If you aren’t familiar with the world of sportsbook bonuses, then pay attention. Today, we’re diving into all things sports betting offers, from sign-up bonuses to referral offers, reload bonuses, and more.
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Sportsbooks bonuses are exclusive opportunities to get rewarded for betting at online sports betting platforms. The main types that we’ll detail today include the deposit match bonus, no deposit bonus, free bet, reload bonus, and cash bonus.
Keep reading as we explain how sportsbook bonus offers work, whether or not they’re worth the investment, and which types are the best across today’s major online bookmakers. Let’s get into it!
You can think of sportsbook bonuses as rewards that you get for investing your bankroll into a betting site. They come in different forms, including welcome bonuses, refer-a-friend offers, and even free bets that let you wager “risk-free”.
Usually, they involve terms, such as a minimum deposit, turnover requirements, and a time frame in which you must use the offer for it to be valid.
There’s a lot of debate as to whether or not sportsbook bonuses actually provide decent rewards to players. But it depends on what type of bonus you’re using and how strict its terms are.
For example, you could have a high-value welcome bonus worth more than 150% of your deposit. But if that bonus has a 40x rollover requirement, it’s not worth it.
The same goes for bonuses that have low value and require a large initial deposit to use them. You have to study the terms before you decide which bonuses to use.
You should be aware of the different promotional offers you’ll find at online betting sites. Aside from the initial first deposit offers, there are other bonuses, such as free bets and reload bonuses, to avail of. Take a look at the most common that you’ll find at major sportsbooks online.
The welcome bonus, also known as the sign-up bonus or new customer bonus, is reserved specifically for a player’s very first deposit. Sometimes, these bonuses are extended to include the 2nd and even the 3rd deposits if they are multi-part bonuses.
Deposit match basically refers to the way that the bonus is determined. The sportsbook will set a bonus percentage – usually between 50%-150% – that determines the value of your reward. For example, if you have a 50% deposit bonus offered, and you make a $100 first deposit, then your bonus value is $50.
In some cases, you get your stake back, as well as your winnings. But sometimes, you merely get the winnings and lose that deposit in the end.
A “no deposit bonus” is fairly rare, since most sportsbooks aren’t keen on giving away wagering money free of charge. But when this bonus does exist, you’re able to avail of free player money to make sports wagers with, and you don't have a deposit minimum rule.
Because these types of bonuses benefit you more than the sportsbook, you’re not likely to find them accompanied by a high rewards value.
When they do exist, they’re usually pretty small, but the upside is that you might have lowered wagering requirements.
Risk-free bets, also known as free bets, are a different kind of promotion that is arguably more worthwhile. Although the value of a risk-free bet is much lower than a welcome bonus, these bets have pretty low deposit minimums (about $5-$20).
Furthermore, they’re often offered on an ongoing basis at online sportsbooks, such as weekly NFL free bet promos. These special bonuses give players the chance to risk a bit less in order to have a chance at bigger winnings on their favorite sports.
Obviously, they’re not entirely risk-free, as they still involve gambling. But what you do get is the chance to bet with the promise of a site credit refund if you lose that bet. It’s essentially like a do-over opportunity.
A reload bonus is slightly less common than a welcome bonus, but more and more sportsbooks are starting to feature them today. Reload bonuses are exactly what they sound like – an addition on top of your initial deposit bonus.
After you fulfill all of the requirements of the sign-up bonus with your first deposit, the reload bonus kicks in on your 2nd or even your 3rd and 4th deposits at the bookmaker. As the reload bonus opportunities continue, they gradually decrease in value.
However, they’re still great opportunities to get rewarded by your betting platform.
The first thing to know about cash bonuses is that you shouldn’t be deceived by their name. Even though the name implies cash winnings, you don’t actually get to pocket money outside of the sportsbook. The “cash” referred to in the name is actually cash that you get to use within the sportsbook on wagering markets.
Cash bonuses usually come in the form of a welcome bonus, whether alongside a deposit bonus or stand-alone. They’re not quite as common as deposit match sign-up bonuses, but when offered, cash bonuses provide a small bonus opportunity to bettors.
Last but not least is the referral bonus, also known as the refer-a-friend offer. Some sportsbooks offer ongoing referral bonuses, while others only offer the chance once to their customers.
This bonus lets existing customers refer a friend to join the sportsbook as a new customer. If that friend successfully joins and places their first deposit, then rewards are provided. In some cases, only the existing customer gets rewarded, but in other cases, both the existing customer and their referred friend get a bonus offer.
Below, we’ll highlight the biggest bonus offers available at 11 of the top sportsbooks on the market right now. Take a look at the ways in which their values, rollover requirements, deposit minimums, and other terms differ from one another.
|Bonus Offer Terms|
|MyBookie Sportsbook||100% deposit match sign-up bonus:
|Bovada Sportsbook||Crypto sports welcome bonus:
|BetNow Sportsbook||150% deposit match sign-up bonus:
|BetOdds Sportsbook||125% free play welcome bonus:
|BetOnline Sportsbook||100% 1st time player crypto bonus:
|BetUS Sportsbook||200% crypto sign-up bonus for sports and casino:
|Wagerweb Sportsbook||Special football welcome bonus (limited time offer):
|Xbet Sportsbook||100% sports sign-up bonus:
|GTBets Sportsbook||150% deposit match sign-up bonus:
|Sportsbetting Sportsbook||100% first time customer crypto bonus:|
|YouWager Sportsbook||100% crypto payment initial bonus:
Hopefully, our guide has helped you to better understand online sportsbook bonuses and how they work. While these bonuses are enticing, you should be aware of the terms and conditions, such as eligibility requirements, rollover requirements, expiration dates, and more.
Some of the biggest bonuses at sportsbooks come from the new customer offers, which are usually presented as cash bonuses or deposit match bonuses. Other bonuses include referral offers and risk-free bets, which you can explore at your sportsbook’s promotions page today.