Progressplay Welcome Offers – Are They Worth It?

progressplay welcome offers are they worth it

Progressplay offers white label solutions for brands wanting to launch an online casino or sports betting site. There are a number of casinos and bookmakers in the Progressplay network with several launching over the last couple of years. In fact, there are now over 60 online casinos operated by Progressplay Limited along with a handful of online sports betting sites and so it’s likely that you will have come across some of their brands.

In this article, we’ll be focussing on the sports betting sites in the Progressplay network and particularly, the welcome offers which they provide to new customers. We’ve found that all sports betting sites operated by Progressplay offer the same welcome offer and so this applies to all related sites at this moment in time. The reason for writing this article is that there are some slightly confusing and not too attractive terms in the welcome offers and so we thought it would be best to address them and determine whether or not the welcome offers have value.

So, what are the welcome offers given to new customers at betting sites operated by Progressplay?

Each welcome offer credits customers with a £10 free bet when registering a new account and placing their first bet of £10 or more.

Sounds pretty straightforward, right?

Not quite. As mentioned, there are some terms which you should take notice of which we have listed below.

1.Minimum Odds

The minimum odds for your qualifying bet are 1/2 (1.5). Nothing out of the ordinary here as we see minimum odds being applied to the majority of bookmaker welcome offers. So far so good.

2. Free Bet Winnings

Once you have received your free bet and placed it on a sport and market of your choice. Should your free bet win, the winnings are not credited as cash as you would normally expect. Instead, they’re credited as bonus funds which cannot be withdrawn at this point.

3. Wagering Requirements

As mentioned, your bonus, which is your winnings from your free bet should it win, cannot be withdrawn right away. You are required to wager the bonus amount ten times before it is converted into cash. For example, if you won £20 from using your free bet, you must then place £200 (£20 x 10) worth of bets using your bonus funds before the bonus is converted into cash and becomes withdrawable.

Wait…there’s more.

4. Cash Before Bonus

As well as having to wager your bonus ten times, should you have a cash balance alongside your bonus, this cash will be used first when placing bets before your bonus funds are. As only bets placed using bonus funds contribute towards wagering, you must have a cash balance of zero in order to start contributing towards the wagering requirements. For example, if you had a cash balance of £10 and a £10 bonus and placed a £10 bet, none of your stake would count towards the wagering as your bet will have been placed using your cash funds. This makes it difficult to complete the wagering requirements. Especially since you only have 7 days to do so.

5. Maximum Winnings

The maximum amount of cash which can be converted from your bonus funds is just £20. Should you win more than this when wagering your bonus, it will be forfeited when you complete the wagering and your bonus is converted into cash. When matched betting, this makes it almost impossible to lock in a profit as you could end up down should your bets win with the bookmaker and you have a bonus balance of over £20.

6. Withdrawal Fees

Progressplay betting sites charge a fee of £2.50 to make a withdrawal. Depending on the size of your withdrawal, this can have a big impact on the value of your bets and should you make multiple withdrawals, the fees could add up to a significant amount.

Which Bookmakers are Operated by ProgressPlay?

As mentioned, there are over 60 online casinos which are operated by Progressplay but the online bookmakers include: RubyBet, InterBet, BetSteve, MobileWins, VStarBet and OnlineBettingLtd.

If you do wish to claim a welcome offer from any of the sites listed, click on one of the links above to learn how.

Please note that the terms of the welcome offers mentioned in this article may change. Always read the T&Cs carefully before registering with any online betting site or claiming a betting offer.

By Matchedbets Experts


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