If you like to keep your finger on the pulse in the betting world then you may have noticed some changes to special offers. Free bets and bonuses seem like they’re dying out, so we went on a mission to find out why this may be.
The New Bonus Tax
As of August 2017, the UK Government brought in a new bonus tax, which effectively sent a shockwave through the industry. They decided that sites would have to pay the tax on the value of bonuses as if they were real money. This was massive, as sites were giving out free bets and bonuses like candy.
Over the last few months, we’ve seen more sites changing the way that they offer these bonuses and switching the types that they give out. They have had to assess whether it’s worth it to be a site that can still give bonuses or whether their players are just after freebies.
Bonuses and free bets have long since been a major way for sites to entice new customers, but when it costs them real cash, then they may reconsider.
What do Players need to Know?
For now, the industry seems to be quite uncertain as they’re not sure which path to take. Individual sites will try different tactics, like simply paying the tax or changing over to different types of gifts, such as Amazon voucher giveaways like we’re seeing at bingo sites like Rocket Bingo. This brand is considered within the industry to be ‘innovative’ and in fact the site has recently introduced an altogether new welcome package, comprising of the ‘mega wheel’. This wheel can be spun by depositing players (terms apply) in order to give the player the chance to win the aforementioned Amazon vouchers plus a variety of other prizes, such as ‘free spins’. Note: there is no ‘deposit bonus’ as such, that has been scrapped altogether.
We’ll most likely see more freebies and prize draws as an incentive, rather than bonus bets.
In principle, finding the best site will remain the same, as you can still seek out value for money. Whether you’re getting bonus funds or merchandise, you will be able to assess if these offers are really worth it for you. It’s not hard to compare these offers, so shop around to get the best deal.
One thing you may want to note is that sites that continue to offer bonuses may implement stricter terms. They may limit what you can win with these freebies to reduce the risk for themselves. This fine print might seem boring, but it will impact your time on the site so do read it.
The bonus tax seems to have turned things upside down for both sites and players, though we’re sure each will acclimatise soon enough. You can still get good value for money from these sites, you just need to take a good look around to get the best.