Best Sports Betting Bonuses: Top Sportsbook Promos
It’s the best time of year for sports fans to use a sports betting bonus. The NFL playoffs are approaching, the NBA and NHL seasons are reaching the midway point, and, for most leagues, conference play is about to begin in college basketball.
Best sports betting bonuses right now
 DraftKings |  FanDuel |  BetMGM |  Caesars |  Bet365 |  Fanatics |  BetRivers |
|
|---|---|---|---|---|---|---|---|
| Promo code (if needed) | None need; just click | None need; just click | PLAYUSA | BESTBONUS250BM | None needed; just click | None needed; just click | PLAYRIV |
| Welcome bonus/bonus bets | $5 bet unlocks $200 in bonus bets | Bet $5, get $250 in bonus bets if you win | Bet $10, get $150 in Bonus Bets if you win | First bet matched up to $250 as bonus bet if it loses | Place $5 bet and get $150 in bonus bets when bet settles. Also receive 10 Golden Chips. | Get up to a maximum of $2,000 in FanCash if 10 straight $200 bets lose over 10 days. | If first wager loses, get up to $250 second chance bet token. |
| Min deposit/Min bet | Deposit of $5, wager of $5 | Deposit of $5, bet of $5 | Deposit of $10 and initial wager of $10 | No deposit or wager minimum listed. | Deposit of at least $10 and wager of at least $5 | Each daily bet has to be at least $1, and initial deposit of $10. | Deposit of $10 and minimum bet of $1. |
| Key restrictions | Bets come as eight $25 wagers to use on any market. Bets expire after a week. | 7 days to use Bonus Bets, can’t be used on Round Robin and Your Way Wagers. | Qualifying wager must be made within 7 days. Bonus Bets come as three $50 wagers. | Bonus bet expires after 30 days and can’t be combined with profit boost token or bets with odds of -500 or shorter | Bet must contain at least one selection of -500 and expire after 7 days. | FanCash can be redeemed as bonus bets for future wagers. Must use app to claim. | Can’t use Second chance bet on House Specials and bonus bets have to be placed on any market with odds of -200 or longer. |
Sports betting promos can be confusing for new players. What betting promotions are the best? What’s the best sports betting sign-up bonus?
I’m here to lay it all out for you, explaining the Xs and Os of sportsbook bonus promos. I’ll start with a chart that outlines the important details, and then explain how each works, what the terms mean, and how you can maximize your sports betting bonuses. Note that PlayUSA will only ever promote legal US sportsbooks.
Types of sports betting bonuses explained
There are numerous terms and concepts to understand regarding how a sports betting bonus works. Let’s review and explain all the terms you will find.
Bonus bets
A bonus bet is a bet given by the online sportsbook that is funded by the sportsbook as credit in exchange for bets made using real money. For example, you win your first bet, unlocking $100 in bonus bets as a sports betting bonus. You don’t actually win $100. You earn $100 in sportsbook credit to bet with. When you use that $100 bonus bet, you only receive the profit that the bet makes in your account if you win. Let’s say you make that $100 bonus bet at -110 odds. The payout for that is $90.91. If the bet wins, you don’t now have $190.91 in your account, you have $90.91.
Bet & get promos
This is a type of sports betting bonus where you earn a particular reward for making a wager. Typically, it’s a bonus bet amount or a deposit match to a certain percentage. But the principal idea is that you wager a certain amount of your own money to receive a bonus. In some cases, the bonus is only obtained when your bet wins.
First-bet insurance/No Sweat Bet
Golfers call this a mulligan. In the sports betting bonus world, it’s a No Sweat Bet or a bet with insurance, which means if your bet using your real money loses, it’s refunded by the sportsbook as bonus credit (not real money), and you have a chance to earn real money a second time. Let’s say you make a $100 no sweat bet and it loses at -110 odds. Had you won, you’d have $190.91 in your account. But now you have $100 in bonus money to use. You can make a second bet using that $100 in bonus funds, and if you win that bet at -110 odds, you get all the sweet profit at $90.91.
Deposit match bonus
Another popular online sportsbook bonus is a deposit match. This is where the app will match your sportsbook deposit into your account up to a certain amount. Sometimes $500 for $500, or $1000 for $1000. Again, the sportsbook is not giving you real money as a bonus, but rather credit to use for making bets with your account. You’re only entitled to the money you profit from a bet made with deposit match funds. You’ll find deposit match bonuses across the online gambling world, including at online casinos.
Odds boosts & profit boosts
In order to goose betting on a specific market, another type of online sportsbook promo bonus is an odds boost or profit boost. The sportsbook will typically flash on the homepage that it has enhanced, or elevated the odds on a market, possibly a game outcome, or parlay, and is saying that any winning bet on that market will get an additional profit boost.
Parlay insurance & SGP promos
Parlays are one bet that combines multiple markets, or ‘legs’, like a point spread for one game, an over/under bet in another, an anytime scorer and a rushing total for an individual player. Parlays have amazing potential to be a big win, but every ‘leg’ of the bet must be successful to win. Online sportsbook promos now give parlay insurance, where they say that if you make a parlay bet and all but one of the legs is a winner, it comes back as a push, meaning you get your money back. SGP stands for Same Game Parlay. Online sportsbooks will offer promos, like profit boosts, when players make parlay bets all on the same game to encourage wagering on the game.
Reload promos, loyalty and refer-a-friend
It happens, you bust your account and want to add some more money. Many online sportsbooks give what is called a reload bonus, where they will match your deposit to a certain level as more bonus credit. Almost all online sportsbooks also have loyalty programs where you earn points and climb tiers to earn perks and credit for more free bets. Another bonus is the common refer-a-friend incentive. Sportsbooks will give you a link to share with a buddy for him/her to sign up with the sportsbook, and typically, after they make a deposit and wager a certain amount, you both get additional bonus funds.
How to claim a sports betting bonus
Signing up for a sports betting bonus is a straightforward process that can be completed using an internet-connected device or by visiting a retail sportsbook.
Find a legal sportsbook in your state.
Common examples include FanDuel and DraftKings.
Account registration.
Create your account by giving an email address, creating a password and verify your age and identity typically with your address and last four digits of your social security number.
Get your tech ready.
Make sure geolocation software is on your computer and enabled. If you’re on a phone and using a wifi signal or cell tower that also works.
Claim bonus offer.
Enter the promo code where directed.
Get your money on the app.
Make your first deposit and place the qualifying bet of the predetermined amount to qualify.
Collect bonus bets.
Receive the bonus bets in your account and check the expiration date. Bonus bets connected to a welcome offer are usually valid for a week.
Remember that sports betting should always be a fun activity that combines your passion for sports with an appreciation for entertainment. Never bet more than you can stand to lose, never chase winnings with more bets and get help if your sports betting habits spark concern among your family and friends. Sportsbooks also promote responsible gaming habits to help you set limits on your deposits and daily activities.
Best online sportsbook promos by sportsbook
Now we will go inside each online sportsbook bonus and explain how it works and who should use it.
DraftKings Sportsbook: Best bonus for beginners
Highlights: DraftKings offers one of the top sports betting promotions with a welcome bonus available to interested players, providing eight bonus bets valued at $25 each after an initial bet of $5.
These eight bonus bets must be used within the first seven days – the event doesn’t have to be within seven days, but you have to make the wager within the first week. Players must opt into DraftKings Sportsbook’s new bonus bets offer for new customers, and wagers must have a minimum odds of -500 (e.g., -250 and +140 are acceptable, but -700 is not).
Best For: Any avid sports fan looking to start their sports betting journey with an online sports betting bonus. Being locked in at $25 a bet is a little bit of a drag, but having the ability to make eight bets is a great bonus.
Key terms: Players only receive the profit from their bonus bets. In a standard real-money bet, if you bet $20 and won, doubling your money, you’d have $40 of withdrawable money. With this sportsbook bonus, if you use one of your $25 bonus bets and win, you only receive the profit, not the original stake in your account.
How to Claim: Plays must log into the DraftKings Sportsbook website or app, create an account, make their first bet of $5 or more, and opt in to the New Customer Bonus Bets option. Note that DraftKings is one of the leading sportsbooks in the new Missouri sports betting market.
- Don’t have to win initial bet to qualify for Bonus Bets.
- Only need $5 minimum bet to qualify.
- Locked in at $25 for bonus bets.
- Bets must be used within a week.
FanDuel Sportsbook: Best bonus for flexibility
Highlights: Collect $250 in bonus bets if an initial first bet of $5 on any market comes up a winner. The bonus bets are dropped into your account within 72 hours and can be used on any type of bet except for Round Robin and Your Way Wagers (where you adjust the odds). Bonus bets are valid for a week.
Best For: Lucky beginners, because you need to win that first bet to qualify, but after that, the FanDuel online sportsbook bonus gives great flexibility with the $250 available at your discretion.
Key terms: The bonus bets have a lifespan of seven days, but you’re not locked in to using the bonus money in any specific way. You can make 10 $25 bets, or one bet of $250 with your sportsbook bonus. Again, you only receive all profits from your bonus bets as withdrawable cash.
How to Claim: Sign up on the FanDuel Sportsbook website or app (the FanDuel Casino has a different app), establish your account, and make your first $5 bet to qualify.
- Great flexibility on how to use bonus bet amount.
- $250 is great nest egg to start.
- First bet has to win to receive bonus.
- Only seven days to use bonus bets.
Caesars Sportsbook: Best bonus for fast starters
Highlights: The Caesars sportsbook bonus gives new users a true second-chance bet worth up to $250. New players at Caesars have their first bet matched as a bonus bet up to $250 win or lose, giving them a second big bet to use on the online sportsbook. The bonus bet is awarded after the initial wager is placed and expires after 30 days.
Best For: Players ready to make a big opening bet.
Key terms: The bonus bet can’t be used along with a profit boost token, or with a Super Boost or with odds -500 or shorter. Players have 30 days to use bonus bet and are entitled only to the winnings associated with the bonus bet. For example, if your initial bet is $100, Caesars gives you a $100 bonus bet as a bonus. When you use that $100 bonus bet and it wins $150, your account will show $150, not $250.
How to Claim: Create a Caesars Sportsbook account on the app or the website, make an initial bet of your choosing. There is no minimum required. Collect a bonus bet up to $250 as a matching bet.
- 30 days to use bonus bet.
- Bonus match up to $250.
- Only one associated bonus bet in Caesars sportsbook bonus.
BetMGM Sportsbook: Best bonus for high rollers
Highlights: The BetMGM Sportbook bonus gives interested players $150 in bonus bets after a winning wager of at least $10. The bonus bets come as three $50 bets that can be used as one straight bet, one parley, or one SGP. The bonus bets must be used within seven days.
Best For: Players willing to make big bets.
Key terms: Your qualifying wager must be made within seven days of registration, and the bonus bets expire after seven days. Players only receive any profit made after winning one of the three bonus bets.
How to Claim: Join the crowd at BetMGM Sportsbook by downloading the app or clicking on the website, establishing your account, making your first bet, and automatically qualifying for the bonus.
- Only a $10 minimum first bet required
- Access to other BetMGM sportsbook promos like First or Second TD scorer.
- Bonus bets are locked in as three $50 wagers.
- Bonus bets have a shelf life of seven days.
Bet365 Sportsbook: Best bonus for casino integration
Highlights: The Bet365 sportsbook bonus comes with two distinct rewards. After a minimum $10 deposit, players get $150 in bonus bets when the bet settles, win or lose. The bet has to be at least $5. Players also get 10 Golden Chips, valued at $1 each, to use on PlayTech online casino games, like American Roulette and Live Baccarat.
Best For: Fans who want to mix their sportsbook bonus with an online casino bonus.
Key terms: Bet must contain at least one selection of -500 and can’t be used as wagers on profit boosts, bet boosts, super boosts or teasers.
How to Claim: Download the bet365 sportsbook app or head to the website and register your account. The bonus bets arrive after your bet settles.
- Golden Chips can be played at bet365 online casino.
- Bonus bets can be made at your discretion.
- Limits on bonus bet opportunities
Fanatics Sportsbook: Best bonus for heaters
Highlights: The Fanatics sportsbook bonus is slightly more complex than most online sportsbook promos. The welcome offer pays back up to $200 in FanCash a day for 10 days on individual bets made each day. If you lose all 10 $200 bets, you can get $2,000 in FanCash and apply that towards a future bet. The sportsbook only has an app, there is no website.
Best For: Players who are looking to go on a hot streak.
Key terms: Players have to make a minimum deposit of $10, and each daily bet must be at least $1 with odds of -500 or longer. The offer can also vary by state. FanCash can be converted into bonus bets for future wagers.
How to Claim: Log onto the Fanatics Sportsbook app (there is no website) and create your Fanatics account. Opt into the promotion each day for the first 10 days for the eligible wagers.
- FanCash can also be redeemed for apparel at Fanatics retail app.
- Biggest potential payback of bonus bets.
- Need to make bets for 10 straight days.
- No website, Fanatics sportsbook is app only.
BetRivers Sportsbook: Best for first-bet security
Highlights: Get a second-chance bet token worth up to $250 if your initial bet loses at BetRivers using the promo code PLAYRIV. New players must make a single deposit of $10 or more after establishing their account and be present in Colorado, New Jersey, or Ontario. Bonus bet only comes in case of a loss, and can only be placed on any market with odds of -200 or longer.
Best For: Players looking for insurance on their first bet.
Key terms: The bonus bet will be loaded into your account within 24 hours of your qualifying wager settling and will expire after seven days. Players must apply the Second Chance Token promo in the betslip for the wager to qualify. Any profits won on the second chance bet will be credited to your account.
How to Claim: Find the BetRivers website or download the app from the App Store or Google Play, create your account, and enter the sportsbook bonus promo code PLAYRIV.
- No minimum odds required on initial bet.
- Second chance bet gives insurance in case of loss.
- Can’t use bonus bets on House Specials.
Sports betting bonus FAQ
Now we will answer some of the most common questions about sports betting bonuses.
That’s all up to you. If you are interested in making a significant first deposit, consider signing up for a sports betting bonus with a deposit match. If you want flexibility to use bonus bets, look for a sports betting bonus that offers a bonus bet amount you can use as you see fit. Each sports betting bonus has a style to fit a different type of player.
Bonus bets are the gifts/incentive sportsbooks give you for registering your account and making an initial first-money wager. Typically, they are sportsbook credit, and you can’t withdraw the amount as cash. What you can do though is use those bonus bets to make wagers and claim any profits you earn as real money.
Promo codes are largely being phased out at a lot of sportsbooks. BetRivers still requires a promo code, but most online sportsbook bonuses come automatically.
Yes. You can and you should. There is nothing stopping you from claiming bonuses at different regulated online sportsbooks.
In addition to sports betting, I like playing at online casinos so I am partial to the bet365 promo that comes with Golden Chips. I also like the eight bonus bets to use at DraftKings, and the flexibility to use the bonus money at FanDuel and BetMGM. There’s lots of good reasons to pick any bonus.
Online sports betting is available now in 31 states, including Missouri, which just launched this fall. The sportsbook promos and sportsbooks are all regulated by the corresponding state agency that oversees the activity.
Almost every sportsbook bonus listed on this page is available when you join a Missouri sports betting app.
First of all, you have to be sure that you don’t already have an account with the sportsbook. Bonuses only come to players who are genuinely new customers. If that is not the problem, then it’s possible that your initial deposit or initial bet didn’t meet the proper threshold to qualify for the bonus. Most sportsbooks require at least a $10 initial deposit and $5 initial bet. Some sportsbooks may need you to ‘opt-in’ for the bonus on the rewards page.
This is a bet that you can’t really lose, because the sportsbook bonus is a return of the amount of real money that you made in bonus credit. Let’s say you make a $50 no sweat bet and it loses, as a bonus, the sportsbook will give you $50 in bonus credit to use on the site and can win with.
This is a sportsbook bonus bestowed in exchange for betting activity by the individual. Bet and get means that the new player gets the bonus after making a sports wager of a certain amount or a deposit.
Sportsbook promos can and will expire if not used. Typically, the bonus credit amount or bonus bets can be used by a player for a week after they are given. However, this just means the bets have to be made within a week, you can bet on games and markets that are after that time period.
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