Making The Most of Sports Betting Promotions and Sign-Up Bonuses

Using a sports betting promotion is part of every sports bettor's journey. Learn how they work and what you need to know to get started
Promotions

Being a novice or first-time sports bettor is no different than being like a kid on Christmas morning. When you are new to the sports betting world you aren’t hooked up on all the existing betting sites and you can still make a new account. This is an advantage if you are serious about cashing in and making some money.

With new accounts come bonuses and promotions that are typically only available for first-time users. Sure, it’s one big marketing ploy from these companies so that they lure you in, but you can be the one laughing at the end of the day if you play your cards the right way. 

What to Know

Sports betting promotions can take many forms, such as bonus bets, free bets, enhanced odds, cashback, and more. The purpose of most of these promotions is to create excitement and encourage betting activity, as well as to build customer loyalty.

Moreover, promotions are typically time-sensitive and may have certain conditions attached, such as minimum odds, a maximum stake, or a requirement to place a certain number of bets. They may also have restrictions on the type of sporting events or markets on which they can be used.

Sports betting promotions are an important aspect of betting and are used to differentiate one sportsbook from another, so they are worth considering when choosing which book to use. They can provide valuable benefits to customers, such as a lower risk of losing money or the opportunity to win more, but make sure to the terms and conditions carefully before accepting a promotion to ensure that it meets your needs and expectations.

Different Kinds of Promotions

Sports betting promotions are like gifts from a sportsbook Santa Claus. And just like with gifts, there are many different types to choose from. 

  • Bonus bets: These are like finding a big pile of cash under the Christmas tree. Bonus bets give you extra funds to bet with, allowing you to potentially win more money. 
  • Free bets: These are like getting a free ride on a thrill ride at an amusement park. You get to place a bet without risking any of your own money, so you can enjoy the excitement of betting without the risk. 
  • Enhanced odds: These are like finding a rare and valuable toy in a cereal box. They increase the odds of a specific outcome, making your bet more valuable and increasing the potential payout. 
  • Cashback: This is like getting a refund for a gift you didn’t like. If your bet loses, you get some of your money back, which can help soften the blow. 
  • Referral bonuses: These are like getting a reward for introducing your friends to the sportsbook. If you refer a friend who signs up and places a bet, you both get a bonus. 

Remember, just like with any gift, make sure to read the terms and conditions before accepting a sports betting promotion. But if you pick the right one, it can be a lot of fun and add an extra level of excitement to your sports betting experience!

What’s the Catch? 

While sports betting promotions can be a great way to enhance your betting experience, there are also some potential drawbacks to be aware of. Many promotions come with conditions and restrictions that can limit your ability to take full advantage of them.

@marekpiwnicki

For example, a promotion might require you to place a certain number of bets or have restrictions on the types of events or markets you can bet on. A popular example of this is during the NFL season when a book will offer you $10 back on a parlay if you place a same-game-parlay with at least 4 legs that build up to odds of +400 or more. 

Second, promotions may have expiration dates or time limits, so if you don’t use them within a specific timeframe, you’ll lose the opportunity to take advantage of them. 

Third, promotions can sometimes be misleading, with the actual benefits not being as substantial as they seem at first glance. It’s important to read the fine print and understand the terms and conditions of each promotion to avoid disappointment. If we go back to our same-game-parlay example, many bettors won’t read the fine print and won’t see that these 4 legs must build to at least +400. If you place a parlay with odds at +399 and it doesn’t hit, you aren’t getting that $10 back. 

While sports betting promotions can provide valuable benefits, it’s important to be aware of the potential downsides and to carefully evaluate each promotion before accepting it. This will help ensure that you have a positive and enjoyable betting experience.

US Sportsbook Promotions

BetRivers

BetRivers’ new-player bonus only applies to the initial deposit and wager made following registration. Users must put down a minimum of $10 to qualify for the BetRivers promo code offer. If you lose your first bet, BetRivers will return the entire stake, up to $500, as a bonus bet. You’ll need to wager your bonus amount once at odds of -200 or greater before you can withdraw winnings.

Click on the banner or here to get your bonus

FanDuel

FanDuel is offering new customers the chance to claim a $3,000 no sweat first bet Super Bowl welcome offer. Following a $10 deposit and an initial real money wager on any sports market, FanDuel will return your stake to you, up to $3,000, as bonus bets should your wager lose.

DraftKings

If you’ve yet to place a bet with DraftKings Sportsbook, this simplified, beginner-friendly sign-up bonus checks the right boxes. Get started by creating a DraftKings Sportsbook account. Next, confirm your identity and location. Lastly, make a qualifying deposit of at least $5 and place a wager of $5 or more on any sports market. Regardless of whether your first-time wager comes up a winner or loser, DraftKings will credit your account with $200 in bonus bets. That’s in addition to any cash winnings earned from your original wager.

Caesars

When you create a new Caesars Sportsbook account, your first bet is on Caesars, up to $1,250. As a first-time player, you’ll need to create an account and deposit $10 or more (wager $1,250 for maximum value). After the initial $10 deposit, you’ll need to make your first wager with the sportsbook. Should you lose that bet, Caesars will refund your account with the amount wagered, up to $1,250, in the form of a single bet.

BetMGM

First-time customers with BetMGM can follow up their initial deposit by making a real money wager on any sports market they wish. If their bet fails, the operator will issue a refund equal to the amount that was wagered up to $1,000. Read on to learn how to claim the offer and the terms and conditions attached.

WynnBet

Newly registered players can opt-in to claim the WynnBET welcome offer by tapping the ‘Deposit Now’ button on the promotion tile. Score a $100 free bet when you make a qualifying deposit of $100 or more and place your first bet of at least $100 at odds of -120 or greater. The best part: Whether the bet settles as a win, loss, or push, you will receive a $100 free bet.

Barstool SportsBook

The Barstool Sportsbook welcome offer consists of a $1,000 new player bonus, available to all Barstool Sportsbook players who have yet to make an initial deposit. If your first bet loses, you’ll receive an equal free bet of up to $1,000. Any Barstool bonus cash must be played through once at odds of -200 or longer. If the requirement is not met within 30 days, the bonus cash will be automatically withdrawn from your account.

Paid in bonus bets if your bet wins.

21+ and present in select states. First online real money wager only. $10 first deposit required. Bonus issued as nonwithdrawable bonus bets that expire 7 days after receipt. See terms at sportsbook.fanduel.com. FanDuel is offering online sports wagering in Kansas under an agreement with Kansas Star Casino, LLC. Gambling Problem? Call 1-800-GAMBLER or visit FanDuel.com/RG (CO, IA, KY, MI, NJ, OH, PA, IL, TN, VA, VT), 1-800-NEXT-STEP or text NEXTSTEP to 53342 (AZ), 1-888-789-7777 or visit ccpg.org/chat (CT), 1-800-9-WITH-IT (IN), 1-800-522-4700 or visit ksgamblinghelp.com (KS), 1-877-770-STOP (LA), visit www.mdgamblinghelp.org (MD), 1-800-522-4700 (WY), or visit www.1800gambler.net (WV).

Betting Ladies members get a bonus! Available in all states but NY, DC, MS, PR and NV.

Use our code BETLADY when you sign up!

Must be 21+ and present in CO, IA, IL, IN, LA, MI, OH, NJ, NY, or VA. Void where prohibited. T&C Apply. If you or someone you know in CO, IL, LA, OH, or NJ has a gambling problem, Call or TEXT 1-800-GAMBLER. In IA, call 1-800-BETS-OFF. IN call 1-800-9-WITH-IT. In MI, call the Michigan Department of Health and Human Services Gambling Disorder Help-line at: 800-270-7117. In NY, Call (877-8-HOPENY) or text HOPENY (467369). In VA, call 1-888-532-3500.

Receive $150 as bonus bets. Deposit required. Paid in bonus bets. New customers only. Other Ts&Cs apply.

RELATED ARTICLES

FanDuel

Bet $5 Get $150

Place your first $5 bet to get $150 in Bonus Bets if your first bet wins!