For example, sportsbook operators may offer weekly or seasonal long contests with prizes for top earners. These promotions boost engagement and may convert single-event bettors into parlay players.
#5 VIP and Loyalty Programs
VIP and loyalty schemes provide points, tokens, or cashback for frequent bettors that can be redeemed for bonuses or merchandise. Tiered programs with escalating rewards give users an incentive to keep playing to reach the next status level.
#6 Promotional Free Bets
Free bet offers are credited to a player’s account to use on future wagers without risking their own money. These may be offered to reward activity or as incentives to return to the sportsbook.
Even though free bets have become common, they still ranked second highest behind welcome bonuses for persuading players to open an account at 71%.
#7 Enhanced Odds
Boosted odds promotions temporarily increase the potential payout on select betting lines and outcomes. Sportsbook operators can leverage enhanced odds to incentivize betting on niche sports, less popular teams, or high-margin outcomes.
#8 Parlay Insurance
Parlay insurance refunds a portion of the stake amount if a multi-leg parlay bet falls short by just one leg. This protection gives bettors confidence to build bigger and more aggressive parlays with longer odds.
Offering parlay insurance can lift parlay bet volume by 15-25%. The increased action on these high-margin wagers may offset any payouts from the promotion.
| Promotion Type | Effectiveness |
| Welcome Bonuses | 88% most persuasive |
| Risk-Free First Bet | Up to 20% conversion lift |
| Refer-a-Friend | 32% referral-to-funded rate |
| Contests | Boost engagement 15-30% |
| VIP & Loyalty | Improves retention up to 25% |
| Promotional Free Bets | 71% find persuasive |
| Enhanced Odds | Lifts niche betting 10-15% |
| Parlay Insurance | Parlay bet lift 15-25% |
The promotions listed cover a wide range of bonuses and incentives found at today’s leading online sportsbooks. Each has proven results in elevating key performance indicators.
Of course, operators must test different variations to see what resonates best with their particular player demographics and target markets. However, following examples from the most successful betting sites is a good place to start.
