Sports Betting Bonus 2024

What are Online Betting Bonuses and Promotions?

It’s a cut-throat market out there, especially between online sportsbooks. Although US online sportsbooks are relatively new, there is already a lot of competition between them. Enticing online bettors is one of the main goals of an online sportsbook, and they use marketing strategies to get there. One of these marketing ploys is the bonuses and promotions that you see everywhere. 

Bonuses allow you to reward yourself for signing up with an online sportsbook or making multiple deposits. Knowing exactly which promotions work for you can enhance your bankroll significantly. Take this opportunity to your advantage and win free cash!

Types of Bonuses for Sports Bettors

From Match bonuses to risk-free bets, there are a ton of offers available by bookmakers for online sports betting. The top sportsbooks in the USA offer sports bettors up to $1,000 in rewards. Virtual gaming has led to lots of innovation in the industry. There are options like in-play betting, odd boosts, and other features. With live streaming, there is every advantage over offline operators.

When we think of bonuses, we get ecstatic because, let's face it, everybody loves free stuff. But only a few things in life are free, and sports betting bonuses are not one of them. These rewards are appealing at first look. Some can be quite lucrative, while others have very tedious terms and conditions.

Operators want to pool as many customers as possible. At the same time, they ensure that they have the edge and are continuously making profits. That is why these days, one needs a good combo of strategy and luck when betting online. Click here to see our betting strategy guide. We will take an in-depth look into the kind of bonuses available at online sportsbooks.

What kinds of bonuses and promotions are there?

While we see that the market for bonuses is continuously expanding, you will always find the following selection of promotions around in West Virginia:

• Welcome bonus
• Deposit/Reload bonus
• Cashback promotions
• Free bets bonus
• Referral bonuses

These 5, in combination with each other or all by themselves, are the bonuses you will see the most. Let’s go more into detail what all of them entail.

The Match Bonus

Almost every bookmaker offers a match deposit bonus because it is flexible and easy to understand. As a newcomer to a sports betting site, you will find this as a stand-alone offer or as part of a welcome package.  Because it is so flexible, it appeals to all player levels. You do not have to use it up in a single wager, and there are no restrictions on bet types. It is applied on a progressive basis so the bigger your deposit, the higher the reward.

Take for instance the illustration below:

100% up to $300 on the 1st deposit.

A deposit of $50, will be topped up with $50 leaving you with $100 in total.

And an account funded with $200 will be credited with another $200 making $400 available for betting.

Bookmakers have now taken it even further, going on a bonus parade that extends as far as the 5th deposit. This bonus, however, is not infinite because there is a maximum limit. Bettors who deposit in excess can only claim it up to the highest amount. There is an expiry date attached as well, so you need to complete the rollover and play through the bonus money before then.

This is a great incentive for sports bettors, but it has one of the more challenging terms and conditions. Some sites offer great match bonuses that are easy to clear because they have only 1x wagering requirements.

For instance, 100% bonus up to $250.

Examples of Bonus Terms

• 1x  wagering requirement
• Expiration date- 30 days from the initial deposit.
• Wagers of $200 or lower.

Free Bets

Free sports bets betting bonus

Yet another attractive incentive to play for, the free bet bonus allows you to play absolutely 100% free bets. These bets come in various shapes and sizes, but we found some examples in West Virginia, so you get a better understanding of them:

• $30 in free bets when you make your first $10 bet
• 2 x $10 Free Bets when you place 2 x $10 bets
• Up to $500 in free bets

As with nearly everything, it isn’t as good as it looks. Free bets have very specific rules connected to them. Sometimes you are only allowed to bet on a few sports, while other times online sportsbooks limit you to a few bets.

Notice how the market is changing, as we introduce the no deposit-free bet. It might sound crazy, but some online bookies actually give you credit to bet for free just for signing up with them!

In some cases, these credits are handed out when you progress on the VIP/Loyalty-program. However, other online sportsbooks just want you to start playing and hand them out right away. Combine this bonus with the refer-a-friend bonus, and you got a recipe for success.

Unlike match deposit bonuses which can be found in casinos as well, free bets are exclusive to sports betting. You also have to use them up in one go. Newcomers have the opportunity to wager using the free bet granted by the house. With this reward, you can either play safe or play for bigger winnings because there is no financial risk involved.

For a free bet offer of 100% up to $350

• Make your initial deposit
• Place a wager within the given range
• The free bet activates, and you will find it credited into your account.
• If your original bet is successful, you are awarded the free bet
• If your original bet fails, you still receive the bonus

If the bonus bet comes through, the punter keeps only the profits and not the stake, so a free bet of $350 at -150 odds will earn you a profit of $233. 

Some sportsbooks offer bonuses of 100% up to $500 in free bets.

Risk-free bet

This bonus is not only similar to the free bet in name but also in practice, so punters regularly confuse one for the other. The main difference between the two is that the risk-free bet is dependent on the outcome of your initial bet. Here's how it plays out:

• Make the first deposit at an online sportsbook
• Place you wager on a game
• If you lose the bet, you are awarded the stake amount
• If you win the bet, you get nothing

The concept is that it cancels the initial risk of losing. You could still lose the risk-free bet, but there is a greater probability of winning with a second opportunity.

Some risk-free bets could be as high as $500 depending on the particular sportsbook.

No deposit bonus

A good no deposit bonus offer on the table is an easy decision-maker for inexperienced punters. 

You can experience the thrill of good old sports betting at no financial risk and without the need to make a deposit. This is the closest to Santa Claus that any online sportsbook can get. They are only available for new accounts and usually require you to enter a promo code during registration. You can bet with this bonus right away, but to cash out any winnings, you have to complete the wagering requirements.

No deposit bonuses have short expiration dates, usually within a week. This means there is no time to sleep on it; you need to wager all of it and fulfill any requirements for withdrawal. 

Existing Customer bonuses

We have been talking about new player bonuses until this point.  Now, let's see the rewards available for old users.

Cashback bonuses

Online sports bettors typically go through both rough times and good times. Sometimes, you lose a bet; it happens. Nobody likes to admit it, but there is not a single person who keeps a clean record. To help soften the blow of those first losses and to keep bettors from quitting with them, the online sportsbooks hand their players a cashback incentive. They can look a little like this:

• $35 of your money back if your first bet loses
• $15 cashback guarantee if your first bet loses
• $10 of your wager returned when a specific bet fails. 

Usually, when you bet far below the amounts stated above, you won’t get any cashback. Combine bets or bet big for guaranteed cashback on your bet. Percentage-wise cashback is not uncommon either. Cashbacks are simply a percentage of your losses returned to you. This bonus is usually a moderate amount of about 10% maximum. However, when betting is concerned, such a figure can be quite lucrative, if luck is on your side.

Online Sports Betting Deposit & Reload Bonus in US Bookmakers

So what is the deposit bonus exactly? Once you make your first deposit, online sportsbooks will match up this deposit with a certain percentage. Let’s look at some examples of this:

• 100% deposit bonus up to $100
• 100% deposit bonus for up to a maximum of $250
• 200% welcome bonus up to $400 (Hard to find!)

As you can see, these bonuses can really get up there. We highly recommend looking for the deposit bonuses that work best for you.

Reload bonuses are much the same, but they have one key difference, in that they are strictly for existing customers. When you wish to make a deposit into your account, look out for reload bonuses on offer. They have lower percentages, typically between 10 and 40%, but they also have much lower wagering requirements than the typical welcome bonus offer.

They activate only after you make more deposits. While some require you to complete the previous deposit bonus first, most reload bonuses can be made at any time. All you need to do is make a second, third, or even fourth deposit, and you will initiate the reload bonus. Again, let’s see a typical example of this:

• Make a first deposit to activate the welcome bonus (see examples above)
• Second deposit starts a 100% reload bonus for up to $50
• Third deposit starts a 150% reload bonus for up to $100
• Fourth deposit activates a 200% reload bonus for up to $150

Some online bookmakers limit the number of reload bonuses you can make to 4 or 5. However, others keep on going, just raising the requirements slightly based on how far you are up the reload bonus ladder.

Loyalty & VIP Programs

With loyalty schemes and VIP programs, frequent bettors get extra motivation to bet even more frequently. Such a reward program has achievement levels. For every dollar staked, punters get points that can be redeemed for cash or in the form of free bets. Consistent betting takes you higher up the ladder. Each successive tier comes with greater rewards such as bonus cash, better odds, discounted vig(taxes), and higher point multipliers among others. The perks of being loyal to an operator are quite enticing. Take a look at our detailed article on VIP Programs.

Referral Bonus

Bettors often invite friends and family to join an online sportsbook that they find reliable or lucrative. Some operators have decided to promote this by providing a referral bonus to customers who refer acquaintances to their site. Easy enough, right?

Sign up with an online sportsbook, get an invitation code, and send it over to your friend. When he/she signs up, you receive a referral bonus, awesome! You can do this countless times, and all it requires of your friends is to fill in their details and sign up. Like we said before, players can get free credits to play with just for signing up. Use this bonus to motivate your friends to join!

When signing up, the invitee has to put your referral code or username in the appropriate field. You receive a bonus amount for every new account you refer, and the newcomer may also get a reward from this promo.

The invitee has to bet a stipulated amount for both parties to claim the bonus.

Bonuses and Promo codes

We made a quick mention of promo codes earlier on in this article when discussing no deposit bonuses. A promo code, otherwise called a bonus code, is an alphanumeric code that is created by a bookmaker to enable the activation of a particular reward. It does not apply to every offer. Many bonuses do not require one, but they tend to accompany the more beneficial offers.

Bonus Eligibility

Contained in the T&Cs are the requirements to be able to participate in a bonus or promo. In the USA, there are three major criteria:

State Boundaries

Sports bettors are eligible for sportsbook bonuses as long as they are within the geographical location of the state. Your IP address has to be within the physical limits of the region to wager or claim a bonus.

Appropriate gambling age

In the US, gambling is allowed from 21 years of age. Minors cannot gamble and consequently are not able to join a sportsbook or claim any rewards.

Account Verification

New accounts usually go through verification during registration, but sometimes a bookmaker may request additional information before you can withdraw winnings accruing from bonuses.

Terms and conditions, all you need to know!

Now, you might want to jump straight into the action and start activating bonuses left and right, but we urge you to stick with us for a little longer, as we will explain the caveats in these bonuses and promotions. To complete and receive the reward, you will need to fulfill specific requirements. In the terms and conditions of each bonus is listed what is required of you. Now, online sportsbooks are smart and make it quite complicated for their players. We want to bring you these requirements in plain English so that everyone can understand it easily. 

• By far, the most important word concerning bonuses is the word rollover, but what is rollover? 

The best way to explain rollover is through an example. 

1. You deposit $100 with the opportunity to win a 100% deposit bonus for up to $100
2. You receive your deposit bonus instantly, the rollover required for this bonus is 5X
3. To complete the requirement of the bet, you need to bet: 5 times the initial deposit + the deposit bonus
4. After betting for 5 X ($100 + $100) = $1000, you complete the bonus
5. You are now able to withdraw your deposit bonus if you like

Clear? Let’s look at one more example:

1. Deposit $250 into your account; you are offered a deposit bonus for 50% with a 4X rollover
2. This means that you’ll have $375 to bet with ($250 + ( 50% of $250 )) = $375
3. Rollover of 4X means you have to bet: 4 x $475 = $1900 before you can withdraw
4. Bet the amount and withdraw your bonus if you so like!

Sportsbooks calculate rollover and the bets that go towards clearing it differently, so be sure to read the terms and conditions carefully.

Read, read, read

Our best advice to you, before you activate a bonus, is to read up on the terms and conditions of the bet. It can be that a bonus just looks too good to be true, and they might be. Run through the following checklist to make sure you are well on your way to pick a solid bonus.

1. Read our review about the sportsbook to see if they are trustworthy
2. Read the terms & conditions
3. Consider if this is the right promotion or bonus for you

We did most of the work already, so you don’t have to. Read all about the online sportsbooks in West Virginia and their bonuses, right here at Betting Guide WV.

Making the most of online betting promotions and bonuses

At this point, you are aware of the different types of bonuses and promotions that are out there. There are so many options that you might feel overwhelmed. To benefit the most from these promotions, keep an eye on our promotions page. We update this page with some of the best active betting promotions out there. Always look further than the first offer and accurately read the terms and conditions. You might have to put in a little more effort, but the rewards will be bigger as well!

Conclusion

Sports betting is a competitive industry. On the one hand, everyone wants to be the most successful sports bettor, and on the other hand, all the sportsbooks wish to have as many people using their platform as possible. To attract customers to join their platform and use their sportsbook, they offer bonuses and promotions. With the right amount of research, you can spot the best promotions out there and benefit from the best bonuses. The growing market is still in its infant stage but already has unique bookmakers who offer extremely low playthrough requirements with no strings attached.

The US is a lot more strict with gambling rules than most countries. Only regulated gambling is permitted, so sportsbooks are very reliable and you can find decent bonuses. You're not choosing the good among the bad; instead you will be looking out for the best of the best. We are here to help you make the most out of your sports betting career. We want you to win your bet, but we also want you to earn the most significant rewards possible.