Best Sportsbook Promotions and Bonuses 2024 (UPDATED)

Written by: Shauli Zacks |✅Fact Checked and Updated March 2024 by: Michael Savio

Find the best sportsbook promotions from the leading US sportsbooks right here. We’ll show different types of sports betting bonuses, the latest bonus codes, and recommend the best ones based on our expertise.

As sports betting becomes more popular in the US, the top sportsbooks are all competing for your bets. That means that you'll have a great selection of sportsbook promotions to choose from. At USA Legal Betting, we've already done the hard work for you and compared the available sports betting bonuses.

When it comes to sports betting, bonuses play a crucial role in choosing the right sportsbook. Sportsbook promos add to the regular betting experience and give gamblers, both new and experienced, something extra to look for, such as sign-up perks and ongoing rewards. In our guide, we break down the world of sportsbook bonuses, highlighting the top perks available.

From attractive sportsbook sign-up bonuses to continuous rewards for loyal players, we've got you covered. Join us on this journey, where we lay out the bonuses that truly make a sportsbook stand out. Because, in the game of betting, having the right bonuses can be the key to a winning strategy.

There are different kinds of sports betting that will accompany you throughout your sports betting journey. It starts with a sportsbook sign-up bonus, which can be a matching bonus or a first bet refund bonus. These allow you to test the waters and see how the sportsbook works and try out a few bets.

As you continue to bet, you'll find more gambling bonuses that are geared towards specific sports, events, or the time of year.

Here are some of the most popular types of sportsbook bonuses and where you can find the best ones.

Welcome Bonuses for New Bettors

This is the first chance the sportsbook has to woo new players to register an account. There are different types of sign-up bonuses.

• No Deposit Sign-Up Bonus: Some sportsbooks will reward players for simply creating an account. The rewards are typically very small, just enough to get you to give the sportsbook a chance. No deposit bonuses are pretty rare these days, but if you look hard enough, you can find one popping up from time to time.
• First Deposit Match: This is the most common welcome bonus; you make a deposit up to a certain amount, and the sportsbook will match your deposit with bonus bets. For example, if you make a $100 deposit, the sportsbook will award you with $100 in bonus bets, giving you $200 with which to bet. Sports Illustrated Sportsbook has one of the best welcome bonuses with a 100% match up to $100.
• Second Chance Bets: With a second chance bet, you don't have to worry about losing right out of the gate. This offer is typically for new players, although from time to time, it can appear as a recurring promotion. Second chance bets act as a safety net on some bets. For example, if your first bet is a $500 bet on a single game parlay and you lose, the sportsbook will refund your loss in bonus bets. BetMGM is the best sportsbook for second chance bets, with a $1,500 maximum bonus offer.

Ongoing Promotions for Current Players

The bonuses don't stop once you've joined the sportsbook. Returning players can often have bonuses that are geared toward keeping them entertained and happy.

• Seasonal Bonus Bets: You can find bonus offers that make exciting times of the year for sports fans even more thrilling. College basketball fans can find exciting bonuses for March Madness betting, and football fans will have Touchdown promotions or other similar types of bets throughout the season. Similarly, you'll want to find Super Bowl betting sites in January to place creative prop bets on the big game.
• Reload Bonus: Bettors don't just get rewarded when they make their first deposit. Reload bonuses are another way to pad your bankroll with bonus bets. You can also get bonus bets after a regular deposit. Reload bonuses aren't usually 100% matches, like welcome bonuses. Additionally, you'll have to deposit during a specific timeframe, such as Monday between 9:00 and 12:00, to qualify.
• Odds Boost: The best sports betting sites will boost odds on select markets to improve the odds. For example, if the regular odds are +200, you might be able to qualify for +250 odds. Bet365 is one of the best options when it comes to odd boosts on all major US sports.

Special Bonuses for Active Players

Ongoing bonuses for loyal players extend beyond financial incentives. Whether through reload bonuses, loyalty programs, or cashback offers, the goal is to create a relationship where bettors are rewarded for their loyalty, and sportsbooks benefit from a dedicated and satisfied user base.

• Loyalty Programs: Loyalty programs are a testament to a sportsbook's commitment to its regular players. Typically structured as point-based systems or tiered programs, they offer escalating perks as players ascend through the ranks. BetMGM Sportsbook has the best loyalty program. Players can earn points that can be redeemed for hotel stays, exclusive discounts in Las Vegas, and special bonuses on select betting markets. 
• Cashback Offers: In the face of losses, cashback offers act as a safety net, providing players with a percentage of their losses back. This type of ongoing bonus is particularly appealing to those who appreciate a risk-mitigation strategy.
• Referral Bonus: The goal is simple: get your friends to join your sportsbook, and you'll be rewarded with bonus bets. FanDuel Sportsbook has a "Give $75 Get $75" refer-a-friend bonus offer. Just make sure that your friend makes a deposit and places a bet of at least $10 to qualify.

Now that you know more about the different types of sportsbook promotions, we’ll take a closer look at the sportsbook and their specific bonus offers. 

BetMGM Sportsbook

The BetMGM promotion is available for any player placing a bet on their Android or iOS device. After registering your account, place your bet, and if you lose, BetMGM will award you with matching bonus bets, up to $1,500.

So if you're betting on the NBA Finals and put down $1,000 on the favorite and they lose, you'll receive $1,000 in bonus bets. For all bets over $50, BetMGM will pay out with 5 bonus bets in 20% denominations. In our example above, you will receive five $200 bonuses. Bonus bets can be used on straight bets and multi-game or single game parlays, but they can't be divided. You have up to 7 days to use your bonus bets before they expire.

This promotion is available in the following BetMGM states: Arizona, Colorado, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, New Jersey, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia, and Wyoming.

• Welcome Bonus: $1,500 Back in Bonus Bets
• Promo code: None
• Best Ongoing Promo: Refer a Friend and Get $100 in Bonus Bets
• Minimum Deposit:$10
• Top deposit methods accepted:Credit Cards, Venmo, Apple Pay, PayPal, BetMGM Gift Card
• Payout speed:  Up to 5 days

Bet365 Sportsbook

There are two choices for new players when selecting a Bet365 welcome bonus. You can either choose the First Bet Safety Net or Bet $5 and Get $150.

First Bet Safety Net:

This option has a $1,000 limit, and if your first bet loses, you'll receive the money back in bonus bets. To qualify for this promotion, you must make a straight, parlay, Same Game Parlay, or Same Game Parlay + bet.

Bet $5 and Get $150:

The second option is to place a $5 bet, and you'll be awarded $150 in bonus bets.

There are also several Bet365 promotions that have early payout clauses. For example, if you're looking for an NBA betting site with great odds, the NBA Early Payout will be right up your alley. If the team you bet on takes a 20-point lead, you'll automatically win a straight bet. If the game was part of a parlay, that leg will be marked as a winner.
These promotions are available in the following Bet365 states: Colorado, Iowa, Kentucky, Louisiana, New Jersey, Ohio, and Virginia

• Welcome Bonus: First Bet Safety Net $1,000 in Bonus Bets
• Promo code: None
• Best Ongoing Promo: Bet Boost Available on Most Sports 
• Minimum Deposit:$10
• Top deposit methods accepted: Credit cards, PayPal, Online banking
• Payout speed:: Up to 5 days

BetRivers Sportsbook

The BetRivers welcome bonus acts as a safety net for your first bet up to $500. To qualify for this bonus offer, use the SPORTS bonus code when making your first deposit. Then, place a bet on any market, with the exception of profit boost and odds boost bets.

If you make a losing bet, the sportsbook will match your loss with bonus bets that will appear in your account within 24 hours. You'll then have 30 days to use your bonus bet before it expires. Unlike regular winning bets, the payout for this bonus bet only includes the winnings, but not your bonus stake.

The legal sports betting states when you can use this BetRivers promotion are: Illinois, Indiana, Louisiana, Maryland, Michigan, Pennsylvania, or Virginia.

• Welcome Bonus: 2nd Chance Bet up to $500!
• Promo code: SPORTS
• Best Ongoing Promo: Loyalty Points and Bonus Store
• Minimum Deposit:$10
• Top deposit methods accepted:Credit cards, PayPal, Venmo, Online banking, BetRivers Play+, 
• Payout speed: Up to 5 days

Betway Sportsbook

Protect your first bet at the Betway Sportsbook with the $250 Back in Bonus Bets offer. Whether you're betting on a major event, like the Stanley Cup Finals, PGA Tournament, or just looking for quality basketball betting sites, ensuring your first bet with a bonus is a smart play.

You'll have 7 days from when you register your account to use this bonus offer before it expires. If you lose your bet, Betway will match your bet and add the bonus bets directly to your account. Make sure to activate the Bonus Bet on the bet slip before submitting it.

This offer is not available in every state where Betway operates, it’s only available if you’re in Arizona, Louisiana, Pennsylvania, or Virginia

• Welcome Bonus:$250 Back in Bonus Bets
• Promo code: None
• Best Ongoing Promo: Parlay Club - Bet $25 or more on a 3+ leg parlay and get $10 in bonus bets
• Minimum Deposit:$10
• Top deposit methods accepted: Credit card, PayPal, Venmo, Betway Play+
• Payout speed:2 - 5 days

FanDuel Sportsbook

FanDuel is one of the premier DFS betting sites in the US. When you register your account, you'll be eligible for the FanDuel Bet $5 and Get $200 in bonus bets offer. To qualify for this offer, you must make a $10 minimum deposit and then place a bet of at least $5 and, if it wins, you'll receiver $200 in Bonus Bets within 72 hours. This isn't a matching offer, so you don't have to make a larger bet just to receive the maximum bonus bets.

FanDuel is more than just fantasy sports. In addition to the major sports leagues in the US, it's also a popular UFC betting site and has plenty of horse racing betting markets. You can find new FanDuel promotions popping up during major sporting events that can enhance your World Series betting or the College Football Championship games.

These promotions are available in the following FanDuel states: Arizona, Colorado Connecticut, Illinois, Indiana, Iowa, Kansas, Kentucky ,Louisiana, Maryland, Massachusetts , Michigan, New Jersey, New York, Ohio, Pennsylvania, Tennessee, Virginia , Vermont, West Virginia, or Wyoming. 

• Welcome Bonus: Bet $5 and get $200 in Bonus Bets if it wins
• Promo code: None
• Best Ongoing Promo: Refer a Friend -  Give $75 Get $75
• Minimum Deposit:$10
• Top deposit methods accepted: FanDuel gift card
• Payout speed: Up to 5 days

SI Sportsbook

The SI Sportsbook is one of the newer US sportsbooks. All new players can claim a 100% matching bonus, up to $100. To qualify for this promotion, you must make at least a $10 bet, and win or lose, you'll receive the matching bonus bets. You must redeem your bonus bets within 14 days, and you have 90 days to use them before they expire. The bonus bets have a 1x wagering requirement before they can be withdrawn.  

SI Sportsbook proved itself to be a solid football betting site with solid promotions throughout the NFL season. We anticipate they'll focus on improving their rankings as an NBA betting site with new promotions as the season progresses. 

You can only claim this welcome bonus offer if you live in the following SI Sportsbook States: Colorado and Virginia.. 

• Welcome Bonus: 100% Bonus Match up to $100
• Promo code: None
• Best Ongoing Promo: Daily SI SPORTSBOOSTS
• Minimum Deposit:$10
• Top deposit methods accepted:Credit Cards, Bank transfer, PayPal, 
• Payout speed:Up to 3 days

Promo codes are a great way to unlock exclusive sportsbook bonuses. Currently, most sportsbooks are offering their bonuses to everyone without a promo code. The one exception here is BetRivers, which requires that you enter the promo code SPORTS to claim its 2nd Chance Bet up to $500 welcome bonus.

It seems like every few months more states are legalizing sports betting in the US. One of the big challenges is that each state has its own rules and regulations when it comes to which sportsbooks can operate in each state, the available bonuses, terminology, and what sports are included in the sports betting legislation.

Therefore, going through each state's bonus offers on one page doesn't make a lot of sense. Click on the links below for the state or states that you plan on betting in for a complete breakdown of the best available sportsbook bonuses. 

Choosing the right sports betting bonus involves more than just understanding different types of promotions; it's about identifying the option that aligns with your preferences and elevates your enjoyment of the sports you love. Let's explore the key factors that can guide you in making an informed decision.

• The best percentage match isn’t always 100%

When selecting a sign-up bonus, look for a generous percentage match on your initial deposit. For instance, a sportsbook offering a 100% match will double your deposit, providing a substantial boost to your starting bankroll. Keep in mind that ongoing bonuses and promotions typically feature lower match percentages, ranging from 20% to 50%.

• What is the betting limit for the bonus offer

While a high percentage match is enticing, pay attention to the maximum limit set on the bonus. Choosing a sportsbook with a 50% match up to $500 might be more advantageous than a 100% match up to $100, especially for those planning to deposit a larger amount. Compare bonus caps, considering factors like a second chance bet bonus and a 100% match bonus. 

For instance, SI Sportsbook offers a 100% match up to $100, while BetMGM provides up to $1,500 back in Bonus Bets.

It's important to note that you'll only receive the BetMGM bonus if you lose your bet, whereas the SI Sportsbook bonus comes your way whether you win or lose. Consider your wager amount as well, as it can help determine the best offer for you.

• Can you get better odds to improve the bet

Opt for bonuses that enhance your odds, especially when you're unsure about a bet. If, for example, you're on a football betting site and find the +200 odds on the home team insufficient, a bonus that boosts the odds to +350 might make the bet more appealing.

• Find betting bonuses that were created for specific sports

Tailor your choice to sports you know and love. For instance, if you're a college football fan, look for special promotions during Bowl season. This ensures you not only enjoy bonus benefits but also capitalize on your knowledge and passion for a particular sport. Similarly, NHL betting sites may offer prop bet bonuses for achievements like hat tricks or if a player scores more than 4 points in a game.

Just because a sportsbook claims to have the best sportsbook promos, that doesn’t mean that you need to claim the offer, even if it sounds like a good deal. . 

Here are our tips and strategies for finding the right sports betting bonus for you: 

• Don’t be afraid to bet with multiple sportsbooks. You can sign up with several different operators to find the  best online betting offers for new customers.
• Understand the different types of bonuses (e.g., deposit match, free bets, reload bonuses) to strategically choose ones aligning with your betting preferences.
• Get the most value with deposit match bonuses by depositing an amount that maximizes the bonus percentage without exceeding your comfort zone.
• Focus your bonus bets on games you know. This strategic approach enhances the likelihood of meeting wagering requirements successfully.
• Download the sportsbooks mobile apps and compare the best app promotions to their best site promotions, to see if there’s an advantage of using a specific platform.
• If a bookmaker offers a cash-out option, use it strategically to secure your winnings or minimize losses, particularly when a bet is going against your prediction.
• Capitalize on sports seasons or major events when bookmakers often roll out special promotions and bonuses. These can provide added value during peak betting times,

What You Need To Be Aware Of Before Claiming a Sports Bonus

The best betting offers and the best betting sign up offers might look too good to be true, and in some cases they are. Here are some important factors to understand, that can help filter out sportsbook promos that aren’t really the “best” 

• Free isn't always free: Some promotions labeled as "free" still require you to make a deposit. It's crucial to read the fine print to see the actual cost and benefit of the bonus.
• Risk-free doesn't guarantee zero risk: While "risk-free" promotions offer a safety net, they often come with conditions. Your initial stake might be refunded as a free bet rather than as cash, introducing nuances to the term "risk-free."
• Wagering requirements matter: Before you can cash out or withdraw your bonus winnings, sportsbooks may require you to wager the bonus amount a certain number of times. Understand these conditions to make informed decisions.
• Expiration dates: Many bonuses have an expiration date. Missing this deadline could result in the forfeiture of the bonus. Stay vigilant about the timeline associated with each promotion.
• Market restrictions apply: Some bonuses may be limited to specific markets or events. Ensure that the bonus aligns with your preferred sports or wagering choices to optimize its utility.

Mistakes to Avoid

Letting the promotion expire before you place your bet: Some bonuses come with expiration dates, and neglecting them might result in missed opportunities for extra value.

• Not meeting the minimum wagering requirements: Overlooking rollover requirements is a common mistake. Each bonus may come with specific conditions, and understanding them ensures that you can withdraw the bonus funds.
• Placing bets that don’t meet the odds requirements:  Some of the best sportsbook promotions will specify minimum odds for qualifying bets. Ignoring this requirement will result in you not qualifying for the bonus. 
• Betting on markets that aren’t included in the bonus: Make sure your wagers align with the specified markets outlined in the sports betting offers to optimize the value you receive.
• Not getting the maximum value:  Maximizing value is crucial when it comes to sportsbook promos. Beyond the initial excitement they bring, actively seeking ways to extract the most value – whether through strategic betting or exploring different markets – enhances the overall impact of these sportsbook promotions on your betting experience.

How Sportsbook Promotions Work and How to Claim Them:

Sports betting promotions are designed as an incentive for you to sign up and stay with a sportsbook. But don’t make the mistake that these gambling bonuses are free money that the sportsbook is giving away. The bonus bets that you receive can only be used with certain markets and odds and can't just be withdrawn without using the same bonus bets multiple times and winning. Some bonus bets can never be redeemed; the sportsbook will keep your stake while you get to enjoy the winnings.

Understanding how these promotions work and the steps to claim them is pivotal for anyone looking to make the most of the opportunities offered by online betting platforms. Here are the basic steps needed to claim the best sportsbook promotions. 

1. Register your account: The first step to claiming any sportsbook bonus is to register your account and make a deposit.
2. Eligibility Criteria: To participate in sportsbook promotions, you need to meet specific eligibility criteria. This may include being a new user, making your first deposit, or fulfilling certain wagering requirements. Understanding these criteria is fundamental to successfully claiming the promotion.
3. Claim the promotion: Betting promotions come in various forms, including sportsbook sign-up bonuses, free bets, reload bonuses, odds boosts, and more. Some bonuses are automatically added to your account, and others you need to actively claim by clicking on a link or making certain bets. Each type has its unique benefits, eligibility criteria, and terms. Knowing the distinctions helps you choose the sports betting bonus that aligns with your preferences..
4. Find the right promo codes: Some promotions require you to enter a promo code to add the bonus to your account. Sometimes, we’ll have exclusive promo codes, and other times the sportsbook will provide it.
5. Make the qualifying bets: Some promotions may require users to place qualifying bets to activate the bonus fully. These bets often need to meet specific criteria, such as minimum odds or being placed on certain markets.
6. Make sure to select Bonus Bets on the bet slip: Before you submit your bet, take a second look at your bet slip to see that the Bonus Bet option is selected. If you forget, the bet will be made with money from your real money account.
7. Don’t forget to use the bonus bets before they expire: Pay attention to the expiration date for your bonus. Once the expiration date passes, the bonus will be removed from your account.

Betting on sports or leagues that you know is a smart choice. The same logic applies to finding promo codes and unlocking bonuses specifically geared towards your sport of choice. For example, a basketball fan that doesn’t know anything about MMA shouldn’t waste their time looking for a promo code that will give advanced odds for UFC Fight Night.

Click on the links below to find the best sportsbooks and promo codes, divided by sports. 

Legal sports betting is still pretty new in the US. Sportsbooks are figuring out how to appeal to bettors in different states. The bonus offers and terminology also vary by state due to local regulations.

We're excited to see how the sports bonuses will evolve in the coming years as more states legislate sports betting and come up with a uniform set of rules and regulations.

We've covered a lot of ground in this guide. You should understand the different types of bonuses and promotions, and what to look for before claiming and using them. Choose promotions that align with your preferences and betting style, ensuring that you fully understand the terms and conditions before diving in. Opt for quality over quantity, focusing on promotions that provide genuine value rather than being swayed solely by enticing figures.

• If you want to start with a splash and make your first bet $500 or more, I recommend signing up with BetMGM.
• The $1,500 safety net for losing a first bet is a high-quality offer that no one else matches.
• If your primary focus is daily fantasy, grabbing the FanDuel Bet $5 Get $150 is a great offer, win or lose.
• If you want a bonus with a focus on parlays, get the Betway Parlay Club and make at least a $25 bet on a 3+ leg parlay and get $10 in bonus bets.
• If you want to bring your friends in to join in the action with you, BetMGM has the top refer-a-friend bonus, $100 in bonus bets when your friend makes their first deposit.