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Almost all online sportsbooks have betting offers such as deposit match bonuses and bonus bets back if your first bet loses.
These offers are a great way to make money sports betting right off the bat, especially when considering that the value of some can be as high as $5,000.
With so many sportsbooks entering the legal betting market, however, it can be difficult to decide which is the best.
To help you out, we've consolidated the betting offers of all major sportsbooks in this guide, outlined the differences between the four major types of bonuses, and explained what to look out for when taking advantage of one.
Compare Bonus Bets & Other Betting Offers at Sportsbooks
Below you can see the betting offers for new customers from all of the sportsbooks that we've reviewed, ordered based on our overall rating of them.
As sportsbooks update their sign-up bonuses, we will update this guide so you can always find the best offers available. You can also check out our Best Sportsbook Promo Codes & Promotions Guide to see how to get the bonuses and the codes required.
6 Kinds of Free Bets & Bonuses Sportsbooks Offer
There are five main types of betting offers that sportsbooks give to customers: free bets with no deposit required, bet matches (free bet equal to the amount of your first bet) risk-free bets, deposit matches, and free bets for wagering certain amounts of money.
The first four are intro promos for new customers while the last is typically offered as a reward for ongoing betting with a book.
Here’s a look at each:
1) Free Bets with No Deposit Required
Free bets with no deposit required are completely free bets that you can get for simply signing up for a sportsbook.
After you register, the sportsbook will give you a certain amount of money in your account either as a single free bet or as site credit that you can use on multiple free bets.
Pros of free bets with no deposit requirements
These kinds of free bets are great because they don’t require you to deposit any of your money like the other types of intro bonuses. You simply sign up and already have money in your account to bet.
Cons of free bets with no deposit requirements
On the downside, free bets with no deposit required typically have much less value than risk-free bets and deposit matches. Whereas risk-free bets and deposit matches may have total values of around $200 to $5,000, free bets with no deposit are typically under $100.
Sportsbooks that offer free bets with no deposit
None currently available
Must be 21+ in most states. Gambling problem? Call 1-800-GAMBLER
Sportsbook | States | Sign Up Bonus* | Promo Code |
|---|---|---|---|
AZ, CO, CT, IL, IN, IA, KS, KY, LA, MA, MD, MA MI, NJ, NY, OH, PA, TN, VA, WV, WY | Bet $5 Moneyline, Get $150 in Bonus Bets If Your Team Wins | Not needed | |
AZ, CO, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, NV, NJ, NY, OH, PA, TN, VA, WV, WY | $1,000 First Bet on Caesars | OA1000 | |
AZ, CO, FL, IN, IA, KY, LA, MD, MA, MI, NV, NJ, NY, OH, PA, TN, VA, WV, WY | Up to $1,500 Back in Bonus Bets | ODDS100 | |
CO, IA, KY, LA, NJ, OH, VA | Bet $5, Get $150 in Bonus Bets | Not needed | |
AZ, CO, IL, IN, IA, LA, MA, MI, NJ, NY, OH, PA, VA, WV | Second Chance Bet Up to $500 | ODDS1 | |
PA | Second Chance Bet Up to $500 | ODDS1 | |
AZ, CO, IN, IA, LA, NJ, OH, PA, VA | First Bet Insurance Up to $250 | Not needed | |
CO, MI, VA | Bet $20, Get $200 in Bonus Bets | Not needed | |
AZ, IN, NJ, PA, VA | $500 Second Chance Bet | Not needed | |
AZ, CO, CT, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, NH, NJ, NY, OH, OR, PA, TN, VA, WV, WY | 20% Deposit Match Up to $1,000 | Not needed | |
AZ, CO, IL, IN, IA, KS, KY, LA, MA, MD, MI, NJ, OH, PA, TN, VA, WV | Up to $1,00 Back in Bonus Bets | Not needed | |
NJ | First Bet Match Up to $100 | Not needed |
*May vary by state.
2) First Bet Matches
With a bet match, you receive a bonus bet equal to the amount of your first real-money bet up to a certain amount.
So, for example, if you deposit money into your account and make a $1,000 bet, you would then receive a bonus bet of an equal amount.
Here’s how bet matches work:
- You register for an account and make your first deposit.
- Place your first bet (using the money you just deposited).
- Regardless of whether your first bet wins or loses, you will receive a bonus bet of equal value up to a certain amount of money.
Most sportsbooks only require you to bet the bonus bet(s) once before you can withdraw it, but others may require you to bet it up to 25 times first.
The other thing to note with bet matches is that most sportsbooks give you a certain amount of time to place your first bet after registering and a certain amount of time to use your bonus bet.
Be sure to read the full terms and conditions so you do not miss out on the bet match.
Pros of bet matches
The main benefit of bet matches is that you receive the bonus bet regardless of whether your first bet wins or loses.
This is better than a “risk-free bet” intro promo in which you only get the bonus bet if your first bet loses. With a bet match, you receive the bonus bet no matter what.
What's more, is that you can hedge your free bet to guarantee yourself a profit. Learn more about this sports betting strategy with our Free Bet Calculator.
Cons of bet matches/free bets
Bet matches are arguably the best type of intro promo. The main downside is that you still have a chance to lose both your initial bet as well as the ensuing bonus bet, potentially leaving you down a decent amount of money depending on how much you bet.
Bet matches are typically issued as a single bonus bet (as opposed to multiple bonus bets), so if you go 0/2 on your first two bets, you could be down a good amount.
Sportsbooks that first bet matches
Must be 21+ in most states. Gambling problem? Call 1-800-GAMBLER
| Sportsbook | States | Intro Promo |
|---|---|---|
NJ | First bet match up to $100 |
3) Bonus Bets Back If Your First Bet Loses (Previously Called Risk-Free Bets)
Risk-free bets used to be the most popular form of intro promos for new customers, with over half of U.S. sportsbooks offering them in the past.
However, due to state regulators criticizing the use of the terms “free” and “risk-free”, many sportsbooks have started calling them other things such as “No Sweat” or “Up to $X Back in Bonus Bets”.
Here’s how these type of betting offers work:
- You register for an account and make your first deposit.
- Place your first bet (using the money you just deposited).
- If your bet wins, your bet is treated as a normal bet and you can immediately withdraw your winnings if you’d like.
- If your bet loses, you will receive bonus bet(s) of equal value up to a certain amount (usually between $100 and $2,000).
If your first bet loses and you do receive the bonus bet(s), you are not eligible to withdraw it until you bet it at least once—this is called the playthrough requirement or rollover requirement.
Most sportsbooks only require you to bet the bonus bet or site credit once before you can withdraw it, but others may require you to bet it up to 25 times first.
The other thing to note with risk-free bets is that most sportsbooks give you a certain amount of time to place your risk-free bet after registering and, if your first bet loses, a certain amount of time to use your free bet or site credit.
Be sure to read the full terms and conditions so you do not miss out on the risk-free bet.
Pros of bonus bets back if your first bet loses
The main benefit of offers giving bonus bets back if your first bet loses is that you essentially get a “second chance” if your first bet loses. This allows you to place a large bet (if you’d like) and reap the rewards if you win and have a chance at not completely losing your money if you lose.
For example, if you place your first bet of $1,000 on an event with +100 odds and you win, you quickly double your money which you can withdraw or continue betting with.
Cons of bonus bets back if your first bet loses
The main downside of offers giving bonus bets back if your first bet loses is that you can lose all of the money wagered on your first bet if you also lose your bonus bet.
For example, if you lose your first bet of $1,000 and then get the bonus bet of $1,000 and also lose that, you’re out $1,000.
For this reason, offers like these that issue the refund as multiple bonus bets (as opposed to a single bonus bet) are ideal since you have more than one shot at earning some money back.
Sportsbooks that offer bonus bets back if your first bet loses
Must be 21+ in most states. Gambling problem? Call 1-800-GAMBLER
Sportsbook | States | Intro Promo* |
|---|---|---|
AZ, CO, IL, IN, IA, KS, KY, LA, MA, MI, NJ, NY, OH, PA, TN, WV, WY, VA | Up to $1,500 Back in Bonus Bets | |
AZ, CO, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, NJ, NY, NV, OH, PA, TN, VA, WV, WY | $1,000 First Bet on Caesars | |
AZ, CO, IL, IN, IA, LA, MI, NJ, NY, OH, PA, VA | 2nd Chance Bet Up to $500 | |
CO, IA, KY, LA, NJ, OH, VA | First Bet Safety Net up to $1,000 | |
PA | 2nd Chance Bet Up to $500 | |
AZ, CO, IN, IA, LA, NJ, OH, PA, VA | First Bet Insurance Up to $250 | |
AZ, CO, IL, IN, KS, KY, LA, MA, MI, NJ, OH, PA, TN, VA | Up to $1,000 Back in Bonus Bets | |
AZ, IN, IA, NJ, PA, VA | Second Chance Bet Up to $500 |
*May vary by state.
4) Deposit Match Bonuses
The second most popular form of intro bonuses for new customers is a deposit match. Some sportsbooks may also offer deposit matches even after you’ve been betting with them for a while and have already taken advantage of the welcome bonus.
Deposit matches are pretty straightforward. Sportsbooks will match your first deposit by a certain percentage (usually 20% to 100%) up to a certain amount of money.
For example, a sportsbook may offer a 100% deposit match up to $500. This means if you deposit $500, the sportsbook will add $500 to your account as site credit. Or, as another example, a sportsbook may offer a 50% deposit match up to $1,000. This means if you deposit $1,000, the sportsbook will give you $500 in site credit.
You then have to bet the site credit a certain amount of times—called the playthrough or rollover requirement—before you can withdraw any winnings from it.
The deposit match is typically issued as multiple bonus bets. This is ideal because you don’t have to risk the entire bonus on a single bet like you do with many risk-free bet promos.
Pros of deposit match bonuses
Deposit matches are great because you are given site credit no matter what. You don’t have to lose a bet to receive it as you do with risk-free bets. You simply deposit real money and receive site credit as a result.
In addition, as mentioned before, deposit matches are typically issued as site credit—not a single free bet. This means you can wager the site credit on as many bets as you’d like, in whatever increments you’d like. You don’t have to risk all of the deposit match on a single bet like you would with most risk-free bets.
Cons of deposit match bonuses
Compared to risk-free bets that almost always have a 1x playthrough requirement, you often have to bet the site credit from deposit matches 5, 10x, 20x, or even as much as 25x before it converts to cash. This means if you earn $1,000 in site credit, you may have to bet as much as $25,000 before you can withdraw it.
What makes these often large rollover requirements even worse is that you typically only have a certain amount of time—such as 30 days—to meet them. In the example above, you would have to bet $25,000 in 30 days to receive the full $1,000 in bonus money.
Sportsbooks that offer deposit match intro bonuses
Must be 21+ in most states. Gambling problem? Call 1-800-GAMBLER
Site | States | Intro Promo |
|---|---|---|
AZ, CO, CT, IL, IN, IA, KY, LA, MA, MI, NH, NJ, NY, PA, TN, WV, WY, VA | 20% deposit match up to $1,000 | |
All except CT, DE, HI, ID, IA, LA, MI, MT, NV, RI, WA | 100% deposit match up to $100 | |
All states (some games not available in certain states) | 100% deposit match up to $100 (promo code: ODDS100) | |
All except AK, AR, HI, MN | 100% deposit match up to $100 (promo code: ODDS100) | |
All except AZ, CT, DE, HI, ID, IN, IA, LA, ME, MI, MS, MT, NV, VT | 100% deposit match up to $500 (promo code: ODDS500) | |
AL, AR, AK, CO, CA, DC, FL, GA, IL, KY, KS, MN, MA, NE, NM, ND, NC, OK, OR, RI, SD, SC, TX, UT, VT, WY, WI | 100% deposit match up to $100 (promo code: ODDS100) |
*This is a DFS site offering Pick'em games—not a sportsbook or sports betting site
5) Bet & Get Offers
Bet and get offers work exactly as they sound: you bet a certain amount of money and get a certain amount in bonus bets.
Typically, you have to bet a small amount of money—around $1 to $20—and receive a much larger amount in bonus bets.
That's the main benefit of these offers. They require much little upfront investment but give a good amount in bonus bets.
Another benefit is that you receive the bonus bets regardless of the outcome of your initial bet. The only exception is sometimes there will be one stipulation that must be met, tough it's almost always something that is sure to happen.
For example, during the NFL season, a lot of sportsbooks will offer promos like “Bet $10 and get $200 in bonus bets if either team scores a point.”
Bet & Get offers are arguably the best form of sign-up bonuses currently available because of the large guaranteed bonus amount for a small upfront investment.
Pros of Bet & Get Offers
As mentioned, bet and get offers are so good because they require a very small upfront investment and the bonus bets are almost always guaranteed.
Cons of Bet & Get Offers
The only real downside of bet and get offers is that they typically don't have as much value as some other sign-up bonus offers.
For example, many sportsbooks offer $1,000 back in bonus bets if your first bet loses or deposit match bonuses. These do, however, require a much larger investment to max them out.
Must be 21+ in most states. Gambling problem? Call 1-800-GAMBLER
Sportsbook | States | Intro Promo |
|---|---|---|
AZ, CO, CT, IL, IN, IA, KS, KY, LA, MA, MD, MA MI, NJ, NY, OH, PA, TN, VA, WV, WY | Place $5 Moneyline Bet, Get $150 in Bonus Bets If Your Team Wins | |
CO, MI, VA | Bet $20, Get $100 in Bonus Bets | |
CO, IA, KY, LA, NJ, OH, VA | Bet $5, Get $150 in Bonus Bets |
6) Earning Free Bets from Wagering
The last type of free bet that sportsbooks offer is not an intro promo for new customers but free bets for regular bettors.
Most often, sportsbooks will run promotions where you can earn free bets for doing certain things such as betting a certain amount of money in one week, placing a bet on a certain game, or something similar.
For example, sportsbooks may give you a $5 free bet for every touchdown the team you place a $25+ moneyline bet on scores.
When it comes to these kinds of free bets, be sure to weigh the profitability of what you have to do to win the free bet versus the value of the free bet.
In the scenario above, for example, you could look up the stats on how many touchdowns that team scores a game plus how many touchdowns the opposing team lets up a game, to estimate how many touchdowns your team will score and, therefore, how much in free bets you can expect. Do the expected free bets you will receive outweigh the “juice” that the sportsbook charges you?
You should also consider if these free bet promotions may lead you to gambling unresponsibly. Sportsbooks, after all, want you to bet more money because, on average, the more you bet the more they make. It’s always smart to set betting limits and stick to those, even if that means having to forgo free bet promotions (that require you to bet over your limit).
Things to Keep in Mind with Free Bets & Other Betting Offers
Most sports betting offers have terms and conditions that dictate exactly how they work and what is required to take advantage of them. It’s essential to read these terms and conditions before you place your bets.
Here are some key details to look out for in the terms of sports betting offers:
1) If You Need to Use a Promo Code or Opt-In
The first thing you should check is whether you need a promo code, have to opt into the promotion, or do anything else to be eligible for it.
It’s usually a mixed bag of whether you have to do something first or whether you are automatically eligible for bonus bets bets and other promos.
As mentioned above, check the terms and conditions or look for an “Opt-In” button before assuming that you will receive the promotion.
>> Read More: Best Sportsbook Promo Codes or Best NFL Betting Promo Codes
2) How Long You Have to Place the First Bet or Qualify for a Deposit Match
With intro bonuses for new customers, you typically have a certain amount of time after registering to qualify for bonus bets and deposit matches.
For example, you may have to place your first qualifying wager or make your first deposit within 7 days of registering for your account to be eligible for the promo.
For bonus bets back if your first bet loses, especially, you may want to time up your registration with when you have a bet that you like. That way, you won’t be rushed to place a bet on something you aren’t really comfortable with just to take advantage of the intro promo.
3) Odds Requirements on Bonus Bets & Deposit Matches
Another thing to check is if there are any odds requirements on bonus bets and bets made with deposit match bonuses. Often, sportsbooks will require that you use these on bets with odds of some amount or longer.
For example, a sportsbook may require that you place your bonus bet on an event with odds of -200 or longer (-110, +150, +350, etc.).
If you don’t check the odds requirements, you may accidentally think you have already placed a qualifying wager when you really haven’t, then have the bonus bet or site credit expire.
4) How Long You Have to Use Bonus Bets or Deposit Match
Just like you usually have a certain amount of time to place your initial bet or deposit money into your account after registering, there are typically also time requirements on how long you have to use bonus bets and site credit from deposit matches.
The most common time periods I’ve seen are 7 days, 30 days, and 365 days. As you can tell, this is a big range, so it’s important to check the fine print so you know exactly how long you have.
This is especially important with deposit match bonuses that have high rollover requirements (5x, 10x, 25x, etc.). A $1,000 deposit match with a 25x rollover requirement, for example, requires you to bet $25,000 before it is turned into cash. If you only have 30 days or less before it expires, that’s a lot of betting in a short amount of time.
5) Rollover Requirements
Speaking of rollover requirements, be sure to check if there are any.
Most bonus bets from online sportsbooks only have 1x rollover requirements; meaning you only have to wager the bonus bet one time before you can withdraw the winnings (if you win, that is). They don’t all, however, so be sure to double-check.
As mentioned in the previous section, you have to be especially aware of rollover requirements with deposit matches. These often have higher requirements that may require you to bet the site credit many times before it is converted to cash.
Which States Have Sportsbooks That Offer Free Bets & Other Bonuses?
Almost every state that has legal online sports betting has sportsbooks that offer free bets and other kinds of promotions. All of the following states have legal online sports betting with various sportsbooks that have betting offers you can take advantage of.
Click on your state to compare the best intro promos and learn about other kinds of bonuses sportsbooks offer there:
- Arizona Sportsbooks Promo Codes
- Colorado Sportsbooks Promo Codes
- Connecticut Sportsbooks Promo Codes
- Florida Sportsbooks Promo Codes
- Illinois Sportsbooks Promo Codes
- Indiana Sportsbooks Promo Codes
- Iowa Sportsbooks Promo Codes
- Michigan Sportsbooks Promo Codes
- Nevada Sportsbooks Promo Codes
- New Hampshire Sportsbooks Promo Codes
- New Jersey Sportsbooks Promo Codes
- New York Sportsbooks Promo Codes
- Oregon Sportsbooks Promo Codes
- Pennsylvania Sportsbooks Promo Codes
- Rhode Island Sportsbooks Promo Codes
- Tennessee Sportsbooks Promo Codes
- Virginia Sportsbooks Promo Codes
- West Virginia Sportsbooks Promo Codes
- Wyoming Sportsbooks Promo Codes
