What Is A Sportsbook Signup Bonus?
A sign-up bonus, one of the many different betting offers, is an exclusive promotional offer that targets and rewards gamblers who register on online betting sites.
To be eligible for the promotion, you need to be new to the site. So if you’ve ever registered on a site—even on the site’s casino or DFS section—you won’t qualify for the site’s current sign-up bonus.
Sign-up bonuses come in different forms. On most stateside sportsbooks, you’ll likely come across one of the following bonuses:
- Bonus Bets – Bettors are guaranteed a refund if their initial wager on a site loses.
- Deposit Match Bonuses – Sportsbooks reward new bettors by matching their very first deposit.
- No Deposit Bonuses – Unlike the other two, you don’t need to deposit any funds in order to earn a bonus.
What To Look For When Choosing An Online Signup Bonus?
Even when you come across a lucrative sign-up bonus, you still need to consider some crucial factors before you jump on the offer. Here are some things that we suggest looking out for:
The betting site’s reputation – If you do your homework, you’ll be able to find out whether the site in question is a reputable one.
Most importantly, you need to ensure that the site is a legal and licensed one; this will guarantee the constant safety of your funds.
Wagering requirements – A sportsbook may offer you a great sign-up bonus, but they may make it hard for you to withdraw the bonus by including extreme wagering requirements.
That’s why you should always go for bonuses with lenient wagering requirements, i.e., ones that don’t force you to wager the bonus a ludicrous number of times.
How the bonus will be awarded – Are you receiving the bonus funds as cash, site credit, or bonus bets? Of course, cash bonuses are the best, but no sportsbook is going to offer you a cash bonus, especially if you’re just signing up.
Bonus bets and site credit both have their advantages, so it’s up to you to decide which of the two you prefer.
Sportsbooks With A Signup Bonus
Here are some signup bonuses offered by legal sportsbooks:
DraftKings Signup Bonus
- 20% First Deposit Bonus Up To $1,000
- Bonus is 20% of your first deposit
- The maximum available bonus is $1,000
- Minimum odds of -300 apply
- Has a 25x wagering requirement
- Unused bonus funds will expire after 90 days
FanDuel Signup Bonus
- Bonus bet Up To $1,000
- If your first bet on FanDuel loses, you’ll receive a refund
- The maximum refund amount is $1,000
- Bonus is given as site credit
- Unused bonus funds will expire after 14 days
BetMGM Signup Bonus
- Bet 10 Win 200 NFL promotion
- Bonus bet Up To $1,000
- Lose your first bet on BetMGM, and the sportsbook will give you a refund
- Maximum amount you can get back is $1,000
- Bonus is given in bonus bets
- Bonus bets must be used within 7 days
PointsBet Signup Bonus
- Get 2 Bonus Bets Up To $2,000
- Receive two refunds totaling up to $2,000 if your first bets on the site lose
- Refunds are given as bonus bets
- Up to $500 back if you lose your first fixed odds bet
- Up to $1,500 back if you lose your first PointsBetting bet
- Bettors should receive bonus funds within 24 hours
BetRivers Signup Bonus
- 100% Deposit Match Bonus Up To $250
- Bonus is equivalent to a dollar-for-dollar first deposit match
- The maximum bonus available to a new punter is $250
- Bonus carries a 1x play-through requirement
- Any sports bet placed using bonus funds must have odds of -200 or higher
- Bettors have 30 days to play through the bonus funds
- Minimum amount the sportsbook will match is $10
How Sign-Up Bonuses Work
Sign-up bonuses are straightforward. When you sign up on a sportsbook, you get some extra betting credit while the sportsbook earns your betting dollars.
Depending on the sign-up bonus, you may need to fund your betting account. Other sign-up offers, such as bonus bets and match bet bonuses, will reward you when you place your first wager on the site.
Of course, no deposit bonuses are the best of the lot since you don’t need to deposit any funds or risk your bankroll to earn such bonuses.
Advantages Of A Sign Up Bonus Sportsbook
Sign-up bonuses boast the following advantages:
- Most sign-up bonuses deal with large amounts
- Sign-up bonuses give bettors the freedom of trying out new sites without risking too much upfront
- Most sign-up bonuses are hassle-free
Disadvantages Of A Sign Up Bonus Sportsbook
On the other hand, here are a few disadvantages of sign-up bonuses:
- Sign-up bonuses tend to have many restrictions
- High play-through requirements are usually involved
- Some sign-up bonuses only reward you when you lose, meaning that you end up gaining nothing
Restrictions Around Signup Bonuses
Every sports betting bonus has restrictions surrounding it. Without such restrictions, it would be easy for manipulative bettors to abuse and exploit promos offered by sportsbooks.
Regarding sign-up bonuses, here are a few restrictions that you always need to keep in mind:
You need to be completely new to the site – As we said, if you had previously signed up to a site, you won’t be eligible for their sign-up bonus.
This means that if you’d previously signed up as a casino or fantasy sports player, you won’t qualify for the sign-up offer offered by the sportsbook, even if you’ve never used the sportsbook.
One user per household – To prevent possible exploitation from members of the same family, sportsbooks usually restrict sign-up bonuses to one user per household.
So if a family member had previously claimed a sign-up offer from a sportsbook, you won’t be able to enjoy the same offer.
Minimum odds apply – You’ll need to clear the wagering requirements attached to the bonus in order to withdraw the bonus.
When you’re trying to meet these requirements, most sportsbooks will restrict you to a certain range of odds. Therefore, bets placed below the stated minimum price won’t count towards the wagering requirements.
How To Get A Sportsbook Signup Bonus
The only way to get a sign-up bonus is by registering on a new betting site. On some sportsbooks, you’ll need to present a valid sign-up code.
Other sportsbooks won’t necessitate that you present such a code and will reward you once you complete the registration process.
It’s important to note that you’ll need to verify your betting account in order to get a sign-up bonus.
On most sites, to verify your new betting account, you just need to send valid identification documents, such as a driver’s license, to the sportsbook.
What Are The Best Signup Bonuses For Existing Users?
Existing users don’t qualify for sign-up bonuses since these offers only target new customers.