Betfred Bonus Code – Best Betfred Sportsbook Promo Code in Colorado, Iowa, & PA

Your Guide to the Betfred Bonus

By Jason Radowitz

Sep 11, 2021

Betfred is a huge brand in the United Kingdom and has now launched in three states in the US with two more on the way. Since they’re new to the market and have plenty of competition, Betfred has several welcome offers to entice new users.

Before depositing and wagering on Betfred, make sure to check out the new user offers in each state to maximize your earnings.

Betfred Bonus Code

Betfred is offering a 100% first wager match up to $500 in Colorado and Iowa as well as a 100% first deposit match up to $400 in Pennsylvania. All you have to do is click “Get Bonus” to activate the offer. We’ve shared all the different promotions at Betfred below.

Betfred Sportsbook

Betfred Sportsbook

  • Daily Odds Boosts

  • Variety of Markets & Bet Types

  • Live Betting, Same-Game Parlays, & Cash-Out Features

Get Up To $500 FREE

Wager Match Bonus

No code requiredGet bonus

New Customers Only, 21+. T&C’s Apply.

Betfred Sign Up Bonus

To qualify for the signup bonus at Betfred, you will have to sign up to the sportsbook and deposit up to $400 to maximize the bonus if you’re in Pennsylvania. If you’re in Colorado or Iowa, you’ll need to place your first bet up to $500 to maximize the bonus.

Betfred No-Deposit Bonus

There is not a no-deposit bonus at Betfred. You will have to deposit money in order to receive money from the site.

Betfred Deposit Bonus

Betfred will give a 100% deposit match bonus of up to $400 for first-time depositors in Pennsylvania. With this promotion, if your first deposit is $400, you would receive another $400 in bonus bet form in Pennsylvania only.

Betfred Risk-Free Bet

Betfred doesn’t offer a risk-free bet but offers something even better called a “wager match” bonus for new users in Colorado and Iowa.

Betfred Wager Match Bonus

A typical risk-free bet is wagering on one side and if that side loses, you get your money back. With a wager match bonus, Betfred is offering your money back regardless of whether you win or lose. All new players get this when placing their first wager in participating states (currently Colorado and Iowa).

Betfred Sportsbook

Betfred Sportsbook

  • Daily Odds Boosts

  • Variety of Markets & Bet Types

  • Live Betting, Same-Game Parlays, & Cash-Out Features

Get Up To $500 FREE

Wager Match Bonus

No code requiredGet bonus

New Customers Only, 21+. T&C’s Apply.

Benefits of the Betfred Bonus

Betfred has two welcome promotions depending on your location that can seriously help add some dollar signs to your bankroll. They offer site credit up to $400 on your first deposit or a $500 wager match bonus depending on which state you’re in.

  • This is a bankroll builder!
  • Tons of opportunities to make free, risk-free money.
  • You’re playing with house money because Betfred wants your business.
  • Win or lose, you get paid with this Betfred sports betting promo.
  • You can guarantee a profit by using hedging, arbitrage, and the free bet calculator.

The Best Way to Use the Betfred Promo

If you’re in Colorado or Iowa, you’re going to get up to $500 risk-free regardless of the outcome of your first wager. You can bet confidently knowing that no matter what happens with your first wager, you will make that money back.

If you end up losing your first wager, however, you will have to play with the site credit before cashing out. The free $500 will need to be used once before you can think about cashing out. If you want to guarantee money, you can look into using the free-bet calculator. You’re unlikely to profit the full 100 percent, but if you can get a 60-70 percent conversion it’s potentially a better option than sweating out a big wager.

Basically, if you believe in your process and think you found a wager that will win, there’s no problem with going for it and trusting your gut. I highly advise those to look to beat the book by using +EV betting. This is finding positive expected value bets against the sharpest book in the world, Pinnacle.

To do this, you will look for a major discrepancy between lines on Betfred and Pinnacle (or you can use BookMaker). If, for example, the Lakers are +140 on Betfred but only +105 on Pinnacle, that would be a positive expected value bet for the Lakers on Betfred, because the line should probably be around +105 to +115 range. Getting +140 is really good odds and you’d have an expected profit in the green by placing that bet.

So if you’re in Colorado or Iowa, you can wager on anything and still get a free bet. If you’re looking to guarantee money, use the free bet calculator. If your wager wins on Betfred, you’re going to win even more money, so make sure to bet a big underdog for the highest conversion possible.

If you’re in Pennsylvania, you can hedge between two lines that are low-holds. By doing that, you’re losing little to no money and then making a $400 free bet. Then with that free bet, you can use the free-bet calculator to guarantee a profit.

Of course, you will make more money if you wager on just one game separately and it wins, but hedging your bet guarantees a profit when wagering on one game doesn’t.

Betfred Free Bets vs No-Deposit Bonus

A no-deposit bonus is when a sportsbook adds money into your account before placing any type of wager. This is great because you get money strictly for opening up an account. This locks bettors into their site and makes them comfortable.

By wagering site credit before depositing, it gives bettors reassurance that the sportsbook is legitimate and will not scam them in any way. Once a new bettor can watch the process unfold between wagering, gaining money into the account, and so forth, they’ll be more comfortable wagering real money on the site.

Most sportsbooks won’t go that route, however, which is understandable but also lame. With most sportsbooks staying away from no-deposit bonuses, Betfred doesn’t feel the need to add their own. They offer free bets to new users who deposit money and place a wager with at least $10 and a maximum of $500 depending on which state you’re in.

At most sportsbooks, if your first wager loses, they will send 100 percent of your wager back as site credit, meaning your first wager is risk-free. But if you’re using Betfred in Colorado or Iowa, you will get site credit back even if you win.

That’s what helps Betfred stand out against their other competition. They don’t have a large selection of promotions, so they have to think outside of the box to get new users on the site.

With free bets, you are guaranteed to make your money back if you lose your first wager. If you win, you get to keep your winnings and you’ll be much happier than having to play with site credit again. If you win on Betfred in Colorado and Iowa with your first wager, you will get site credit on top of your winnings, which is one of the most unique risk-free bets around.

How to Redeem the Betfred Bonus Code

If you’re looking to redeem your Betfred promotion, follow these steps:

  1. Click the “Get Bonus” button on our site to activate the welcome bonus.
  2. Depending on which state you’re in, you will get a first wager match or a first deposit match bonus.
  3. Once you’re at the sign-up phase, you will need to confirm your identity.
  4. If you completed these steps online, you can download the app on your phone and wager from there after logging in.
  5. Make sure to deposit money and wager away to meet your requirements.

Do Betfred Promos Expire?

Yes, the free bets and site credit will expire depending on the state you are in. Betfred asks that the free bets be used within seven days of being credited to the player’s account. In Pennsylvania, however, you have 60 days to use the bonus bet before it expires. The 100% deposit match is given more time to use because there’s a 1x rollover for those who get the match deposit.

What Are Wagering Requirements?

The free bet wager needs to have minimum odds of -200 and also needs to be used within seven days of receiving the free bet. It should also be known that wagers on teasers and Betfred Boosts are not eligible for the free bets. The free bet is only valid on your first cash straight bet or two-team parlays after registration. Again, that parlay still needs to be -200 minimum odds.

For Pennsylvania bettors, if you make an initial deposit of $100, you must have combined wagers of $100 before being able to use the bonus bet. You will receive the 100% match on your first deposit up to $400 in Bonus Bet form.

Is There a Way to Track Your Bonus Progress?

On Betfred, the site really doesn’t give out many bonuses beyond the first deposit and wager promotions. However, you can track your progress betting different odds boosts and other wagers by looking at your betting history on the site.

When Will I Receive My Betfred Bonus Credits?

Regardless of which state you’re in, you should receive your bonus within 72 hours.

Betfred Promotions

If you’re looking for new promotions every week, Betfred won’t be that site. However, they do have some interesting offers depending on the state you’re in. In Colorado and Iowa, Betfred asks their customers to follow them on Twitter to get the latest news and promotions.

Betfred NFL Promotions

Betfred’s main NFL promotion is to deposit a minimum of $600 and get 50% back up to $1,000 in Promo Cash over four weeks after making qualifying wagers each week. This is offered to users in Colorado and Iowa.

Betfred also doubles your winnings on player touchdown bets if your player scores a second touchdown.

Betfred NBA Promotions

Betfred will have NBA boosts on all of their sites when the season starts, so be sure to check back soon.

Betfred MLB Promotions

Betfred is all about boosting odds. They’ve done this all year for MLB bettors, which has been helpful to those who are betting positive expected value bets.  Still, this isn’t really considered a promotion. While these odds are good, Betfred limits customers of up to $25 to bet their super boosts.

Betfred NHL Promotions

Just like in the MLB, NBA, and NFL, Betfred offers plenty of super boosts when the league is in season, so make sure to check in soon.

Betfred Sports Promotions

While Betfred appears to be more focused on their casino players, they do have some other interesting promotions on the sportsbook such as a Fanatics gift card giveaway, tickets giveaways, and a bet $50, get $50 on any sport. Be sure to check back often, as they do update their promotions somewhat frequently.

State Specific Bonuses

Betfred is in three states currently but will be in Arizona and Nevada shortly, so we’ll update this page as soon as those bonuses become available. See below for Betfred’s current state-specific bonuses.


Pennsylvania has a different promotion compared to Colorado and Iowa. As explained above, PA users can get a 100% first deposit match bonus up to $400. This is the only state offering that promotion for Betfred at this time.

Colorado & Iowa

In Colorado and Iowa, Betfred is offering new users a 100% first wager match up to $500. This means that no matter how your wager turns out, you will earn up to a $500 free bet.

Betfred Sportsbook

Betfred Sportsbook

  • Daily Odds Boosts

  • Variety of Markets & Bet Types

  • Live Betting, Same-Game Parlays, & Cash-Out Features

Get Up To $500 FREE

Wager Match Bonus

No code requiredGet bonus

New Customers Only, 21+. T&C’s Apply.


By Jason Radowitz

Jason Radowitz is a jack of all trades when it comes to writing sports. Jason writes and bets the MLB, NFL, NBA, NCAAF, and NCAAB when the sports are in season. Currently, he's a Writer and Betting Analyst for The Game Day providing daily content in the MLB. Earlier in his sports career, Jason was a graduate assistant for the University of Men's Hartford Basketball team using analytics and numbers to help put together the winningest season in program history. With his articles, you will be sure to get an analytical approach.