What sports betting promos are being offered to Kentuckians? And what is a bonus bet?

LOUISVILLE, Ky. (WDRB) -- As mobile sports betting officially launches in Kentucky, the seven active, approved applications are offering generous promotions.

WDRB News has complied a list of those sportsbooks and their respective promotions for new Kentucky customers.

Nearly all of the mobile sportsbooks are offering 'bonus bet' credit in their respective promotions. 

Bonus bets are like credits for sportsbooks.

If you were to put a $10 bet on something with even money odds with cash, you'll win $10 plus get your $10 back," explained Stephen Andress, managing partner of TheLines.com. "With a bonus bet, if you make the same bet, you won't get $20, you'll get $10 back. So, with a bonus bet, you only get the winnings back."

However, sportsbooks use bonus bets in different ways.

Bet365, Barstool, BetMGM, Caesars and Fanatics force the user to use the entire amount on the same bet (i.e., if you have $20 bonus bet, you must use the entire $20 bonus bet on a single wager).

DraftKings' $200 bonus bet promotion will be awarded in 8 $25 bonus bets. Customers can split up the eight bonus bet amount in any way they'd like.

FanDuel allows customers to decide the amount of any bonus bet used for a given wager. 

"With a bonus bet, you only get the winnings back, but there's obviously no risk to you because the sportsbook is giving you that bonus bet to use as a promotion," Andress added.

Several of the active mobile sportsbooks are offering additional promotions for users registered for the applications. Users can explore promotions on each sportsbook's website or app. 

In the first two weeks of in-person sports betting in Kentucky, more than $4.5 million was wagered.

Resources are available by calling or texting 1-800-GAMBLER (1-800-426-2537), visiting  KYCPG.org or emailing [email protected].