Best Sportsbook Promos & Bonus Offers Today

The best sportsbook promos could add up to thousands in bonuses for new sports betting customers. The top sports betting sites have welcome offers that bettors can claim for NFL divisional round, the College Football Playoff National Championship, or even NBA regular season games. Keep reading below to see how to claim your exclusive sign-up deals from top books like Caesars, bet365, Fanatics, BetMGM, and FanDuel.

Best Sportsbook Promos Today

Key details for Latest sportsbook promo Codes & Bonuses

Unlock the best sportsbook promo codes available right now, featuring exclusive bonuses and exciting offers for new and returning bettors.

Sportsbook	Bonus Offer	Promo Code
FanDuel Sportsbook Promo Code	Bet $5, Get $300 in Bonus Bets if your bet wins	Click to claim promo
Bet365 Sportsbook Promo Code	Claim Your $1,000 Bonus! PA only: Bet $5, Get $150 in Bonus Bets Guaranteed + 50 free spins	THELINESVA
BetMGM Sportsbook Promo Code	Welcome Bonus up to $1,500	THELINES
Fanatics Sportsbook Promo Code	Up to $1,000 in bonus bets	Click to claim promo
Caesars Sportsbook Promo Code	Bet $1, Double Your Winnings on Next 10 Wagers	THELINESDYW
Hard Rock Bet Promo Code	Get $100 in bonus bets if your first bet doesn’t win	Click to claim promo
DraftKings Sportsbook Promo Code	Get Up To $1,250 promo + King of the End Zone Promo	Click to claim promo
BetRivers Sportsbook Promo Code	Up to $500	LINESRIV
Crab Sports Promo Code	Up to $500 in Bonus Bets	PLAYMD
ESPN Bet	Coming Soon	N/A

Top sportsbook promos reviewed

FanDuel Sportsbook

FanDuel has a great promo code for new users of Bet $5, Get $300 in bonus bets if your bet wins. The best part is you don’t need a promo code for this offer. Simply register using the links on this page.

FanDuel is one of the most trusted brands in the sports betting space. The site rewards its users with parlay insurance on select games. There is no shortage of daily odds boosts on NFL, NBA, NHL, and college football games.

• Bonus offer: Bet $5, Get $300 in Bonus Bets if you win
• Best feature: Same game parlays.
• App Store rating: 4.8 (Apple), 4.8 (Google)
• Payout speed: Pays in 6 hours

Bet365 Sportsbook

This sports betting app is offered in a growing number of states, including Arizona, Colorado, Indiana, Iowa, Kentucky, New Jersey, North Carolina, Ohio, and Virginia. If you reside in or are visiting one of those states, new bettors can choose between a First Bet Safety Net up to $1,000 OR Bet $5, Get $150 in Bonus Bets Guaranteed*.

Bet365 is live in Pennsylvania, and the welcome offer is slightly different: Bet $5, Get $150 in Bonus Bets Guaranteed + 50 free spins. These offers come with a simple 1x playthrough requirement for Bonus Bets. The bet365 bonus code THELINESVA can be used during registration but does not change the offer amount in any way.

You’re required to deposit at least $10 and bet at least $5 to qualify.  The value of these bonus bets isn’t factored into your net winnings as long as those bets cash in.

*Offer Terms and Conditions: Subject to meeting qualifying criteria. Bonus Bets expire after seven days. The qualifying wager must have odds of -500 or longer. Bonus Bets wager excluded from returns. New customers only. Available in-app only.

Bet365 allows users to bet on same game parlays and offers early payouts for select NFL games. The way this works is you get your bet paid out if the team you back goes up by 17 points or more at any point in the contest.

• Bonus offer: First Bet Safety Net up to $1,000 OR, Bet $5, Get $150 in Bonus Bets Guaranteed
• Best feature: Generous welcome bonus for new bettors
• App Store rating: 4.3 (Apple), 2.0 (Google)
• Payout speed: Same day based on approval

BetMGM Sportsbook

New players with BetMGM have a great welcome offer. New users will get a welcome bonus up to $1,500. Bonus bets expire in seven days. One new customer offer only. Additional terms. To receive this promotion to its fullest extent, use the BetMGM bonus code THELINES with a deposit of $10 or more.

Customers in Nevada can get up to $250 in bonus bets if their first bet doesn’t win.

The site also utilizes a “One Game Parlay” option, allowing bettors to build multi-leg parlays around single games. This tool is located on the main bar for most major sporting events.

Experienced sports bettors will love BetMGM because of its many options. You can combine multiple same-game parlays with SGP+ and try teaser bets on football and basketball.

• Bonus offer: Up to $1,500 welcome bonus
• Nevada Bonus Offer: Up to $250 welcome bonus
• Best feature: Great daily odds boosts
• App Store rating: 4.8 (Apple), 4.5 (Google)
• Payout speed: Pays in 6 hours

Fanatics Sportsbook

Despite being the newest operator among the brands listed on this page, the Fanatics promo code unlocks a solid welcome bonus. New users in most states can bet and get up to $1,000 in no sweat bets.

There is a wide range of betting markets available to take advantage of those bonus bets. Users can choose between NFL divisional round game lines, MLB futures, CFB odds, and more. Like with other sportsbooks listed here, users will only collect the winning stake from those wagers, while Fanatics Sportsbook keeps the bonus stake.

The Fanatics brand is now live in 20 legal US sports betting markets and counting, allowing all users to take advantage of a strong live betting menu and daily NBA specials.

• Bonus offer: Bet and Get up to $1,000 in no sweat bets
• Best feature: Deals on Fanatics merchandise
• App Store rating: 4.7 (Apple), 3.7 (Google)
• Payout speed: Two to three banking days 

Caesars Sportsbook

New users will get ten 100% profit boost tokens on your first $1 wager. The Caesars promo code is THELINESDYW. New and existing customers who bet with Caesars Sportsbook also earn Caesars Rewards and Tier Credits. Gold, platinum, diamond, diamond plus, diamond elite, and seven stars are the six different Caesars Rewards levels. The more tier credits you earn, the more perks you receive.

Meanwhile, rewards credits are the true rewards that you can redeem for bonus bets, along with free or discounted hotel rooms, food, and free casino play. Caesars converts every reward credit into one cent.

After using the Caesars promo code, you can bet on almost any sport under the sun. There are daily odds boosts for most sports. A recent example was from the College Football Playoff. The Caesars promo was titled “Great Teams Cover” boost with +340 odds. In order for this bet to be a winner, Penn State, Texas, and Ohio State each needed to cover the spread in their respective first-round CFB game.

• Bonus offer: Bet $1, Double Your Winnings on Next 10 Wagers.
• Best feature: Caesars Rewards
• App Store rating: 4.6 (Apple), 4.4 (Google)
• Payout speed: Same day based on approval

Hard Rock Bet Sportsbook

The Hard Rock Bet promo code provides new users up to Get $100 in bonus bets if your first bet doesn’t win . No Hard Rock Bet bonus code is needed to claim.

New and existing users will find regular profit boosts in the promo menu. Additionally, Hard Rock has a Bonus Bet Club in which users can receive a $10 bonus bet after making $50 in culmative wagers. On Fridays, HR Bet celebrates happy hour with its customers by offering a new boost every hour starting at 4 p.m.

• Bonus offer: Get up to Get $100 in bonus bets if your first bet doesn’t win
• Best feature: Bettors looking for a low-deposit promo opportunity.
• App Store rating: 4.9 (Apple), 4.6 (Google)
• Payout speed: Within 48 hours

DraftKings Sportsbook

The DraftKings promo code provides one of the best sports betting welcome bonuses around. New users can get up to $1,250 in bonuses + King of the Court Profit Boost.

Just like any of the other sportsbooks that are listed, you can use your bonus bets on MLB futures, such as which team will win the World Series this season. If you’re using your cash funds on single-game bets, this strategy tends to be the most lucrative option for bonus bets, as your “bonus stake” won’t be included in your net winnings.

DraftKings is a trusted brand in the US sports betting space, largely due to its daily fantasy origins. The DraftKings sports betting app has daily pools contests, including free entry options. Some of these pools have prizes up to $25,000 or more.

• Bonus offer: Get up to $1,250 in bonuses + King of the End Zone promo
• Best feature: Expansive live betting options
• App Store rating: 4.8 (Apple), 4.6 (Google)
• Payout speed: Instantly upon approval

BetRivers Sportsbook

Just enter our BetRivers promo code LINESRIV during your registration. This code is good for up to a $500 welcome bonus!

After placing your first bet on BetRivers, you’ll be refunded with a bet credit should your first wager lose. Max values apply.

Let’s say you deposit $300 and then place a $300 bet. If the wager doesn’t pay off, your account will be credited within 24 hours. You’ll then have 30 days to use the credit before it expires.

You can start betting on sports after using the BetRivers promo code to get your welcome bonus. BetRivers will give you daily house specials with boosted odds. Bettors will also want to check out BetRivers’ “House Specials” tab, where plenty of boosts are available to bet on every day.

• Bonus offer: Up to $500
• Best feature: House special betting options
• App Store rating: 4.5 (Apple), 4.4 (Google)
• Payout speed: Instantly upon approval

ESPN Bet

The ESPN Bet promo code is a multi-tier promo valued up to $1,500. With the first part, users can receive a 200% match of the initial deposit, with a maximum of up to $500. Bettors will receive matching funds at a rate of $1 for every $10 in wagers. It’s combined with a first-bet reset of up to $1,000. This means if your first wager is a losing one, you’ll receive a refund of your bet, up to the maximum. The bonus comes in the form of site credit. Once the refund or bonus bet appears in your account, it’s important to remember there is an expiration date associated with it.

• Bonus offer: NA
• Best feature: Bettors looking for a deposit match and first-bet insurance.
• App Store rating: 4.8 (Apple), 4.8 (Google)
• Payout speed: Within 48 hours

Crab Sports

Crab Sports is exclusive to the Maryland sports betting market, focusing on local promos and offerings. They are a great option for new users in the  Old Line State to consider. Use our code PLAYMD and secure $500 in total bonuses upon signup. Once the registration process is complete, make sure your bet has odds at -120 or longer. Don’t wait too long to use your bonus bet voucher, as it will expire after 8 days of being credited.

• Bonus offer: Up to $500 in Bonus Bets
• Best feature: Bettors looking for local team promos and bonuses.
• App Store rating: 4.1 (Apple), 3.5 (Google)
• Payout speed: Within 5 business days

Best sportsbook bonuses

Best overall sign-up bonus	DraftKings Sportsbook
Best bet-get offer	bet365 Sportsbook
Best referral bonus	FanDuel Sportsbook
Biggest bonus options	Bet365 Sportsbook
Largest maximum sign-up bonus	BetMGM Sportsbook

How to claim your Sportsbook promo

Generally speaking, the best way to navigate sports betting bonus codes is to use them for futures bets.

That’s because you’re not receiving the “stake” of the bonus bet in your theoretical net profit, which is noted above. For instance, let’s say a sportsbook user receives a $50 bonus credit and decides to use it on a -130 moneyline wager. If the bet wins, this customer would then inherit $38.46 in his or her sportsbook funding. While you can then account for the stake if you roll over those winnings into another bet, you’re technically losing “value” on the bonus bet.

On the flip side, if a bettor places this bonus wager on a +3000 futures bet, the potential net outcome would be $1,500. Of course, a futures bet has a less likely chance of cashing than a single-game bet — solely based on implied probability. But this thought process revolves around using your “real money” for single-game wagers and your bonus funds for mainly futures bets.

If you’re an ultra-casual or conservative sports bettor, this advice may not be applicable to you. Mind you, that’s totally fine. These recommendations allow bettors, who plan on being more active users, to fully earn the most “bang for their buck,” if you will.

Sportsbook Promos for Existing Players

Sportsbook bonuses extend far beyond welcome offers. Existing customers will find an extremely strong selection of sports betting promos updated daily. Most US sports betting apps roll a wide range of offers that include profit boost tokens; odds boost, second chance bets, parlay insurance, and more. Consider the sportsbook’s way of keeping users engaged in their product beyond the initial trial.

Here is a look at some of the current offers sportsbooks are rolling out for the CFB National Championship Game, NFL Playoffs, NBA regular season, NCAA basketball, and more. You will notice that these sportsbook promos can vary based on the current sports calendar.

Sportsbook	Promo for Existing Users
BetMGM Sportsbook	Second Chance of 1st TD bets
BetMGM Sportsbook	Parlay Boost Tokens
bet365 Sportsbook	Super Boosts
bet365 Sportsbook	NFL & NCAAF Early Payout (17+ points)
Caesars Sportsbook	100% Profit Boosts
Caesars Sportsbook	Odds Boosts
DraftKings Sportsbook	Mystery Boosts
DraftKings Sportsbook	Quick SGP
Fanatics Sportsbook	Refer friends, get up to $250 in sportsbook bonus bets
Fanatics Sportsbook	Daily Profit Boosts
FanDuel Sportsbook	No Sweat Same Game Parlay
FanDuel Sportsbook	30% Profit Boosts
BetRivers Sportsbook	House Specials
BetRivers Sportsbook	NBA Parlay Insurance
Hard Rock Bet Sportsbook	Bonus Bet Club
Hard Rock Bet Sportsbook	Happy Hour Boosts
ESPN Bet Sportsbook	First Take Specials
ESPN Bet Sportsbook	Mad Dog’s Dogs
Crab Sports	Parlay Booster
Crab Sports	Everyday SGP Bet Insurance

Top sportsbook promos by state

With sports betting legalization constantly on the move across the country, the number of sign-up opportunities continues to climb. That said, some states don’t have as many sportsbook licenses as others. To make things easier for you, we’ve gathered which books are associated with every state with legal sports wagering.

State	Online Sports Betting?	Retail Sports Betting?	Best Online Sportsbooks Available
Arizona	Yes	Yes	DraftKings, BetMGM, and FanDuel
Arkansas	Yes	Yes	N/A
Colorado	Yes	Yes	DraftKings, BetMGM, Caesars, and FanDuel
Connecticut	Yes	Yes	DraftKings, FanDuel
Delaware	No	Yes	N/A
Illinois	Yes	Yes	DraftKings, Caesars, and FanDuel
Indiana	Yes	Yes	DraftKings, BetMGM, Caesars, and FanDuel
Iowa	Yes	Yes	DraftKings, BetMGM, and Caesars
Kansas	Yes	Yes	DraftKings, BetMGM, Caesars, and FanDuel
Kentucky	Yes	Yes	DraftKings, BetMGM, Caesars, and FanDuel
Louisiana	Yes	Yes	DraftKings, BetMGM, Caesars, and FanDuel
Maine	Yes	Coming Soon	DraftKings, Caesars
Maryland	Yes	Yes	DraftKings, BetMGM, Caesars, and FanDuel
Massachusetts	Yes	Yes	DraftKings, BetMGM, Caesars, and FanDuel
Michigan	Yes	Yes	DraftKings, BetMGM, Caesars, and FanDuel
Mississippi	No	Yes	N/A
Montana	No	Yes	N/A
Nevada	Yes	Yes	N/A
New Hampshire	Yes	Yes	DraftKings
New Jersey	Yes	Yes	DraftKings, BetMGM, Caesars, and FanDuel
New Mexico	No	Yes	N/A
North Carolina	Yes	Yes	Caesars, FanDuel, BetMGM, and bet365
New York	Yes	Yes	DraftKings, BetMGM, Caesars, and FanDuel
Ohio	Yes	Yes	DraftKings, BetMGM, Caesars, and FanDuel
Oregon	Yes	Yes	DraftKings
Pennsylvania	Yes	Yes	DraftKings, BetMGM, Caesars, and FanDuel
Rhode Island	Yes	Yes	N/A
South Dakota	No	Yes	N/A
Tennessee	Yes	No	DraftKings, BetMGM, Caesars, and FanDuel
Vermont	Yes	No	DraftKings, FanDuel
Virginia	Yes	Yes	DraftKings, BetMGM, Caesars, and FanDuel
Washington, D.C.	Yes	Yes	BetMGM, Caesars
West Virginia	Yes	Yes	DraftKings, BetMGM, Caesars, and FanDuel
Wisconsin	No	Yes	N/A
Wyoming	Yes	No	DraftKings, BetMGM, and FanDuel

Best Sportsbook Promos By Sport

NFL promos

When it comes to NFL sports betting promos, the best sports betting sites and betting apps offer an extensive menu of options, including odds boosts, 50% SGP profit boosts, No Sweat SGP, house specials, popular parlays, and supper boosts. One example of a Caesars NFL Odds boost for the divisional round is Lions QB Jared Goff to have 250+ pass yards and 3+ pass TDs against the Washington Commanders. So the payout on a winning $100 bet would be $300, including the initial stake, compared to $251 with the original +151 price. Sportsbooks typically set a maximum bet amount when it comes to certain boosts.  

NBA promos

Stars like LeBron James, Shai Gilgeous-Alexander, Victor Wembanyama, Giannis Antetokounmppo, Jalen Brunson, and Jayson Tatum are typically in the NBA sportsbook promo spotlight throughout the season. The offers will come in the form of super boosts and house specials. Books like FanDuel are likely to offer regular SGP profit boosts ranging between 25% and 50%. BetMGM regularly updates its NBA odds boosts, or Lion’s Boost, during the season. One recent example was for the OKC Thunder vs. Miami Heat game with boosted odds of +300 (from +210), and in order for it to be a winner, Jimmy Butler and Tyler Herro each need to have 20+ points.

UFC promos

With UFC cards taking place almost every weekend, sportsbooks regularly offer UFC betting sportsbook promos, especially when it comes to bigger premium live events like UFC 311. The UFC bonus offers typically are not as extensive compared to the other sports mentioned above. Books like DraftKings will update its Quick SGP menu for each week’s card. One example that’s available for UFC 311 is Islam Makhachev moneyline, submission method of victory, and over 2.5 total rounds with +800 odds. 

College Football  promos

CFB betting is a little more exciting these days, especially with teams vying for the 12 College Football Playoff spots. It means every game involving top-25 teams has more meaning, setting the scene for weekly college football promos. Fanatics customers, for example, will find a strong popular parlay menu that is constantly updated. “Air Show” with +800 odds is one example tied to the College Football Playoff championship game. In this case, the bettor needs Ohio State QB Will Howard to have 250+ passing yards and 2+ passing TDs, while Notre Dame QB Rilley Leonard has to finish Monday’s game with 200+ passing yards and 2+ passing TDs. With prebuilt parlays, users save time picking three or four legs. The flip side is all the legs must hit to win the bet. At the same time, it doesn’t mean the pre-built wager has a better shot of being a winner.

College Basketball promos

CBB bettors love filling out those NCAA Tournament brackets every March, but they also look forward to taking advantage of great college basketball sportsbook promos being offered by their sports betting app of choice. Whether it’s an ACC game or March Madness betting season, the offers tend to include SGP parlay insurance, parlay bet boosts, profit boosts, and more. Occasionally, the promos come in the form of a profit boost pack in which users receive multiple tokens ranging between 25% and 50%. With college basketball season going from November through April, it’s a good idea to check promo pages several times a week. 

NHL promos

With the puck dropping for a new NHL season, bettors will find a variety of NHL sportsbook promos in the form of futures boosts, early payout offers, house specials, parlay insurance, and more. Sportsbooks like Caesars might post a combo parlay involving an NBA and NHL team from the same city, like the Colorado Avalanche and Denver Nuggets, to win the Western Conference with +3338 odds. Another book might offer something like a 30% Stanley Cup profit boost. Hockey bettors will find daily odds boosts during the regular season and playoffs. Some nights, bet365 will offer a SGP 30% profit boost on any game.

MLB promos

Bettors will find odds boosts, profit boosts, SGP parlay insurance, and house specials in the MLB sports betting promo lineup. A customer who likes making daily SGP wagers is most likely going to choose a book like BetRivers that offers MLB parlay insurance for any real money 4+ leg baseball parlay. If exactly one leg loses, the bettor will get the stake back in the form of a bonus bet. The exact amount of the bonus bet, which is not considered real money, varies. So let’s say for a Dodgers game, you build a parlay that includes Blake Snell 7+  strikeouts, Shohei Ohtani 2+ stolen bases, Freddie Freeman home run, and Mookie Betts  3+ total bases. If Snell leaves the game with six strikeouts instead of seven, but the other three legs hit, the parlay insurance will be applied. A bonus bet will appear in your account shortly after the wager settles. 

WNBA promos 

Similar to NBA betting, WNBA stars like A’ja Wilson, Breanna Stewart, Caitlin Clark, Napheesa Collier, and others will get the spotlight when it comes to odd boosts. One example could look like Breanna Stewart and Sabrina Ionescu both to score 15+ points for the New York Liberty. FanDuel Sportsbook will sometimes roll out a 25% SGP profit boost for regular season games.

Best sportsbook Bonus For Today

The ongoing weekly King of the Court promo from DraftKings Sportsbook is one of the top sportsbook promos. “Get a qualifying bet token on NBA player props and win a share of $1,000,000 in bonus bets. Opt-in is required, and you’ll need to place a minimum $5 pre-match NBA player prop wager using the King of the Court token, such as player points, player assists, or player rebounds. Qualifying wager must have -200 odds.

If the player you wager on finishes the day as the points, rebounds, and assists leader, you win a share of the $1 million.

Here is an example of the NBA King of the Court promo following the opt-in. You bet on Shai Gilgeous-Alexander to finish the game with 25+ points. If SGA ends up being the statistical leader in points, rebounds, and assists, you would be in line to get an equal share of the prize pool. Read the full terms and conditions before placing the bet.

How we rate sportsbook promos

The sports betting experts at TheLines always seek the best bonuses and promos from new sports betting sites. It is important to remember that not all sportsbook bonuses hold the same value.

You will get some amazing offers when you first sign up at one of the sportsbooks mentioned above. However, these offers are constantly changing, so it’s important to grab one that is best for you in a timely fashion.

For instance, when legal sports betting launched in Massachusetts. DraftKings ran a promo for new users in which you could get +100 odds on the Boston Celtics to score 1 point against the Houston Rockets. TheLines would rate this as an elite bonus that you should take advantage of. Sportsbooks will initially run these types of promos to entice users to sign up and then to keep them returning to their book in search of similar deals. Unfortunately, these offers come and go rather quickly, depending on upcoming games and sporting events.

We encourage line shopping when making a bet so you can get the maximum payout. And the same goes for many of these “lower tier” sportsbooks odds boosts and promos.

Sportsbooks often have similar, if not identical, “lower tier” odds boosts on games. If you want to be profitable when betting on sports, you will want to find the best odds, odds boosts, and promos available. For instance, let’s say Caesars Sportsbook has an odds boost of Jayson Tatum or Jaylen Brown to score the game’s first field goal at +270. DraftKings, meanwhile, has that same prop at +290. In this scenario, you’d want to bet at DraftKings instead of Caesars.

Promo and bonus types explained

Online sportsbooks offer various promotions for new and existing customers. The names may vary by sportsbook, but the promotions generally fall into the following categories.

No deposit bonus

This sportsbook promo comes with bonus funds that you can use for a wager following registration. The amount will vary based on the sports betting site’s offer. However, the no deposit bonus will not be available to withdraw as it is not considered a site credit.

For example, the DraftKings welcome offer comes with a $50 bonus bet. It is available to use on any NFL Playoff game. Say for the divisional round, you like the Kansas City Chiefs, Philadelphia Eagles and Baltimore Ravens in a three-leg spread parlay, and you use the $50 bonus bet on it. As long as all three teams cover, DK will credit you the winnings from this no deposit bonus bet but keeps the site credit. Based on odds of +596, you will notice an additional $298 in your account once the bet settles.

If the bet loses, you’ll need to deposit funds to make future wagers. Be sure to read the full terms and conditions regarding a bonus bet, as there are restrictions regarding the expiration date. Basically, a no deposit bonus bet is a great way to give the sports betting app a test run.

Deposit match

The top sportsbook might include a deposit match “up to $1,000” in the sign-up offer. But be sure to read the full terms and conditions associated with this offer. It’s typically a percentage of your first deposit and includes a playthrough requirement before the funds are available for withdrawal. If it’s a 20% deposit match, for example, and you deposit $500, the deposit match bonus would be $100, giving you a total of $600. If you do decide to take advantage of this offer that sounds appealing, take your personal gambling comfort level into consideration.

Sign-up or welcome bonus

A signup bonus is exactly what it sounds like. A sportsbook is giving a new customer a bonus for signing up for a sports betting account and making a deposit. The offers located at the top of this page are all examples of current welcome bonuses.

No-sweat bet

Receive a refund as a bonus bet or bets if your first wager loses. Depending on the specific sportsbook, the actual name for such a promo will vary. Usually, the bonus bet refund has an upper limit, and bets larger than that are only covered up to the point of the limit.

For example, if you used a no-sweat bet to place a $50 wager on Travis Kelce to score a touchdown in his next game and he was unsuccessful, the sportsbook would add $50 as a bonus bet or bets to your account to cover the amount you’d lost on the wager. Such bonus bets are then eligible to be used on future wagers but not to withdraw

Bet and get

Bet and get bonuses are popping up more often at online sportsbooks as an incentive to not only get new bettors to sign up but to begin placing wagers. For example, bettors who claim a “bet $5, get $200” promo will receive $200 in bonus bets after signing up and making a wager of at least $5. Some sportsbooks will provide the bonus whether you win or lose that original bet; others may require you to win. 

Many people prefer this type of bonus to “second-chance bets” or similar promotions as it doesn’t require your bet to lose to receive the benefit. If you signed up, made a $10 wager, and won the bet, you would still receive the $200. This bet can also be placed on a variety of sports, such as a college football betting promo or a soccer betting promo.

Second-chance bet

When you open your sportsbook app of choice, you’ll often see the words “No Sweat Bet” or “No Sweat SGP.” However, no matter what verbiage is used, the sportsbook will issue you a bonus bet if your first wager is a losing one. It means you’re getting another opportunity to produce a winning bet. So if you wager $50 on the Ravens to beat the Eagles in the Super Bowl and Baltimore ends up losing, you’ll receive a $50 second-chance bet. Because of this offer, a bettor might be more willing to take on a little more risk with the first bet, knowing a second opportunity to create a winning bet could be coming their way.

First-bet promo

A first-bet promo is when the bonus is contingent upon the result of the first wager. For example, FanDuel might roll out a welcome offer of “Bet $5, Get $200, if your bet wins.” In order to get the $200 bonus, you would need your $5 Buffalo Bills spread bet to be a winner to trigger the $200 bonus. Other books like BetMGM will give “up to $1,500 in bonus bets if your first bet doesn’t win. Read the full terms and conditions before accepting the offer.

Odds boost

Online sportsbooks increase the odds for the player on certain wagering options through an odds boost. The better the odds for the player, the better the return for a winning wager. The top sports betting sites will update these daily, and can usually be found at the top of the main sportsbook betting page.

Referral bonus

Send a personal referral code from an online sportsbook to a new customer and receive bonus credit to place a wager after they sign up and make a deposit. The other player will also receive a bonus for signing up.

Leveraging Sports betting promos to build your bankroll

Taking advantage of popular promos such as profit boosts or bonus bets is a good way to build a bankroll. There is minimal risk with bonus bets, so using them on a bet with a high implied probability is a smart bet. You might see Philadelphia 76ers moneyline odds of -170 for their game against the New Orleans Pelicans. Because of the “-” sign before the Sixers number, Philly is considered the favorite. With this particular example, the implied odds of a Philadelphia outright win are a tad under 63%. So, if you used a $50 bonus bet, you would keep $29.41 of the $79.41 total payout, and add it to your overall bankroll.

Keep in mind that even if a team, based on the odds, has an 83% implied probability, there are no guaranteed wins. It’s also important to view injury reports before placing a bet in case a coach pulls a star player from the lineup hours before tip.

Easy wins for beginners using sportsbook bonuses

For beginners, sportsbook bonuses like risk-free bets and deposit matches offer a low-risk way to get started. Use risk-free bets on high-probability outcomes, knowing you’ll get a refund in bonus credit if the bet loses. For deposit matches, maximize your bonus by depositing the full eligible amount and placing bets strategically. Always read the terms, including wagering requirements and minimum odds, to ensure you meet the conditions for withdrawal. With smart use of bonuses, you can build your bankroll while minimizing risk.

Sportsbook playthrough obligations

Some sportsbooks have playthrough requirements associated with the welcome bonus. It’s important to read all of the terms and conditions attached to the sportsbook promo so you know if there is a certain amount of money you need to bet before the funds are available for withdrawal. Bonus funds are not considered real money. It’s sort of like getting a match-play coupon from your favorite Las Vegas casino to use at the blackjack tables.

The Playthrough requirements at BetMGM will be different from bet365. Say the sports betting app has a 3x playthrough requirement for a $300 bonus, it means you’ll need to make $900 in bets before the funds are available for withdraw. For $50, it would be $150.

Responsible gambling with new-user bonuses

No matter what the bonus is, it’s important to remember that sports betting is considered entertainment. While an offer like “up to $1,000 in bonus bets” might sound extremely appealing, from a responsible gambling standpoint, it might not be the best offer for all users. When deciding between different bonus offers, it’s a good idea to go with the ones that are within your comfort level.

If you find gambling is starting to impact your daily routine, there are a number of responsible gambling tools available to get the necessary help. The National Council on Problem Gambling is available by phone/text at 1-800-522-4700 or ncpgambling.org/chat. Help is available 24/7 and is always free and confident