Sportsbook Bonuses 2023

As we take a look at the bonuses available across the board, keep in mind that not all bonuses are created equal. You have to keep an eye on the different terms and conditions with special attention to rollover requirements. That’s why we’ve made this table, so that you can easily see what’s available to you at all of the different sportsbooks and compare the bonuses pound-for-pound.

This table lists all of the U.S.-facing sportsbooks along with their bonuses. That means that all of the sports betting sites in this list will accept U.S. players and any U.S. customers will qualify for the bonuses. If you have a look below the table, we've added a ton of information regarding bonuses. You’ll find out more details about the different types of bonuses and what the different terminology in relation to them means.

For more information on the best sportsbooks, check out all our best sportsbooks.

So you’re looking to bet on sports and you’ve heard about the welcome incentives from sportsbooks and their online betting deposit bonus programs. Yes, it’s true: almost every sportsbook worth its salt offers some kind of an initial deposit bonus. However, you have to keep in mind that not all bonuses are made the same. Let’s take a look at the different types, so that you can see what are some of the best online sports betting bonuses out there:

The Different Types Of Deposit Bonuses

Risk-Free Bet

One of the most common deposit bonuses is a risk-free bet. How this works is when you deposit at a sportsbook, they’ll give you a bonus back if you lose your first bet. As an example, let’s say you deposit $200 and they give you a 100 sign up bonus sports betting. How this type of bonus works is you’ll get a risk-free bet of 100% of your deposit, which is $200. If you bet that money and win, then you get to keep those winnings – whatever they are. If you lose the $200 bet, they’ll refund it back to your account.

Cash Back (On Losses)

Although these are quite rare for sports betting, some sportsbooks will give you cash back on your losses. Typically, you’ll see something like this for horse racing bettors as they’ll commonly give you something like 3% back on all of your action. With sports betting, it does happen, but it is decidedly rare.

How this works is a sportsbook will set a specific percentage for the bonus. It could be something like 10%. If throughout the life of your account, you’re ahead of the game and are profitable, then you’ll never receive this bonus. If your account happens to get cleaned out after some losses, you’ll get 10% back on your losses.

This promo is useful because often times, reloading an account after you’ve lost is one of the most uncomfortable feelings for a sports bettor. In this scenario, you can at least get a little bit of money back.

Cash Bonus

As they say, cash is king: this is the best sportsbook sign up bonus that you’ll want to receive. This is the simplest bonus to understand because all it means is that when you deposit into your account, they’ll give you a bonus of cash into your account. For example, if a sportsbook has a 50% bonus and you deposit $100, you’ll get $50 into your account. Therefore, your account will start at $150.

While things like risk-free bets and cash upon losses aren’t bad, having cash bonuses in your hand are the best sportsbook bonuses available.

Reload Bonus

You’ll frequently hear the term reload bonus but this is merely referring to all subsequent deposits after your first deposit. In other words, your first deposit is the initial deposit but all other deposits after that will be reloads.

Some sportsbooks offer reload bonuses while others don’t. Typically, even the books that don’t publicly offer online betting bonus offers for reloads will be willing to give you a little something if you call them up and ask if they’ll sweeten the pot for you if you deposit.

What Strings Are Attached?

There’s no such thing as a free lunch, right? Well, with a sportsbook welcome bonus bet, they’re mostly free but they do come with a few strings attached. Let’s take a look at some of the things you should look out for as these conditions may separate the good betting sites welcome offers from the bad.

• Take Note Of The Limits
  This one is important to note as a 10% bonus is not a 10% bonus across the board. For example, one sportsbook might cap you at $200 while another sportsbook might set your maximum limit for the bonus at $1000. If you’re depositing $10,000 into your account, obviously, the 10% bonuses will vary greatly.Another aspect to keep an eye out with limits is what can you win with your money. With risk-free bets, there are often caps on how much you can collect back on your winnings. In other words, if you have a $100 risk-free bet and you play at 10-game parlay that hits, they might cap your bonus off at a specific number. Make sure you check those limits before depositing, so you know what you’re getting into.
• What Can You Bet?
  When it comes to cash bonuses, you’re free and clear as you can do whatever you want. With other bonuses, you have to read the fine print. For example, a risk-free bet may come with specific conditions about the types of lines you can bet. Some sportsbooks might limit you to lines of -200 or worse, or they might keep you from playing parlays.If you’re wondering why that is, it’s quite simple: they want there to be some risk with your risk-free bet. For example, if you get a $500 risk-free bet as a bonus and bet a parlay with a bunch of big moneyline favorites, you might actually win a lot of money back. They want you to have about a 50/50 shot (or worse) at actually cashing in, so they’ll usually set up some parameters for risk-free bets.
• Rollover Requirements
  Lastly, make sure you note the rollover requirements with your bonus because all bonuses will have them.A rollover requirement stipulates that you’ll have to wager a specific amount of money before you can withdraw your bonus. Let’s say you deposited $100 and earned another $100 with a 100% bonus to put your bankroll at $200. Now let’s say that there’s a 10-time rollover. What that means is you have to bet your deposit and bonus 10 times before you can withdraw. In other words, you’ll have to place $2000 worth of bets before you can withdraw your bonus.That means that when you’re looking at the best sportsbook bonuses online, it’s important to check the rollover requirements. Some books might have a measly two- or three-time rollover. Other books may force you to play more bets before you can cash out.This is basically set up so that dealsters don’t just deposit $500 into a new account, add in a 50% bonus of $250 and then withdraw the profits right away.