Sportsbook Bonuses and Promos for 2023
The biggest online sportsbook brands in the country descend on every state where sports betting becomes legal, armed with various bonuses and promos to attract new customers.
Bonus bets, refunds on losing bets, and deposit match bonuses are all part of this tried and true sportsbook marketing practice.
Here’s how you can claim all these sportsbook promos and bonuses and take advantage of everything the top online sportsbooks in the country are willing to offer you.
Best sportsbooks for bonuses
The biggest brands in sports betting are present in dozens of states, unveiling all kinds of bonus and promo offers to attract new customers. This is what the best sports betting sites are offering right now and the bonus codes you'll need to claim them.
Types of promotions and bonuses at sportsbooks
Here’s a look at some of the bonuses and promotions the best sports betting apps offer.
- Deposit match bonuses: This type of bonus matches your first deposit up to a specific limit. There will be wagering requirements attached, and sometimes they’re tough to clear, but anything you win after meeting the requirements will be yours.
- No deposit bonuses: This type of bonus comes as a small amount of site credit you can use to place a bet or series of bets. Wagering requirements will be attached, but it is often just once. Anything you win after meeting that requirement is yours.
- Bonus bets: This type of bonus comes as a small number of bonus bets. Wagering requirements may be attached to any winnings, and payouts on bonus bets rarely include the original stake.
- Bet and get: This type of bonus comes as bonus bets or site credit after you place a single minimum-sized bet. Wagering requirements may be attached to any winnings, and payouts rarely include the original stake (in contrast to standard cash bets).
- Bonus bet refunds: When you lose your first bet, this type of bonus comes as a refund in bonus bets or site credit up to a specific limit. Wagering requirements may be attached to any winnings, and payouts on bonus bets rarely include the original stake.
Ongoing promotions at online sportsbooks
Here’s a look at some of the different types of ongoing promotions at licensed online sportsbooks.
- Odds boosts: Increased odds on popular bets. Most licensed sportsbooks offer daily and weekly odds boosts.
- Profit boosts: A percentage profit increase on winning bets. Many licensed sportsbooks offer profit boosts on specific sports in season.
- Insurance: Bonus bet or site credit refunds on losing bets and parlays that miss by a single leg.
- Pools and contests: Free-to-enter contests that often have bonus bet or site credit prizes. Pick’em contests and props are most common.
How to use a sportsbook bonus code
Sometimes you need a promo code or bonus code to take advantage of the latest offer from a licensed online sportsbook. These promo codes are for new players to use during the registration process. You’ll find a space to enter the code on the registration forms.
Enter the promo or bonus code listed here to get the best bonus possible.
What are bonus bets?
Bonus bets are like site credit for placing wagers. Win with a bonus bet, and you’re not likely to collect the original stake (as you would with a cash bet) because the original stake wasn’t your money.
Plus, wagering requirements could be attached to any winnings you’ll have to meet before you can withdraw. Overall though, bonus bets allow you to place a bet without risking any of your cash.
How does bet insurance work?
A bet insurance promo refunds losing bets, usually with site credit. The terms and conditions will spell out precisely what bets qualify for the insurance promo. They’ll also tell you if you get cash, site credit, or bonus bets back.
If the refund is in bonus bets or site credit, you probably won’t get the original stake back. Plus, there could be wagering requirements attached to any winnings.
Terms and conditions for promos
The terms and conditions for any sportsbook promo will spell out precisely what bets qualify, if you’re in line for cash, site credit, or bonus bets, and if there are any wagering requirements attached.
Always read the terms and conditions to ensure you understand what you’re in for and how to extract the maximum value from any online sportsbook promo.
Sportsbook promos and bonuses FAQ
What is the maximum bonus you can get?
The terms and conditions for any online sportsbook bonus will tell you the maximum bonus you can claim. Bonuses are always limited to one per person. The terms will also tell you if the bonus is limited to one per household.
How many bonuses can I use at one sportsbook?
Online sportsbook bonuses are always limited to one per person and sometimes to one per household. However, you can take advantage of more than one ongoing promo at any sportsbook, up to the limits stated in the terms and conditions for each promo.
What are playthrough requirements?
Playthrough requirements stop you from taking a sportsbook bonus and walking away. These requirements prescribe exactly how many times you need to bet a bonus before you can make a withdrawal. After meeting any playthrough requirements attached to a bonus, anything you’ve won is yours.
What sports can I get bonuses/odds boosts for?
Sportsbooks offer you bonuses you can use to bet on any sport you like. The odds boosts they post may be sport-specific, but they always seem to have odds boosts surrounding whatever sports are in season. Check here for the latest NFL sportsbook promos, for example
How do I cash out bonuses or wins from bonus bets?
You cash out wins from bonuses or bonus bets the same way you would any other winning bet. Sportsbooks place all winnings in your account. Once you meet all the wagering requirements for a bonus or bonus bet, you can make a withdrawal request for any amount up to the total in your account balance.
Is there a maximum I can win from a sportsbook bonus offer?
The terms and conditions for any online sportsbook bonus will tell you if there’s a maximum win allowed. The terms will also list any odds restrictions or expiration dates.
