What Is A Deposit Match Bonus?
As the name of the promo suggests, in a deposit match bonus, a sportsbook awards you with a bonus by matching your deposit.
The amount that the book will match will depend on the terms of the bonus. However, this will always be stated as a percentage.
For example, if a sportsbook is offering you a 20% match, your bonus will be equivalent to 20% of your deposit.
When offered as a welcome bonus, deposit match bonuses are also known as first deposit bonuses, and a sportsbook will always match your initial deposit in such a case.
Some sportsbooks will also offer deposit match bonuses to existing users as part of ongoing promos.
What To Look For When Choosing A Match Deposit Bonus?
Interested in getting the best possible deals on deposit match bonuses? Well, here are some key factors that sly bettors look out for in such bonuses:
Wagering requirements – Even lenient sportsbooks still require that you meet certain wagering requirements. To be able to cash your bonus, you’ll need to risk it a couple of times.
For example, a 3x wagering requirement means you need to wager the bonus a minimum of three times.
With this in mind, always look for deposit match bonuses that have extremely favorable wagering requirements.
Time is given to meet the wagering requirements – You want a bonus that gives you as much time as possible to meet the sportsbook’s wagering requirements.
Remember, you still have to search for bets by conducting the appropriate research, especially if you want to cash out the bonus eventually.
If you go for a bonus that limits your time, you’ll end up placing hurried bets, meaning that you’ll more than likely lose the bonus.
The amount you need to deposit – Always try to go for bonuses that give you more bang for your buck—i.e., offers that give you more for simply depositing less.
For example, If you have to choose between a bonus offering you a 20% match and another offering you a 100% match, always go for the higher bonus, which, in this case, is the 100% bonus.
Even if the 20% bonus has a $1,000 limit while the 100% bonus has a $400 limit, you’ll still be forced to deposit obscene amounts for you to earn the advertised $1,000 maximum.
How Deposit Match Bonuses Work
As we’ve mentioned in the above section, deposit match bonuses always deal with percentages.
Essentially, the percentage stated by the sportsbook is the amount you’ll receive when you make a deposit. Sportsbooks will also always state the maximum you can earn from such bonuses.
An example will explain this perfectly. Let’s say Sportsbook A advertises the following offer: A 100% Deposit Match Bonus, Up To $1,000.
Any amount that you deposit will receive a 100% match, meaning that if you were to deposit $500, you’d end up with a $500 bonus.
If the sportsbook instead advertised a 50% match and you still deposited the same amount, you’d end up with a $250 bonus rather than a $500 bonus.
Also, as you can see in the above offer, the sportsbook has stated the maximum amount that a bettor can receive from the offer: $1,000.
Advantages Of A Deposit Match Bonus
Deposit match bonuses are great. Here are some advantages that such bonuses boast:
- Bettors are guaranteed a bonus
- Usually deals with large amounts
- You can control the amount you’ll receive by increasing or decreasing your deposit
Disadvantages Of A Deposit Match Bonus
Deposit match bonuses may be great, but they still have a few drawbacks.
Here are a few disadvantages that such bonuses have:
- Play-through requirements are usually high
- You‘ll be forced to increase your deposit if a sportsbook is matching a meager percentage, thus increasing your risk
- Most deposit match bonuses are given to new bettors instead of loyal users
- These are not “no wager bonuses“
Restrictions Around Deposit Match Bonuses
It’s no secret that sportsbooks place restrictions on every sports betting bonus that they offer. These restrictions help protect the sportsbook from exploitative practices.
Concerning deposit match bonuses, here are some common restrictions that are associated with such bonuses:
Minimum deposit amount – Almost all sportsbooks state the minimum amount that they’ll match. This is usually between $10 to $25, but the exact minimum will depend on the sportsbook.
Maximum bonus amount a bettor can receive – The maximum amount you can get from a deposit match bonus will always be stated.
For example, let’s say a sportsbook has advertised the following offer: A 100% Deposit Match Bonus, Up To $500.
As you can see, the maximum amount that you can receive from this bonus is $500. So even if you deposit $2,000, the sportsbook will still give you a $500 bonus.
Minimum odds apply – When you’re trying to meet a promo’s wagering requirements, most sportsbooks will restrict you to certain odds.
For example, a sportsbook may state that only events priced at odds of -200 or greater will count toward the promo’s wagering requirements.
How To Get A Deposit Match Bonus
The easiest way to get a deposit match bonus is by signing up on a sportsbook with a first deposit welcome offer.
This may require that you dig deep, especially if you want to end up with the best sign-up offer—no worries, we’ve got you covered with some of the best deposit match bonuses in the next section.
Also, once you register on a site, keep your eyes on the promotion tab. You may see one or two deposit match offers listed there every once in a while.
What Are The Best Deposit Match Bonuses For Existing Users?
Currently, none of the sportsbooks offer existing users a deposit match bonus.