Best Sportsbook Bonuses 2023

We're here to help you decide which sports betting sign bonus puts you in the best position to succeed!

Best Sportsbook Sign Up Offers (May 2023)

Rank Bonus Turnover Min odds 
21+. Bet Responsibly. Gambling problem? Call 1-800-GAMBLER.
1

5 Second Chance Bets up to $250

Turnover: 1x bonus amount

Lowest odds: N/A

Claim Go to website
2

Bet $5, Get $200
in Bonus Bets Instantly

Turnover: 1x bonus amount

Lowest odds: -300

Claim Go to website
3

Up to $1,250 on Caesars

Turnover: 1x bonus amount

Lowest odds: N/A

Claim Go to website
4

$1,000 No Sweat First Bet

Turnover: 1x bonus amount

Lowest odds: N/A

Claim Go to website
5

2nd Chance Bet up to $500

Turnover: 1x bonus amount

Lowest odds: -200

Claim Go to website
6

Up to $1,000 Back in Bonus Bets

Turnover: 1x bonus amount

Lowest odds: N/A

Claim Go to website
7

Bet $1, Get $200

Turnover: 1x bonus amount

Lowest odds: -500

Claim Go to website

21+ and present in CO/NJ/OH/VA. First online real money wager only. $10 first deposit required within 30 days. Bonus issued as non-withdrawable bonus bets that expires in 90 days. Full T&C apply, visit sign up page for more info. #ad

8

$500 Second Chance Bet

Turnover: 1x bonus amount

Lowest odds: -300

Claim Go to website
9

Bet $100 Get $100

Turnover: 1x bonus amount

Lowest odds: -120

Claim Go to website
10

Bet $50, Get Up to $1,111 in Fred Bets

Turnover: 1x bonus amount

Lowest odds: -200

Claim Go to website
11

Bet $20, Get $100

Turnover: 1x bonus amount

Lowest odds: -200

Claim Go to website
12

Up to $1,000 in Matched Bets
Over Your First 5 Weeks

Turnover: 1x bonus amount

Lowest odds: N/A

Claim Go to website
13

100% Deposit Match up to $250

Turnover: 2x bonus amount

Lowest odds: -200

Claim Go to website
14

2nd Chance Bet up to $100

Turnover: 1x bonus amount

Lowest odds: -200

Claim Go to website
15

Bet $10, Get $50
Not Available in Ohio

Turnover: 1x bonus amount

Lowest odds: +120

Claim Go to website
16

Second Chance Bet up to $50

Turnover: 1x bonus amount

Lowest odds: -200

Claim Go to website
17

Up to $1,000 Back in Bonus Bets

Turnover: 1x bonus amount

Lowest odds: -200

Claim Go to website
18

100% Deposit Match up to $250

Turnover: 2x bonus amount

Lowest odds: -200

Claim Go to website
19

Only Available in NJ

Turnover: 1x bonus amount

Lowest odds: -300

Claim Go to website
20

Bet $100, Get $100

Turnover: 1x bonus amount

Lowest odds: -500

Claim Go to website
Bonus FeatureBest Sportsbook
💰 Highest Potential ValueCaesars Sportsbook ➡️
󠀥󠀥📈 Best Return on Investment Bet365 ➡️
🇺🇸 Most Widely AvailableDraftKings ➡️
⏳ Longest-LastingBetfred Sports ➡️
🆕 Newest BonusPointsBet ➡️

What is the Best Sportsbook Bonus?

That's exactly the question we look to answer on this page.

Since the explosion of online sports betting in the past few years, so many sportsbooks have come onto the scene. All of them are trying to do one thing: get you to wager with them. In order to do this, many sportsbooks offer bonuses for new players.

However, not all bonuses are created equal. That's why we’ve put this page together to help you decipher which betting bonuses are the right fit for you to maximize your value when signing on with a new sportsbook.

Scroll down to take a quick look at our breakdowns of the best sportsbook bonuses available to new customers and start betting today!

Breaking down the Best Online Sportsbook Bonuses

In the past few years, the boom in legal online sports betting has led to fierce competition for customers. To vie for your business, sportsbooks dole out generous bonuses.

Sports betting sign up bonuses come in many shapes and sizes but commonly fit into one of the following three categories:

These are just some of the major, most popular bonus offers you'll find, but check out our ranking of the top online sportsbook bonuses below!

US Online Sportsbook Sign Up Bonuses

21+. Bet Responsibly. Gambling problem? Call 1-800-GAMBLER.

  1. 5 Second Chance Bets up to $250

  2. Bet $5, Get $200
    in Bonus Bets Instantly

  3. Up to $1,250 on Caesars

  4. $1,000 No Sweat First Bet

  5. 2nd Chance Bet up to $500

  6. Up to $1,000 Back in Bonus Bets

  7. Bet $1, Get $200

    21+ and present in CO/NJ/OH/VA. First online real money wager only. $10 first deposit required within 30 days. Bonus issued as non-withdrawable bonus bets that expires in 90 days. Full T&C apply, visit sign up page for more info. #ad

  8. $500 Second Chance Bet

  9. Bet $100 Get $100

  10. Bet $50, Get Up to $1,111 in Fred Bets

  11. Bet $20, Get $100

  12. Up to $1,000 in Matched Bets
    Over Your First 5 Weeks

  13. 100% Deposit Match up to $250

  14. 2nd Chance Bet up to $100

  15. Bet $10, Get $50
    Not Available in Ohio

  16. Second Chance Bet up to $50

  17. Up to $1,000 Back in Bonus Bets

  18. 100% Deposit Match up to $250

  19. Only Available in NJ

  20. Bet $100, Get $100

What to Know About "Free" and "Risk Free" Bets

While sportsbooks may label their offers as Free or Risk Free, you should keep in mind that this is not literally the case.

The vast majority of these bonuses require the user to deposit and risk their own money. Even with risk free bets, you will typically only get refunded in site credits, not cash.

Regulations have tightened, so sportsbooks have to be more straightforward when promoting their sign up bonus, but it's still important to vigilant.

How do you choose your sportsbook sign up bonus?

Most sportsbooks offer users a sign up bonus to lure them into the site. But these welcome offers can come in many forms - second chance bets & deposit bonuses are perhaps the two most prominent types.

There are certain things to look out for when choosing a sportsbook bonus:

  • Maximum value - This is fairly simple - if you were to try to maximize your bonus, what would the highest possible value be. This aspect is fairly straightforward and offers with highest maximum values are certainly eye-popping. However, don’t just look at this number - there are many other elements to consider.

  • Qualifying bet/deposit minimums - Simply put, this is the money that qualifies you for a bonus. Obviously the lower, the better unless you are simply looking to maximize a matched bet. However, if a site is going to match your deposit, then it may not be a bad idea to put more than necessary into your account. Since money that is deposited typically can be withdrawn easily, there’s not a ton of downside to maximizing matched deposits if you can afford it.

  • Turnover - Also known as rollover or wagering requirement, this is the number of times the money or site credit received through a bonus offer must be wagered before you can withdraw it. Many sites only require a turnover of 1x, however some (like DraftKings) have much higher requirements, so this is definitely something to keep an eye on.

Sportsbook Bonus Turnover

Turnover is the number of times your bonus amount must be wagered before you can withdraw it as cash

  • Flexibility - In my opinion, this is one of the absolutely most important variables to consider when evaluating bonuses. Sites like PointsBet offer users a very high possible value, but even if that value is reached you can then only use it on one wager. On the opposite end of the spectrum, you have a site like Bet365. The highest possible value of their sign up bonus may seem small in comparison to PointsBet. However, Bet365’s bonus allows you to divide up your bet credits into as many small bets as you’d like, granting you much more freedom in the long run.

  • Minimum odds - Sites often set minimum odds to ensure your bonus bet credits aren’t just being used on -1000 sure things. This helps them ensure that they’re not just giving away money.

Pro Tip: Maximizing Your Bonus

Study the minimum odds of your promotion. When using your bonus bet or bet credits, stay as close to these odds as possible. This will typically mean you're wagering on a very safe bet (likely at least -300), but you still work towards fulfilling your turnover requirement and converting your bet credits into real cash you can withdraw or bet more freely.

It's not the sexiest way to use your bonus, but it is relatively safe and the most likely way to convert your credits into cash.

  • States - Many websites have varying sign up bonuses depending on the state from which you are wagering. Typically, the types of offers are the same, but there is a bit of variance in the dollar amount. In some rare instances, when a state is looking to launch online sports betting, they will have pre-registration offers available. For instance, Massachusetts sports betting will launch soon, so there will be plenty of pre-registration offers available in the lead-up.

  • Other terms and conditions ALWAYS apply - Make sure you’re always reading the fine print when signing up for these promotions - you don’t want to meet all the minimums and then lose your bonus bet because the promotion had expired. Taking five minutes to read the terms and conditions of your offer can save you a lot more time in the long run.

Recommended Sportsbook Bonus

Bet365 Bonus

Bet $1, Get $200

At Sportsbooks Online we think Bet365 offers users one of the best sportsbook sign up bonuses out there.

The max value isn't staggering by any means, but Bet365 allows users to divide up their bet credits however they choose. If you do receive the max value, you could theoretically spend them on one $200 bet or 200 $1 bets.

All you need to do is deposit a minimum of $10 and place your first real-money wager of at least $1. After your bet is settled, Bet365 will reward your account with $200 in bet credits.

Play Now

21+ and present in CO/NJ/OH/VA. First online real money wager only. $10 first deposit required within 30 days. Bonus issued as non-withdrawable bonus bets that expires in 90 days. Full T&C apply, visit sign up page for more info. #ad


Best Bonus Bet Sportsbook Bonuses

The most generous welcome offer across online sports betting sites is the bonus bet. The way they are portioned out varies depending on the site you're using. Some sites require minimum bets, while others don't.

Some sites require you to place a so-called Second Chance or No Sweat real-money bet first and will reward you with a refund in bet credits if you lose, while others simply reward you with a bonus bet after your first deposit.

These are one of our favorite kinds of sportsbook bonuses because they offer so much upside to the player with so little downside. As always, we cannot recommend enough that you read the specific terms and conditions of your promotion. All of the relevant requirements and details should be very easy for you to find.

Best Bet Get Sportsbook Bonuses

Sportsbooks often want users to not just sign up and claim a bonus but actually get to use the product, so players have a feel for how the betting app works. Bet and Get offers are great ways to incentivize a potential new customer all while getting them to test-drive how the sportsbook works.

Bet Get offers compensate you for betting a certain amount (usually $5 or $10) on the sportsbook by rewarding you with a larger amount in bonus bets after your wager is concluded. In most of these offers you get your bonus whether you win or lose, so it's a great way to get off to a flying start betting with your first sportsbook.

Bet Get offers are also presented to existing customers around major sporting events, but most of the time they are for new customers only.

Bet Get Sign Up Bonuses

21+. Bet Responsibly. Gambling problem? Call 1-800-GAMBLER.

  1. 5 Second Chance Bets up to $250

  2. Bet $5, Get $200
    in Bonus Bets Instantly

  3. Up to $1,250 on Caesars

  4. $1,000 No Sweat First Bet

  5. 2nd Chance Bet up to $500

Best Second Chance Bet Sportsbook Bonuses

Pointsbet Sign Up Bonus

PointsBet's current offer gives users a second chance

The second chance bet is a popular way to bring in new customers for online sportsbooks. In fact, this may currently be the most popular sportsbook bonus offer on the market.

You may have seen these offers referred to as "Risk Free" - they still function in the same way, but are no longer allowed to be called "Risk Free" since they do not reimburse users with cash back

Unlike typical sign up bonuses, second chance bets normally require the user to place a real-money wager first. From there, it's pretty straightforward.

If you win, nothing special happens. Simply enjoy your winnings. However, if you lose, you will be reimburswd up to a set amount in non-withdrawable on-site credits. In this way, a second chance bet can also be classified as a form of bet insurance.

More online sportsbooks are offering this welcome bonus now because it limits the amount of money they have to dole out to users by eliminating payments to players who win their first bet. However, we still think these bonuses offer users tremendous value by covering potential losses from their first wager.

These offers used to be called risk free, but are now mostly classified as "Second Chance" or "No Sweat Bets."

Betting Apps with Second Chance Bets

21+. Bet Responsibly. Gambling problem? Call 1-800-GAMBLER.

  1. 5 Second Chance Bets up to $250

  2. Up to $1,250 on Caesars

  3. $1,000 No Sweat First Bet

  4. 2nd Chance Bet up to $500

  5. Up to $1,000 Back in Bonus Bets

  6. $500 Second Chance Bet

  7. Second Chance Bet up to $50

  8. Up to $1,000 Back in Bonus Bets

Featured Sportsbook Bonus Second Chance Bet

Unibet Sign Up Bonus

$500 Second Chance Bet

Claim $500 offer

21+. New customers only. Welcome offers differ between states. Players must opt in to promotion when registering account, make a qualifying deposit (min $10), and place first real-money wager bet (min $10). If first qualifying bet settles as a loss, user is refunded 100% in non-withdrawable bonus bets (max bonus amount limited to $100 in AZ/IN/VA, max bonus limited to $500 in PA). Bonus bets have a 3x playthrough requirement and must be wagered on events with odds of -300 or greater. Full T&Cs apply, see sign up page for more info.


Best Sportsbook Deposit Bonuses

A way to enhance your value when joining up with a sportsbook is to take advantage of a deposit bonus.

A deposit bonus is, simply put, a bonus just for loading money into your account. Often times the dollar amount you put into your account will be matched by the sportsbook.

From there, the bonus amount is yours to spend how you like. However, you should take note that there is typically a higher turnover rate with deposit bonuses than bonus bets. DraftKings Sportsbook, for example, requires a turnover of 25x before your deposit bonus is converted into real, withdrawable cash.

Take a look at some of the best sportsbook deposit bonuses available today.

Best Deposit Sportsbook Bonuses

21+. Bet Responsibly. Gambling problem? Call 1-800-GAMBLER.

  1. Bet $5, Get $200
    in Bonus Bets Instantly

  2. 100% Deposit Match up to $250

Existing Customer Sportsbook Bonuses

Bet MGM Promotions

BetMGM's Promotions page features numerous deals for existing customer

"All of this is great for new users, but I'm looking for a long-term site for my sports betting needs?"

In that case, you should look to a site that has regular odds boosts and promotions. Many sites offer these to keep things valuable and interesting for their existing customers.

Daily odds boosts & promotions are a great way to receive continued value after you've exhausted your welcome bonus

You'll often find offers like parlay insurance, odds boosts, and more updated daily. Special offers can also revolve around high-profile events with boosted odds, such as bonuses for March Madness, the Super Bowl, or the NFL Draft.

Top Existing Customer Free Bets & Sportsbook Promos

  1. Refer-A-Friend - Recommend a sportsbook to your friend, and if they sign up and deposit you both get a bonus. If you and your buddies are all interested in sports betting, we highly recommend taking advantage of this feature. Included on PointsBet, Unibet, FanDuel Sportsbook, and more.
  2. Odds Boosts - Enhanced odds for a specific event allow you to get more winnings for a bet. Often offered for major events or for teams that have promotional partnerships with an online sportsbook. Find these offers on PointsBet, FOX Bet, and DraftKings Sportsbook.
  3. Rewards Programs - Keep coming back to bet to unlock more rewards, such as free bets, as you continually bet over time. Caesars Sportsbook, DraftKings Sportsbook, and BetMGM all offer rewards programs for existing customers.
  4. Parlay Insurance - If one leg of your parlay fails, you may be eligible for money back, usually capped at $25. You can find parlay insurance for traditional and/or single game parlays at BetMGM, FanDuel Sportsbook, and PointsBet.
  5. Free Bet Offers - In addition to being offered as a sign up bonus, free bets are also commonly offered to existing customers. Offered a bit more sporadically than other promotions, existing customer free bets are usually offered around major events like the Super Bowl, All-Star Games, the World Cup, and March Madness. You are consistently offered free bets as an existing customer on Caesars Sportsbook and PointsBet.

Best Sportsbook with Existing Customer Promos

PointsBet

Many Existing Customer Promotions

One of the sportsbooks that most frequently offers daily promotions and odds boosts is PointsBet.

Nearly every day, they offer users parlay insurance, boosters, or enhanced odds. These offers make it worth revisiting the site.


Latest Existing Customer Sportsbook Bonuses

BetRivers Bonus Code - $500 BetRivers Deposit Match

Claim a deposit match of up to $500 on BetRivers by using our exclusive promo code SPORTS! Available to users in over 10 states! Read more

Caesars Sportsbook Refer A Friend Bonus - $100 Bonus Bet for Your First 10 Friends

Caesars Sportsbook is offering users like you the chance to get $100 in bonus bets for referring a friend to the platform! Read more

DraftKings Sportsbook Refer A Friend Bonus - $100 in Bonuses

DraftKings Sportsbook is offering you and your friend the chance to get $100 in bonus bets on the sportsbook for referring a friend to the platform! Claim up to $500 in bonus bets ... Read more

FanDuel Sportsbook Refer A Friend Bonus - $75 in Bonuses

FanDuel Sportsbook is offering users like you the chance to get $75 in bonuses for the sportsbook and casino just for referring a friend to the platform! Claim up to $325 in bonus ... Read more

Sportsbook Refer-A-Friend Bonus

Fanduel Sportsbook Refer a friend

FanDuel Sportsbook's Refer-A-Friend program

In this still growing business, many sportsbooks look to plain old word of mouth to spread the good word of their platform. How do they encourage this? By doling out some cash, of course.

That's right, many sportsbooks will give users a bonus, just for getting their friends to sign up.

If you have a large group of friends that loves sports, I heartily encourage you to look into sportsbooks with Refer-A-Friend programs. It's a simple, easy way to maximize the monetary value of your sportsbook experience.

Plus, you can always dunk on them for their bad beats after a long NFL Sunday at the bar.

    Best Sportsbook Referral Bonus

    BetMGM Refer A Friend Bonus

    A $50 Bonus Bet for You and a Friend

    BetMGM currently offers users a $50 bonus bet for you and every friend you refer to the sportsbook. Once they sign up with the sportsbook, they'll start out with their bonus and you receive yours after they use up all of their $50 in bonus bets. We love this bonus because you and your friend both get a nice bonus bet.

    You can receive a referral bonus for up to 20 new users, so you can be swimming in up to $1,000 in bonus bets before you know it!


    Other Sportsbooks with Refer-A-Friend Bonuses

    21+. Bet Responsibly. Gambling problem? Call 1-800-GAMBLER.

    1. Up to $1,250 on Caesars

    2. $1,000 No Sweat First Bet

    3. Bet $5, Get $200
      in Bonus Bets Instantly

    Refer-A-Friend Sportsbook Bonuses

    BetMGM Refer A Friend - $50 Bonus Bet For You and up to 20 Friends

    BetMGM is offering users like you the chance to get $50 bonus bets just for referring a friend to the sportsbook! Claim up to $1,000 in bonus bets from BetMGM! Read more

    Caesars Sportsbook Refer A Friend Bonus - $100 Bonus Bet for Your First 10 Friends

    Caesars Sportsbook is offering users like you the chance to get $100 in bonus bets for referring a friend to the platform! Read more

    FanDuel Sportsbook Refer A Friend Bonus - $75 in Bonuses

    FanDuel Sportsbook is offering users like you the chance to get $75 in bonuses for the sportsbook and casino just for referring a friend to the platform! Claim up to $325 in bonus ... Read more

    DraftKings Sportsbook Refer A Friend Bonus - $100 in Bonuses

    DraftKings Sportsbook is offering you and your friend the chance to get $100 in bonus bets on the sportsbook for referring a friend to the platform! Claim up to $500 in bonus bets ... Read more

    Best Online Casino Sportsbook Bonuses

    Unibet Casino Bonus

    Unibet's Online Casino Bonus

    For the diversified bettor, many sportsbooks also have casino functionality.

    The casino sites typically have their own promotions and bonuses. Since the rate of return in casino games is higher than in sports betting, these bonuses tend to be less lucrative and feature higher turnover requirements than sportsbook bonuses.

    Beware - often, you can only redeem the casino bonus or the sportsbook bonus - not both.

    If you are interested in online casino bonuses, check out the list below featuring some of the best out now!

    Top 5 Online Casino Bonuses

    21+. Bet Responsibly. Gambling problem? Call 1-800-GAMBLER.

    1. 100% Deposit Bonus up to $2,000

    2. 100% Deposit Match up to $2,000

    3. $2,000 Play it Again

    4. 100% Match up to $500

    5. Deposit Bonus of up to $1,000

      21+. NJ only. Largest deposit into Bet365 within 7 days of registration prior to claiming casino welcome offer (min. $10) will be considered your qualifying deposit. This qualifying deposit will be matched 100% up to $1000 unless any portion is withdrawn, as it will no longer be considered 'qualifying'. Claim offer from 'My Offers' section in your account within 30 days to begin wagering with bonus funds. Wagering requirement of 20x the deposit plus bonus funds must be fulfilled within 60 days of claiming the offer to withdraw bonus funds. Full T&C apply, visit Bet365 for more details. #ad

    Sportsbook Bonus FAQ

    What is the best sportsbook bonus?

    That depends on what you're looking for, but here are some of our favorites:

    This is, of course, a very select list, so make sure to read further down and see which bonus is the best fit for you.

    How do sportsbook sign up bonuses work?

    Usually, sign up bonuses are credited to your account upon registering your account however, some require a promo code. These bonuses offer you some value and allow you to test out the platform while minimizing your own risk. Make sure to check out our reviews for complete information on how to claim each sportsbook's bonus offer.

    What is sportsbook bonus turnover?

    Turnover is the number of times the money or site credit received through a bonus offer must be wagered before you can withdraw it. For example a $50 second chance bet with a 2x turnover, must be wagered twice to full fill the turnover requirement - a total of $100 in bets.

    When do sportsbook bonuses expire?

    Generally speaking they last 7-14 days, but this can vary wildly from book to book, so there's no one-size-fits-all answer here.

    Yet another reason to make sure you read your T's & C's!

    What is a qualifying wager?

    Qualifying wagers are bets that make you eligible for certain promotions. For example, if a site was offering a bonus bet if your first bet over $10 loses, then your first bet over $10 would be your qualifying wager. The requirements of qualifying wagers can normally be found in the terms and conditions of your promotion.

    What are referral bonuses? How do they work?

    Referral bonuses are bonuses given when you utilize a betting site's "Refer-A-Friend" feature. Typically they require the new user to make a qualifying bet or deposit. After placing their first bet or deposit both the new user and the existing customer should receive a credit in their account.

    Difference between bonuses for sportsbooks and casinos?

    It's fairly straightforward - on most sites with both functions, the sportsbook and casino have completely separate bonus offers. They usually vary in value and turnover amount and you can typically only redeem one. Casino bonuses tend to be a little less friendly and have a lower possible monetary value and higher turnover requirement.

    How do you turn a sportsbook bonus into cash?

    Most sportsbooks require you to fulfill what's called a turnover or playthrough requirement. This requirement is the number of times your bonus money must be wagered in order for it to be converted back into cash. So if you have a $10 bonus bet with a 2x turnover requirement, you must place bets equalling $20 in order for your bonus money to turn into cold, hard cash.

    There are rare exceptions to this rule, with some sportsbooks not requiring any turnover.

    Sportsbook Bonus Offer Wrap-Up
    Ben Smith

    Ben Smith

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