Betting sites constantly battle to offer players the best sportsbook promos and bonuses for signing up. While choosing the best sports betting app can be stressful, we have compiled a list of some of the best sportsbook promo codes to help make your decision easier. We have also gone in-depth to help you understand common terms you’ll find when using sportsbook promos and which sports you can legally bet on in the U.S. Find the best bonuses for each popular betting app as of December 2023 from betting sites like DraftKings, FanDuel, BetMGM, bet365, Caesars, BetRivers, and more using the links below.
Top Sportsbook Promos for December 2023
|Sportsbook||Bonus and Promo Code||Claim|
|💰 BET $5 AND GET $150 IN BONUS BETs||BET NOW! →|
|🤑 Bet $5 And Win $150 In Bonus Bets + AN NFL No Sweat Bet every day!||Bet Now! →|
|💎 Bet $5 on any Moneyline, Get $150 in Bonus Bets IF YOUR TEAM WINS||Bet Now! →|
|🎁 GET UP TO $1,500 PAID BACK IN BONUS BETS IF YOUR FIRST WAGER LOSES||BET NOW! →|
|💵 GET YOUR FIRST BET ON CAESARS UP TO $1,000 (PROMO CODE: AWE1000)||BET NOW! →|
|🏆 BET $10 AND GET $200 IN BONUS BETS (only available in NJ, WV, PA, MI)||BET NOW! →|
|🎉 Get a Second-Chance Bet up to $500 ($100 in N.Y.)||Bet Now! →|
|✌️ Get Paid Back up to $500 if your first bet loses||Bet Now! →|
Why Trust Stokastic?
Stokastic was built by a talented team of DFS players and sports bettors who win millions of dollars every year. We provide our users with the same data and tools we use to win every day. Our mathematical, results-based models use millions of data points to produce superior insights.
We want to help players of all experience levels make the best choices regarding how they’re playing and what sites they’re playing with. We are licensed in the same states by the same regulators as the betting sites we recommend, so you can trust that you are claiming offers from legal, licensed, and locally regulated online betting sites.
We may receive a commission from some betting sites if you sign up through one of our links. If you have any questions about betting sites or our process of recommending them, feel free to contact us.
Table of Contents
- Top Sportsbook Promos for December 2023
- Sportsbook Promo Codes by Betting App
- DraftKings Sportsbook
- FanDuel Sportsbook
- Caesars Sportsbook
- Sports Illustrated Sportsbook
- Best Sportsbook Bonuses by Sport
- How to Use Sportsbook Promo Codes and Bonus Types for New Players
- Ongoing Betting Site Bonuses for Regular or Advanced Bettors
- Common Terms to Know for Sportsbook Promo Codes
- Best Sportsbook Promo Codes by State
- Responsible Gaming
- Sportsbook Promo Code FAQs
Sportsbook Promo Codes by Betting App
With so many options to choose from, picking the correct sportsbook promo code can be a complicated task. Stokastic is a trusted partner of many of these betting apps. We are licensed by the same state regulators as the betting sites themselves in many cases, so you can trust that you are claiming legitimate offers from some of the best legal and locally regulated online sports betting sites in the country! We have verified all the bonuses we promote directly with the online gambling sites offering them. We have gone through the details of the offers to ensure we present them honestly with an unbiased approach so that you know exactly what you’re getting before signing up.
Bet $5 and Get $150 in Bonus Bets
Bet365 has the best welcome bonus in the industry for new players that can be claimed in three easy steps.
- Sign up for a new sports betting account.
- Deposit a minimum of $10 to your account.
- Place a qualifying bet of $5 to get $150 in Bonus Bets once your bet is settled with bet365.
Note: Bonus Bet winnings are added to your Bonus Bets balance. Bonus Bet wager is excluded from returns. Available to new players 21+. T&Cs, time limits, and exclusions apply. Gambling problem? Call or text 1-800-GAMBLER.
Bet365 is legal and available in: New Jersey, Colorado, Ohio, Iowa, Kentucky and Virginia.
Bet365 is one of the largest online gambling companies in the world, with a long history of providing a wide range of betting options to its customers.
Bet365’s betting options include sports betting, casino games, poker, and bingo. The site is known for its user-friendly interface and easy-to-use sports betting app. Bet365 offers competitive odds on various sports and events, including football, basketball, tennis, and horse racing. The site offers a range of payment options, including credit cards, debit cards, and e-wallets like PayPal and Skrill.
Overall, bet365 is a well-established and reputable online betting site that offers a wide range of betting options, competitive odds, and excellent customer service. Players also appreciate how generous the bet365 promos can be.
Bet365 will continue its growth in the U.S. and is coming soon to Arizona and Pennsylvania.
Get up to $1,500 Back in Bonus Bets if Your First Wager Loses!
If you make a first bet over $50 at BetMGM, you will receive five (5) bet credits back in equal denominations of 20% of the qualifying bet amount up to $1,500.
If your first bet loses and is less than $50, you will receive a single bet credit back, equaling the total amount of the qualifying bet. For example, if you place a $20 bet and lose, you will receive one $20 bet credit.
If your first bet wins, you get nothing from BetMGM except for the satisfaction of taking one from the house and winning a bet (pat yourself on the back).
Bet credits must be used within seven days of being credited to your account. Each bet credit can only be placed as one straight bet or parlay and cannot be split between various bet placements.
Bet $10 and Get $200 in Bonus Bets
BetMGM is offering new players who sign up $200 in bonus bets just for signing up! All you have to do is make an initial wager of $10 or more. Regardless of whether your first bet wins or loses, BetMGM will give you four individual $50 bets. This offer is only available in NJ, PA, WV and MI, but you can find bonuses in your area by clicking an offer above.
Terms and Responsible Gambling Resources noted by BetMGM
- 21+ to wager. Please Gamble Responsibly.
- Gambling problem? Call 1-800-GAMBLER (CO, DC, IL, IN, LA, MD, MS, NJ, OH, PA, TN, VA, WV, WY)
- Call 877-8-HOPENY or text HOPENY (467369) (NY)
- Call 1-800-327-5050 (MA)
- Call 1-800-NEXT-STEP (AZ)
- Call 1-800-522-4700 (KS, NV)
- Call 1-800-BETS-OFF (IA)
- Call 1-800-270-7117 for confidential help (MI).
- Visit BetMGM.com for full Terms & Conditions.
The MGM brand has long been synonymous with gambling, thanks to its resort and casino presence in Las Vegas. A strong collaboration between MGM International and global betting giant Entain Group creating BetMGM made their shift to online sports betting and casinos one of the most natural in the U.S.
BetMGM has carried a solid reputation amongst beginner and intermediate bettors. While their top competitors like FanDuel and DraftKings have to split a good deal of focus to their DFS products, BetMGM remains committed to its sportsbook and online casino offering. This has resulted in BetMGM being named Casino Operator of the Year in 2021 and 2022.
BetMGM remains one of the top sports betting apps in the nation for a reason. Their offering is solid all-around, and as long as you can keep from getting limited as a sharp player, you’ll find very few apps that will stand up to this one. The best BetMGM promos will usually be found around major events like the Super Bowl or March Madness, so if you aren’t sure about signing up now, you can always check back later.
Bet $5+ and Get $150 In Bonus Bets + Daily NFL No Sweat Bets!
DraftKings typically has revolving promos for new players. Their best welcome bonus is now Bet $5 and Get $150 + Daily No Sweat Bets. Here is how to claim this offer.
- Sign up for a new DraftKings Sportsbook account.
- Make a first deposit of at least $5.
- Bet $5+ on any sport, and you’ll get $150 in bonus bets, win or lose!
The bonus will be paid in eight (6) $25 bet credits. The $150 in bet credits will expire after seven (7) days of being issued if they’re not used.
Get an NFL No Sweat Bet Every Day!
In addition to your DraftKings welcome bonus, you can opt-in to their No Sweat Bet promo that gives you up to $150 in bet credits if your NFL wagers lose. Opt-in on the DraftKings promo page and you’ll get one No Sweat token issued per eligible gameday with a maximum value of $50 per token.
Must be 21+. T&Cs, time limits, and exclusions apply. Gambling problem? Call or text 1-800-GAMBLER
Since launching in 2011 as a daily fantasy sports platform, DraftKings has become a household name. DraftKings jumped at the chance to offer the first legal and locally-regulated online sports betting platform in New Jersey in 2018. They have aggressively grown to offer DraftKings Sportsbook in virtually every state where online sports betting is legal.
DraftKings offers one of the most user-friendly sports betting apps in the market, especially for beginner or intermediate bettors. Their user interface, odds boosts, ongoing promos, same-game parlays, and player props are consistently some of the best in the market.
The only downside you’ll run into with DraftKings is that if you’re consistently beating them, they will quickly limit you. This is one reason it’s always good to have multiple sportsbook accounts to ensure you stay off a sportsbook’s radar as a sharp player. But for the casual player just looking to make each event a little more exciting or to support your favorite team by having a little money on a game, you won’t find many better options than DraftKings Sportsbook.
Bet $5 on any Moneyline, Get $150 in Bonus Bets IF YOUR TEAM WINS
FanDuel is running a special promotion that should last until 12/11/2023. Sign up using our FanDuel promo code by clicking JOIN NOW above to get $150 in bonus bets after wagering just $5 on a winning moneyline bet!
Sportsbook bonus bets may be used to wager on any market available on the FanDuel Sportsbook except for Round Robin and Same Game Parlay+ wagers. Sportsbook bonus bets must be manually selected in the betslip window of your FanDuel Account to be used before deposited funds when wagering.
What started as a backyard brainstorm session between five people interested in sports has turned into a leading company in a multibillion-dollar industry. FanDuel has expanded from just offering daily fantasy sports back in 2009 to providing America’s #1 sportsbook app, online casino and poker, and a racebook for horse racing fans. FanDuel has solidified itself as an official sponsor of the NFL, MLB, NBA, WNBA, NHL, PGA TOUR, and more.
FanDuel is consistently rated as having the most user-friendly interface in the industry. Pairing that with their massive selection of risky same-game parlays, player props, and live betting features makes it easy to see why FanDuel remains one of the most popular betting sites in every market in which it operates.
If you’re a beginner or intermediate bettor, FanDuel is a must-have as part of your regular rotation of sports betting apps. The types of FanDuel promos you’ll find now that they have solidified themselves as an industry leader. But, their odds can be some of the best among the most popular sportsbooks in the country, and their ongoing promos and odds boosts are the perfect options for the casual bettor looking for a way to make each sporting event more entertaining.
Get Your First Bet Paid Back up to $1,000 if it loses!
Use Caesars Sportsbook promo code AWE1000 to ensure your first bet will never lose!
Caesars Sportsbook Terms to Know
This promotion at Caesars Sportsbook offers a bonus on your first settled cash wager, excluding certain types of bets. Use the bonus bet within 14 days, and earn Tier and Rewards credits for future benefits at Caesars Resort and Casino locations.
- The promotion applies to the first cash wager that settles at Caesars Sportsbook.
- Place one large wager after signing up and wait for it to settle before placing multiple bets.
- The qualifying wager must settle within 30 days of being placed.
- Futures bets are not recommended for this promotion.
- Super Boost Markets, Round Robins, Bonus Bets, and Profit Boosts are excluded from this promo.
- Use the Bonus Bet within 14 calendar days from the date of awarding; otherwise, it will expire.
If you’re a beginner or intermediate bettor, you’ll be hard-pressed to find a better fit for your sports betting needs than Caesars. They consistently offer one of the most generous new player bonuses in the market and continue that generosity with a solid selection of ongoing promos for existing players.
With roots in Las Vegas dating back to 1966, Caesars has always been one of the most well-known betting brands in the nation. While the preferred gambling platform has changed from the smoky casino floors of the 1960s to slick online betting apps, Caesars hasn’t missed a step. Caesars even bolstered its betting site operations by acquiring a leading global betting brand, William Hill, in 2021 and merged the technology and experience of two powerhouses into one industry behemoth.
Live betting has been a standout feature of the Caesars Sportsbook platform, and they were the first sportsbook in the market to offer simultaneous live streaming and live betting on the NFL. As long as you can stay off their radar as a sharp player to avoid getting limited, Caesars will be one of your favorite places to play.
Get a Second-Chance Bet up to $500 ($100 in NY)
BetRivers offers new customers a second-chance bet up to $500 ($100 in NY). This is a solid offer, as it comes with a one-time playthrough requirement.
Once verified, users can deposit money into their account and make their first bet confidently. If your first bet loses, you’ll get a bet credit in the equal amount of your first wager up to $500 ($100 in NY).
21+ Please play responsibly. Gambling problem? Call 1-800-GAMBLER. New York players can call 877-8-HOPENY or text HOPENY (467369).
BetRivers continues a strong push as one of the more popular secondary betting sites in the U.S., especially in regions that offer iGaming, such as online casinos, poker, slots, and more. Their retail presence in those states makes them an attractive sportsbook to consider if you want to follow along in person and fully take advantage of their rewards program. If you’re looking for a new sportsbook to play at, check out the welcome bonus you can claim from us below as an authorized partner of BetRivers.
Sports Illustrated Sportsbook
Bet $20 and Get $200 in Bonus Bets if your first bet wins!
SI Sportsbook offers a pretty decent quality bet and get promo, but the terms make it more unfavorable than the offers you see from industry leaders like DraftKings and FanDuel.
With the SI Sportsbook promo, you must Bet $20 or more on +120 odds or more. If your qualified bet wins, you’ll win $200 in addition to your bet earnings. Your bet credits must be used within seven (7) days, or else they will expire.
Sports Illustrated Sportsbook (SI Sportsbook) is a sports betting platform that offers a wide range of sports betting options for its users. It was launched in partnership with the sports media company Sports Illustrated and is managed by the international online gambling company 888 Holdings, which is a publicly-traded company that owns several popular gambling brands and websites, including 888sport, 888casino, and 888poker.
Overall, if you’re looking for a user-friendly and comprehensive sports betting platform with a wide variety of options, SI Sportsbook is definitely worth checking out.
Best Sportsbook Bonuses by Sport
Betting apps offer sport-specific promotions to attract and retain customers who are interested in betting on a particular sport. By offering promotions that are tailored to specific sports, sportsbooks can show their customers that they understand their interests and are willing to offer them incentives to continue betting on their preferred sport.
Sport-specific promotions can also help bookmakers differentiate themselves from their competitors. By offering unique sportsbook promo codes for a particular sport or player, a betting site can stand out from the crowd and appeal to customers who are specifically interested in that sport.
In addition, sport-specific promotions can be used to capitalize on major events or seasons in a particular sport. For example, a betting site might offer promotions specific to the Super Bowl or the World Series, which are major events that attract a lot of betting activity. This can help the site attract new customers who are interested in betting on these events and retain existing customers who are already fans of the sport.
NFL Betting Promos
The NFL is one of the most popular sports to bet on in the US, and sportsbooks offer a variety of promotions to entice customers to bet on games. Some common NFL promotions include welcome bonuses for new customers who sign up before the start of the NFL season, odds boosts for select games or prop bets, parlay insurance or bonuses for customers who place parlays on NFL games, and bonus bets or contests for big games like the Super Bowl.
Sports bettors can place a variety of bets on NFL games, including point spread bets, moneyline bets, and over/under bets. In addition, bettors can place prop bets on individual players or specific game events, such as the first team to score or the total number of touchdowns. Live betting is also available during games, allowing bettors to place bets on game events as they happen.
NBA Betting Promos
Similar to the NFL, sportsbooks offer welcome bonuses for new customers who sign up before the start of the NBA season. For specific games, sportsbooks may offer odds boosts for select prop bets, as well as parlay insurance or bonuses for customers who place parlays on NBA games. Some betting sites also offer sportsbook promo codes to unlock bonus bets or enter contests for the NBA Finals or other big games.
Sports bettors can place point spread bets, moneyline bets, and over/under bets on NBA games. Prop bets are also available for individual players or specific game events, such as the total number of three-pointers made. Live betting is also an option during games.
College Football Betting Promos
College football offers many of the same betting options as the NFL, including point spread bets, moneyline bets, and over/under bets. Prop bets are also available for individual players or specific game events, such as the total number of rushing yards. Live betting is available during games, as well.
Sportsbooks offer welcome bonuses for new customers who sign up before the start of the college football season, and some sportsbooks also offer limited-time promotions or contests for big games like the College Football Playoff.
The availability to bet on college sports in one of the most inconsistent markets across the country. Some states don’t allow college sports betting at all, some ban college player props, and some ban betting on local college teams only.
College Basketball Betting Promos
Sportsbooks offer similar promotions for college basketball, including welcome bonuses for new customers and odds boosts for select games or prop bets. For college basketball, sportsbooks may also offer parlay insurance or bonuses for customers who place parlays on games, as well as bracket challenges or contests for March Madness or other big games.
For college basketball, sports bettors can place point spread bets, moneyline bets, and over/under bets on games. Prop bets are also available for individual players or specific game events, such as the total number of three-pointers made. Live betting is also an option during games.
Like college football, betting on college basketball is widely contested from state to state, so don’t be surprised if you don’t see anything in your location. Some states, like Massachusetts, only offer March Madness betting markets or other NCAA Basketball Tournaments with more than four teams competing.
MLB Betting Promos
Baseball is a popular sport to bet on in the US, and sportsbooks offer a variety of promotions to attract customers. Some common MLB promotions include welcome bonuses for new customers who sign up before the start of the MLB season, odds boosts for select games or prop bets like No Run First Innings, parlay insurance or bonuses for customers who place parlays on MLB games, and promos during big games or the World Series.
For baseball, sports bettors can place moneyline bets on games, as well as run line bets, which are similar to point spread bets. Over/under bets are also available for the total number of runs scored in a game. Prop bets are available for individual players or specific game events, such as the total number of strikeouts in a game.
NHL Betting Promos
Sportsbooks offer welcome bonuses for new customers who sign up before the start of the NHL season. For specific games, sportsbooks may offer odds boosts for select prop bets, as well as parlay insurance or bonuses for customers who place parlays on NHL games. Some sportsbooks also offer bonus bets or contests for the Stanley Cup Finals or other big games.
Similar to other sports, sports bettors can place moneyline bets on NHL games, as well as puck line bets, which are similar to point spread bets. Over/under bets are also available for the total number of goals scored in a game. Prop bets are available for individual players or specific game events, such as the first team to score.
PGA Betting Promos
Golf is an increasingly popular sport to bet on in the US, and sportsbooks offer a variety of promotions to attract customers.
For specific tournaments, sportsbooks may offer odds boosts for select prop bets, as well as parlay insurance or bonuses for customers who place parlays on golf tournaments. Some sportsbooks also offer VIP experiences or contests for big tournaments like the Masters or U.S. Open.
UFC Betting Promos
Sportsbooks offer welcome bonuses for new customers who sign up before a big UFC event. For specific fights, sportsbooks may offer odds boosts for select prop bets, as well as parlay insurance or bonuses for customers who place parlays on UFC events.
For mixed martial arts (MMA), sports bettors can place moneyline bets on individual fights, as well as prop bets on specific events within a fight, such as which round the fight will end. Bettors can also place bets on the method of victory, such as by knockout or submission.
How to Use Sportsbook Promo Codes and Bonus Types for New Players
There are several types of common welcome bonuses you will find from betting sites as a new player. Finding the best option for you depends on a few factors, such as the amount of money you are willing to deposit at a new sportsbook upfront or how much faith you have in the first bet you’re going to place at a new sportsbook. We have covered all the most common sportsbook promo codes and bonus types for new players below.
First Bet Paid Back
Getting your first bet paid back if it loses is one of the most common sportsbook offers you’ll find in the U.S. You will see this offer presented in many different ways. FanDuel often has a “No Sweat First Bet,” and Caesars claims your “First Bet is On Us,” but the general terms are typically the same across the industry. This bonus was also commonly referred to as a “risk-free bet,” but that term has been discontinued across the industry as it was misleading. You most certainly have to incur some risk by depositing your own money to qualify for these offers, and there is always an inherent risk in gambling.
Getting your first bet paid back if it loses is a great option for players looking to deposit more money than average upfront when opening a new account, for example, $1,000. It is also a good option if you have a good feeling about an underdog and want to place a wager on them, knowing that if it loses, you will get a second chance at wagering that money in the form of bonus funds or site credit.
A sportsbook first deposit match is becoming less common, but they can be some of the best offers out there when the match is 100% or more. For example, a betting site may offer a 125% deposit match up to $250, meaning you would only have to deposit $200 to get $250 in bonus funds. The most common sportsbook deposit matches are usually capped well below $500, so if you’re looking to deposit more, you should look for the “First Bet Paid Back” promo types mentioned above.
Deposit matches are great for all players due to their flexibility since they are typically “up to” a fixed maximum amount but still valid if you want to deposit less than that maximum amount. If the maximum amount you’re able to deposit is only $50, you can still get an extra $50 to play with if it’s a 100% match, doubling your initial bankroll. Just be sure to read the terms carefully on these promos, as you will often see playthrough requirements attached to deposit matches. You can learn more about those in our “Common Terms to Know” section below.
Bet and Get
The bet and gets or “no-brainers” are usually the best sportsbook promo codes you will find for all types of bettors. The major sportsbooks have started to pull back from using these as often due to the low deposit and wager amount required from players and the high payout of bonus funds from sportsbooks.
These will usually be found in the form of “Bet $5 and Get $150 in Bonus Bets” or something similar. These are typically straightforward, with few strings attached. Minimum deposit amounts are usually around $10. The best bet and gets will give you your bonus funds win or lose, while sometimes it is required for your first wager to win to receive the bonus funds. As always, check the terms of all promos or chat with a customer service representative at the betting site if you have any questions.
No Deposit Bonus
A no-deposit bonus is often searched for by sports bettors but is rarely found. These can be offered on occasions when a new state is going to launch sports betting as part of an early sign-up or pre-launch promotion. You can also find these at sweepstake sites or social sportsbooks like Fliff that offer free-to-play games with a chance at winning real money. At social sportsbooks, the bonus is usually free plays with their house currency (coins or fake cash) which doesn’t usually equate to substantial real-money winnings. But they can still be a lot of fun.
Ongoing Betting Site Bonuses for Regular or Advanced Bettors
Getting new players in the door is only half of the battle for sportsbooks. Keeping players engaged with ongoing promos and bonuses is a key part of retaining customers that the best online betting sites in the U.S. are constantly working on. Below we have listed some of the most common options you will find.
Odds Boost Bonuses
Odds boosts are a popular type of sports betting promotion that many sportsbooks offer to customers. An odds boost is a promotion where the sportsbook offers better odds than usual on a particular bet. For example, if the normal odds of a football game are -110, the sportsbook might offer an odds boost to -105 or even +110.
Odds boosts can be applied to a variety of different bet types, including moneyline bets, point spread bets, and totals bets. Some sportsbooks offer daily odds boosts, while others offer them on select games or events.
It’s important to note that odds boosts are not guaranteed wins, and you should still make sure they are making informed bets before taking advantage of an odds boost promotion.
Same Game Parlay Bonuses and Insurance
Same Game Parlay (SGP) is a type of bet where a customer can combine multiple bets from the same game into one parlay. Sportsbooks offer SGP bonuses and insurance to entice customers to place more SGP bets due to the high risk and profit they receive from these bets.
A Same Game Parlay bonus is a promotion where the sportsbook offers a bonus payout if a customer hits a certain number of legs in their SGP bet. For example, a sportsbook might offer a 10% bonus on all SGP bets with at least 3 legs.
Same Game Parlay insurance is a promotion where the sportsbook refunds your bet if you miss by one leg. For example, if a customer places a 3-leg SGP bet and only one leg loses, the sportsbook will refund the customer’s bet.
Refer-a-friend bonuses are a promotion where the sportsbook rewards customers for referring their friends to the sportsbook. The customer usually receives a bonus when their friend signs up and makes a deposit.
The bonus amount and terms can vary by sportsbook, but they typically require the referred friend to sign up and make a deposit before the bonus is credited to the customer’s account. Some sportsbooks also offer bonuses to the referred friend as an incentive to sign up.
Free-to-Play Contests and Tournaments
Free-to-play contests and tournaments are a type of sports betting promotion where customers can participate in contests and tournaments for free, with the chance to win real money or prizes.
Sportsbooks offer a variety of free-to-play contests and tournaments, including pick’em contests, survivor pools, and bracket challenges. These promotions are a great way for customers to engage with the sportsbook without risking any of their own money.
Prizes for free-to-play contests and tournaments can vary widely, from cash prizes to merchandise or even VIP experiences. It’s important to note that some free-to-play contests and tournaments may have eligibility requirements or geographic restrictions, so customers should read the terms and conditions carefully before participating.
Common Terms to Know for Sportsbook Promo Codes
Nothing in this world is free, and that quote stands true with sports betting promos. While the terms and conditions laced into the locally regulated U.S. betting sites that we support are usually minimal, they are always crucial to read and know. Not abiding by the terms set by bookmakers can put you at risk of losing your bonus funds and any winnings that you may have accrued by placing wagers with those bonus funds. Here are some of the most common terms you’ll find from legal online sportsbooks.
Wagering requirements called “play through” or “rollover” are the most common term you’ll find when using sportsbook promo codes. This means that you have to wager either your bonus funds, your initial deposit amount, or sometimes both a set amount of times (i.e. 5x) before you’re able to withdraw any real money from your account. You also usually have a time limit to do this (for example, within seven days of receiving your bonus), or else your bonus funds and any winnings accrued from placing bets with those bonus funds can be voided.
Here is an example of how these requirements may work:
- Example Offer: 100% Deposit Match up to $500
- Wagering Requirement: 5x rollover on your deposit and bonus amount within seven (7) days.
- The math: Deposit Amount = $500 + Bonus Match = $500 for a total of $1,000 in deposit and bonus amount.
- You must play through that deposit and bonus amount in this scenario 5x ($1,000 x 5 = $5,000) within seven (7) days before you’re able to withdraw any money from your account.
Not all wagering requirements work the same, so it’s always important to read if your sportsbook bonus has any of these requirements. If you’re unsure, always chat with a customer service representative before making an initial deposit.
Odds requirements are another common term found when using sportsbook promo codes. To be honest, these are often put in place by bookies forcing you to wager your bonus funds on uncertain favorites or underdogs, limiting their chances of actually having to pay you out substantial winnings on a minimal deposit.
You will usually see odds requirements explained in the terms by saying something like, “Bet $20 on +120 odds or more. If your qualified bet wins, you’ll win $200.” This means that you can’t bet a favorite at all. Wagers with -110 odds will not qualify for a promotion like this, but +300 will. Another common form of displaying this is “maximum odds of -200.” Similarly, a wager with -300 odds would not qualify here, but -110 or any underdog (+110, +300, etc.) would qualify.
You will most commonly be affected by minimum deposit limits as a beginner, but even advanced players should be aware of maximum deposit limits as well. For the average player, you may see a sportsbook promo that says, “Bet $5 and Get $200.” While you may only need to bet $5 to qualify for the bonus, most betting sites typically have a minimum deposit of $10 to open an account.
It’s also important to note if the sportsbook welcome bonus is tied to your first deposit only or your first wager. In some cases, the minimum deposit limit may only be $10, but for a deposit match, you may only receive $10 in bonus funds if the promotion is tied to your first deposit.
Bonus Funds Expiration
One of the most aggravating ways to lose your bonus winnings is to have your promo expire before you met all the requirements. Most sportsbook promos expire seven (7) days after you receive them, while others may expire 14 or even 30 days after being credited to your account.
Another important factor to look into with the expiration is if your sportsbook promo mentions that the bonus will expire if not settled within X days or if a wager needs to be placed within X days. Some betting sites, like DraftKings Sportsbook, mention that your wager needs to settle within seven days, meaning a bet on a current event that will be graded and settled ASAP. Others, like BetMGM, mention your wager needs to be placed within seven days, meaning you can bet on a future that will settle months away with bonus funds as long as you place that bet within seven days of the bonus funds being credited to your account.
Early Cash Out Penalty
You must be careful at some online betting sites not to try and cash out any winnings before you have finished all wagering requirements. This will commonly void your bonus funds and any winnings you may have accrued by placing wagers with the site credit. Many sportsbooks also have an “early cash out” feature, which will void a previously qualifying bet from contributing towards your wagering requirements, forcing you to start the process all over.
Qualifying Bet Restrictions
Qualifying bets are typically referred to as the proper type of wager you are allowed to place that will contribute towards satisfying your wagering requirements. This usually means a straight cash bet on a standard market (moneyline, spread, over/under). Qualifying bets usually exclude any other form of an enhanced wager that may have used a boost, insurance, or additional bonus token of any sort.
Best Sportsbook Promo Codes by State
Sportsbook promo codes may vary depending on the state in which the companies operate. This is because sports betting is regulated on a state-by-state basis in the United States, and each state has its own tax rates, laws, and regulations governing sports betting.
Some states may have more favorable regulations for sports betting than others, which may allow sportsbooks to offer more generous promotions in those states. In addition, sportsbooks may have partnerships with local sports teams or other organizations in certain states, which could lead to the creation of unique sportsbook promo codes for customers in those states.
It’s also worth noting that some betting sites may not be available in all states due to licensing restrictions or other factors. So, even if a sportsbook offers a particular promotion or promo code in one state, it may not be available to customers in other states.
Find the best sportsbook promo codes by state at Stokastic:
All of us at Stokastic are incredibly grateful to have been able to turn our passion for sports into a service that helps other players make the most out of their sports betting and daily fantasy sports experience. Part of our responsibility as a service provider is helping to ensure that our industry-leading tools that help you succeed in gaming are adequately paired with responsible gaming resources you may need when gambling is no longer fun and is potentially causing a disruption in your life.
We share core attributes of responsible gaming with industry leaders.
- We recommend that players only participate in legal markets that provide locally-regulated consumer protections and abide by proper minimum age requirements. The legal age for participating in Daily Fantasy Sports in most regions is 18+, and the legal age for gambling in most areas is 21+.
- We strive to provide responsible gaming resources throughout our respective content channels and recommend that if you or anyone you know suffers from a gambling problem, call or text 1-800-GAMBLER or chat live 24/7 at the National Council on Problem Gambling.
- Online gaming should be a fun activity and enjoyed as entertainment. If you’re not having fun, it may be time to take a break.
- We recognize that some players may need additional support related to their gaming activities.