Best Sportsbook Bonuses 2024

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 categories:

• Bonus Bets
• Bet & Get Offers
• Second Chance Bets
• Deposit Bonuses

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!

Bonus offerings may differ from state to state. Check out the breakdown below for more information on what's available for you!

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 Since money that is deposited typically can be withdrawn easily, there’s not a ton of downside to maximizing matched deposits if you can afford it.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.

• Flexibility - In my opinion, this is one of the absolutely most important variables to consider when evaluating bonuses. Sites like Caesars 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 Caesars. 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.

• 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, the available sportsbook promos in Michigan may differ than those in New York, despite the fact that they are being provided by the same sportsbooks. States that will soon launch online sports betting also often offer pre-registration bonuses, such as those that were available on North Carolina sportsbooks prior to that state's launch.

• 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.

The most generous welcome offer across the best sports betting sites is the bonus bet. The way they are portioned out varies depending on the site you're using. Most sites require minimum bets, while few others do not.

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.

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, such as the Super Bowl, but most of the time they are for new customers only.

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."

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. There may also be restrictions that require the betting odds of the event to be a certain amount (such as -200 or higher).

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

"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 BetMGM, Caesars, 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 Caesars, Bet365, 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 DraftKings Sportsbook.
5. Bonus 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 bonus bets as an existing customer on Caesars Sportsbook and DraftKings Sportsbook.

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.

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!