If you’re having trouble getting your head around the different types of bonuses, you are not alone. So if you want the sports betting bonus types explained, this betting school guide is for you.
I’ll cover not just the welcome bonuses you get when you sign up, but also the other opportunities to make the most of what sportsbooks have to offer. That includes reload bonuses, the various bonuses you’ll get from VIP programs and even bonuses from referring friends. That way, you can pick the best bonuses for you quickly and easily.
In short, sports betting bonuses are rewards sportsbooks give you either when you join, or during your time with them if you reload your account or make different types of wager. The longer answer is much more complicated than this, and throughout this betting guide I’ll be explaining each type and the merits and possible downsides of each. In general the bonuses fall into these categories:
| Bonus Type | Notes |
|---|---|
| Welcome Bonus | What you get as a new customer, and is a one-off as a thank you for joining the sportsbook. These take many different shapes. |
| Ad-hoc Promotions | These might be bonuses offered for betting on a certain event, like bonus bets if you bet on the first week of the NFL season. |
| Reload Bonuses | These are bonuses, typically a deposit match when you fund your account at certain times, or by a certain amount. |
| VIP Bonuses | These can be special bonuses when you reach the upper levels of a program, or being promoted from one level to another. |
| Refer a Friend Bonuses | Are awarded when you introduce others - this bonus might be shared with your referee. |
The first stop on this tour of bonus types is the welcome bonus. This is what you get as a new customer joining a sportsbook for the first time, and is likely to be quite large. This is used as a tool to attract new customers, and also as a thank you for joining. They come in various shapes and sizes, and there are some important things you need to know when claiming one.
This is more common at casinos, but you can often find a deposit match bonus at a sportsbook. As the name suggests the sportsbook will match your deposit, typically with 100%, but sometimes as much as 120% or 150%. This is typically added to your balance as bonus bets, and will suit you if you like to see a big balance upfront.
This is not quite as straightforward but still not rocket science. Your first wager, up to a certain limit, is refunded to your account if it loses, typically as bonus bets. For example, you bet $100 and it wins, you don’t get a bonus but that doesn’t matter because you’ve won. If it loses you get $100 credited to your account in bonus bets. This type of bonus will suit you if you are risk averse, or new to sportsbooks and a bit nervous.
Here you are awarded bonus bets, typically after making a qualifying bet. These tend to be smaller bonuses, and an example might be to bet $10, get 4x$10 bonus bets. This means bet $10, and win or lose you get $40 in bonus bets. This might be a good fit for you if you have a smaller starting bank, or if you are cautious about depositing large sums.
These are quite rare, but I’ll cover them so you know what to do if you see one. This will usually take the shape of a bonus bet, but will be awarded after you register, with no need for a deposit or qualifying bet. These tend to be very small and you might well have to make a deposit before you can withdraw.
This last point illustrates you aren’t getting something for nothing here, and there are rules to follow if you want to get the best from each type of bonus.
These are the conditions you need to meet before you can withdraw any of your bonus funds. It might involve playing through the bonus amount or any winnings a given number of times, or your bets may need to be of certain types at predefined odds, such as a 2-bet accumulator at odds of 2.0 or above. Additionally, in most cases, the stake on the free bet is not returned.
Some bonuses will require bonus codes to trigger them. Failing to enter the code may result in an inferior offer or no offer at all. In my sports betting 101 guide, I mention all the best offers, along with the necessary bonus codes, so using the resources here can help you avoid missing out.
No matter the bonus type, always review the T&Cs. Not only will they detail the wagering requirements, but they will also inform you of any restrictions affecting the offer, such as payment methods, minimum deposits, and exclusions that might apply to you.
To round off this sports betting bonus type explained guide, I’ll take a quick look at what else is available. Don’t overlook these, they can make your long term experience with a sportsbook much, much better.
Once you’ve had the sports betting bonus types explained, you’ll know what to look for when searching for a sportsbook, and can avoid one of the biggest betting mistakes of all - claiming the wrong bonus. You can look at each you see and judge them on their merits especially regarding wagering conditions. The same goes for the other types of bonus as well, and being savvy about VIP programs and the ad-hoc bonuses can certainly improve your experience at a sportsbook in the long run.
The betting school also has other guides that are every bit as valuable as this, including a starter guide, and insights into how to use the various calculators that help you make the best of every wager you make.
Bonuses come in all shapes and sizes, but broadly fall into these categories: deposit match, bonus bets, no sweat bets, and no deposit bonuses, which are the rarest of all. You can see which might be the best fit for you by checking out our new sports betting bonus types explained guide.
Most sportsbooks will offer you a welcome bonus for signing up, but not all require a bonus code. You can find out by reading the T&Cs of the offer or by looking at reviews of the bonuses in question, which have already done the work for you.
Some sportsbooks offer reload bonuses anytime, but others will only do it on certain days of the week or if you deposit over a certain amount. You can find out by reading the small print or checking out our review of the sportsbook, which is likely to have the details.
Go to BetMGM
Go to BetMGM
