Best Bonus Bets and No Deposit Offers for April 2024

Author Image Reviewed By Duncan Wilkie GDC - Icon - Black - Info
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  1. Only US Sportsbook with NFL Streaming
    Caesars Rewards Redeemable at Ceasars Locations
    Improved Odds for NY Mets & Chicago White Sox
    Promo Code
    Tooltip The code required to claim this sign-up bonus (if any)
    GAMBLING1000
    Live Streaming
    Tooltip Is there live streaming of sporting events?
    Yes
    In-Play Betting
    Tooltip The number of sports with in-play betting available
    14
    Bet Builder
    Tooltip Can you create your own personalised bets?
    Yes
    Cash Out
    Tooltip Can you cash out of bets before an event has finished?
    Yes
    Risk Free Bet
    Yes
    Backed by Caesars Entertainment, the sportsbook provides real-life loyalty rewards for bettors bringing the Las Vegas feel to you. Between Live Streaming, Generous Welcome Offer, & Daily Boosted Parlays, you'll find yourself very busy on the Caesars Sportsbook App.
  2. 4
    Hard Rock Bet Sports
    Established 2018
    More Details Hide Details
  3. 5
    DraftKings Sports
    Established 2012
    More Details Hide Details
  4. 7
    BetRivers Sports
    Established 2020
    More Details Hide Details
  5. 8
    FanDuel Sports
    Established 2009
    More Details Hide Details
  6. 9
    Fanatics Sport
    Established 2022
    More Details Hide Details

Latest US Gambling Promotions

Bonus Bet Promotions Compared

No matter what sportsbook brand they play at, new users will usually be able to get started with a bonus offer. The table below includes all the latest sportsbook promos.

 

Bonus Bet SiteBonus Bet OfferEligible StatesHow to Claim
💰 BetMGMUp to $1,000 in site creditsAZ, CO, IA, NJ, IN, PA, LA, WV, TN, VA, MI and ILGAMBLINGCOM
💰 CaesarsUp to $1,250 in bonus creditsNY, PA, AZ, IL, LA, NJ, CO, MI, IN, IA, TN, VA, WY and WVGAMBLINGFULL
💰 DraftKingsUp to $200 in bonus betsAZ, CO, CT, IL, IN, IA, LA, MI, NH, NJ, NY, OR, PA, TN, VA, WV and WYCLAIM HERE
💰 FanDuelBonus bet up to $3,000NY, LA, IL, CT, MI, NJ, WV, CO, AZ, PA, IA, TN, VA, IN, WY, KS, AR, MD, OHCLAIM HERE
💰 BetriversBonus bet up to $500CO, IL, IN, IA, LA, MI, NJ, NY, PA, VA and WVCLAIM HERE
💰 PointsBet5x betting bonuses up to $250CO, IL, LA, IN, IA, MI, NJ, NY, PA, VA and WVCLAIM HERE
💰 UnibetBonus bet up to $500PAGAMBLE

Top Bonus Betting Sites & Offers Explained

Choosing the best betting bonus bet offers is a matter of comparing the bonus amount against the wagering requirements. Here, we'll look at some of top welcome bonuses currently on offer.

 

Bonus Bets at Caesars Sportsbook

  • Offer: Up to $1,250 in bonus credits
  • Code: GAMBLINGFULL
  • Best For: New customers and loyalty reward progress

The welcome offer on the Caesars Sportsbook App is up to $1,250 in bonus credit if your first bet loses. To claim it, players simply have to use the code above and wager a minimum of $10. This bonus has no rollover requirements and players will also receive 1,000 rewards credits.

 

Bonus Bets at DraftKings Sportsbook

  • Offer: Bonus up to $200
  • Code: NONE - GET HERE
  • Best For: Maximizing your first deposit

On the DraftKings sportsbook App, new users can claim up to $200 in site credits after they place $5 on any market. The bonus amount must be wagered on any eligible DraftKings Sportsbook markets and expire in 7 days after being rewarded.

 

Bonus Bets at BetMGM Sportsbook

  • Offer: Up to $1,000 in bet credit
  • Code: GAMBLINGCOM
  • Best For: Increasing the expected value of your first bet

The bonus bet promo at BetMGM sportsbook app issues up to $1,000 in bet credit if your first wager loses. If your bet wins, all's good and well, but if it's unsuccessful, your initial wager will be matched 100% allowing you to place multiple wagers using site credits thereafter.

 

Bonus Bets at FanDuel Sportsbook

  • Offer: Up to $3,000 in bonus credits
  • Code: NONE
  • Best For: Highest expected value from your initial stake

The FanDuel sportsbook app offers undoubtedly one of the best bonus bet promotions around, giving players up to $3,000 in bet credit to use on the site. Providing they deposit $10 or more, the value of their initial wager will be matched in credits that have no wagering requirements.

What are Bonus Bets?

Bonus bets enable players to place wagers using site credits rather than their own money. As such, they're a handy way to preserve your bankroll at an online sportsbook providing you use the bets within a certain timeframe.

Typically issued if their first wager is unsuccessful, bonus bets may be restricted to a certain sports market and will often award profits while forfeiting the bonus bet amount. Site credit is more flexible and will enable players to place wagers like normal, with the caveat that their bonus will need to be wagered before it can be withdrawn.

Disclaimer:

Bonus bets, site credit and similar offers are not risk-free. As even no deposit bonus betting typically requires you to complete certain bonus bet conditions before your profits can be redeemed as cash, players are advised to always read the promotion's terms before claiming.

How Bonus Bets Work

A sign-up bonus bet is the most common offer available to new customers. To use this kind of bonus, players will usually have to make a deposit and place a qualifying wager.

Should their bet lose, they'll receive the value of their wager back in bonus credits. These credits can then be used in place of cash on eligible markets within a set timeframe. The rewards from bonus bets are typically limited to the profits of their wager, with the initial stake being forfeited. Additionally, rollover requirements may also need to be completed.

 

Example:

 


Types of Betting Bonus Bets

There are many types of bonus bet deals available to both new and existing users. The next section of our review will take a closer look at some of the most common rewards on offers.

No Deposit Bonus Bet

Many of the best bonus bet sites offer no deposit bonuses to new customers. Available from the moment they sign up, this type of offer will instantly add site credits to customers' balances, with certain wagering restrictions needing to be met before they can be withdrawn.

 

First Deposit Bonus Bet

The best signup bonus bets usually come when you make your first deposit. In order to claim this type of offer, players may have to use special bonus bet promo codes while setting up their account, but they'll then receive site credit or bonus bets to use on selected markets.

 

Bonus Bets for Existing Customers

From time to time, online betting bonus bets will be available when making deposits beyond the initial top-up. As with sign-up promotions, these offers typically require the use of bonus bet codes and will have certain restrictions attached to them in terms of eligible odds/markets.

 

Bet Refunds

Many of the best online bonus bets are issued in the form of bet refunds when customers' first wager loses. For this type of offer, an initial deposit and minimum wager are required, which - if unsuccessful - will be refunded in bonus bets which can be used to place multiple wagers.

 

Site Credit or Bonus Cash

The best betting bonus bets are often those that are issued in site credit or bonus cash. This is because unlike traditional bonus bets, they can be used on any market and broken up as users see fit, though they will still need to rollover any funds before they can be withdrawn as cash.

 

Bonus Bets for Events like Horse Racing or Football

Bonus bets for horse racing and NFL games are common whenever there's a major meet-up or event in progress. Often available at dedicated NFL sportsbooks and horse racing betting apps, bettors will typically have to deposit and wager on either sport to receive their bonus funds.

 


How to Get Bonus Bets

If players are wondering how to get a bonus bet, the good news is that the procedure is often simple. The next part of our review will consider the likely steps customers will need to follow.

  1. ✔️ Make a qualifying deposit and use a bonus bet code if required.
  2. ✔️ Deposit bonuses will typically be issued instantly as site credit.
  3. ✔️ Bonus bets, meanwhile, will only be available after your first wager.
  4. ✔️ For the latter type of offer, make sure you place a qualifying bet at eligible odds.
  5. ✔️ If your bet loses, you'll receive the amount back as bonus bets to use on the site.
  6. ✔️ When a bonus bet is successful, you'll typically only receive the profits and not the stake.

Where Can You See Sports Bonus Bets in Your Account?

Players will typically be able to view any bonus bets they've acquired alongside their regular balance on a sportsbook's homepage. Additionally, any available bonus bets should appear when they launch the betting slip, allowing them to toggle between site credit and real cash.

 


How to Use Bonus Bets

Theoretically, the best use of bonus bets is to wager at plus money, as the fact that the bonus stake is forfeited already eats into your overall returns. In reality, this is often a necessity as most sportsbooks won't let you use a bonus bet on a heavy favorite. That said, one of the best ways to maximize your returns for a bonus bet is to use a betting exchange to lay the outcome.

Using this method, you'll have to put up some of your own cash to cover the other side of your bonus bet by wagering on the opposite outcome, but the idea is that given one side of your bet is essentially free, you should be able to find an odds match that ensures a profit either way.

Bonus Bet Calculator

 

Bonus Bet AmountSportsbook OddsReturn
$100-200$150 - $100 = $50
$100+100$200 - $100 = $100
$100+200$300 - $100 = $200

 

As you can see from the table above, using bonus bets to wager on favorites will only ever return less than the value of the bonus bet itself.

As the bonus stake is forfeited (represented by the "-$100" amount here), it's not until we hit odds of +100 that we are able to realize the full value of the offer and we must go beyond that to increase it.

While we don't technically lose anything if our bet is unsuccessful, betting on favorites essentially makes our bonus bets worth less in theory, so should be avoided (where available) unless we want to lock-in a more likely smaller win.

How to Place a Bet with a Bonus Bet

  1. Find an eligible market and open your betting slip as normal.
  2. Rather than entering a cash amount, select the bonus bet you have available.
  3. Note that you can usually only use one bonus bet per wager.
  4. When you're satisfied with your selection, click the button to lock-in the bet.
  5. If your wager is successful, you'll receive the stated profits minus the bonus bet stake.

 

Betslip with Bonus Example

How to Withdraw Bonus Bets Offer Winnings

Once the profits from your bonus bet have been credited, you'll be able to withdraw them as cash providing there are no wagering requirements attached.

If wagering is necessary, you'll need to bet the amount a number of times before the restrictions are cleared. It is here that favorite betting becomes more viable, as you're not looking to maximize your profits, but rather wager your bonus while minimizing losses.

What if my Bonus Bet is Voided?

If your bonus bet is voided, the stake will typically be returned to your account once the market is settled so you can use it again. If your bonus bet results in a push, however, your stake will be forfeited and you will not receive any additional profits.

 


Bonus Bet Terms and Conditions

No matter what offer players claim, any bonus bets are likely to come with T&Cs attached. Below, we'll look at some of the most common restrictions so you know what to look out for.

 

Expiration Date on Bet Bonuses

Bonus bets are meant to encourage player activity and - as such - usually expire within a set timeframe. With this in mind, it's good to look for bonus bets that can be used via Android or iOS devices, as these won't require players to be sat at their computer by a particular deadline.

 

Making a Qualifying Bet

Bonus bets are usually contingent on players making a qualifying wager. Typically this will be at longer odds than they might normally choose so they actually have to risk something in order to claim them. Certain advanced bet types like round robins may not be eligible either.

 

Only Pay Non-Withdrawable Net Winnings

Typically, players only keep the profit from their bonus bet and not the initial stake itself. On top of this, any winnings issued may have turnover requirements attached, in which case, the full amount will need to be played through a set number of times before it can be withdrawn.

 

Bonus Bet Turnover Requirements

As touched on above, the profits from a bonus bet will often need to be played through before they can be withdrawn. If, for example, a players wins $100 and their bonus funds have 1x wagering, they'll need to bet that same $100 again in order for it to be converted to real cash.

 


 

Bonus Bet Turnover Explained

Bonus bet turnover is a way for operators to ensure players don't claim free cash and instantly leave the site.

By giving the profits of bonus bets wagering requirements, sportsbooks ensure customers have to put their bonus funds back into the system a number of times before they can be withdrawn as cash.

As any bet placed will incur a certain amount of risk, this means the initial "profit" can be substantially reduced before players can actually return it to their bank account. Fortunately, bonus bets typically only have 1-3x rollover requirements, which is far below the 25x range that players will typically find for sign-up Best online gambling offers issued in site credit.

The Best Way to Turnover Bonus Bets

If the best way to use bonus bets is to select markets with odds that offer the best expected value, it should naturally follow that the best way to turn them over is to reduce the risk.

As players' goal while turning over their bonus bet profits should be to protect them as much as possible rather than add to them, choosing low-risk, low-reward markets is often the safest way to ensure they end up with something to withdraw.

Unfortunately, most of the big sportsbook sites out there are wise to this fact and place minimum odds requirements on bonus turnover accordingly, but players should still focus on trying to find lower-variance bets when clearing their bonuses.

 


How to Make the Most of Bonus Bets

While many will flippantly see bonus bets as a free way to take an outlandish punt, as a sports bettor, your ultimate goal should always be to maximize profits. As such, it's important to see bonus bets as a way to enhance your bank roll and use them effectively. This requires initially picking a market that will allow you to realize the full value of your bonus bet, then pivoting to a more conservative approach when it comes to completing any turnover requirements.

 

Tips for Maximizing Value with Bonus Bets:

  1. Read our detailed site reviews to find the best betting app for bonus bets.
  2. Read the T&Cs and ensure you're able to meet any wagering requirements.
  3. Choose plus odds markets to realize the full value your bonus bets offer.
  4. Conversely, take the shortest odds possible while clearing bonus turnover.
  5. If you're a more advanced better who really wants to get the maximum return from your bonus bets, you may want to consider using money to lay them on a betting exchange.

FAQs

What is a bonus bet?

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How does a bonus bet work?

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How do I get my bonus bet?

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Are bonus bets worth less?

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What's the difference between bonus bet and bonus cash?

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Which betting sites give a bonus bet on registration without deposit?

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Can you cash out bonus bets?

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Updated by GDC - Icon - Black - Info

Duncan Wilkie

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