What is a Sportsbook Deposit Bonus?
A sportsbook deposit bonus is any kind of bonus that you unlock by making a deposit. Sportsbooks offer these promotions to encourage users to sign up and make a deposit, and they’re normally very easy to claim and use. Considering you’ll need to make a deposit anyway if you want to start betting, this is a simple offer and one that you can get a lot of value out of if you know how to use it.
Types of Deposit Bonuses
There are a few different types of deposit bonuses, all of which are unlocked by depositing funds. According to our research, some are far more common than others. Here are some of the most common bonus types explained:
|Matched deposit||100% match on your first deposit||Your deposit is matched up to a certain amount, effectively doubling your bankroll|
|Reload bonus||50% match on weekly deposits||Your recurring deposits are matched up to a certain amount|
|Free bet||$100 in bet credits||You receive bet credits which can be used to bet on events. You get to keep the winnings|
|Risk-free bet||$250 risk-free bet||If your bet loses, your stake is refunded up to a certain amount|
How Does a Deposit Bonus Work?
Here's an example of how a matched deposit bonus works:
In this example, let's say that the sportsbook you join offers a 100% matched deposit bonus worth up to $1000.
- This means that you can claim $1000 if you deposit $1000, giving you $2000 in your account to bet with.
However, you could also deposit less than $1000. As long as you deposit over the minimum required amount, it will always be matched 100%.
- For example, you could deposit $100, and you’d receive a $100 bonus.
You can use this bonus to place bets on any sport, using it in place of your real cash. When placing a bet, you simply select the bonus in your betslip and choose your stake as normal. Data shows that this helps to reduce risk when betting and increases your overall bankroll.
How to Claim a Sportsbook Deposit Bonus
Claiming a deposit bonus is normally incredibly simple. All you have to do is follow the provided instructions and make a qualifying deposit. Here’s a quick guide on the steps you need to follow when claiming your cash bonus:
- Create your sportsbook account – If you don’t already have one, be sure to create your account. Include all of your personal details and ensure they’re correct.
- Read the full terms and conditions – All bonuses come with terms and conditions which affect how you can claim and use the promotion. Read these carefully, as getting something wrong could mean you miss out.
- Use a promo code if needed – In some cases, you’ll need to copy and paste a promo code into a box when signing up and making your deposit.
- Make your deposit – Use your preferred payment method to add funds to your sportsbook account, making sure you follow the steps needed to claim the bonus.
- Claim your bonus – In some cases, you may need to accept the bonus after making your deposit, be sure to claim it, and if it doesn’t appear in your account, you can contact the support team for assistance.
Deposit Bonus Terms and Conditions
Whenever you’re looking for a bonus, it’s always important to read through the terms and conditions. This will let you know how to claim the offer while also giving you an idea of whether or not it’s worth claiming. While most bonuses are fair and easy to claim, others can have unfair or restrictive terms.
Here are some of the terms and conditions you’ll come across when using deposit bonuses:
|Minimum deposit||Deposit $20 or more to claim||You’ll need to deposit the minimum amount to claim the offer. Depositing less will mean you miss out|
|Wagering requirement/rollover||25x rollover||The number of times you need to wager the bonus funds before you can withdraw them and any winnings|
|Expiration||Bonus expires after seven days||You’ll need to use your bonus and complete the rollover before it expires|
|Minimum bet||Bet $20 or more||The amount you need to bet when using your deposit offer|
|Minimum odds||Bet at odds of at least -200||The odds you need to bet at when using your deposit offer|
Deposit Bonus FAQ
Which sportsbooks offer the best bonuses?
You can find the best sportsbook deposit bonuses at our top-rated sportsbooks. We test and review each licensed betting site to see what they offer and make sure we only ever recommend the best sites with the biggest bonuses.
Can I withdraw bonus funds?
No, bonus funds can’t be withdrawn from your account. You normally need to complete a rollover before you can withdraw any funds. Check the terms, as sometimes withdrawing before completing the rollover can mean your bonus is void.
How much do I need to deposit to claim a bonus?
That depends on which bonus you’re using. In most cases, you’ll need to only make a minimum deposit of $20 or less to claim your offer. With matched deposit bonuses, you’re able to claim a bigger offer by making a bigger initial deposit.
How to turn bonus funds into cash?
You can turn your bonus funds into real cash just by completing the rollover. This means wagering it a certain amount according to the terms and conditions. Once you complete the rollover, the bonus and any winnings are all yours to keep.
Do I need to use a promo code to unlock my deposit bonus?
In some cases, you may need to use a promo code to unlock your deposit bonus. Check the terms to see if it’s required, and copy and paste the code into the relevant box if needed.
Can I claim the same bonus more than once?
You can only use one welcome bonus per sportsbook you join. However, you can sign up to as many sportsbooks as you like. In addition, lots of betting sites have regular deposit bonuses, which you can claim as often as they’re available.