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Best Sports Betting Deposit Bonus
Since online sports betting became legal its been all the craze. Hundreds of thousands of people across the country all partake in some kind of legal, online, regulated sports betting every day, and it’s quickly becoming one of the biggest entities on the market. What’s to thank for that?
Since Sports betting became legal, dozens of sportsbooks gained licenses to operate in various states across the country. Because of this, each sportsbook had to prove that they were better than the all the others–and what better way to do that than giving out free money? If you check out almost any sportsbook on the market, you’re almost guaranteed to see some kind of promo code or bonus they are offering to new users. One of the most popular types of those bonuses are First Deposit Bonuses. You can learn all about First Deposit Bonuses here.
What Is A First Deposit Bonus?
A first deposit bonus is pretty self-explanatory. A first deposit bonus gives you a bonus when you make your first deposit. Many of these bonuses come in different forms, however, so it’s important to know what kind of first deposit bonus you are receiving when you first register for a sportsbook. It’s also important to note that a majority of sportsbooks only offer First Deposit Bonuses to NEW users, so if you have a pre-exsisting account with that sportsbook you are unlikely to receive the bonus.
Types of First Deposit Bonuses
Here are the most common types of first deposit bonuses:
First Deposit Match Bonus: This type of first deposit bonus will match your first deposit by a certain percentage, up to a certain amount of money. So, for example, a first deposit match bonus could look like this: 100% match on first deposit up to $1000.
What this would mean is that you would receive a 100% match (so $1 for $1) on your first deposit, up to $1000. So if you deposit $1000, you will receive $1000. If you deposit $1001, you will only receive $1000.
Most first deposit match bonuses have some stipulations, so I would be sure to check those out before depositing. For example, the matched money you receive is typically in the form of free bets or sportsbook credit, so you are unable to just withdraw the funds they give you. Also, often times there is a wagering requirement, which may force you to wager a certain amount of money before the winnings you receive from your matched funds become available. You can read more about first deposit bonus stipulations later in this article.
First Deposit Risk-Free Bet: Some sportsbooks will grant you a risk-free bet once you make your first deposit, with its value depending on how much you initially deposit. So, for example, a sportsbook may grant you a risk free bet up to $1000 upon your first deposit. Sometimes they make you deposit MORE than the value of the risk-free bet in order to earn the max value, but this is something you should be able to read about in the rules and regulations.
Partial First Deposit Match: Some sportsbooks will only offer a partial first deposit match. So instead of offering a 100% match up to X amount of dollars, they will offer a 50% match. It still works the same way, you just get less bang for your buck.
First Deposit Match Bonus Stipulations
Some first deposit match bonuses have stipulations, otherwise known as wager requirements. I touched on this earlier, but basically what this means is that some sportsbooks will require you to wager a certain amount (usually a certain multiplier of the amount you are due to receive) in order to actually receive your funds. So, if there is a first deposit match bonus of 100% up to $1000 and you deposit $1000, you will receive a $1000 bonus. However, lets say the wager requirement is 5x, you will have to have wagered $5000 (five times the amount deposited) in order to receive your initial $1000.
Each first deposit bonus is different, so I would be sure to check out the terms and conditions of each one before making your first deposit.
Popular Sportsbooks That Offer First Deposit Bonuses
Here are some of the most popular sportsbooks that are currently offering first deposit bonuses:
DraftKings Sportsbook is one of the best and most popular sportsbooks on the market, and there’s a good reason why. Not only are they incredible safe and reliable, but they also offer some of the best bonuses in town–and this stands true for their first deposit bonus. They will match your first deposit 100% up to $1000.
BetRivers is a newer sportsbook, so their first deposit bonus is a bit lacking compared to more established sportsbooks like Draftkings. However, they are still matching your first deposit up to $250.
WynnBet took a page out of DraftKings playbook and is offering an insane first deposit match bonus. They’ll match up to $1000 for FREE.