Why Do Sportsbooks Offer Betting Promotions?
Let’s face the facts. Since the legalization of sports betting in the United States, we have seen immense growth in the industry.
And as new states legalize the practice of sports betting, more and more sportsbooks rapidly follow shortly thereafter.
Because of all the competition, these sportsbooks must separate themselves from one another. While all sportsbooks are meant to do the same thing – bet on sports – they are all not created equal.
Sportsbooks must separate themselves by offering better odds, larger boosts, more lucrative promotions, and everything in between.
To keep it simple, sportsbooks offer promos to drive business and attract new users.
How Do I Claim An Sportsbook Promos?
- Links that you will find right here at BestOdds.com
- Promo codes – BESTODDS
- Looking on the promo page at your favorite sportsbooks
- Email promotions
- Push notification promotions
- Opt-In promotions
What Is A Promo Code?
A promo code is a code used by sportsbooks and their affiliates to activate a bonus or promotion. These are used to highlight a current promotion or to attract new business to their platform.
Normally, promo codes are easy to remember. If you are right here at BestOdds.com, chances are that the code to activate a bonus at a sportsbook partner will be BESTODDS.
Whether it be with online sports betting or any type of online shopping in general, promo codes are one of the most-used marketing strategies on the internet. Everyone uses them.
Do I Need A Promo Code To Claim A Promotion?
No. You don’t always need a promo code to claim a promotion at a sportsbook. Usually, in addition to promo codes, you will also find direct links right here at BestOdds.com.
If you use a code, you will enter it upon signing up with a sportsbook. If you use a direct link, you will be redirected to the sportsbook and the code will already be activated that way.
Types Of Betting Promotions
To create a variance, sportsbooks will deploy different types of promotions for their users. One month, a sportsbook may offer a No-Deposit Bonus while the next it may offer a Risk-Free Bet.
Sportsbooks generally change promotions up to keep them fresh for the user. Why? Some users may prefer one promo over another. So it would be wise for the platform to keep its promotions revolving.
For example. If DraftKings is offering a risk-free bet in January while BetMGM is offering a Deposit Bonus, a bettor who prefers the risk-free Bet will sign up with DraftKings first. Then, if BetMGM offers a risk-free Bet in Match, that same user will join then if they prefer risk-free bets more.
Deposit Match Promotion
When a deposit match promotion is offered, a user must make a deposit to activate the offer. You will find that a sportsbook will match the user’s deposit up to a fixed amount.
For example, if BetMGM is offering a 100% deposit match up to $1000, the user would get $500 in bonus funds if they make a $500 first deposit.
Risk-Free Bet Promotion
When a sportsbook offers a risk-free bet promotion, the user will get their first bet risk-free after they make their first deposit.
For example, if DRF Sportsbook is offering new users a risk-free bet of up to $500 and that customer deposits $500, they won’t automatically get a $500 bet back if they only make a $100 bet.
If a user makes a $100 bet and it loses, they will get $100 in site credits back even though they deposited $500. If they want to take advantage of the full $500 promo, they must place a $500 first wager.
First Bet Match Promotion
While a first bet match sounds a lot like a risk-free bet, it is entirely different.
With a first bet match, a user will get a free bet back regardless of the outcome of their first wager.
For example, with a risk-free bet, a user would only get their refund in site credits if their initial bet loses. However, with a first bet match, they will get a free bet in return no matter what.
So if a sportsbook is offering a $500 first bet match and a user makes a $400 first bet, then that same user will get a $400 free bet in return no matter if it wins or loses.
Bet & Get Promotion
When a sportsbook offers a bet-and-get promotion, a bettor will get something in return when they make a wager that qualifies for the promo. “If you do this, we will give you that.”
For example, a sportsbook may offer a $25 free bet in return if a user wagers $100 on a live Monday Night Football game.
Sportsbook Promotions By Sports
In addition to welcome offer promotions, you will find that sportsbooks notoriously feature promos by sport or event.
If a World Series game is happening and they know sports bettors will be betting whether or not they are baseball fans, then what better way to push them over the edge to place a wager than by offering a lucrative promotion?
The NFL is one of the largest betting markets in the industry. Thus, you will always find in-season and playoff specials to entice the bettor to keep wagering.
During the NFL season, you will always find promos tied to the smaller slatted games that will attract the grandest audience.
Here are a few types of NFL promotions you will see during the season:
- Same-Game Paraly insurance for Thursday Night Football, Sunday Night Football, and Monday Night Football.
- Sunday Specials and Parlay Boosts
- First Touchdown Scorer insurance
- Anytime touchdown scorer boosts
- Betmgm bet 10 win 200 famous promo
The NFL may be a betting powerhouse, but the NBA is not far behind. Like the NFL, you will find ample NBA promotions during the season and for the playoffs. Another great thing about NBA promos is that they revolve around player prop bets.
Here are a few types of NFL promotions you will see during the season:
- Same-Game Parlay insurance for the TNT games of the week on Tuesdays and Thursdays. You will normally find these weekly.
- NBA Player Prop Specials and Odds Boosts
- Single Game Bet and Gets. If you bet $100 on the point spread of the Bucks-Lakers game, you will a $25 free bet in return if your side of the wager wins.
- First Basket Boosts
- First Basket Parlay insurance
- Bet $50 on the moneyline of a game and get $1 in free bets for every three-pointer made in the contest
You may not find as many NHL-based promotions as you will find with the other major sports, but most sportsbooks will offer them.
So be sure to check the promotions page to keep up to date and don’t miss anything
Here are some NHL promos you will find at your favorite sportsbook:
- NHL Overtime insurance
- Get a free $10 bet when you bet on a live NHL market
- NHL profit boosts for straights and parlays
- NHL early payout offers
- Bet $50 on a primetime NHL game and get $5 for every goal scored
College Basketball Promotions
The most common college baseball promotions you will find will revolve around March Madness and other types of tournaments during the season.
However, even if there is not a big tourney going on, most sportsbooks will offer some type of a promo to remain competitive.
Here are some CBB promos you will find at your favorite sportsbook:
- Bet the Bracket – Risk-Free bet on any March madness tournament game
- CBB Odds Boosts
- CBB parlay insurance
- Bet at least $50 on a March Madness game and get $1 in free bets for every three-pointer made by your team
College Football Promotions
Similar to college basketball, you will always find promotions geared toward college football bettors. While the best promos will pop up around Bowl season, there are ample promos to take advantage of along the way as well.
Here are some CFB promos you will find at your favorite sportsbook:
- CFB odds boost
- CFB parlay boosts and parlay insurance
- National Championship promos
- CFB bet-and-gets
- Bet $50 on the moneyline or the point spread of a game and get $5 for every touchdown scored by your team
Sportsbook Promotions For Existing Players
When you think of a sportsbook promotion, you normally think that they are for new users only. However, that is far from the truth.
Sure, sportsbooks want to stay competitive and draw new customers, but they must also remain competitive to keep the customers they have too.
Just because a bettor may sign up with a new sportsbook to take advantage of the sign-up offer, doesn’t mean they have to stay there and bet there forever.
A user can easily lose all their funds and move on. They can also win, play through their bonus only to cash out and join elsewhere.
To keep that from happening, sportsbooks will offer promos for existing customers. However, the promos for existing customers are nowhere as lucrative as the promos for new users.
Still, it is free money and very much worth taking advantage of.
Here are examples of some of the most popular promos for existing customers you will find at your favorite sportsbooks:
- Get a $20 free bet to place on a college football Saturday game when you place a $100 bet on the Thursday Night Football game,
- Get a 25% odds boat for any MLB game on Friday night
- Get your stake back up to $25 for any first touchdown scorer bet if your player scores a touchdown at any point in the game, but not the first one
- Existing customer deposit bonuses
- Bet $100 in the online casino and get a free bet for the sportsbook