Best Online Sportsbook Rewards

If you are not taking advantage of sportsbook rewards and promotions, you need to be. The average bettor can gain hundreds of dollars in free bets that can lead to some big wins if used correctly.

With all of the sportsbooks out there, how does the average bettor keep up with all of the sportsbook rewards and deals? That’s easy. Keep it tuned to Sportsbook Advisor, your go-to resource for all things related to sportsbooks.

For the latest in current sportsbook bonuses & promo codes, you can go HERE where we broke down some of the most recent promotions at popular sportsbooks. It also pays to understand how these bonuses and other rewards actually work. 

In this article, we will break down the most common forms of sportsbook promotions and bonuses. We’ll show you where you can find these bonuses and offer examples as to how you can use them to your advantage.

The Welcome Bonus

If you are a sports bettor, your web browser is probably full of sportsbook entries. Your smartphone might have a couple different sportsbook apps. Wherever you go online, you’re probably inundated with sportsbook welcome bonuses.

• “Bet $5, Get $150”
• “Bet $100, Get $100”
• “100% Deposit Match”

These are all common taglines that are marketing messages that you might see when searching for anything related to sports betting. There are so many sportsbooks these days that they have to compete to sign up new customers.

The welcome bonus, or sign up bonus, is the one that lures you in the door. Many sportsbooks will offer you a deposit match of some sort. Take BetUS.com as an example. Bettors receive a 100 percent deposit match when they put money into their sportsbook betting account.

Bettors must deposit at least $100 (no more than $2500) and BetUS matches the amount. BetUS is unique in that it will also offer bonuses on a bettor’s first three deposits. You can learn more about it by visiting their website.

How Do Deposit Bonuses Work

If you put a $100 deposit into a sportsbook like BetUS, you cannot simply take the $100 bonus and withdraw it. Sportsbooks are in the business of making money, not giving it away. Deposit match bonuses are typically in the form of free plays. With a $100 deposit, you’ll have $100 you can use to place bets.

Some sportsbooks will offer a deposit bonus in the form of a free bet. If you deposit $50 into a sportsbook account, for example, a sportsbook might give you a free $5 or $10 bet. Use the free bet any time. If it hits, you can take the profits. If it loses, no big deal. The stake doesn’t come out of your sportsbook account and the book doesn’t lose anything.

The sportsbook will also have what’s called a rollover requirement, which is why you can’t immediately withdraw your bonus. If my $100 deposit has a 10x rollover requirement, I must place $1000 (10 x $100) in bets before I can withdraw any of my bonus earnings. If you bet $20 a game, for example, you’ll need to place 50 bets before you can cash out any bonus money.

Reload Bonuses

Reload bonuses are for existing customers and are used by sportsbooks to retain those who already have betting accounts. While we all might think we’ll just continue to wager off of our winnings, that’s not the case. When you need to reload the bankroll, sportsbooks will typically offer some form of reward.

America’s Bookie has one of the more generous reload bonuses in the industry. Bettors can receive up to a 100 percent reload deposit match. Of course, there are limits on how much a bettor can deposit and there are rollover requirements, but bettors can take advantage of a full deposit match when they reload their account.

Other Sportsbook Incentives

While most sportsbook rewards come in the form of welcome or signup bonuses, there are some other incentives that help to entice bettors to either sign up or keep an account with a given sportsbook. Referral bonuses are one such incentive.

BetOnline offers customers a 200 percent (up to $200) referral bonus. Refer a friend to BetOnline and you can receive a nice bankroll boost of up to $200. America’s Bookie offers a 10 percent bonus on the first referral, 15 percent on the second and 20 percent on the third.

Many of our featured sportsbooks also offer other incentives like odds boosts, no-deposit bonuses, gambler’s insurance, and more. Before you make a deposit, check out all of the features and benefits offered by a sportsbook to make sure it’s a good fit. Bonuses should be a big part of your research.

Examples of the Best Online Sportsbook Rewards

There’s a reason why we mentioned BetOnline and SportsBetting.agso often. These are two industry-leading sportsbooks that provide tons of opportunities to bettors of all levels of experience. What really sets these books apart from their competition is the quality of their sportsbook rewards.

Like most every sportsbook, BetOnline and SportsBetting.ag offer welcome and reload bonuses. They also offer a tiered reward system. This is a system that will offer bettors higher rewards for depositing more into their betting accounts.

At BetOnline, VIP members are offered higher bet limits the higher they are on the tier system. A gold member, for example, has higher bet limits than a bronze member. Weekly cash boosts, reduced deposit fees, and priority withdrawals are just some of the incentives that VIPs receive as they move up in the tiered reward system.

These tiered bonus structures also allow for higher bonuses on larger deposits. The bonus on a $2,500 deposit is going to be more than the bonus on a $100 deposit. This encourages bettors to not only continue using the sportsbook, but also to deposit higher amounts. See BetOnline’s VIP Rewards Explained Here

The Last Word

With the current state of the sports betting industry, sportsbooks are engaged in fierce competition for a growing number of sports bettors. A few more US states have legislation in play that could add even more millions of bettors to an already huge pool of bettors.

Bettors need sportsbooks and sportsbooks need bettors. That means bonuses and promotions aren’t going anywhere in the future. We may even see some unique twists in incentives designed to either get a bettor to sign up for a new betting account or to keep him as a customer.

Regardless, do your homework on online sportsbook rewards before signing up for a betting account. Use the resources here at SportsbookAdvisor to speed up that process. We’ve done the work so that you can concentrate on winning more bets.