Online sportsbooks want to draw in new bettors. The most productive way to do that is with new-user sign-up bonuses.
These can come in various forms, such as Deposit Bonuses, Risk-Free Bets, and Bet & Get offers. You may also notice that some operators provide No Deposit Bonuses.
In this review, I will help you understand the ins and outs of No Deposit Bonuses. You’ll learn about how it works along with wagering requirements and effective strategies to get the most out of this offer.
What Is a Sportsbook No Deposit Bonus?
To simplify, when an online sportsbook offers a new user a No-Deposit Bonus, they are essentially saying, “Here, take my money.”
All you need to do is sign up for an account and you’ll receive your bonuses. Like the name suggests, there’s no need to deposit money to unlock this offer.
Granted, you won’t be able to cash out that bonus and will have to play through it, but a No-Deposit Bonus is a sportsbook giving you free bet credits. If you win, you can keep your winnings from it.
No, they aren’t crazy. It is just a terrific marketing strategy. However, just because it is a marketing strategy doesn’t mean a new bettor can’t and won’t benefit. Just make sure you are on the winning end of your initial wager.
While No-Deposit Bonuses are less common than others — Deposit Bonuses, Risk-Free Bets, Bet and Gets — they are out there if you take the time and look.
We here at The Game Day have done all the hard work for you, and break down every type of no deposit bonus in our individual reviews.
How Do No Deposit Bonuses Work?
To obtain a No-Deposit Bonus, you must first find an online sportsbook that is promoting one as part of their new-user welcome bonus offer package.
To claim your No-Deposit Bonus, you normally only need to sign up and register using our exclusive promo codes. Just sign up and your No-Deposit Bonus will hit your account shortly.
While you can’t withdraw the No-Deposit Bonus — if you could, these sportsbooks and online casinos would be out of business — you can use the bonus to place wagers.
Please note that there may be Wagering (Playthrough) Requirements attached to the No-Deposit Bonus. Be sure to read through the terms and conditions beforehand.
For example, let’s say that you are provided a $25 no-deposit bonus at a 3x wagering requirement. This means that you’d need to rack up $125 in cumulative wagers in order to withdraw the $75.
Can I Withdraw My No-Deposit Bonus Winnings?
Although you cannot withdraw your No-Deposit Bonus immediately, you will be able to withdraw any winnings derived from it.
However, since all sportsbooks are not one and the same, each No-Deposit Bonus will have its own set of terms and conditions.
Some sportsbooks will allow a user to immediately withdraw their winnings but these sites are few and far between. Others will attach a Wagering or Playthrough Requirement on the winnings, which you must meet in order to withdraw.
What are Wagering Requirements?
A Wagering Requirement is a multiplier set by a given sportsbook that will signify the number of times you have to play through a bonus before you can withdraw any of your winnings.
Most no deposit bonus offers come with a low 1x wagering requirement, but some can come with higher wagering playthrough.
For example, if a sportsbook offers a $25 no deposit bonus, with 1x wagering, you will only need to wager that $25 in order to convert the bonus funds to your cash balance.
That same $25 bonus with 5x wagering will require $125 to be put in play in order to withdraw.
These will also be referred to as Playthrough Requirements.
Benefits of No-Deposit Bonus Signup Offers
Yes, of course, a No-Deposit Bonus is worth it. Who doesn’t like free money?
Let’s review some of the benefits:
- Bet with their money, not yours. This is terrific for someone new to the sports betting market.
- Since a No-Deposit Bonus is normally a smaller sum compared to a Deposit Bonus or a Risk-Free Bet, it could be packaged with other things as a part of the given sportsbook’s New User Welcome Offer.
- While some No-Deposit Bonuses limit what kind of wagers you can make, you can ultimately create a lottery ticket-type bet with your No-Deposit funds in an attempt to hit big. If you lose, who cares? It wasn’t your money.
- On the other hand, you might want to play it safe with your No-Deposit funds and wager on something that is a near-lock to bring you a favorable outcome. You won’t win as much, but you will essentially turn their free money into a slightly larger sum to build your bankroll with.
- This type of offer gives you an opportunity to test out the sportsbook before putting money into your account.
Where Can I Legally Get No Deposit Bonuses?
You can obtain a No-Deposit anywhere in the United States in which sports betting is legalized. Here are the following states in which mobile sports betting is legal:
- New Hampshire
- New Jersey
- New York
- Rhode Island
- Washington D.C.
- West Virginia
Choose More Than One Sportsbook Bonus
I don’t just write reviews for betting sites. I am an avid sports bettor. When I say avid, I mean extensive.
One thing that I have learned and can’t stress enough is the value of having multiple sportsbooks in your arsenal to wager with.
Not only will having multiple sports betting accounts give you the opportunity to shop lines so you can get the best return possible, but every sportsbook also has its own set of New-User Welcome Offers, as well as its own set of revolving promotions.
For example, if you want to begin with a bankroll of $2000, why put it in one book, especially if their welcome offer is a Deposit Match up to $1000. I would put $1000 there and take the other $1000 to use on another bonus.
Remember, these are one-time offers, so it’s a good idea to try to max out the sportsbook bonus.
This means that if the First Deposit Bonus is up to $1000, you should try to deposit $1000. If you can’t do this right away, wait until your bankroll is able to sustain such a deposit. It will be worth it for you in the end.
Another route to take is searching for all the sportsbooks that feature a No-Deposit Bonus. This is terrific if you have a limited bankroll to start out with.
If there are three sportsbooks with No-Deposit Bonus offers, you can build your bankroll with their money by using the No-Deposit funds to make close to sure-thing wagers. If those wagers hit, you then have some bankroll to play with at three different accounts.
I used to be okay with advising newbies to sign up to one sportsbook just to get their feet wet, but no more. It just doesn’t make sense.
There is so much free money, super boosts, and promotions out there that benefit the user. Your best bet is to hit the ground running and sign up for a few sportsbooks instead of one.