I am pretty sure that there is no single human being on this planet who doesn’t love free stuff! This is human nature that free stuff appeals to us. Bookmakers know this fact, too. For this reason, you can find several free offers at various gambling sites. These offers are called bonuses and promos.
Are you a first-time bettor or a pro gambler? Your level of expertise doesn’t matter here. Online sportsbooks are becoming more competitive and use different kinds of free bonuses to attract more gamblers. Hence, keep an eye out for bookmakers and their bonuses so that you don’t miss the best deals.
In this post, I will walk you through different promos and help you find the best ones.
Understand The Bonus Terms, Conditions, and Lingos
As mentioned earlier, free stuff is good! Betting promotions are fun and help you to get the most out of your deposit money. But you should remember that always there are terms and conditions for your bonuses and here is why:
- Bonus terms and conditions prevent crooks from abusing the bonuses.
- Gambling sites set terms to secure their profit.
If the second one surprised you, you probably forgot why these guys are running the gambling sites. Bonus terms obviously swing the odds in favor of sportsbooks because these people are in this business to make money, not just give it away. Don’t get disappointed though. The fact they offer free stuff to make more money does not mean that you cannot make a profit out of the offered rebates, free bets, and free spins. You only need to carefully read the terms and conditions assigned to every bonus. Because if you break the terms after claiming a bonus, you will be screwed and lose your chance of making any money. Wondering how to avoid screwing up? Easy peasy lemon squeezy! Just read and follow the terms of the offer you claimed. Here, I explain the most common terms to be watchful about:
Playthrough or Rollover Requirement
This is the main and by far most important “rule” to know when it comes to casino and sportsbooks bonuses. This rule is also known as the Rollover requirement or Wagering Requirement.
A wagering or Rollover requirement is a multiple that will be applied to your deposit and/or bonus. The number shows the total amount of money you should wager before you can cash out your winnings. For example, you claimed a 120% sportsbook bonus with a 5x wagering requirement. Suppose you deposited $100. In this case, you will have $220 ($100 your deposit+ $120 deposit bonus) to bet with but you cannot cash out your winnings until you clear the 5x rollover requirement.
Let’s do the math :
Now plug the numbers into the formula, and you will see you have to wager $1,100 before you can cash out your winnings.
Some online casinos and sportsbooks apply the rollover requirements only to the bonus or the deposit. Other ones apply to both of them(deposit and bonus).
Just like your milk bottle, the bonuses will expire after a date. In other words, you can complete the bonus requirements and use the bonus within a specific timeframe. Many sportsbooks’ offers have an expiration date between 14 to 30 days.
You have guessed right. This limit sets a maximum amount allowing you to win from a bet. Remember that this rule might be applied regardless of whether you are using a bonus or not, or it might be limited to the betting promotion.
Maximum Withdrawal Amount
This is quite obvious, too. This limit shows you the maximum amount of money the site allows you to cash out from a specific bet or bonus. And remember that most of the time, the sportsbook voids the rest of your bonus/winnings if you decide to withdraw your winnings.
Most sportsbooks specify the minimum odds you can bet on while claiming an offer or bonus. For instance, you may want to claim an offer that is valid for odds of 2:1 or higher. This means that every bet on odds lower than that will not apply to the rollover.
While clearing a sports betting bonus or bonus bet pay attention to this rule because this tells you how little and how much you are allowed to bet. For instance, the minimum bet might be $0.5, and the maximum bet might be $500. BTW, minimum and maximum bets are more common in other areas like casinos and less prevalent in sportsbooks.
Refer A Friend Bonus
Last but not least! First, you need to invite a friend, and they must sign up with the site. Then, this term tells you how much your friend should deposit and clear the rollover requirement before you can receive your bonus from the betting site. Once you and your friend have cleared the wagering requirements, both of you will receive a bonus.
I reviewed the most important and common terms you need to be aware of while claiming an offer at an online gambling site. I must emphasize that knowing the terms and following them is pretty important. Because most gambling sites reserve the right to void your winnings and/or bonus if you break the bonus terms. I don’t want you to lose lots of money on some technicality. So, be wise, and read the terms and conditions for every promotion you decide to claim at online gambling sites.
By now, you have learned the main terms for betting promos. Now, let us go over the different types of bonuses and promos that you can find at online sportsbooks and casinos.
The Common Sports Betting Bonuses And Promos For New Customers And How They Work
Sports betting bonuses are the best way to win more with your wager. Betting sites offer a variety of bonuses like a free bonus, no deposit bonus, and so on to attract more bettors. Wanna know what bonuses are available for you and which sportsbook has the best promos? Just keep reading to find out more.
Are you a new bettor in town? All sportsbooks and casinos offer a kind of Welcome Bonus or Sign-up Bonus to get newcomers hooked. These bonuses allow you to get familiar with the site, test their software, and freeroll some of the bets without risking your money.
Besides, the best betting sites in the USA are generous enough and offer sign-up bonuses to bet for free as a new customer. Following is the list of best online sportsbooks in the US offering the best sign-up bonuses to new players, especially American bettors.
|USA Betting Site||Rank||Welcome Bonus||Best For|
|Betonline||1||$3,000||Overall gambling site|
|Bovada||2||Up to $3,750||Reputation and customer service|
|Fan Duel||3||Up to $1,000||Fantasy Sports|
|MyBookie||4||Up to $1,000||Safety and customer support|
Generally, the top welcome bonuses at sports betting sites have the following characteristics in common:
- They offer mainly a high match or/and a high bonus cap.
- You are allowed to cash out your winning after clearing the wagering requirement. Usually, you can cash out your bonus money too.
- They will specify the minimum odds you can bet on and the sports that will count towards the rollover requirement.
- Their rollover is reasonable. (worth knowing that the wager requirements for the best sports betting bonuses are 10x or less.)
Top Tip: If a gambling site can check all or most of the above boxes, you can rest assured they offer reliable bonuses. So, you can confidently sign up with them.
Canadian Gambling Sites With The Best Welcome Bonuses in 2022
Several sites offer the same welcome promotions for Canadian bettors. Following gambling sites are the best sites available in Canada and offer pretty generous sign-up offers:
|Gambling Site in Canada||Welcome Bonus|
|RoyalPanda||free bet of up to %50|
|BetVictor||free bet of up to $300|
|Neo. bet||$200 welcome package|
|LeoVegas||100% up to $1000 + up to $75 free bet|
|Bet365||100% up to $200 in Bet Credits|
|Betiton||$10 bet free bonus for a $15 bet|
|Spin Sports||Up to $200 Free bet|
This one is the most common bonus that betting sites typically offer when you sign up with a sportsbook. You will see this offer on different labels on different bookmakers’ sites. In this type of promo, the sportsbook will match your initial deposit up to a certain percentage and reward you with an equal amount in the bonus fund. Let me give you an example to make it clear:
A site offers a 100% match bonus of up to $1,000. In other words, you will be given $1 for every $1 you deposit. So, if you deposit $100, you will be given an extra $100 to bet with. The match bonus is the most common bonus among sportsbooks, but the percentage and maximum limit vary from one site to the other. Most sports betting sites offer 50 or 100 percent matches.
One important thing about sign-up offers is that they are typically only valid on the first deposit. Less commonly, some of the sportsbooks and casino bonuses are split up over the first two or three deposits.
No Deposit Bonus
This less common type of offer is when a betting site gives you $10-$30 on your registration, and you do not need to deposit any money. Although this is not a significant amount of money, this will be definitely enough for a couple of free bets. However, the amount of this category is not as big as sign-up or welcome offers. In addition, No deposit bonuses usually come with stricter conditions and typically have stricter maximum winnings withdrawal terms.
Sports Betting Bonuses for Existing Customers
What about existing customers? Don’t they get any bonuses? They do. Here are some of the popular bonuses that betting sites offer to their existing and loyal bettors:
- Reload Bonuses
This is very much like a deposit bonus and works by providing a match percentage of your initial deposit amount. This category usually offers smaller bonuses than welcome offers. However, these bonuses can be claimed more often and are valid even after your first deposit. Some gambling sites allow loyal players to claim a bonus on every single deposit they make. For example, they might offer a 20% “lifetime” reload bonus which means you will get a 20% bonus on every deposit you make.
- Free Bets
This category of bonuses aims to compensate for your losses. In other words, if you bet and lose money, they will refund the amount you have lost.
Sportsbooks offer this type of bonus, often for a particular game that they want to promote. Also, free bets are usually offered for main sporting events like Super Bowl. Refund offers and money-back specials are different kinds of free bets. Usually, the refund ranges from $25 to $50. The refund also may be given as a token. Using the token, you can place a real money bet for free. In this case, you will keep the winnings, but you can’t keep the value of the initial wager. Need an example? Take this for a money-back special:
You bet on the first goalscorer in a soccer game and have a free bet on the match. The game ends without any goals. In this case, you have not lost your money and they will refund it.
Therefore, BE CAREFUL about the advertisements and fully understand what the offer will give you. Never claim a bonus before carefully reading its terms and conditions.
This category is mainly for horse racing, but some sportsbooks offer it for other sporting events, too.
Rebates are similar to free bets. However, rebates will refund a percentage of your net losses. Typically, sportsbooks pay rebates weekly from Sun-Sat or Mon-Sun and calculate your net loss during the week. The most common rebate percentage is 8%. Let us see how it works:
If you wager $600 and lose $300, your net loss is $300. The site will give you $24.
How To Claim An Online Betting Bonus
The process of claiming a bonus varies from one sportsbook to another if you are an existing customer. However, the process for claiming a sign-up offer is pretty much the same on all the betting sites.
There is something to be cautious about for new customers. You have to make sure the betting site you select is safe and trustworthy. Also, always bet responsibly and do not bet what you cannot afford.
Here are the general steps you need to take for claiming a sign-up offer at an online gambling site:
- Choose your betting site (you can select one of the best ones recommended on our site).
- Register and verify your account.
- Make your initial or first deposit.
- Select your betting bonus or promotion.
- Carefully read its terms and conditions.
- Claim or redeem.
Be smart, be responsible, and enjoy your betting!
Best Sports Betting Sites With Bonuses FAQ
Which Sportsbook Offers The Best Promos?
The sites I already recommended are good to start with. But remember that you should not join a betting site just because of its appealing offers. You must make sure it is safe and reliable and has the banking options you want to use. In addition, it is important to check if the site offers the kind of betting market you look for or if it covers your favorite leagues or not.
Wich Gambling Site Offers First-time or Registration Bonus?
In the above tables, you can find the best American and Canadian betting sites that offer welcome bonuses, and free bets at the time of registration. Check out those sites and read their offers.
Which Sportsbook Gives No Deposit Bonus On Registration?
Check out the no deposit bonus section for more details. But if you don’t feel like scrolling up, let me remind you that this type of bonus is not that common and not that big. So, you need to do some research and be selective. Don’t sign-up with some random gambling sites just because they offer a no-deposit bonus. Be wise and select reliable ones.
To Sum It Up
Promotion and free stuff help you make the most out of your money. Although online casinos and sportsbooks assign terms and conditions to make money, you can still make a profit from the offered welcome bonuses, free bets, reload bonuses, and so on. The most important takeaway is to fully understand the terms of the bonus you are about to claim. Never claim a promotion you are not sure of.