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Competition is fierce in the legalized sports betting world. Sportsbook promotions, bonuses, and offers pop up all the time and give users a great chance to get some extra profits on their winnings or get some boosted odds.
Bonuses are nothing new for the sports betting industry. Even in the old days when offshore sportsbooks were all the rage, they would have to incentivize sign-ups and stand out from the competition by offering bonuses. With PASPA dead and buried and sports betting legislation getting approved in a variety of different states, the legal sportsbooks are taking a page from that playbook to offer potentially lucrative sign-up and deposit bonuses.
However, they have gone one step further and have done things like Profit Boosts, Boosted Odds, Parlay Insurance, No-Deposit Free Bets, and all sorts of sport-specific betting offers.
We try to get to every one that we can here at ATS, but each and every sportsbook is vying for a piece of that sports betting pie in legal jurisdictions, so we thought it best to just explain what to look for and the offers that you can take advantage of, both if you sign up through us at ATS and then when you already have an account and see those offers.
Sportsbook Deposit Bonuses
Just about every sportsbook in the industry will give you a bonus with your first deposit. Many of the legal US sportsbooks now give those bonuses to you in free bets, which are basically risk-free opportunities. Others match your deposit 50% or 100% up to a certain amount. All of them have different terms and conditions, but the types of bonuses are pretty standard across the board.
Match Bonus at Sportsbooks
A match bonus is exactly as it sounds. The sportsbook will match your deposit up to a maximum dollar amount. Some sportsbooks do a 50% deposit match bonus and others do a 100% deposit match bonus. If you deposit $500 with a sportsbook and they have a 100% deposit match bonus, you will get $500 added to your account, either in cash, free bets, or bonus money.
If you deposit $500 with a 50% match bonus, you would get $250 in cash, free bets, or bonus money. Each sportsbook applies the funds based on their terms and conditions.
Risk-Free Bet Bonus
A free bet bonus is a little bit different. A lot of sportsbooks will offer these free bet bonuses as a risk-free way of getting you to make your first bet. For example, a sportsbook may offer a $500 risk-free bonus bet. In that instance, you either win your bet or you get the bet amount refunded to your account.
Basically, the bonus amount is variable. If you win your bet because you made that risk-free wager, that money is yours. If you lose your bet, your bonus is that you get back the bet amount that you lost. Fortune favors the bold and if you choose wisely, then you will get a nice boost to your bankroll right off the bat. If you pick a loser, then you are right back where you started, but at least you didn’t lose any money.
In states that have legalized online casinos or online poker, you will traditionally get a separate bonus offer for that part of the website or app. Everything will be under one name and one roof, but your sportsbook bonus is going to be independent of your casino or poker bonus.
Casino or poker only apps also offer bonuses upon your first deposit as well.
No-Deposit Free Bet
Some sites will give you a No-Deposit Free Bet to sign up and try before you buy. You’ll get a free bet credit with bonus money to make a wager and see how the site works. You get the chance to see if you like it before you make a deposit. Think of it like test driving a car or trying on a dress in the fitting room. You don’t want to just assume. You want to make sure you like it first.
Some sportsbooks give you the opportunity to do that. Then, they will also give you a deposit bonus as well if you do in fact decide to fund your account.
Odds boosts are all the rage in the legal sports betting community. Some sportsbooks will set the boosted odds themselves and encourage action on big sporting events by giving better odds than other sportsbooks in the market. Others will do Crowd Boosted Odds that will increase the odds with every 100 bets. It all depends on the sportsbook and how their promotions department runs.
Along with Odds Boosts, where a line might go from +100 to +150 just because it is a popular betting option, some sportsbooks will partake in Profit Boosts. You’ll bet at the same odds as everybody else, but your winnings will increase by, say, 50% if you opt-in to that specific promotion.
Contests & Challenges
On the promotions page of a sportsbook, you will see all kinds of different offers. Sometimes you’ll get access to a special contest, like a Streaker contest where you have to put together multiple winning picks in a row, or a challenge to bet on all of the NBA or NFL games on a given day.
Usually Free Bets are the rewards for those types of contests, but there could be cash prizes as well. It all depends on the sport and the sportsbook.
It is critically important to understand how these bonuses and offers work. You will get something, like free bets or a deposit match bonus or whatever else, but the sportsbooks aren’t just going to give you free money so that you can cash out right away. Just about every bonus in the industry comes with a rollover requirement.
A rollover is a multiplier of how many times over you will need to wager that money before you can cash out. Some rollovers are 1x. Others are 2x or 3x. Some may be higher than that. It is up to you to look at the terms and conditions of the bonuses, promotions, and offers to see exactly what the small print says.
Our Advice When Signing Up At A Sportsbook
Our advice to you? Shop around. Read through our sportsbook reviews here at ATS to see which sportsbooks offer a No-Deposit Free Bet or the most lucrative Deposit Bonuses. We’ll write up articles for specific promotions, like Profit Boosts for golf tournaments or Odds Boosts for big-time events. Some operators will even offer $1 to win $100 sportsbook promos.
Everybody wants your business. You are a valued customer. What that means for you is that you have options and opportunities and you don’t have to look that hard to find them.