Over the past several years, a plethora of legal sportsbooks have cropped up across the country. Each sportsbook’s goal is to differentiate itself from the competition, and their most effective tools are welcome bonuses for new signups.
These sports betting offers come in different variations including deposit bonus bets. Here’s a look at some of the best.
Are Sportsbook Bonuses Worth It?
Yes, of course, sportsbook bonuses are worth it! Some sites offer reward bets that usually range from $500 to $5,000. That means if you bet $5,000 on a single wager and win, you’re making bank. If your wager ends up losing, the sportsbook gives you a site credit or a bonus bet as a second chance.
You can also get first-deposit bonuses, where the sportsbook matches your first deposit up to a maximum amount, as well as no-deposit bonuses, which don’t require any deposit. These are terrific offers that help further pad your bankroll.
Best Sports Betting Sites With Signup Bonuses
DraftKings Sportsbook
DraftKings is one of the top sportsbooks in the US. With sports betting, daily fantasy and even a casino, it is becoming a jack-of-all-trades in the online gambling space.
The sportsbook is available in more states than any other and regardless of your expertise level, DraftKings offers a user-friendly experience where you can find almost any bet for any market. Currently, you can use the DraftKings promo code to activate the Bet $5, Get $300 offer.
FanDuel Sportsbook
FanDuel Sportsbook offers myriad ways to bet on a multitude of sports and may have the best app interface in the sports betting business. They have provided new users with welcome bonuses like Bet & Get offers.
There are many ways their bonus could be used, you could bet on a safe choice or a longshot underdog. However, due to the nature of these giveaway bets, your best bet is to shoot for the moon because if your bet loses you are given a site credit that can be used as if it were a cash deposit.
FanDuel is a great choice because not only does it offer a wide variety of sports and events to wager on, but also an unmatched selection of player props. It is constantly changing the game through innovation that is making online betting more convenient and fun.
Right now, you can get their Bet $5, Get $200 offer.
Fanatics Sportsbook
Fanatics Sportsbook offers a unique welcome bonus that spans multiple days and bet types. Depending on your state, Fanatics is currently offering up to $1,000 in “No Sweat Bets” — 10 separate $100 wagers that are reimbursed as bonus bets if they lose.
This bonus stands out because it gives users the chance to explore Fanatics’ growing platform without the pressure of losing everything up front. It’s spread over 10 days, so each day you can place a qualifying wager and get refunded in bonus bets if it doesn’t win — making it ideal for users who want to pace their betting activity.
Fanatics features a wide range of fixed-odds bets across major sports leagues, as well as live betting options. This welcome offer allows users to get comfortable with the sportsbook while taking advantage of risk-managed opportunities to bet on their favorite games.
Like most bonus bet offers, Fanatics refunds your stake as a bonus bet if you lose, and only the profit is paid out on winning bets. However, what makes Fanatics different is the ability to split your bonus bets into smaller wagers, giving you more control over your betting strategy.
One major benefit is that if you lose a bet on Day 1, you’re not out of the promotion. Fanatics gives you 10 days of chances, meaning you can spread your risk and stay engaged longer — a smart structure for casual and experienced bettors alike.
Caesars
Caesars Sportsbook is a fan favorite in the sports‑betting world and now rolls out a highly publicized new‑signup bonus: Bet $1, Double Your Winnings on Your Next 10 Bets. Just use promo code GAMEDAYDYW when signing up, place a qualifying bet of $1 or more, and you’ll receive 10 profit boost tokens that double your winnings—up to $25 per bet—on your next 10 wagers.
Caesars, which acquired the popular UK‑based William Hill sportsbook in August 2021, offers a wide array of betting markets—including international sports—and also features a robust rewards program. Users earn tier credits and unlock rewards redeemable at Caesars properties across the U.S. and abroad.
The sportsbook continually updates its new‑user promotions, and this one is among the most innovative yet. With boosted winnings spread across 10 bets, it encourages exploring various games and wager types, all through an intuitive, user‑friendly app with competitive odds.
As with most sportsbook promotions, Caesars pays out winnings only—your original stake isn’t included. The key benefit here is flexibility: those 10 profit‑boost tokens can be split across smaller bets, helping spread risk and maximize engagement.
One common drawback of some sign‑up offers is one‑and‑done risk: lose your first bet and you’re left out. Caesars avoids that pitfall by giving you 10 opportunities to boost your bankroll—ideal for bettors who want a prolonged edge and multiple shots at success.
BetMGM
BetMGM has a terrific bonus to go along with daily and weekly offers that keep users coming back. The website frequently updates its new sign-up offer, and some vary from state to state, but it is offering users a $1,500 bet with the bonus code “GAMEDAY."
The site features an extensive array of betting markets, bonuses and rewards. It also feature some of the deepest NFL Futures betting options around, which makes this bonus extra appealing for football fans.
NFL Futures can be tough to predict given the sport’s high injury rate and overall volatility, but BetMGM’s reward bets allow gamblers to take their shots.
In addition to their standard sign-up offer, BetMGM frequently offers event-specific offers such as bet $1 and get $150 in bonus bets if a player scores one point. Typically, these offers require only a $10 deposit, and it is a great way to build your bankroll with a small amount of money.
BetRivers
BetRivers is fast becoming one of the major players in the online sports gambling space. It makes betting on sports a cinch, especially for new and novice gamblers, thanks to its unique index of terms that some might’ve been too intimidated to ask about.
The site also has a great new signup offer where users will receive a reward bet up to $250. This means that interested sports bettors can get a second wager that is equal to the first if their initial bet is unsuccessful.
The BetRivers app and online sportsbook is available in several states and includes competitive odds with a slew of offers, making it one of the best sportsbooks around.
Best Betting Offers
There are many offers that sportsbooks give to first-time depositors. Here’s a helpful ranking of which are the best.
1. Sports Betting Deposit Match
A deposit match bonus is universally considered the No. 1 sportsbook promotion, since users receive extra funds whether they win or lose (unlike other reward bets).
When you get a deposit match bonus from a sportsbook, you don’t need to worry about your first wager’s outcome. Sure, you’re going to root for your wager regardless, but your bonus money isn’t reliant on winning or losing, as you’re credited the bonus upon making your deposit.
For example, DraftKings - a top-rated deposit match sportsbook - is currently offering new users a 20% deposit match up to $1,000 when they join. It’s a great way to boost your bankroll right from the start.
Again, you still need to play through that bonus money before withdrawing it, but there’s less pressure when making big wagers since the bonus is already secured.
The most important thing to look out for is whether your deposit match comes in the form of cash or bonus bet credits. Cash is most beneficial to sports bettors because you receive your stake along with your winnings. With reward bets, you only get the profit — not your original stake — if your wager hits.
2. Bet & Get
Bet and gets are especially popular these days. In a bet and get, sportsbooks typically give a good amount of site credit, usually about $100 or $200, in exchange for a minimal deposit ($10) and first wager ($1 or $5).
Usually bet and gets are paid out in site credit — DraftKings’ Bet $5, win $200 pays you back in five free $40 bets — which gives you a long leash if any of those wagers are successful. That’s why these are great betting promos and worth taking advantage of.
3. Bonus Reward Bets
are great because if you end up losing, you’re guaranteed to get your investment back as site credit. There are two types of these wager rewards: (1) Those that are reimbursed in site credit, and (2) the ones that pay you back in a second bet. The ones that reimburse in site credit are preferable.
However, a second wager equal to the first amount isn’t bad. The catch is, usually there are minimum odds required on the initial bet and most apps will only pay out winnings as opposed to winnings and the stake wagered on the second bet.
For example, if a bettor picks the Lakers at +100 with $500 and lost, he or she would receive a $500 bet credit (had the Lakers won, the user would’ve returned $1,000). If you wager that $500 on another +100 bet, you’ll only receive $500 in return, not $1,000.
Sometimes, customers get money to wager upon signup without risking any of your own. But you usually need to meet a wagering requirement to withdraw your winnings, or you will need to deposit in order to withdraw.
Unfortunately, these bonuses tend to be low amounts ($10 or $20), and therefore the potential for big winnings is rather limited. Plus, bet bonuses are rarely offered since sportsbooks typically want bettors to invest their money to play.
However, bonus bets can be useful as trial runs for a new sportsbook. You can use these bet credits on a longshot parlay to try to hit that high payout.
How To Pick the Best Betting Offers
When searching for the right sportsbook bonus for you, you’ll want to consider these criteria:
Type of Bonus
When you’re getting a deposit bonus, is it going to be an actual deposit bonus? Is it a bet & get type bonus? We ranked the types of bonuses above. The best bonus is a deposit bonus, though bonus offers are useful as well.
Wagering Requirements
Make sure to check the wagering requirements. If a site is going to offer a bonus five times, it’s likely not worth the time and energy unless you know you can guarantee yourself money. Finding bonuses that only require one rollover is crucial. Most legal sites that give bonuses for first-time depositors have wagering requirements just one time, which is good.
Wagering requirements can include:
Odds Restrictions
These bonuses typically only work if you wager on -200 or longer, which means like +100 or +300. If a site has restrictions, it makes it harder to win.
Time Constraints
If you’re visiting a different state and want to bet, make sure you look at time constraints. If you can only use your bonus within five days after you make the wager, you must make sure you’ll be physically present in that state to make the final wager so you can withdraw it when you leave.
How To Use Sportsbook Bonuses
Cash Deposit Bonus
The best way to ensure you receive the most of your cash deposit bonus is to spread your bonus on multiple low-upside wagers at odds of -200 or shorter. Spreading out your bets into multiple small wagers rather than one large wager reduces your chances of losing a large amount.
Bet Ticket Deposit Bonus
For deposit bonuses where you are rewarded in tickets or tokens for bets on the house, your best strategy is to use your cash balance as you normally would. For your reward bet balance, you should spread your bonus bets out if possible, on several longshots. If you have only one bet on the house, you should use it on either a small underdog or a large underdog, based on your risk tolerance.
Bonus Bet
For a bonus bet, you should use it on a large longshot. This is because this offer eliminates financial risk with your wager, so why not take a shot on an underdog?
Do Sports Betting Bonuses Have Restrictions or Limitations?
Every site has different words in fine print but for the most part, sites are going to limit you based on the odds. They don’t want customers putting a reward bet on a -5000 favorite. Typically, they’ll require a wager of around -200 or longer to qualify for most offers.
But again, read the terms and conditions to understand what is required for your specific book.
What Are Wagering Requirements?
A wagering requirement is a multiplier that represents the number of times you must play through a bonus before you are able to withdraw any winnings.
Like we’ve been talking about, these wagering requirements apply to an account from the time a bonus is accepted and/or applied to an account.
Bonus Bets vs No-Deposit Bonuses
Bonus bets and no-deposit bonuses are completely different. For instance, many online sportsbooks will dole out reward bets to users who bet up to a certain threshold or are regulars. No-deposit bonuses are typically given to new signups in states where sports betting is coming.
Most no-deposit bonuses are small, like $10 or $20, and rare because sportsbooks typically want users to at least put in some funds before they receive more money.
Sportsbook Bonus Code vs Bonus Code
Some sites will ask for a bonus code while others call it a bonus code. Each term means the same thing.
These codes are typically associated with a marketing strategy like offering deposit bonuses.
Do You Need A Bonus Code?
When it comes to bonus codes, these sportsbooks don’t necessarily ask you to enter one. Most times, unless it is specified, you simply need to click on a link or a “Get Bonus” button from our site to activate the offer.
There are also times the sportsbook will have a code inserted when you first sign up, which should be good to go whether you click on a link or opt into a bonus. Though I recommend clicking on one of our “Get Bonus” links just to be safe.
Make sure to read the fine print when depositing for the first time but understand that these sportsbooks aren’t here to scam you in that regard. If you need any help with your sign-up bonus, the customer service chat is very helpful in making sure everything works. As a new customer, the apps want you to be happy, so you continue using their product.
Make sure to read the fine print when depositing for the first time, but understand that these sportsbooks have your best interests in mind.
Where Can I Legally Bet With Sports Betting Bonuses?
If you’re looking to legally bet with sports betting bonuses, you must be in these states. More and more states are legalizing sports betting, so it’s only a matter of time before more states are added to this list. Once that happens, more people will be eligible to receive these bonuses.
- Arizona
- Colorado
- Connecticut
- Illinois
- Indiana
- Iowa
- Kansas
- Louisiana
- Maryland
- Michigan
- Nevada
- New Hampshire
- New Jersey
- New York
- Ohio
- Pennsylvania
- Rhode Island
- Tennessee
- Virginia
- Washington D.C.
- West Virginia
- Wyoming
Look for More Than One Sportsbook Bonus
There are several different sportsbooks that offer sign-up and deposit bonuses. This means that you should sign up for multiple betting sites so that you can take advantage of the bet credits provided through the welcome bonuses.
If you don’t have the capital to join all at once, try to join one or two per month to reap the benefits from each sportsbook.
Remember though, these are one-time offers, so it’s a good idea to try to max out the bonus. Once you’re ready to do so, sign up for another sportsbook to reap the rewards!
You can use your different accounts to compare odds, putting you in a better position to succeed in sports betting. Taking advantage of several bonuses is the way to go.