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 promo codes for sportsbook apps.
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.
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.
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.
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.
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.
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enable players to place wagers like normal, with the caveat that their bonus will need to be wagered before it can be withdrawn.
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.
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.
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.
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.
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.
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.
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.
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 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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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 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 offers issued in site credit.
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.
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:
A bonus bet is a special promotion offered by a sportsbook that allows players to wager on eligible markets without using real cash. In order to claim them, users will typically need to deposit and place an initial wager.
A bonus bet works in the same way as betting with real money, with the notable caveat that you'll only receive the profits from your wager and not the bonus stake. As such, it's worth learning how to lay bonus bets to maximize your profits.
There are many ways to claim a bonus bet. Some are issued on sign-up with no deposit necessary, while others require an initial qualifying wager to be placed. Whatever the conditions, once they've been met, your bonus bet/s will be added to your account.
Bonus bets are worth slightly less than other types of offer because players typically won't receive their bonus stake back when their bet comes in. As such, only the profits from their bet will be added to their balance, making the overall return a little smaller.
Bonus bets are essentially tokens that have no actual cash value and can only be used to place wagers. Bonus cash, meanwhile, is yours to do whatever you please with, but will typically need to be wagered a certain amount of times before it can be withdrawn.
The best bonus bet site for no deposit offers is currently BetMGM, which offers a free $25 in site credit from the moment players sign up. As with other site credit offers, this must be rolled over before it can be withdrawn as real cash.
No. Bonus bets are used purely for wagering and have no actual cash value. Once a bonus bet has been used, however, if your wager is successful, you'll be able to withdraw the profits as cash providing there are no wagering requirements attached.
Players can use bonus bets in much the same way that they would their real cash balance, providing they adhere to the minimum odds requirements. If their bet is unsuccessful, the loss is effectively on the house, while if it wins, they'll be able to withdraw the profits.
Yes. Bonus bets enable players to increase their bankroll without risking their own cash. The best way to convert bonus bets is often to complete their rollover requirement at shorter odds, where the profits will be reduced, but the risk is also much lower too.
If you're looking for the best bonus bets app or website, your first port of call should be Gambling.com's in-depth reviews. Here, we compare all of the latest offers and as well as conditions to identify the promos that will offer players the best overall value.
"Duncan Wilkie is an award-winning writer and editor with more than 10 years of experience in the iGaming industry. He graduated in 2006 with a 1st Class Honors degree in Sports Journalism. He was a staff writer and editor at WPT Poker Magazine. He has since contributed to publications such as Poker Player, Bluff and Gambling Insider and a four-year stint working as Copy Team Lead for Entain."
Reviewer since August 2021