Home / Best Sportsbook Promotions & Bonuses December 2023

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Sportsbook Promotion And Bonuses

Earlier this year Forbes released an article about the popularity of online sports betting crediting much of its success to online sportsbook. Over 100 million legal betting transaction were logged for Super Bowl LVII, a 25% increase from last year. Sports betting has become massively popular in recent years due to its legalization. With the stock market looking grim presently, many have switched to this form of speculative market to earn profit.

It has even become more popular with online sportsbook. With easy accessibility, you can bet with a simple click from your phone or personal computer. Also, with the Supreme court overturning the federal law banning sports gambling, many states have legalized this form of betting.

Today, there are numerous sportsbook websites or apps allowing you to wager in the comfort of your home. Most of these sites offer bonuses and promotions to attract new and existing customers. If you’re new, this post will help you find the best sportsbook promotions and bonuses.

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Understanding Sportsbook Promotions And Bonuses

Bonuses and promotions are massively marketed in online gambling sites. It’s a marketing tactic to attract new users to sign up with their betting website or app.

Every betting service will have different offers to attract users. Promotion is crucial as it’s the best way to gain new users. For example, a betting app offering $100 as a first deposit for registering with their service will tempt you to sign up.

Bonuses are also often used as a marketing tactic and a part of promo to lure users mainly in casinos and online sportsbooks. It has different types that are closely similar to promotion. Some of the common ones are:

First-Bet Match Promotion

In this type of promo, the first bet of the new user is credited by the sportsbook. For example, you place a bet of $150 on a football game. As part of the welcome promo, you will be credited with the wager amount for the current bet or use it for future bets. Usually, a link is provided where you can claim the first bet match.

Deposit Match Bonus

Another popular sportsbook promo is a deposit match bonus. Here, as a part of new sign up, you get first deposit with amount ranging from $100 to $1000. Once you register to the website, the money is immediately credited your account. With this in-site credit, you can bet to earn more. Know that some websites only allow you to withdraw after reaching a certain money limit.

Bet And Get Promotion

This type of promotion invites users to bet on a specific market and receive credits. For instance, a sportsbook site offers a $200 bonus for a $20 wager on any market. So, the idea is you make a bet offered by the sportsbook and receive a bonus at the same time.

No Deposit Bonus

It’s a type of bonus that is given mainly to new users. You don’t have to make any deposit or make a bet. Once the registration process is complete, the amount is credited to your profile. The amount can be anywhere from $10 to $50. Existing users can also earn this type of bonus by doing activities like daily sign-ins and verifying their accounts.

Referral Bonus

Betting sites are interested in gaining new users and maintaining long-term loyalty with the existing ones. So, to make both parties happy, they introduce another marketing tactic: a referral bonus. Here registered users earn bonus through referral to family and friends.

Second Chance Bet

Before it was known as risk-free bet, which allows new sign-ups to reimburse on their first bet loss, it’s covered by the sportsbook, amounting from $100 to $1000. However, the user will not receive bet credits if they win their first wager.

Reload Bonus

It’s like a deposit match bonus but is mainly for existing users. While the deposit bonus is only applicable for new registrations, the reload bonus is for users who earn extra credit recharging their betting account. Also, the bonus amount is more for deposit bonuses.

Most Popular Sportsbooks Promotions

If you’re a beginner, picking a betting app from a sea of sportsbook sites would be pretty confusing. So, to make your task easier, we have curated some of the best betting sites with exciting promotions and bonuses.

BetMGM Sportsbook

  • Payout period: 2 to 8 days
  • Applicable both in Android and iOS
  • Legal in Arizona, Puerto Rico, Michigan, Colorado, Tennessee, Pennsylvania, Mississippi, Virginia, New York, DC, Ohio, Massachusetts, Nevada, West Virginia, Kentucky, New Jersey, Maryland, Illinois, Louisiana, Wyoming, Iowa, Kansas, and Indiana.

Are looking for a bigger bonus? BetMGM is currently offering $1500 bonus bets to new players. If you are yet to sign up, this sportsbook site will be great. It also has access to a massive sports range and ample betting options.

This betting site also offer insurance on your first bet. It offers up to $1000 if you lose on your first wager.

Note that BetMGM doesn’t provide a welcome bonus to customers in Puerto Rico, Nevada, DC, Mississippi, and New York.

Some of the features of this sportsbook are:

  • You can access the poker and casino sections.
  • It offers bonus bets every week in most states.
  • It allows you to live stream both on the app and site.
  • The app also has good deposit options.
  • It offers the Same Game parlays.

Caesars Sportsbook

Get Your First Bet Back Up to $1,000 Bonus Bet!

  • Payout period: 1 to 5 days
  • Applicable both in Android and iOS
  • Legal in Arizona, Maine, Ohio, West Virginia, New Jersey, Mississippi, Pennsylvania, Iowa, Nevada, Colorado, Michigan, DC, Indiana, Virginia, Kansas, Louisiana, Illinois, Massachusetts, Kentucky, New York, Tennessee, Maryland and Wyoming.

When it comes to offering a handsome welcome bonus, Caesars Sportsbook is where you should look. It offers $1000 bonus bets for new users, and if your first wager is unsuccessful, it refunds the total value of your bet.

It’s a trustworthy sportsbook quite well-known in the online betting industry. Besides, it was one of the first few to open online sportsbooks when sports betting became legal.

You can check out promotions during special events. For instance, you can earn $25 for each hit recorded by your MLB team.

Take a look at some of the features of Caesars Sportsbook:

  • It provides a variety of betting options.
  • The betting app has been licensed in most states.
  • It frequently offers odd boosts, promos, and deals.
  • You can also live stream NFL from the app.

FandDuel Sportsbook

Welcome Offer Bet $5, Get $150!

  • Payout period: 1 to 7 days
  • Applicable both in Android and iOS
  • Legal in: Arizona, Wyoming, Connecticut, Louisiana, New Jersey, Kentucky, New York, Illinois, Indiana, Massachusetts, West Virginia, Ohio, Kansas, Virginia, Pennsylvania, Michigan, Iowa, Tennessee, Maryland, and Colorado.

FanDuel is one of the most popular sportsbooks with some of the best promo offers and bonuses. In fact, it’s rated as the sportsbook in the United States. Also, this is your chance to earn some dollars with the current NBA in-season tournament. For new users, it’s currently offering a $5 bet and a $150 win in bonus bets on any market. Note that you will get the bonus bet only if your team wins. The offer is till Dec 28, so hurry up and give it a shot.

The app is user friendly and can navigate without any hassle. Now, here is how it works: First, you need to create an account and then make an initial deposit of $10. You must bet a minimum of $5 on any team and claim the bonus if it wins.

Some of the highlighted features of FanDuel are:

  • It offers different types of betting and market.
  • The app has competitive odds for all kinds of sports.
  • It refreshes odds boosts every day.
  • It provides helpful tips and hints for betting.

DraftKings Sportsbook

Welcome Offer Bet $5, Get $250!

  • Payout period: 1 to 3 days
  • Applicable both in Android and iOS
  • Legal in Arizona, Iowa, Maine, New Hampshire, Wyoming, Kansas, Michigan, Colorado, Maryland, New Jersey, Connecticut, New York, Virginia, Michigan, West Virginia, Indiana, Oregon, Illinois, Tennessee, Kentucky, Ohio, Louisiana, Massachusetts and Pennsylvania.

Another sportsbook site with exciting promo and bonuses is DraftKings. Before it used to be a massive player in fantasy sports industry, it ventured into online sports betting. It has excellent relationships with major players like ESPN and the NFL, providing frequent promos, bonuses, and strong odds.

Its latest bonuses allow new users to make $5 bets and $150 bonus bets. Also, a promo code isn’t required to claim this bonus. Just create an account and sign up with a minimum bet deposit of $5.

Here are some of the features of DraftKings:

  • Its interface is user-friendly.
  • The app has excellent live betting section.
  • It offers Same-Game parlay.

Sportsbook Hold Percentage (Margin, Juice, Vigorish, Vig)

Here are common sportsbooks hold percentage, also known as Margin, Juice, Vigorish, and Vig. You can see BetOnline is extremely low for NHL – that is because they are the market maker for NHL puck lines and totals. They are generally first to release lines to market and the rest of the market will generally follow them if their model agrees.

Remember to keep in mind, BetAnySports has a reduced juice program where the margin you pay is reduced by 50% on spreads, totals and money lines. Limits are reduced but if you are keen on winning long term, getting money down on the reduced juice lines is crucial!

Heritage Sports3.82%3.97%4.49%3.89%4.11%3.08%3.41%

Sportsbook Bonuses And Associated Conditions

Sportsbook promotion and bonus maybe closely similar but you will find some differences. When it comes to promo, the conditions to claim or withdraw money may be less.

However, for bonuses, based on the betting sites, there will be specific conditions to claim your bonus.

Bonuses let you earn extra dollars but come with terms and conditions. Most betting sites would ask you to bet a specific amount. Only then can you claim the bonus. This kind of condition is also called a play-through or rollover.

Here is an example to understand this concept better: Suppose you deposit $100 to YXS sportsbook, offering a 50% bonus with 3X rollover. It means you will have to bet $150 (100X50/100=50/ 100+50=150) but cannot withdraw the bonus unless you have bet $450 (150X3=450).

 It is one of the types of bonuses that come with a specific condition. You should also note that terms may vary as per different sportsbooks. Hence, we recommend going through the conditions and analyzing them before you proceed.

Some of the common conditions associated with bonuses in most sportsbook is:

  • Some betting sites don’t allow the withdrawal of bonuses within thirty days.
  • It allows only one active bonus per time. The current bonus must be completed to claim another one.
  • It’s only eligible for use in horse racing, sports, and casinos.

Wrapping Up

Online sports betting is like a speculative market with high volatility, just like stock market. If you’re new, start with low bets and gradually increase it. You can also take advantage of the sportsbook promos and bonuses to kickstart your betting journey. All in all, be wise and play responsibly.

Welcome Offer Bet $5, Get $150!

Last Updated on December 24, 2023

About the Author


Eva Rodriguez, a rising star in the US sports writing scene, brings the energy of Dallas to her content creation. With a passion for gaming and a talent for storytelling, Eva introduces readers to the dynamic world of American sports.

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