In this SBK Bonus Offer review, we’re going to zero in on the company’s Welcome Bonus and determine if it’s worth taking advantage of.
SBK Bonus Offer Review
The SBK Sportsbook app was created by the people behind the Smarkets betting exchange. Smarkets has been around for more than a decade and in that time has earned a reputation for providing “true price” odds that are free of the usual bookmaker markup and instead represent the real statistical probability of a given outcome. We talk more about Smarkets in our full SBK Bookmaker Review.
The SBK app is built around this premise and has amassed a large and growing following among punters tired of paying the typical bookmaker premium.
What Is The SBK Bonus Offer?
Different bookmakers offer different Sign-Up bonuses yet the vast majority are either deposit matches, risk-free bets (i.e. they cover your initial losses up to a point), or “Bet this much, get that much”. The SBK Offer is a classic example of the 2nd type.
In essence, SBK guarantee the first £20 in bets for new customers who open an account and then make a qualifying deposit of at least £20. There are a few things that separate this loss guarantee from that of other companies.
The first is that your losses do not have to be associated with only your first, or only 1, wager. It could be your first 10 wagers of £2 each. Or your first 2 wagers of £10 each. Secondly, the bonus is deposited into your account in the form of cash. So it’s your money to do with as you wish, even if you wish to withdraw it. Finally, you must place at least £20 in qualifying bets to be able to withdraw any bonus funds.
That means that as long as you make at least £20 in qualifying bets you can withdraw your refunded cash even if you only lost £5 or £9 or £16 out of the £20 you wagered. But if you lose, say, £16 but did not place at least £20 in qualifying bets, you forfeit that £16 in refunds.
How to Sign Up and Claim The SBK Bonus Offer
The SBK Welcome Bonus is only available to new customers. Fortunately, opening an account is a relatively simple and straightforward process that has one prerequisite: you must download and install the SBK app since this is an app-only bookmaker.
You will find the app at Google Play or the Apple App Store. It’s free and only takes a minute or 2 to download and install.
Once the app has been installed, open it up and tap on the “Register” button in the top right corner of the screen. This will open a registration form. Here you will need to enter some basic information about yourself.
- Enter your full name, DOB, a valid email address and your country.
- After that, you will be asked for your address, postcode, and mobile number.
- Next, you will need to choose a unique username and password and select a preferred currency.
- Then choose your preferred odds format and the way you prefer to be contacted in case an issue should arise.
- Once you have provided that info tap “Register”.
A verification email will then be sent to the email address you provided. Open that mail and verify your account. Once the account has been verified you can deposit funds and claim your SBK Sign-Up Bonus.
SBK require a minimum deposit of £10 for all new accounts. However, if your goal is to take advantage of their £20 bet guarantee you will need to deposit at least £20 in a single deposit and make sure you use a qualifying payment method. Qualifying payment methods include MasterCard debit, Visa debit, Trustly or by bank transfer.
If you are not interested in claiming the SBK Welcome Offer you have other deposit choices, including PayPal, Skrill, Neteller and Maestro.
How to Use The SBK Bonus Offer
Once you open your SBK account through the app and make a qualifying deposit, how you use the Welcome Bonus Offer is up to you. The only betting requirement associated with the Bonus Offer is that you must wager at least £20 of your qualifying deposit in order to claim any cash refunds.
And as we mentioned your losses do not have to be associated with your first bet or any single bet. Those losses can be accrued over multiple wagers. The most important stipulations are that the losses must occur within 7 days of opening your account and your qualifying wagers within that period must add up to at least £20.
So, if in your first 7 days of activity you wager £15 and lose it all, SBK will not cover those losses. If, on the other hand, you wager at least £20 and lose £15, your account will be credited with £15 in cash.
Main SBK Bonus Offer Terms
There is no such thing as a free lunch, and there is no such thing as a Welcome Offer that doesn’t come with Terms & Conditions. For the SBK £20 Bonus Offer the T&Cs are as follows:
- This offer is only available to new customers who are residents of the UK, Ireland or Malta.
- Only 1 person per household may qualify for this offer.
- SBK is an app-only sportsbook so you must sign up via the app.
- You must make a qualifying deposit of at least £20 using a debit card, bank transfer or Trustly.
- You must place at least £20 in qualifying wagers within 7 days of opening your account.
- If you do not wager at least £20 in that period no losses will be covered.
- All losing bets must occur within the 7 day period.
- The total amount of losses covered is capped at £20.
- Any refunds must be used or withdrawn within 7 days of being issued or they will be forfeited.
- Deposits made using PayPal, Skrill, Neteller or Maestro will not count toward the Bonus Offer.
- Customers who register new accounts through this offer may not participate in other new customer promotions.
There are 2 possible stumbling blocks to cashing in on the SBK Sign-Up Bonus Offer. The first is the 7-day limit. A week can go by in the blink of an eye, so if you’re not someone who wagers a lot you could easily lose track of time and the offer will expire. Second, you have to make sure that you place at least £20 in qualifying wagers in those 7 days or none of your losses will be refunded.
Does SBK Offer Bonuses To Existing Customers?
There is a lot to like about the SBK Sportsbook app, but it is not without its downside. Perhaps the biggest is the almost complete lack of regular promotions for existing customers. We assume this has to do with A) the app being only a couple of years old with the company just getting on its feet and B) their true price model does not provide them with the kind of disposable cash other online betting sites use to finance regular promotions. Maybe over time, the company will rectify this situation. But for now, existing customer promotions are few and far between.
SBK Ongoing Bonus Promotions
We keep an eye on all current betting sites and it has been some time since we’ve seen a promotion outside this company’s Sign-Up promo. In fact, if you go to the “other promos” page of the company’s informational site you will see that page is currently empty.
Why Join SBK?
You might think that it’s not worth signing up for a sportsbook that doesn’t offer anything substantive in the way of existing customer promotions. But in the case of the SBK app, you’d be mistaken. The true price business model alone – wherein odds are taken from the Smarkets betting exchange – separates SBK from the rest of the sportsbook crowd and could wind up making a significant financial difference for the active punter. But that alone is not the only thing SBK have going for them.
- There’s an integrated social media component that enhances customer engagement.
- There is an unexpectedly large number of Live In-Play betting options.
- SBK provide more deposit methods than some of the other more established bookmakers.
- The app itself is uncluttered and very easy to use.
SBK Bonus Offer Verdict
The SBK Welcome Bonus consists of the company guaranteeing the first £20 in qualifying wagers made by new customers during the first week after they sign-up. There are a few stipulations that come attached to the offer, including the fact that if you do not place at least £20 in qualifying bets in your first 7 days any losses are not covered. In which case, you essentially get nothing for having signed up. For most punters that won’t be a problem, but it’s something to be mindful of.
Overall the SBK Refund Bonus is neither the best nor the worst Welcome Offer out there. The real selling point of the SBK app is the true price model which eliminates the typical bookmaker markup. That, in theory, should give you a slightly better chance of cashing in on your bets.
What Is The SBK Free Bet Welcome Offer?
The SBK Welcome Offer takes the form of a free bet guarantee. If a new customer makes a qualifying deposit of at least £20 and wagers at least that amount during the first 7 days after opening their account, SBK will cover any losses up to £20.
There are several good things about this offer. First, it is not dependent on the outcome of only your first bet. You can place numerous small bets and as long as the total wagered adds up to £20 your losses will be covered. Second, all refunds are in the form of CASH and not so-called Bet Credits. And third, there is no Bonus Code required to take advantage of this offer.
You will, however, have to make sure you deposit money using a debit card, Trustly or a bank transfer. And all wagers and losses must occur within 7 days of opening your account. If you do not wager at least £20 during that period any losses incurred will not be covered.
What are the wagering requirements for the bonus offer?
The only wagering requirement associated with this Welcome Offer is that you must place at least £20 in qualifying bets within 7 days of opening your account in order to have your losses covered. Other than that it’s all good. The company use the term “qualifying wager” but in reality, any wager on the SBK sportsbook app will qualify. Unlike other Welcome Offers, your wagers do not have to be at any specific odds or only on specific sports or specific markets. That means you can choose any market on a sport you know well, which should enhance your chances of a successful wager.
What deposit methods can I use to trigger the bonus offer?
The SBK Sportsbook app accepts a number of different payment methods, but if you want to cash in on their promo offer you will need to deposit at least £20 using only a MasterCard debit card, Visa debit card, Trustly or a bank transfer. Deposits made through payment gateways like Skrill and Neteller will not qualify.
Can existing customers claim a bonus at SBK?
When it comes to the SBK app the company will tell you that you receive a huge sportsbook-wide bonus every day in the form of their “true price” odds gleaned from the Smarkets betting exchange. And to a certain extent, they have a point. Judging by how popular the app has become in a short period of time, many punters apparently agreed with them. Others, however, may feel the true price model alone is not enough. It depends entirely on what you want from a sportsbook like this.
What other promotions does SBK provide its existing customers?
We discussed this above but it’s worth repeating: for various reasons you will be hard-pressed to find any existing customer promotions on the SBK app. No doubt the fact that they use bare-bones “true price” odds has something to do with that, as does the fact that the app is brand new and is still getting up to speed. This situation may correct itself in the future. But for now, if you are intent on joining a sportsbook that offers existing customers regular promos and bonuses, SBK is not your best choice.