Best Sportsbook Promos

Alicia Butler
Written by:
Alicia Butler
Andrew McDermott
Fact checked by:
Andrew McDermott
đź—“
Updated: September 21st 2023
1
FanDuel logo
Uno J. profile picture
98% Read review by Uno J.
Bonus Bet
$1,000 No Sweat First Bet
Get bonus
21+ New Customers Only. Problem? Call 1-800-GAMBLER
2
DraftKings logo
Alicia B. profile picture
98% Read review by Alicia B.
Bet & Get
Bet $5 Get $150 Instantly + Daily No Sweat SGP
Get bonus
21+ New Customers Only. Problem? Call 1-800-GAMBLER
3
BetRivers logo
Alicia B. profile picture
98% Read review by Alicia B.
Deposit Bonus
Get up to $500 in casino losses back in first 24 hours
Get bonus
21+ New Customers Only. Problem? Call 1-800-GAMBLER
“This page contains references to products from one of our advertisers. We may receive compensation when you click on links to those products. This compensation does not impact our opinions in this review or elsewhere about these products. Terms apply to the offers listed on this page. For an explanation of our Affiliate Policy, please click here. Thank you.”

When online sports betting launched in the United States, it quickly became a gold rush for sportsbook operators to acquire as many customers across legal gambling states as possible.

To do so, they offer thebest online betting offers for new customers in hopes that players will sign up and then continue to play on the platform once they’ve received their sportsbook promotion that included free money, bets, or credits on the platform.

The goal for the sportsbooks is simple, and that's to bring as many people to the platform as possible in hopes that they choose to continue playing long after they’ve received the sign-up bonus. They do this even with existing promos, which I will also explain.

What Is an Online Sportsbook Promotion & How Does It Work?

An online sportsbook promotion is an offer or bonus that sportsbooks promote to acquire (and then retain) customers.

These offers can vary depending on the operator, the time in the sporting calendar, and more factors – for example, they’ll have improved offers when a state launches.

Often these promotions will offer a user free money, insurance, or in some rare cases – official apparel – for signing up and placing a bet on the platform.

This incentivizes a user to sign up and deposit money on the platform with the operators hoping that they like what they see and continue to use the operator in the future.

Best Promos for Sports Betting

Every online sportsbook operator wants to stand out from the competition and in turn will offer unique and differentiated promotions. There are many types of promotions that sportsbooks will offer for their welcome bonus, and we’ve compiled a list below of the most popular promotions.

Deposit Match Bonus

Deposit matches are normally for first-time deposits, but sometimes there are reload match bonuses.

A deposit match is a simple, self-explanatory promotion. You make a qualifying deposit and you’ll receive a portion – usually 100%, but sometimes lower especially in the case of reload bonuses – back in bonus bets and bet credits.

Deposit matches usually have a more strenuous wagering requirement than other promotional offers. Although some operators will have only a 1x wagering requirement (must play through all bonus bets one time), some may require you to play through your bonus bets and/or deposit amount anywhere from 3x - to 10x times.

Risk-Free Bet

Risk-Free bets, also known as no-sweat bets, bet insurance and first bet offers are one of the most popular promotions offered by a sportsbook.

The way it works is you sign up for the platform, make your first deposit, and place your first bet on a qualifying wager. If it wins, you’ll get your stake and winnings back as you normally would. But if your bet loses, you’ll get your stake back in bet credits up to a certain amount.

Usually, these offers ranged from anywhere from $250 to $3,000 in the case of special events such as the Super Bowl, NBA Finals, or World Series.

Bet & Get

A bet and get offer is also one of the most popular options for a sportsbook welcome bonus, you sign up and place your first bet of an amount – usually ranging from $1 - $100 – and you’ll receive a corresponding amount of bonus bets.

The amount will vary greatly based on the operator, time of the year, and in general, how generous an operator is feeling. Some of the bet and get promotions require you to win your first bet, some will pay out whether your bet wins or loses, and they will vary based on the odds-restrictions depending on the operator.

Bonus Bets

Bonus bets, also known as free bets, bet credits, and various other nicknames, are bonuses and site credits offered to players through the above promotions, retention offers, and sometimes just for logging in.

Bonus bets can not be withdrawn and must be bet or played through at least once, some operators may require you to play through the bonus bets more than once. Be sure to check out each operator's terms and conditions before signing up and wagering your bonus bets.

Another note for your bonus bets is they will not return the stake of your wagers. For example, if you were to win a $25 bet at (+100) odds with cash, you’d receive $50 ($25 bet and $25 profits). If you were to place the same wager with free bets, you’d receive just the $25 in profits.

Which Sportsbooks Have the Best Betting Promotions?

DraftKings

DraftKings specializes in bet and gets and for the last couple of years, has regularly run bet and get promotions as their welcome offer. It usually involved a new user creating an account and betting $5, and getting $150 - $200 in bonus bets instantly upon bet placement.

They’re currently offering a Bet $5, Get $200 for new sign-ups – just click this link, create your account, and place your first bet of $5+ and you’ll get $200 in bonus bets instantly!

FanDuel

FanDuel is an operator that prefers to provide variety in their welcome bonus, normally switching between a No Sweat bet and bet and get promotion depending on the time in the sporting calendar.

The No Sweat bet is usually $1,000, but for the Super Bowl was up to $3,000. And the bet and get usually sits at a Bet $5, Get $150 – although at times has been boosted to $200 in bonus bets.

The current offer for the start of football season is a Bet $5, Get $200 in bonus bet and you can click this link to sign up for FanDuel today and claim your Bet $5, Get $200 in bonus bets.

BetMGM

BetMGM’s main offer has remained a first bet offer – also known as a risk-free bet – for some time now and is the preferred welcome bonus.

Click this link and sign up to activate the offerand place your first bet on BetMGM, if it loses, get your stake back in bonus bets up to $1,000.

BetMGM has also previously run a “No Brainer” for the Super Bowl, NBA Finals, NHL Playoffs, and World Cup where new sign-ups would get $200 in bonus bets if they placed a $10+ bet and anyone scored a touchdown, made a three-pointer or scored a goal.

Caesars

Caesars normally leans toward a risk-free bet for their welcome offer and is currently offering $1,000 in bonus bets back on your first wager.

Caesars is one of the top operators in the country and offers a high-dollar first bet offer, however, one knock against the Caesars welcome bonus is that it will return your stake in one single bonus bet.

Other operators may allow you to break up the bonus bets received from first bet insurance into smaller increments meaning you’ll have more chances to win a bet to retain a portion deposit.

Caesars has previously run bet and get promotions as well, but they’ve been few and far between and have usually offered new sign-ups some sort of first-bet insurance.

How to Claim a Sportsbook Promotion

Signing up and claiming a sportsbook promotion is easy, just follow the prompts on the website/app and be sure to read the terms and conditions for any terms and conditions.

The steps will likely look something like this:

  • Click “Get Bonus” on the top of this page for the sportsbook operator you want to sign up for.

  • Input personal information including name, email address, DOB, and any other prompts.

  • Complete any other necessary identity and location verification steps.

  • Opt-in to the applicable promotion (if required).

  • Make a qualifying deposit or wager.

  • Receive your rewards!

What Is a Sports Betting Promo Code?

For some sportsbook operators, you may be required to input a promo code when signing up to claim your welcome bonus. At Oddsseeker, we will let you know for each offer whether or not the operator requires a promo code.

Do I Need a Sportsbook Promo Code?

Some sportsbooks will require a code to claim their sign-up offers, but some may not.

Be sure to double-check before signing up for an online sportsbook whether or not they require a promo code in order to claim the sign-up bonus and check Oddsseeker for the promo codes for the best bonus offers.

The Best Way to Use Sportsbook Promotions

Since a majority of sportsbook promotions will offer their best promotions for your initial deposit, you should take advantage by maximizing the promotion.

For bet and gets, this is relatively easy. Simply ensure you place enough money on your qualifying wager – and that it meets any odds restrictions – and double-check whether you need to win the bet or not to qualify.

For deposit matches and risk-free bets, this does get a bit more precarious. The amount of deposit match and risk-free bet will vary depending on the operator, but you should attempt to maximize them as much as your bankroll permits.

If the maximum is a $1,000 deposit match, to maximize the bonus you’d need to make a $1,000 deposit. If it’s a risk-free bet, you’d need to place a $1,000 bet as your first bet.

If your qualifying risk-free bet does lose, or if you have bonus bets acquired through a bet and get, you should consider using them on wagers with longer odds. Since you will not get your stake back, only the profits, using bonus bets on wagers with plus odds is a way to try to push the envelope with your bonus bets.

What Are the Best Existing User Promotions?

To retain customers, sportsbooks will offer special bonuses and boosts for existing customers. These can be a great way to build your bankroll by receiving increased odds, getting insurance on your wagers, or in some cases, just getting free or bonus bets for logging in and playing on the platform.

Odds Boosts

Odds boosts are an excellent existing user promotion as they increase the value of your bet. The majority of odds boosts come in pre-packaged Same Game Parlays provided by the operator with the most popular picks and often attempt to predict a “story” from the game.

For example, a Chiefs SGP may be promoted with boosted odds that include the Over of 54 points, Patrick Mahomes throwing for over 250 yards and Travis Kelce scoring a touchdown.

Profit Boosts

Profit boosts are similar to odds boosts but with the added element of allowing you to select which bet (as long as it meets certain criteria) to get increased odds (and in turn profits).

This offer is popular for parlay and Same Game Parlay wagers, and many platforms will make these offerings for the most popular markets. For example, they might offer one profit boost for the Thursday, Sunday, and Monday of the NFL slate. Or perhaps, one for each day of the week for MLB bets.

Bet Insurance

Bet Insurance, no-sweat bets, and other forms of the previously known as “risk-free bets” are some of the most popular options for existing user sportsbook promotions. They can be great because they allow you to place a bet (a straight bet, future, parlay, etc.) and get your stake back up to a set amount.

Most operators will not return the stake in cash but in the form of bonus bets, bet credits, or another version of site credit.

No Brainer Bets

A “No Brainer” bet is the rarest but by far the best existing user promotion that sportsbooks offer. These wagers are usually the biggest odds boosts or newly created markets that would require a minor miracle to *not* win.

It could be a star player gaining a single yard, one touchdown to be scored in a game, or a three-point basket to be made in an NBA game. These are rare offerings but are nearly guaranteed to win, and may be offered for big events such as Week 1 of the NFL season, the Super Bowl, the NBA playoffs, and other marquee sporting events.

Which Sportsbooks Offer the Best Existing User Promotions

BetMGM

BetMGM is especially active in prop betting promotions for existing users, especially, in the NFL and NBA seasons.

One of their most popular promotions is First Touchdown Scorer insurance for the NFL, where users who place a First TD scorer wager for select games can get their stake back in bonus bets if the player scores a touchdown later in the game.

BetMGM will also offer bet insurance, profit boosts, and more offers surrounding around prop bets and other markets.

FanDuel

FanDuel is the top sportsbook in the United States and for good reason, as they offer some of the best sportsbook promotions for existing users.

All users on FanDuel – especially those who regularly bet on the platform – will receive promotions on a daily basis.

These offers will vary in value based on your account standing – number of and average wager size, length of account life, and more factors – but you can expect to see a nice mix of profit boosts, bet insurance, and the occasional “no-brainer”.

DraftKings

DraftKings’ promotions for existing users will lean more toward profit boosts but occasionally they’ll offer a No Sweat bet for select markets. These promotions are also heavily skewed toward parlays and same-game parlays, and will be offered on almost all sports and markets.

Similar to FanDuel, these promotions will vary in monetary amount based on your account activity and standing.

Caesars

Caesars’ Sportsbook promotions will lean more toward bet insurance and parlay insurance, but they’ll also offer a nice mix of profit boosts for select events. You’ll get a great mix of promotions at Caesars and they’ll regularly run daily and weekly promotions for all sports.

They have some of the more unique promotions in the market such as it’s “Bet the Board” NFL promo, where if you bet a certain amount of qualifying games, you can receive bonus bets.

Betfred

Betfred is a smaller operator but one that is constantly offering fun and unique offers for a number of sports. They’ll have almost a promotion per day for the MLB for home runs, strikeouts, and game props. You’ll also see occasional bet insurance and profit-boost promotions.

One of the best aspects of Betfred is that they’ll run the promotions for the entire season, and you have ample time to prepare and plan your bets. For example, every Saturday they offer the “Strikeout Saturday” where you receive $5 in bonus bets for every strikeout when you bet a starting pitcher's strikeout prop.

Sports With Promotions

NFL

The NFL is the most popular sport in the country and has by far the most money and bets placed on it per year, and with it, come the sportsbook promotions.

You’ll see all of the types of promotions for the NFL including profit boots, risk-free bets, bet-and-gets, and more. You’ll especially see promotions every week of the NFL season from nearly all the sportsbook operators, and will likely see an uptick in offerings surrounding the milestone events – Week 1, Monday Night Football, and the Super Bowl.

NBA

Although among the most popular leagues in the world, the NBA promotions are generally pretty bland in comparison to the NFL and other top leagues.

You will see a lot of profit boosts and bet insurance for parlays and SGPs, and a lot of prop-centric boosts and promotions. You also may be lucky enough to get special bet and get promotions and receive a bonus if a team scores a point or makes a three-pointer, these “no-brainers” are the holy grail of NBA promotions.

NCAAB

With regulations in many states surrounding college player props, you won’t see as many prop-centric promotions surrounding college hoops compared to their professional counterpart.

However, March Madness is one of the most bet events of the season and you will see a laundry list of promotions around the future, the first weekend of the NCAA Tournament, as well as single game and parlay boosts and insurance.

NCAAF

College Football is king in the south and some parts of the midwest, and one of the most popular sports to bet in the country. The majority of NCAAF promotions revolve around parlays and futures, but you may occasionally see single-game-centric boosts as well.

Keep an eye out for no-brainer bets like either team scoring a touchdown or scoring a point, especially if a state recently launched or if it is a big game for your local college program.

NHL

The NHL, especially around the playoffs, is one of the most exciting things to bet in the US market. Operators will often offer profit boosts, bet insurance, and more special offers for sides, totals, and player props.

One fun market to look for promotions is first goal scorer props as they can be extremely profitable and many operators will offer insurance on these types of wagers.

MLB

The MLB is a season-long grind with 162 games and anywhere from 10-15 games happening across the league on any given day. The great thing about MLB promotions is the variety offered, you’ll see daily boosts and promotions on games, totals, parlays, and player props on most operators.

Look For More Than One Sportsbook Promotion

One of the best things you can do to help build your bankroll and improve your sports betting record is to use multiple platforms.

Not only will this allow you to take advantage of multiple sign-up offers; but will also allow you to get a wider variety of retention offers, get the best odds on your bets, and build your bankroll while enjoying the unique benefits and offers of each online sportsbook.

And if you are ever interested in shifting from sports betting to casino games, such as slots or blackjack, check out the best online casino promos available.

Alicia Butler
Topic Expert
Alicia Butler

Alicia is OddsSeeker's Lead Editor & Fact Checker! She's been reviewing online casinos, sportsbooks, and other gaming since 2021, but has well over a decade of experience writing and editing for some of the largest online magazines and brands since 2011! Over her career, Alicia has worked as a travel and entertainment writer & editor contributing to widely read digital publications such as The Spruce, The Balance and The Spruce Pets, VeryWell, and TripSavvy. Alicia makes sure our readers can trust every word - holding both our team & our gaming operator partners to the highest standard to ensure that our readers always have the best possible experiences playing gaming online! Beyond OddsSeeker, Alicia is a marketing expert, entrepreneur, and avid traveler based in Connecticut!

More about Alicia Butler

Get Free Bonuses Straight to Your Inbox