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Best Sportsbook Promotions

Content on this page may include affiliate links. If you click and sign up/place a wager, we may receive compensation at no cost to you.

By Cole Rush & R.J. White Nov 24, 2024 at 5:08 am ET 11 min read

We have compiled the best sportsbook promos from FanDuel, DraftKings, BetMGM, Caesars, bet365, and Fanatics, who are all offering great deals for new users, who can sign up and place bets on any game, like the Texans-Cowboys Monday Night Football matchup in Week 11 of the NFL regular season.

Bet $1, Double Your Winnings Your Next 10 Bets Up To $25 Max Bet Per Boost
Claim bonus

Must be 21+ and physically present in AZ, CO, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, NJ, NY, NC, OH, PA, TN, VA, WV, WY or Washington, DC. New users only. Must register using eligible promo code. Min. qualifying bet amount: $1. Tokens max. bet amount: $25 per token. Tokens bet max. add’l winnings: $2,500 per token. Token(s) expire 14 days after receipt. Not reissued for voided/pushed bets. Void where prohibited. See Caesars.com/promos for full terms. Know When To Stop Before You Start®. Gambling Problem? CO, IL, KY, MD, MI, NJ, OH, TN, VA, WV, WY, Washington, D.C. (OLG Class A licensed Operator), KS (Affiliated with Kansas Crossing Casino), LA (Licensed through Horseshoe Bossier City and Caesars New Orleans), ME (Licensed through the Mi’kmaq Nation, Penobscot Nation, and Houlton Band of Maliseet Indians, federally recognized tribes located in the State of Maine), NC (Licensed through Tribal Casino Gaming Enterprise), PA (Affiliated with Harrah’s Philadelphia): If you or someone you know has a gambling problem, crisis counseling and referral services can be accessed by calling 1-800-GAMBLER (1-800-426-2537) or MD: visit mdgamblinghelp.org or WV: visit 1800gambler.net; AZ: Call 1-800-NEXT-STEP; IN: Call 1-800-9-WITH-IT; IA: Call 1-800-BETSOFF. Data & text rates may apply. Gambling Problem? Call 1-800-GAMBLER, MA: Call 1-800-327-5050 or visit gamblinghelplinema.org, NY: Call 877-8-HOPENY or text HOPENY (467369).

Bet $5 Get $150 In Bonus Bets If Your First Bet Wins + 3 Free Months Of NBA League Pass
No code required
Claim bonus

21+ (18+ D.C.) and present in AZ, CO, CT, DC, IA, IL IN, KS (in affiliation with Kansas Star Casino), KY, LA (excluding certain perishes), MA, MD, MI, NC, NJ, NY, OH, PA, TN, VA, VT, WV, or WY. Void where prohibited. First online real money wager only. $5 first deposit required. Bonus issued as nonwithdrawable bonus bets that expire 7 days after receipt. After 3 months free trial, the full price of League Pass will be automatically charged monthly; cancel anytime. NBA League Pass – local blackout restrictions appply. No refunds. Terms, restrictions, and embargoes apply. Limit 1 pass per customer. See terms at sportsbook.fanduel.com. Data & text rates may apply. Gambling Problem? Call 1-800-GAMBLER or visit RG-help.com. Call 1-888-789-7777 or visit ccpg.org/chat (CT). Hope is here. GamblingHelpLineMA.org or call (800) 327-5050 for 24/7 support (MA). Visit www.mdgamblinghelp.org (MD). Call 1-877-8HOPE-NY or text HOPENY (467369) (NY).

Up To $1,500 In Bonus Bets If Your First Bet Loses
Claim bonus

21+ only. First Bet Offer for new customers only. Min. first deposit of $10. Subject to eligibility requirements. Rewards are non-withdrawable bonus bets that expire in 7 days. Bonus bets amount equals lost stake up to $1500. Must be physically located in NC, NJ, IN, WV, DC, CO, PA, MI, IA, AZ, LA, TN, IL, VA, MD, MS, WY, MA, KS, OH, or KY. Void where prohibited. In partnership with Kansas Crossing Casino and Hotel. See BetMGM.com for Terms. US promotional offers not available in Mississippi, New York, Nevada, Ontario, or Puerto Rico. Please Gamble Responsibly. Call 1-800-NEXT-STEP or text NEXTSTEP to 53342 (AZ), 1-800-BETS-OFF (IA), 1-800-981-0023 (PR). Data & text rates may apply. Gambling problem? Call 1-800-GAMBLER (Available in the US) Call 877-8-HOPENY or text HOPENY (467369) (NY) Call 1-800-327-5050 (MA).

Bet And Get Up To $1000 In No Sweat Bets
No code required
Claim bonus

Must be 21+. New customers in AZ, CO, CT, DC, IA, IL, IN, KS, KY, LA, MA, MD, MI, NC, NJ, OH, PA, TN, VT, VA, WV, or WY only. Void where prohibited. Must apply this promotion in your bet slip and place a $1+ cash wager with odds of – 500 or longer each day for 10 straight days.Your 10 days begin the day you establish your account. Wager must settle as a loss to qualify for Bonus Bets. Bonus Bets will equal the amount of the losing wager(s) (up to $100 in Bonus Bets per day) and expire 7 days from issuance. Bonus bets amounts are non-withdrawable and winnings exclude bonus bet stake. This offer is not available in New York. Add’l Terms apply – see Fanatics Sportsbook app. Gambling problem? Call 1-800-NEXT-STEP or text NEXTSTEP to 53342 (AZ), (888) 789-7777 or http://ccpg.org (CT), or 1-800-BETS-OFF (IA), or 1-800-9-WITH-IT (IN), or www.mdgamblinghelp.org (MD), or morethanagame.nc.gov (NC), or 1800gambler.net (WV). Data & text rates may apply. GAMBLING PROBLEM? Call 1-800-GAMBLER (CO/IL/KS/KY/MD/OH/MI/NC/PA/TN/VA/VT/WV), (800)-327-5050 or http://gamblinghelplinema.org (MA), Call (877-8-HOPENY) or text HOPENY (467369) (NY)

Bet $5, Get $150 If Your Bet Wins
No code required
Claim bonus

21+ only (18+ DC/KY/NH/WY). 21+ and present in DC, IA, KS, KY, LA, MD, MI, NJ, NY, TN, VA, or VT. (18+ DC/KY/NH/WY). Void in ONT/OR/NH and where prohibited. Eligibility restrictions apply. On behalf of Boot Hill Casino & Resort (KS). 1 per new customer. Min. $5 deposit. Min. $5 bet. Max. $150 issued as non-withdrawable Bonus Bets if your bet wins. Bonus Bets expire in 7 days (168 hours). Stake removed from payout. Terms: dkng.co/bball. Ends 1/5/25 at 11:59 PM ET. Sponsored by DraftKings. Please Gamble Responsibly. Call 888-789-7777/visit ccpg.org (CT), or visit www.mdgamblinghelp.org (MD). Data & text rates may apply. GAMBLING PROBLEM? CALL 1-800-GAMBLER, (800) 327-5050 or visit gamblinghelplinema.org (MA). Call 877-8-HOPENY/text HOPENY (467369) (NY).

Bet $5 & Get $150 In Bonus Bets
Claim bonus

21+ only (18+ in KY).  Offer available in AZ/IA/IN/KY/LA (select parishes)/NC/NJ/OH/VA. Void where prohibited. Available to new customers only. Must claim offer within 30 days following registration. Deposit $10+ and place $5+ qualifying bet. Bonus bets are non-withdrawable and the Bonus Bets wager excluded from returns. Bonus Bets expire after 7 days. Add’l terms and restriction apply see at bet365.com. The above bonus code can be used during registration but does not change the offer amount in any way. Data & text rates may apply. GAMBLING PROBLEM? CALL 1-800-GAMBLER (AZ, IN, KY, LA, NC, NJ, OH, VA) or 1-800-BETS OFF (IA).

Sportsbook promo codes & bonuses for November 2024

Sportsbook Welcome bonusPromo code
CaesarsUp to $1,000 back as a bonus bet if your first bet losesCBS1000
FanDuelBet $5, get $150 in bonus bets if your bet wins + 3 months of NBA League PassNo code required
BetMGMUp to $1,500 back in bonus bets if your first bet losesCBSSPORTS
DraftKingsBet $5, Get $150 If Your Bet Wins  No code required
bet365Bet $5, get $150 in bonus bets OR a First Bet Safety Net up to $1,000CBSBET365
FanaticsBet and get up to $1,000 in No Sweat BetsNo code required
BorgataBet $20, get $100 in bonus betsCBSSPORTS

Latest promos

Best sportsbook promotions: An in-depth breakdown

Let’s take a deeper look at each welcome bonus from our top sports betting sites.

Caesars Sportsbook

While many sportsbooks are currently running “bet and get” deals, Caesars Sportsbook takes a different approach. When you sign up with our promo code ‘CBS1000’, you will get up to $1,000 as a bonus bet.

Bet $1, Double Your Winnings Your Next 10 Bets
Up To $25 Max Bet Per Boost

Validated on: November 25, 2024

Claim bonus

Must be 21+ and physically present in AZ, CO, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, NJ, NY, NC, OH, PA, TN, VA, WV, WY or Washington, DC. New users only. Must register using eligible promo code. Min. qualifying bet amount: $1. Tokens max. bet amount: $25 per token. Tokens bet max. add’l winnings: $2,500 per token. Token(s) expire 14 days after receipt. Not reissued for voided/pushed bets. Void where prohibited. See Caesars.com/promos for full terms. Know When To Stop Before You Start®. Gambling Problem? CO, IL, KY, MD, MI, NJ, OH, TN, VA, WV, WY, Washington, D.C. (OLG Class A licensed Operator), KS (Affiliated with Kansas Crossing Casino), LA (Licensed through Horseshoe Bossier City and Caesars New Orleans), ME (Licensed through the Mi’kmaq Nation, Penobscot Nation, and Houlton Band of Maliseet Indians, federally recognized tribes located in the State of Maine), NC (Licensed through Tribal Casino Gaming Enterprise), PA (Affiliated with Harrah’s Philadelphia): If you or someone you know has a gambling problem, crisis counseling and referral services can be accessed by calling 1-800-GAMBLER (1-800-426-2537) or MD: visit mdgamblinghelp.org or WV: visit 1800gambler.net; AZ: Call 1-800-NEXT-STEP; IN: Call 1-800-9-WITH-IT; IA: Call 1-800-BETSOFF. Data & text rates may apply. Gambling Problem? Call 1-800-GAMBLER, MA: Call 1-800-327-5050 or visit gamblinghelplinema.org, NY: Call 877-8-HOPENY or text HOPENY (467369).

Validated on: November 25, 2024

The way you receive the bonus bet is simple: Place your first wager at Caesars Sportsbook. If the wager loses, you will get refunded in bonus bets equal to your wager amount. If your first bet wins, you get the winnings as normal and the bonus expires.

Let’s say you sign up and bet $500 on your favorite team and they lose. The Caesars welcome promo will give you $500 in bonus bets. You must use the bonus bets before they become withdrawable.

FanDuel Sportsbook

The FanDuel welcome bonus is quick and easy to claim. Sign up with our exclusive FanDuel link.

Bet $5 Get $150 In Bonus Bets If Your First Bet Wins
+ 3 Free Months Of NBA League Pass
NO Code Required Claim bonus

21+ (18+ D.C.) and present in AZ, CO, CT, DC, IA, IL IN, KS (in affiliation with Kansas Star Casino), KY, LA (excluding certain perishes), MA, MD, MI, NC, NJ, NY, OH, PA, TN, VA, VT, WV, or WY. Void where prohibited. First online real money wager only. $5 first deposit required. Bonus issued as nonwithdrawable bonus bets that expire 7 days after receipt. After 3 months free trial, the full price of League Pass will be automatically charged monthly; cancel anytime. NBA League Pass – local blackout restrictions appply. No refunds. Terms, restrictions, and embargoes apply. Limit 1 pass per customer. See terms at sportsbook.fanduel.com. Data & text rates may apply. Gambling Problem? Call 1-800-GAMBLER or visit RG-help.com. Call 1-888-789-7777 or visit ccpg.org/chat (CT). Hope is here. GamblingHelpLineMA.org or call (800) 327-5050 for 24/7 support (MA). Visit www.mdgamblinghelp.org (MD). Call 1-877-8HOPE-NY or text HOPENY (467369) (NY).

There’s no FanDuel promo code required to claim the bonus. Opt in for the bonus from the Promotions page after you’ve signed up, then make a deposit and place your first bet.

The first bet must be $5 or more to get the bonus.

After you place your qualifying bet at any betting odds, you’re all set; FanDuel Sportsbook will give you $150 in bonus bets if your first bet wins. Plus, new users can get three free months of NBA League Pass.

BetMGM Sportsbook

Currently, BetMGM Sportsbook has the best first bet insurance offer of any sportsbook. Sign up, use our promo code ‘CBSSPORTS’ and make your initial deposit. From there, choose your first bet carefully. If it loses, you will be refunded in the form of bonus bets up to $1,500 maximum.

Up To $1,500 In Bonus Bets
If Your First Bet Loses

Validated on: November 25, 2024

Claim bonus

21+ only. First Bet Offer for new customers only. Min. first deposit of $10. Subject to eligibility requirements. Rewards are non-withdrawable bonus bets that expire in 7 days. Bonus bets amount equals lost stake up to $1500. Must be physically located in NC, NJ, IN, WV, DC, CO, PA, MI, IA, AZ, LA, TN, IL, VA, MD, MS, WY, MA, KS, OH, or KY. Void where prohibited. In partnership with Kansas Crossing Casino and Hotel. See BetMGM.com for Terms. US promotional offers not available in Mississippi, New York, Nevada, Ontario, or Puerto Rico. Please Gamble Responsibly. Call 1-800-NEXT-STEP or text NEXTSTEP to 53342 (AZ), 1-800-BETS-OFF (IA), 1-800-981-0023 (PR). Data & text rates may apply. Gambling problem? Call 1-800-GAMBLER (Available in the US) Call 877-8-HOPENY or text HOPENY (467369) (NY) Call 1-800-327-5050 (MA).

Validated on: November 25, 2024

If you were to bet $1,000 and lose, you’d get $1,000 in bonus bets.

You can bet more than $1,500, but that’s still the maximum you’ll receive.

The one catch here is that winning bets effectively void the bonus. It’s not all bad, though, because a winning bet means you collect the profits and your initial stake anyway.

bet365 Sportsbook

The bet365 Sportsbook lives up to its name by offering a sportsbook bonus that’s excellent every day of the year.

Bet $5 & Get $150
In Bonus Bets

Validated on: November 25, 2024

Claim bonus

21+ only (18+ in KY).  Offer available in AZ/IA/IN/KY/LA (select parishes)/NC/NJ/OH/VA. Void where prohibited. Available to new customers only. Must claim offer within 30 days following registration. Deposit $10+ and place $5+ qualifying bet. Bonus bets are non-withdrawable and the Bonus Bets wager excluded from returns. Bonus Bets expire after 7 days. Add’l terms and restriction apply see at bet365.com. The above bonus code can be used during registration but does not change the offer amount in any way. Data & text rates may apply. GAMBLING PROBLEM? CALL 1-800-GAMBLER (AZ, IN, KY, LA, NC, NJ, OH, VA) or 1-800-BETS OFF (IA).

Validated on: November 25, 2024

When you sign up for bet365 using our exclusive link, you will get $200 in bonus bets after placing an initial wager of $5 or more. Make sure to enter our promo code ‘CBSBET365’.

Like the other bet and get bonuses on this list, bet365 requires your first bet to be of $5 or more (cumulatively betting $5 or more won’t work). Keep that in mind as you prepare to place your bets and claim the bonus.

DraftKings Sportsbook

DraftKings is offering a “Bet and Get” welcome bonus. It’s a popular welcome bonus structure where you need to place a relatively small bet to receive bonus bets in turn. That’s the welcome bonus DraftKings is currently offering.

Bet $5, Get $150
If Your Bet Wins
NO Code Required Claim bonus

21+ only (18+ DC/KY/NH/WY). 21+ and present in DC, IA, KS, KY, LA, MD, MI, NJ, NY, TN, VA, or VT. (18+ DC/KY/NH/WY). Void in ONT/OR/NH and where prohibited. Eligibility restrictions apply. On behalf of Boot Hill Casino & Resort (KS). 1 per new customer. Min. $5 deposit. Min. $5 bet. Max. $150 issued as non-withdrawable Bonus Bets if your bet wins. Bonus Bets expire in 7 days (168 hours). Stake removed from payout. Terms: dkng.co/bball. Ends 1/5/25 at 11:59 PM ET. Sponsored by DraftKings. Please Gamble Responsibly. Call 888-789-7777/visit ccpg.org (CT), or visit www.mdgamblinghelp.org (MD). Data & text rates may apply. GAMBLING PROBLEM? CALL 1-800-GAMBLER, (800) 327-5050 or visit gamblinghelplinema.org (MA). Call 877-8-HOPENY/text HOPENY (467369) (NY).

At DraftKings Sportsbook, you can bet $5 and get $150 in bonus bets if your first bet wins.

All you need to do is deposit $5+ and make a minimum bet of $5. You can make your bet on any sportsbook market you’d like, and if your bet wins, you’ll receive $150 in bonus bets.

Fanatics Sportsbook

Fanatics Sportsbook is one of the new kids on the block, and it’s making that status known by offering a unique welcome bonus. When you join with our exclusive links, Fanatics will offer you up to $1,000 in No Sweat Bets. New Yorkers will get a “bet $5, get $50 in bonus bets” welcome offer.

Bet And Get Up To $1000
In No Sweat Bets
NO Code Required Claim bonus

Must be 21+. New customers in AZ, CO, CT, DC, IA, IL, IN, KS, KY, LA, MA, MD, MI, NC, NJ, OH, PA, TN, VT, VA, WV, or WY only. Void where prohibited. Must apply this promotion in your bet slip and place a $1+ cash wager with odds of – 500 or longer each day for 10 straight days.Your 10 days begin the day you establish your account. Wager must settle as a loss to qualify for Bonus Bets. Bonus Bets will equal the amount of the losing wager(s) (up to $100 in Bonus Bets per day) and expire 7 days from issuance. Bonus bets amounts are non-withdrawable and winnings exclude bonus bet stake. This offer is not available in New York. Add’l Terms apply – see Fanatics Sportsbook app. Gambling problem? Call 1-800-NEXT-STEP or text NEXTSTEP to 53342 (AZ), (888) 789-7777 or http://ccpg.org (CT), or 1-800-BETS-OFF (IA), or 1-800-9-WITH-IT (IN), or www.mdgamblinghelp.org (MD), or morethanagame.nc.gov (NC), or 1800gambler.net (WV). Data & text rates may apply. GAMBLING PROBLEM? Call 1-800-GAMBLER (CO/IL/KS/KY/MD/OH/MI/NC/PA/TN/VA/VT/WV), (800)-327-5050 or http://gamblinghelplinema.org (MA), Call (877-8-HOPENY) or text HOPENY (467369) (NY)

This bonus from Fanatics comes in the form of 10 individual No Sweat Bets up to $100 each. They’re available on a once-daily basis for your first 10 days with an account.

In other words, you can claim a 100% No Sweat Bet match up to $100 on day one, then again on day two, and so on until day 10.

Borgata Sportsbook

And finally, we come to Borgata Sportsbook. This is a niche sportsbook promotion mainly because Borgata is only available in New Jersey.

Bet $20, Get $100
In Bonus Bets

Validated on: November 25, 2024

Claim bonus

Visit BorgataOnline.com for Terms and Conditions. Must be 21+. NJ only. Void where prohibited. New Customer Offer. First bet must be made with min. odds of -200. All promotions are subject to qualification and eligibility requirements. Rewards issued as non-withdrawable bonus bets or site credit. Bonus bets expire in 7 days from issuance. Data & text rates may apply. Gambling Problem? Call 1-800-GAMBLER.

Validated on: November 25, 2024

Even so, the Borgata sportsbook welcome bonus is worth a look. It doesn’t require a welcome bonus, and it gives you $100 in bonus bets after you place a qualifying first wager of $20 or more.

How do you claim the bonus?

To claim your bonus at a sportsbook, follow these simple steps:

  1. Use our links to head to your preferred sportsbook(s).
  2. Click register, join or similar.
  3. If necessary, select your state from a drop-down menu.
  4. Provide all the required details: name, date of birth, address, email, phone number, ID, SSN, etc.
  5. If prompted, enter a sportsbook promo code.
  6. Verify your email or phone number with a link or code if the sportsbook requires it.
  7. Deposit into your account, keeping your welcome bonus in mind when you do so.
  8. Place your first bet; make sure it meets the minimum required for your bonus, if applicable.

That’s it; you should receive your bonus in accordance with the sportsbook’s terms and conditions once you complete those steps.

Types of welcome bonuses

Sportsbooks are known to rotate welcome bonuses from time to time, resulting in a few different types of offers. Here are the primary welcome bonus types you can expect from online sportsbooks. 

No deposit bonus

No deposit bonuses are exactly what they sound like. Some sportsbooks will give you a bit of betting credit or bonus bets just for signing up—no deposit required. The amount is usually small-ish, between $20 and $50 in credit, and it’s often paired with another bonus type.

You’re more likely to find no deposit bonuses at online casinos these days, but they pop up at online sportsbooks from time to time as well.

Deposit match bonus

Deposit match bonuses were once the most common sports betting welcome promo. Now, they’re a bit rarer. The idea is simple: A sportsbook will match your deposit up to a certain maximum. For example, DraftKings has been known to offer a 20% first deposit match up to $1,000, so a $100 first deposit would get you $20 in credit.

Bet And Get Up To $1000
In No Sweat Bets
NO Code Required Claim bonus

Must be 21+. New customers in AZ, CO, CT, DC, IA, IL, IN, KS, KY, LA, MA, MD, MI, NC, NJ, OH, PA, TN, VT, VA, WV, or WY only. Void where prohibited. Must apply this promotion in your bet slip and place a $1+ cash wager with odds of – 500 or longer each day for 10 straight days.Your 10 days begin the day you establish your account. Wager must settle as a loss to qualify for Bonus Bets. Bonus Bets will equal the amount of the losing wager(s) (up to $100 in Bonus Bets per day) and expire 7 days from issuance. Bonus bets amounts are non-withdrawable and winnings exclude bonus bet stake. This offer is not available in New York. Add’l Terms apply – see Fanatics Sportsbook app. Gambling problem? Call 1-800-NEXT-STEP or text NEXTSTEP to 53342 (AZ), (888) 789-7777 or http://ccpg.org (CT), or 1-800-BETS-OFF (IA), or 1-800-9-WITH-IT (IN), or www.mdgamblinghelp.org (MD), or morethanagame.nc.gov (NC), or 1800gambler.net (WV). Data & text rates may apply. GAMBLING PROBLEM? Call 1-800-GAMBLER (CO/IL/KS/KY/MD/OH/MI/NC/PA/TN/VA/VT/WV), (800)-327-5050 or http://gamblinghelplinema.org (MA), Call (877-8-HOPENY) or text HOPENY (467369) (NY)

Bet and get bonus

Place a qualifying bet to get some bonus credits. That’s how bet and get bonuses tend to work, and they are increasingly common at online sports betting sites. In most cases, the qualifying bet must be at least $5, though some sportsbooks require a higher wager. Usually, the bonus bets are given even if your initial eligible bet loses. 

First bet insurance

With first bet insurance or a second chance bet (two different names for the same thing), you get refunded in bonus bets if your first wager loses.

For example, with BetMGM’s bonus, you can get up to $1,500 back on a first loss. If you wagered $500 and lost at BetMGM, you would get $500 in bonus bets, and the bonus would end.

Up To $1,500 In Bonus Bets
If Your First Bet Loses

Validated on: November 25, 2024

Claim bonus

21+ only. First Bet Offer for new customers only. Min. first deposit of $10. Subject to eligibility requirements. Rewards are non-withdrawable bonus bets that expire in 7 days. Bonus bets amount equals lost stake up to $1500. Must be physically located in NC, NJ, IN, WV, DC, CO, PA, MI, IA, AZ, LA, TN, IL, VA, MD, MS, WY, MA, KS, OH, or KY. Void where prohibited. In partnership with Kansas Crossing Casino and Hotel. See BetMGM.com for Terms. US promotional offers not available in Mississippi, New York, Nevada, Ontario, or Puerto Rico. Please Gamble Responsibly. Call 1-800-NEXT-STEP or text NEXTSTEP to 53342 (AZ), 1-800-BETS-OFF (IA), 1-800-981-0023 (PR). Data & text rates may apply. Gambling problem? Call 1-800-GAMBLER (Available in the US) Call 877-8-HOPENY or text HOPENY (467369) (NY) Call 1-800-327-5050 (MA).

Validated on: November 25, 2024

Other types of bonuses

Bonuses aren’t relegated to new users only. Plenty of options are available for players with existing accounts at an online sportsbook. Below, we highlight a handful of the most common ongoing promotions. 

Odds boost

As the name implies, boost the odds of a particular bet. Sportsbooks will sometimes offer boosted odds on a specific line or market, giving you a higher possible payout.

For example, you might see odds for Zay Flowers and Lamar Jackson to connect for two touchdowns boosted from +150 to +200.

Profit boost

Profit boosts are similar to odds boosts, but they offer more flexibility. A profit boost can typically be applied to any bet you wish (as long as it’s within the terms and conditions of the promo). The profit boost will up your potential profit by the promised percentage. 

SGP or parlay insurance

Parlay insurance usually requires opt-in and placing a qualifying parlay. For example, some sportsbooks might stipulate you need to place a 4-leg parlay (or more). With parlay insurance, you have a chance to get your wager amount back (up to a listed maximum) if your parlay misses by exactly one leg. 

Referral bonus

If you have friends who haven’t signed up for a sportsbook, chances are you can refer them and get credits for it. Most sportsbooks have some form of referral bonus, usually to the tune of $50 in bonus credits, sometimes more. Your friend must sign up with your link or exclusive code, then make qualifying deposits and bets in line with the bonus’ terms and conditions. 

General sportsbook terms and conditions

Every promotion, whether it’s a welcome bonus or an offer for existing players, has terms and conditions. Be sure to read the detailed terms of any bonus before you claim it. A few commonalities can be found across most promotions, including these:

  • Playthrough requirement: Many bonuses require you to play through your bonus credits a certain number of times before you can withdraw them. The lower the requirement, the easier the bonus is to claim. 
  • Deadline: Bonuses might stipulate that you have to claim them within a certain time frame after signing up. For example, you may need to claim your bonus and make eligible deposits and wagers within seven days of creating your account. 
  • Bonus expiration: Once the bonus is claimed and you’ve received credits, they often expire after a certain amount of time. Usually, the timeframe is seven days, 14 days or 30 days. Use your bonus bets or credits before the deadline. 
  • How bonus bets work: When you bet with bonus bets and win, you will only receive the winnings and not the original bet amount. This is different from real money bets, which return your original stake and the winnings. 

FAQ

What are the most common sportsbook bonuses?

Sportsbooks are most commonly known to offer bet and get bonuses, first bet insurance and deposit matches. The occasional no deposit bonus is also available, but it is fairly rare. 

What is the best welcome bonus at a sportsbook?

This depends on the type of bonus you prefer. BetMGM has the best first bet insurance offer, while DraftKings has the strongest bet and get bonus. 

Are sportsbook bonuses worth it?

Yes. Sports betting bonuses can give you a lot of value for a fairly low upfront investment. We highly recommend claiming a bonus when you sign up for a sportsbook account. 

Can you claim more than one sportsbook bonus?

Yes, but not from the same sportsbook. In other words, you can sign up for different sportsbooks and claim the welcome bonus from each one. 

What are bonus bets?

Bonus bets are credits given out as part of sports betting promotions. They are essentially non-withdrawable betting credits you can use to place wagers. 

What is first bet insurance? 

First bet insurance, sometimes called a second-chance bet, is a bonus type that refunds your first wager if it results in a loss. The refund has a maximum, and it comes in the form of bonus bets. 

Which sportsbook has the best bet and get welcome bonus?

FanDuel and DraftKings have the best bet and get welcome bonus.

What are the best sportsbook promotions for existing bettors?

There are plenty of promotions for existing users, so it comes down to preference. We like parlay insurance and early payout promos best. 

Do you need a promo code for a sportsbook bonus?

Depends on the sportsbook. Some sportsbooks require a promo code while others simply need you to opt in for a bonus.