Always make sure you enter the promo code when required and meet all the conditions to activate your bonus. Keep in mind that bonus credits expire between 7 to 21 days after being issued at most sportsbooks, so plan to use them before they run out.
Following these simple steps will help you make the most of sportsbook promo codes and maximize the value of every bet you place.
Types of New User Sportsbook Promos
Welcome offers from online sportsbooks have different qualifying conditions. Here’s how the main types work:
- Bet & Get: Place a qualifying wager and receive bonus bets after it settles, regardless of the result. Check minimum odds and wagering requirements.
- Bet & Win: Your qualifying wager must win to unlock the bonus. A losing bet does not earn the advertised reward.
- First-Bet Loss Offers: Receive bonus bets if your qualifying first wager loses, up to the stated limit. The refund is promotional credit rather than withdrawable cash.
- Deposit Match: Receive bonus credit based on a percentage of your qualifying deposit. Check playthrough requirements and whether the credit can be used on sportsbook wagers.
- Odds or Profit Boosts: Receive improved odds or extra profit on eligible wagers. Check the maximum stake, eligible markets and activation requirements.
For casino welcome offers and no-purchase bonuses, explore our online casino, social casino and sweepstakes casino guides.
Existing User Sportsbook Promotions for 2026
Sportsbooks don’t just reward new users. Loyal players can grab plenty of great deals too. From boosted odds to bonus bets and referral bonuses, there are plenty of ways to keep stacking value after you’ve taken advantage of a new user bonus. We’ve pulled together the best ongoing promotions from top names like BetMGM, FanDuel, DraftKings, bet365, and Caesars below.
Sportsbook | Promotion Name | Description | Key Details |
BetMGM | Refer a Friend | Earn a $100 bonus for each friend you refer who registers and meets the requirements. | Up to 20 referrals per month; maximum of $2,000 in bonuses. |
BetMGM | EPL Early Payout | Receive an early payout if your team takes a 2-0 lead in EPL Match Result bets. | Available on select EPL matches; terms apply. |
BetMGM | NBA First Field Goal Cashback | Get cashback if your NBA First Field Goal bet doesn’t hit, but your player scores the second field goal. | Available on Fridays; terms apply. |
BetMGM | Parlay Boost Token | Enhance your potential payout with a Parlay Boost Token. | Check your account for available tokens; terms apply. |
FanDuel | Refer a Friend | Both you and your friend receive a $75 bonus when they sign up and place a qualifying bet. | Maximum of 10 referrals; terms apply. |
DraftKings | Daily Odds Boosts | Access daily odds boosts on various sports and events. | Offers vary daily; check the promotions page for current boosts. |
Note: Promotions are subject to change and may vary by location. Always check the sportsbook’s official promotions page for the most up-to-date information and terms.
How Much Are Sportsbook Promos Actually Worth?
The advertised bonus amount doesn't always tell you how much a sportsbook promo is really worth. Bonus bets don't return the original stake according to the terms at most sportsbooks, and wagering rules, odds restrictions, and expiration dates can all affect how much value you actually get.
One way to compare offers is through expected value (EV), which estimates how much of a promotion you can realistically turn into withdrawable winnings.
Estimated EV = (Bonus Amount × Conversion Rate) − Expected Losses
Promo Type | Example | Estimated Value | What to Know |
|---|
Bet & Get | Bet $5, Get $150 | ~65-75% of bonus | Small qualifying wager can unlock a much larger bonus |
Second-Chance Bet | Bet $1,000, Get Bonus Bets if You Lose | ~30-40% of max refund | You only receive the bonus if your qualifying bet loses |
Deposit Match | 100% Match Up to $500 | Varies | Value depends heavily on playthrough requirements |
Odds Boost | 25% Profit Boost | Varies | Max bets and eligible markets can limit the value |
Bet-and-Get Bonuses
Bet-and-get offers are among the better sportsbook promos because the qualifying wager can be small compared with the bonus you receive.
For example, say a sportsbook offers Bet $5, Get $150 in Bonus Bets. If you estimate that you'll convert about 70% of those bonus bets into withdrawable winnings:
$150 × 70% = about $105 in estimated value
The actual amount you get back will depend on how you use the bonus bets. Since most bonus bets return the winnings but not the original bonus stake, the odds you choose can make a difference.
Why Bonus Bet Odds Matter
For a simple example, consider a $100 bonus bet:
Odds | Profit If It Wins | Bonus Stake Returned? |
|---|
+100 | $100 | No |
+200 | $200 | No |
+400 | $400 | No |
This is why using bonus bets at longer odds can improve the percentage of the bonus you're able to convert into cash. However, longer odds also mean a lower probability of winning.
Second-Chance Bet Offers
Second-chance promos work differently. Instead of getting bonus bets simply for placing a qualifying wager, you receive them only if that wager loses.
For example, suppose you bet $1,000 and get up to $1,000 back in bonus bets if you lose. If the original wager has roughly a 50% chance of losing and you estimate a 70% conversion rate on the bonus bets:
$1,000 × 70% × 50% = about $350 in estimated promotional value
In this simplified example, that's about 35% of the maximum $1,000 refund. Your actual value will depend on the odds of your qualifying wager and how efficiently you use any bonus bets you receive.
Which Sportsbook Promo Type Offers the Most Value?
For most bettors, bet-and-get promos tend to provide more value relative to the amount you have to risk. A $5 or $10 qualifying wager can unlock $150 or more in bonus bets.
Second-chance offers can have much larger advertised maximums, but you have to risk considerably more money and only receive the bonus if your qualifying bet loses. That's one reason strong bet-and-get offers tend to rank highly in our sportsbook promo comparisons above.
