Best Sports Betting Bonuses & Promotions in the US [2020]

Any sportsbook worth its salt will always offer betting bonuses. Most commonly, bonuses are handed out to new members to help sweeten the deal of signing up, but loads of sportsbooks also have regular bonuses and promotions to keep existing players happy and engaged too.

Bonuses are like the icing on the cake of sports betting. They make the betting experience that little bit more fun and more exciting. Best of all, bonuses are also potentially really profitable if you use them intelligently, and maybe get a little bit of luck too.

This page is your full guide to sports betting bonuses. We take a look at everything you need to know about bonuses, including:

  • How to claim sports betting bonuses
  • Different types of sports bonuses
  • Understanding terms and conditions
  • Where you can find the best bonus for you

Before you jump into signing up for any sportsbook for a bonus, take the time to read this page to get a comprehensive understanding of sports betting promotions in general.

Top Sportsbook Bonuses (Only Available in NJ)

  • tick mark$300 welcome bonus
  • tick markHuge variety of bets
  • tick markPerks with Caesars Rewards®
  • tick markFastest payout platform
  • tick markMany withdrawal options
  • tick markLive Right Now feature
  • tick markImpressive range of bonuses
  • tick markBest betting markets in NJ
  • tick mark1 of the world's top sportsbooks
  • tick markBeginner friendly
  • tick mark$10 free on your first live bet
  • tick markFantastic odds
  • tick markParlays with enhanced odds
  • tick markImpressive range of bets
  • tick mark$10 free bet every week
  • tick markAttractive odds boost feature
  • tick markGreat website and app design
  • tick mark$100 free cash on deposit
  • tick markPromo code WSN50
  • tick markNo bet-throughs required
  • tick markLots of sport-specific promos

Top DFS Bonuses

  • tick mark20K public contests per day
  • tick markPlay against friends privately
  • tick markWin even if you don't finish 1st
  • tick markSpecial contests for newbies
  • tick markMulti-entry tournaments
  • tick markFree play options
  • tick markUse bonus code WSN50
  • tick mark2nd half contests
  • tick markBeginner friendly

Top Horse Betting Bonuses

  • tick markLive streaming and instant replays
  • tick markExclusive rewards programme
  • tick markHorse races 365 days a year
  • tick mark$25 referral bonus
  • tick markPicks from horse racing experts
  • tick markLive streaming in HD

Quick Navigation

What Are Sports Betting Bonuses and How Do They Work?

Sports betting bonuses are basically marketing tools. The idea is that a sportsbook offers customers, either new or existing, something extra to encourage them to play on the site. Usually this a chance to either save money (like a cashback bonus) or win money with no risk (like a free bet).

There are loads of variations of bonuses, and we are going to cover all of them further down.

How do betting bonuses work?

Every bonus works differently, but they are usually very straightforward. Sportsbooks advertise betting bonuses to encourage users to play, so it would be counter productive  if they made them really difficult to avail of.

The most important thing is to read the terms and conditions carefully, which we will also cover later on in this article.

How do you get a betting bonus?

Again, each one is different. Bonuses for new players often require you to type in a “bonus code” during the signup process. Sometimes, you can type in the code afterwards in the cashier. Sometimes, you don’t even need to type in a code and your account is just credited with the bonus automatically.

Bonuses that require you to type in a code, or take some other action like checking a box in the cashier, are referred to as “opt-in bonuses”.

The key to claiming your bonus is to carefully read and follow the instructions, but getting it is rarely complicated.

Sports betting bonuses

Types of Sports Betting Promotions

There are lots of different sports betting bonuses out there. Some are more valuable than others. Some are designed to give you the chance to maximize profits, while others allow you to minimize loss.

Depending on the type of player you are, you will probably find some bonuses are more appealing to you than others.

In this section we are going to run through all the most common types of sports betting bonuses you are likely to find.

Free Bet Bonus

This might be the most common type of bonus out there. A free bet is exactly what it sounds like – one bet that you don’t need to pay for. A free bet bonus is usually for a specific amount (e.g. $20 free bet) and the bet must be for the full amount. Successful Free Bets generally do not return the original value of the bet, only the winnings.

Whatever kind of bonus you have, you often use it in the betslip when you go place your bet. For example, you can use a $20 Free Bet by choosing a bet and placing $20 in the betslip, which will automatically allow you to claim the Free Bet.

Like all bonuses, Free Bets are subject to terms and conditions which you can read about in the next section. Look out for Minimum Odds, Restricted Markets and Rollover Requirements.

Risk Free Bet

A Risk Free Bet is very similar but you use your own money to place the bet, and if it loses, the value of the stake is returned to you. Sometimes it’s returned in cash, and sometimes as a Free Bet.

Money Back

A Money Back or Cashback bonus is designed to help you save money. In this case the sportsbook gives you back a certain percentage of the money you have bet over a period of time. Usually, you only receive money back on losing bets, and you may receive the money back in the form of cash, free bets or bonus cash.

Sign Up (Deposit) Bonus

This is also an extremely common bonus. A Deposit Bonus will match a certain percentage of your first deposit, up to a specified limit. For example, a 100% deposit bonus up to $400 will double whatever money you deposit up to $400. If you deposit more than $400, you will still earn the bonus on the first $400.

The big thing to remember here is that the boosted money is usually in the form of Bonus Cash.

What is Bonus Cash?

Bonus Cash is money that needs to be gambled a certain number of times before it can be withdrawn. Basically, this is to stop people depositing funds for a Deposit Bonus and immediately withdrawing the boosted cash. You can read more in our section on terms and conditions.

No Deposit Bonus

A No Deposit Bonus is essentially a bonus you qualify for without putting any of your own money into your account. Usually, this is in the form of Bonus Cash. For example, a $20 No Deposit Bonus will give you $20 in free Bonus Cash to play with just for setting up an account.

Reload Bonus

A reload bonus is basically the same as a Deposit bonus, only it applies to future deposits (or “reloads”) rather than the first deposit after signing up. Reload Bonuses tend to be subject to similar conditions, and are designed to encourage people to keep playing after the initial excitement of joining.

Enhanced Odds

This type of bonus is exactly what it sounds like. The sportsbook will pick a certain market or bet and give you more generous odds than normal. This is often used when the sportsbook wants to promote a specific sport or market. Enhanced Odds (or Boosted Odds) often have a maximum amount you can bet.

Parlay Bonus / Boosted Parlays

Boosted Parlays are similar, but refer only to parlay bets and usually become more profitable the more legs you add. For example, a sportsbook might boost your odds by 2.5% for three legs, 5% for four legs and so on.

Real Prizes

Some sportsbooks offer real, physical prizes that go beyond the online world. Examples include merchandise like hats or shirts, restaurant or shopping vouchers or electronic products.

Common Sportsbook Bonus Terms and Conditions

Carefully reading the terms and conditions is absolutely essential for any sports betting bonus. Although sportsbooks will rarely actually try to trick users, the headline of the bonus never gives the full story.

There are always rules to consider or obligations to fulfill before your bonus becomes profit. In this section, we are going to run through the terms and conditions to look out for.

Rollover Requirement

This is probably the most important condition to be aware of. Generally, any cash you receive as part of a bonus is not actually cash, but instead what is often called Bonus Cash. Bonus Cash means it can’t actually be withdrawn, and instead must be gambled a certain number of times before it’s unlocked. The number of times it must be gambled is referred to as the rollover requirement.

This could be anywhere from 1x (which is very good) to 70x (which is very bad). The rollover requirement is crucial when it comes to figuring out how valuable a bonus is, even though it’s rarely part of the headline. Always make sure you seek it out in the terms and conditions.

Minimum Odds

This condition refers to Free Bet bonuses. Not every single bet will qualify for your Free Bet, instead you can only use it on bets that have odds over a certain value. Often this is around -200. This condition is to stop people placing their free bet on an almost sure thing, with incredibly short odds, thereby practically guaranteeing a free win over the sportsbook.

Maximum Bet Size

This usually refers to Enhanced Odds bonuses, and just like it sounds it refers to a limit in the amount you can bet. This is to protect the sportsbook losing a huge amount of money if the enhanced odds bet comes in. For example, in the terms and conditions for an Enhanced Odds offer you may see a $100 maximum bet limit.

Restricted Markets

This refers to the idea that not every market is eligible for a bonus. For example, you may be given a Free Bet but it can only be used to bet on NHL or NBA, and not NFL or MLB.

Expiry Date

Just as it sounds, many bonuses have a date they must be used by, after which they expire. For example, if you sign up with a sportsbook and receive a Free Bet Bonus, you may only have one week to use it.

What Are the Best Betting Bonuses?

To be honest, that depends on what kind of player you are. There are advantages and disadvantages to all types of bonuses, and some will suit you more than others.

If you have a limited budget for betting online and want to make the most of your bankroll, a Cashback Bonus or Deposit Bonus might be most appealing. If you intend to play and deposit a lot, Reload Bonuses are great. If you have specific types of bets in mind, you may find some sportsbooks offer Enhanced Odds on your preferred market. Everyone is different.

That said, there are some things to look out for that make some bonuses objectively better than others:

Low Rollover Requirements

The lower the better. If one site offers a 100% deposit bonus with a 65% rollover stipulation on the bonus funds, while another has an 80% deposit bonus but a 5% rollover stipulation, the second bonus is considerably more valuable.

Cash vs Bonus Cash

Just remember that Bonus Cash is not the same as actual cash, and can not be withdrawn. Any time a bonus of any sort involves you receiving or claiming back extra money, make sure it’s in the form of cash and not Bonus Cash.
Generally, the best bonuses are the ones with the least restrictive terms and conditions. As long as you pay close attention to them, as described in the previous section, you will be able to spot the best bonuses.

What States Offer Online Sports Betting Promotions?

Basically all sportsbooks offer bonuses of some kind or another, no matter what state they are in. Legal sport betting is currently available in 16 different states, with more inching closer every day.

We’ve listed every legal state below. Check out our state by state guides to find the best bonuses in your state today.

What Sportsbooks Have The Best Bonuses?

Again, this depends on what kind of bonuses you are looking for. Identifying a really valuable bonus is a big part of choosing which sportsbook is right for you. To get a sense of the different bonus options out there, check out our list of the top sportsbooks in the US right now, and the promotions they offer for new clients.

Best Sportsbooks for Banking Options

Every sportsbook is different, but most have similar banking options. Things like deposit limits and processing times vary a little, but some of the most common payment methods are below:

Bank Cards (Visa / Mastercard)

Paying with your bank card is very easy, since most people will be familiar with making online payments using it already. Deposits tend to be instant and free, but it’s less likely that you will be able to withdraw using the same method.

Online e-wallets (Skrill / PayPal / Netller)

E-wallets such as Paypal, Skrill and Netller are very popular as they provide an extra layer of security between your bank account and your sportsbook. Depositing and withdrawing from an e-wallet is usually free and fast, but if you want to withdraw to your bank account it may take a little longer.

ACH Bank Transfer

This direct transfer is usually available for both depositing and withdrawing, and often only has small bank fees associated with it. It does mean your bank account and sportsbook are directly connected however, which some players prefer to avoid.

More options include:

  • Cash at Casino Cage
  • Check via Mail
  • Wire Transfer
  • Prepaid Card
  • PayNearMe

What Makes a Good Online Sportsbook?

Having valuable betting bonuses is undoubtedly one factor that helps make a sportsbook high quality. But there are many other considerations that help the best stand out from the rest. The following list are things to consider when weighing up the best sportsbook for you:

  • Good odds
  • Wide range of sports and markets
  • Many banking options and low processing fees
  • Fast payouts
  • Solid security and customer support
  • Mobile compatibility and apps

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