Sportsbook Promos
What Are Sportsbook Bonuses and How Do They Work?
Written by: Eddie Griffin
Last Updated:
Read Time: 7 minutes
Sportsbook bonuses or rewards are often designed to give you more money to wager with and, like the loyalty program at your favorite store or coffee shop, keep you coming back in the future.
With so many sports betting sites to choose from, picking which ones you should bet at is not easy.
We highly recommend having multiple options, also known as “outs,” as it is good to be able to shop around for the best possible odds.
But whether it is deciding which two or three sportsbooks you use primarily or the one that you use the most out of that bunch, the type of bonuses or rewards that are offered can be a deciding factor.
But what kind of bonuses and perks are there to choose from?
What Are the Different Types of Sportsbook Bonuses?
Bonuses are the most popular type of promotional offering sportsbooks provide.
These are the types of bonuses you will find. Every sportsbook doesn’t offer the same bonuses, so when choosing which sportsbook(s) you want to roll with, you might want to pick the book that either has the most variety or the best possible incentives.
Bonuses can be broken down into welcome bonuses, which are bonuses you receive at the outset, and reload bonuses, which you receive on deposits that follow.
Welcome Bonuses
Typically, the biggest sportsbook bonuses are welcome bonuses, which you can receive upon signing up and making your first deposit with a sportsbook.
Welcome bonuses can come in a number of ways, such as cash that gets added to your deposit amount, freeplays/free bets, or risk-free bets.
Reload Bonus
If you decide to make future deposits at a sportsbook, you can receive reload bonuses for each deposit that you make.
As with welcome bonuses, reload bonuses can come as cash bonuses, freeplays/free bets, or risk-free bets. Reload bonuses are typically not as good as welcome bonuses, but many sportsbooks offer reload bonuses that are worth your while.
What are the types of welcome bonuses and reload bonuses you can receive?
Types of Sportsbook Welcome and Reload Bonuses
Cash Bonuses
For example, a sportsbook can offer you a 100 percent cash bonus on your first deposit.
That means that if you deposit $500, you will get an addition $500 to bet with on top of your $500 deposit.
Freeplays/Free Bets
Freeplays and free bets differ from cash bonuses in that they are not added directly to your deposit amount.
While winnings can be added to your cash balance, the wagers that you make with your freeplay or free bet are not deducted from your cash balance.
A freeplay can be a percentage of the amount that you deposit. For example, if you receive a 50 percent free play on your deposit, that means that if you deposit $500, you will receive a $250 freeplay.
Free bets are typically more event specific. For example, you may decide to take advantage of a $50 free bet specifically to use on the Super Bowl or on any college basketball game.
Other Ways to Score Free Sportsbook Cash
Risk-Free Bets
Risk-free bets allow you to recoup all or some of your money if your first bet loses. That can give you something to fall back on for your first bet.
That doesn’t mean you should go wild and bet something with long odds just because you know you are going to get your money back if it loses, but a risk-free bet does give you the freedom to take such a chance if you want.
Match Bet
A match bet requires you to make a wager of a certain amount, at which point the site doubles your action.
As an example, you may use a Match Bet in your account to bet $25 on the Kansas City Chiefs, with the site doubling your bet to $50. If you win, you will receive your winnings, but if you lose then only $25 would come out of your account.
Which Sportsbooks Have the Best Bonuses?
Now that you know about the different types of sportsbook bonuses, you might be interested in knowing where you can find the best bonuses.
The below sites offer fantastic welcome bonuses for new players, and they also offer great reload bonuses as well.
Keep in mind that bonuses can change on a regular basis. To keep up with the latest and greatest bonuses, check out our sportsbook offers page.
Other Types of Sportsbook Rewards
Loyalty Points & Programs
In addition to bonuses, many sports betting sites also have loyalty and VIP programs that entice bettors to keep coming back.
The types of sportsbook loyalty programs and rewards offered can vary. Some sportsbooks offer points or cash back that can accrue over time. Others offer perks like free bets, contest entries, special bonuses, and more.
It is important to read the terms and conditions for these types of programs. If you have points that you can accrue, those points may expire after a certain amount of time, so that is something you need to know in advance.
Many sportsbooks offer birthday or holiday-related perks as part of their loyalty programs. Such perks also often happen for major events and times on the sports calendar, such as the Super Bowl, start of the NFL season, or March Madness, for example.
So, make sure to keep an eye out around your birthday, major holidays like Christmas and Thanksgiving, and major events.
Again, every sportsbook isn’t the same, which is another reason why it is good to have multiple outs. That way, you can take advantage of the cash back one sportsbook offers while building up your points balance at another.
Free Spins & Casino Bonuses
In addition to sports betting bonuses, many sportsbooks offer casino bonuses or free spins for their casino games.
Many people who like to bet on sports also like to play online casino games, like blackjack and online slots. So, these kinds of bonuses can be enticing. And if you are able to turn your casino bonuses or free spins into winnings, that can mean some extra money for your sports betting endeavors.
Contest Entries
Many sportsbooks offer contests throughout the year that you can receive extra entries as an incentive when you make an initial or reload deposit.
Dos and Don’ts for Sportsbook Bonuses and Rewards
Keep Track of Rollover
With many cash bonuses and freeplays, there can be an amount that you must wager before you are able to withdraw.
If your sportsbook doesn’t have a rollover counter to help you keep up with how close or far you are from successfully completing your rollover amount, you can contact customer service to get rollover updates or log your wagers and keep track of the information yourself.
Read the Fine Print for Sportsbook Bonuses
Always pay attention to the terms involved with any bonus, free bet, or reward program. Sometimes different sportsbooks can offer similar promos but have different terms for them, and knowing what you are getting into ahead of time can spare you from future regret or frustration.
And if there is something that you don’t quite understand about the requirements or rules for a promo or program, ask and ensure that you keep a record of any communication for any potential disputes or issues that can occur.
Always Keep an Eye on the Calendar
As noted above, holidays and major sporting events are always popular times for special sportsbook promos.
And just as many of your favorite stores or restaurants offer birthday rewards, so do many sportsbooks.
Other Sports Betting Information
Did you find our guide to sportsbook bonuses helpful? Along with the daily sports betting news and views we offer, we also provide many guides that break down the basics of sports betting. That includes how to bet on specific sports, leagues, and events, types of bets (such as prop bets or futures bets), betting strategies and terms, and more.
Here are some of the other betting guides you can find at Betting News:
- NFL Betting Guide
- NBA Betting Guide
- MLB Betting Guide
- NHL Betting Guide
- College Football Betting Guide
- College Basketball Betting Guide
- WNBA Betting Guide
- NASCAR Betting Guide
- Super Bowl Betting Guide
- Over/Under Betting Explained
- When Should You Hedge Your Bets?
- How to Read Sports Betting Odds
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