Sports Bet Bonus

All You Need to Know About Sports Bet Bonus Offers and How to Use Them

A sports bet bonus is essentially the way a strong sportsbook looks to entice you to sign-up with their services. It’s their way to reward loyal player. It is crucial that you get to know them well and how to use them in your best interest.

If you, like us, are mad about sports and like to further elevate your enjoyment of a great match-up with a strong wager, then you’ll want to locate the best sportsbook around. You’ll want to find a sportsbook that is legal in your area and one that offers you the best deals around.

Finding a great sportsbook is harder than it seems. As the American market for sports betting increases, as each state legalizes the industry and provides licenses for sportsbooks, so does the number of sportsbook providers. Some are high quality and totally trustworthy. Others are less reputable and do not seek to enhance your sports betting experience. They are just looking to make a quick buck.

CasinoWatchMI is here to guide you on your journey. That journey starts by finding the best sportsbook. This involves working out how each provider’s sports bet bonus structure works. You then need to learn these rules. This will help to maximise your enjoyment and balance sheet.

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Up To $1000 Risk Free Bet

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20% Up To $1,000

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100% Up to $250 Deposit Bonus

1x bonus amount

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Get 2 Risk-Free Bets Up To $2,000

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Risk-Free Bet Up To $1000

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100% Deposit Match Up to $500

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100% First Bet Match Up To $1,001

25x bonus amount

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What is a Sports Bet Bonus?

A Sports Bet bonus is a sportsbook’s way of dangling a reward for your business. It’s a standard practice of all sportsbooks and without such an incentive you are likely to look elsewhere. Sportsbooks of every type will look to outdo each other in order to win your custom. As a sportsbook user you are hugely important to their business model and you should treat them accordingly by making sure you only join a sportsbook that is actively looking to bargain for your business.

There are many types of sports bet bonuses, in fact it’s something of a maze trying to understand what they are and how they work. To help guide you through this maze CasinoWatch has come up with a helpful guide that should answer all your questions on the matter.

What are the Different Types of Sports Betting Bonuses?

The number of different types of sports betting bonuses grows all the time. Just as providers seek to engage their user base with tempting deals, so they also come up with imaginative ways of producing sports bet bonus types. However, some of these are standard across the board. Here are a few examples.

  • Deposit matching
  • Sign-up bonuses
  • Risk-free bets
  • No deposit bonuses
  • Free bets
  • Parlay insurance
  • Boosted odds
  • Reload bonuses

Sports Bet Bonus Deals Explained

Now let’s dig deeper and explain what each of these are and how they work.

Deposit Matching

When you sign up for a sportsbook, or indeed a casino (as a number of the bonuses offered in sports betting circles are pretty much the same in the casino field), you will start by having to make a deposit. A good sportsbook will offer you a deposit matching option and it works like this. If you make a deposit of $100 then as an incentive the provider will ‘match’ that amount and add another $100 to your account.

Be aware that the amount in deposit matching is almost always capped, so pay attention to the limit offered.

Sign-Up Bonus

A sign-up bonus, as the name suggests, is a bonus offered to a new user. The bonus is usually an amount that can only be used on certain types of bets and is commonly referred to as a welcome bonus. These are offered only once and are basically a sportsbook’s way of trying their hardest to get your business ahead of their competitors. Always pay close attention to the terms and conditions associated with these offers. Here is a selection of the sign-up offers that relate to sportsbooks licensed in Michigan.

Risk-Free Bet

A risk-free bet is an intriguing offer that is handed to new users as well as existing ones. These can come in many forms but the overriding idea of them is as follows. Typically a risk-free bet is a sum of money, or credit, applied to your account. You use this credit (and the size of this varies greatly) and you can place it on a risk-free bet. The odds offered within these risk-free bets are usually restricted to avoid any large losses.

The idea is you place the risk-free sum on a bet and if you win, then your account is credited with the amount you won (though this can again be in the form of tokens/free bets, and not accessible cash). If your bet loses you won’t, usually, suffer any losses yourself.

It’s crucial you pay attention to the small print on such offers as sometimes the ‘risk’ is split and you could end up having to cover a portion of the losses yourself. The good thing about risk-free bets is that they are offered, by some sportsbooks, to existing players (sometimes around premium sports events) as well as new sign-ups.

No Deposit Bonus

In many ways a no deposit bonus, or offer, is the holy grail of sports betting bonuses. It’s, at its core, an unbelievable deal. It works like this. Whereas most sportsbooks will offer you a bonus or promotion once you make your first deposit, some (and very few) offer a no deposit bonus. This is designed to lure you in with the promise of what looks like a great deal.

So you sign-up for a provider and even before you’ve deposited any of your own money, a sportsbook will offer you a no deposit bonus. The bonus will be in the form of a $10, $20 or even higher, free bet. The premise being you can try out the sportsbook before you’ve even used a cent of your own funds. Sadly there is no such thing as a free lunch. If you happen to win the bet that you placed via your no deposit bonus, or free bet, you are unlikely to be able to access the winnings.

Instead you’ll have to ‘play-through’ a number of times, using your own money, before you get close to collecting. So essentially you do get to keep the winnings but only after a number of other actions have been completed. This isn’t to say that a no deposit bonus isn’t a very good promotion, just don’t expect to see the fruits of this instantly. Also it’s worth noting that not all sportsbooks offer such promotions.

Free Bets

A free bet is often offered when you sign-up with a new provider. It usually comes in a low-value amount, say $5 or $10, perhaps $25. These are usually accompanied by a bonus code that you’d apply in your signing up process. Now if you happen to win using the free bet tokens provided then your account will be credited. Usually you won’t be able to access these funds unless you’ve played through them a number of times. You can however, in most cases, use these sums for other free bets. This will then increase your capital more than once.

Parlay Insurance

A parlay, which is essentially a multi-tiered series of bets (otherwise known in some regions as an accumulator), is a great way to maximize your potential winnings. Unfortunately winning a parlay is very tricky. It requires a number of results, or predictions, to occur before you win the entire wager. Think of it this way. You’ve placed a bet on which team is going to win the Superbowl and you’ve looked to sweeten the deal with an additional bet on the MVP as well a bet on the points spread and perhaps even another bet on the Over/Under.

Now, your chosen team may indeed win the Superbowl and you may even have selected the right MVP, but you may fall short on the other aspects needed to complete the overall parlay. This can be a real blow. This is where Parlay Insurance comes in handy. It’s offered by a number of sportsbooks and effectively it insures you against losing one leg (rarely more) of your parlay. So perhaps you got five of your bets right but not the sixth.

With parlay insurance you’ll still win on almost completing the parlay, although the overall winnings will be a great deal less than you would’ve won if all the bets went your way.

Boosted Odds

The offer of great odds is always likely to attract your attention and boosted odds promotions are often provided by sportsbooks. These sportsbooks make these even more attractive as they usually relate to very likely outcomes. So for instance there could be an MLB match-up between a World Series challenger and a lesser opponent and the odds are strong on the favorite. A boosted odds offer will improve, sometimes dramatically, the moneyline so that the winnings from backing the favorite could increase significantly.

Pay close attention to the terms and conditions on a boosted odds offer as the winning sum could be tied up behind a certain amount of ‘play-throughs’ or could be paid out in free bet tokens.

Reload Bonuses

A reload bonus is perhaps the most straightforward and easily digestible offer around. It’s a bonus offered to an existing player and is a sign of the provider rewarding your loyalty to their brand and is a standard promotion offered by most sportsbooks.

Essentially you will get rewarded with a sum of money, or tokens, for every time you reload your account with funds. These act as an incentive for a player to repeatedly use a provider and if you are an experienced bettor then these are a very helpful bonus indeed.

How Does the Sports Bet Bonus Code Works?

Selecting a sportsbook that provides the best sports bet sign up bonus is the first step towards taking advantage of the bonus. Gamblers must thus begin by looking through sportsbook applications in the App Store or Google Play store. In addition, sportsbooks provide online betting options for those who prefer to place bets.

After that, users must create an account and begin placing wagers. Many gamblers get their hands on the welcome bonus during the registration procedure. You may use the sportsbook promo code on the first or third registration stage to get a special welcome bonus.

But, players must also meet the terms and conditions of the best sportsbook promotions. Bonuses may start as soon as players put their initial money into their accounts. Wagers need to make sure they deposit enough to acquire their desired bonus money out of the sportsbook if that is the situation.

Gamblers need to keep in mind that if a bettor’s initial wager triggers off the bonus, then players should use caution. On the other hand, if you’re willing to take a risk on an underdog, a loss refund is a fantastic strategy to use. Because of this, gamblers should be prepared to prepare in advance.

You may make first withdrawals once a wager wins. A bettor’s account will have a withdrawal section next to the deposit part. There is no need for gamblers to go to the site, choose a payment method, and wait. Because sportsbooks need to know where the money is heading, withdrawals take longer than deposits. A few business days are required for them to be released.

Players need to download a brand’s sportsbook app and not mistake it with a DFS site, an online casino, or another state’s app.

Terms and Conditions of the Sports Bet Deposit Bonus

Sportsbooks want two things from you: signing up and wagering. That’s when the fine print in the terms and conditions comes in. Despite its seeming worth, the bonus needs you to satisfy certain conditions to gain from it.

To keep you wagering, the terms and conditions state that you must meet specific criteria.

Wagering Requirements of Sportsbooks with Sign Up Bonus

A Sports bet sign up bonus offers are sometimes accompanied by a redemption or play-through condition. Because you’ve invested money, sportsbooks will not hand it over to you without a fight. Your potential employers are curious whether or not you plan to participate in any betting.

To cash out your bonus funds, you must wager a certain number of times the amount of your initial deposit. For example, suppose a sportsbook gives a 10x roll-over requirement on a $1000 initial deposit match promotion. In that case, you will have to wager $10,000 before cashing out your bonus money.

Simple, right? It all depends on how much time you have available to work.

Sports Bet Bonus FAQs

What does ‘Play-Through’ Mean?

Play-through requirements are applied to many sports bet bonuses. In simple terms this basically means you have to complete a series of actions. This could mean, as an example, you have to place a number of bets. You may also need to use up a certain amount of funds. Either real money or promotional funds are applied to your account. Alternatively you may have to reload your account a number of times. It’s the sportsbooks’ way of maximizing your involvement with the brand before you can feel the benefits of promotions they have offered.

How do I Collect By Sports Bet Bonus?

These are usually applied to your account on sign-up. When completing the sign-up you may be asked to enter a bonus code that confirms a certain bonus. Be sure to complete these on sign-up as frequently the best offers relate to your first interaction with a sportsbook provider.

Do all Sportsbooks offer bonuses?

Almost all. No reputable sportsbook would look to secure your business without offering some form of promotion. So make sure to look closely before signing up.

Are Sportsbook bonuses and promotions subject to any restrictions?

Yes. Almost all sportsbook bonuses and promotions will require a certain set of actions before you can secure the full benefit of the deal that is being offered. These instructions are usually very dense, and sometimes deliberately complicated, so always read the small print. As an example a site may offer a very large bonus for signing up. However the small print may stipulate that you have to deposit a large sum. Without doing so you won’t be able you can access their promotion.

Can I Get my sportsbook bonus via my mobile or cell phone?

Yes. All good sportsbooks will offer the same promotions on mobile devices as they do on their desktop version. In 2021 more than 60% of sports betting activity occurs on cell or mobile phones. All brands of any quality will look to replicate the service of the desktop directly to your mobile devices.

The Final Word On Sports Bet Bonus Deals

A sports bet bonus is of vital importance to both sportsbook providers and those who use their services. It’s a conduit that helps attract players and also keep them with their chosen sportsbook and in a crowded marketplace it’s the way each of these brands gets to attract your attention. You should shop around and find the best offers around before you hit the ‘sign-up’ button you see flashing on your screens.

Learning as much as you can about each of the types of promotions out there will help you make an informed decision about which sportsbook to join. Many bettors stick with a single brand for a long period of time. Very few choose to run more than one. Therefore it’s of the utmost importance you don’t get reeled in by an offer that is in fact too good to be true.

Choose wisely and do your research. Take advantage of the many helpful guides, and exclusive offers, you’ll find at CasinoWatch.