Best Sportsbook Promos and Bonuses in November 2024

There are lots of different types of sports betting promos, each with unique benefits. Let’s take a look at some of the most common sportsbook bonuses you’ll be offered:

Welcome Bonuses

Welcome bonuses are promotional offers specifically designed to entice and reward new users who sign up with a betting site. They’re a way for online sportsbooks to entice new players to come through the doors and reward them for making their first deposit. These bonuses are critical for new users because they come with several advantages.

Here are some popular welcome promo types:

• Deposit Match Bonus: This type of welcome bonus gives you extra money by matching a percentage of your first deposit. For example, a 50% deposit match bonus would give you back $100 if you made a deposit of $200. Most of the time, there is a minimum deposit limit for this type of bonus.
• Free Bet Bonus: Sometimes, online sports betting sites will offer a rebate on your initial wager, or provide you with free bet credits. Online sports betting sites sometimes give these non-withdrawable bonus bets instead of a cash bonus, allowing players to make a qualifying wager without using any of their own funds. This is a cool promo but may come with extra restrictions, such as a set minimum wager amount or a minimum -200 odds requirement.
• No Deposit Bonus: Some sportsbooks have no-deposit bonuses, a rare type of sports betting promo that gives players free money just for signing up. You don’t need to make a deposit to get this bonus, which makes it appealing, but it’s important to make sure an offer like this come with manageable wagering requirements. It’s a way for you to check out the platform and maybe even make a profit before ever making a real money wager.

Reload Bonuses

Reload bonus offers are deposit match bonuses for already active users on a platform. These are ongoing sports betting promos where a site gives you extra money based on a percentage of your deposits. These bonuses act as a thank you, encouraging sports fans to keep using a site. Usually, there is no exclusive promo code required to get these offers.

Bonus Bets & Risk-Free Bets

Bonus bet credits and risk-free bets are popular types of sportsbook promotions that allow users to place a bonus wager using betting credits instead of their own funds or to bet with a bit of an insurance policy.

Bonus bets are typically awarded as a promotional incentive. Users receive a specific amount of funds in the form of bonus bet credits. These credits can then be used to place bets. If the bet wins, the user receives the winnings but not the stake itself. If the bet loses, they don’t lose any of their money. There are special requirements that constitute a qualifying wager, like specific sports markets or game odds.

Risk-free bets, on the other hand, involve placing a bet using the user’s funds. If the bet loses, the sportsbook refunds the amount wagered in the form of bonus credits. This promotion gives players a chance to recoup their losses, and is sometimes known as a second-chance bet. Some sites offer this sports betting bonus to new players, known as first bet insurance.

Odds Boosts

Enhanced odds or odds boosts promotions give you better chances of winning by offering higher odds than usual on certain betting opportunities.

Sportsbooks sometimes pick specific events, like a big tournament or specific types of bets, including parlay bets and make the game odds better than usual. If you spot these better odds and make a successful bet, you could have a large potential payout.

Some sportsbooks even offer odds boosters as an ongoing promotion to encourage bets on a certain league, like boosted NHL odds every Thursday, for example. 

Profit Boost Bonus Offers

Profit boost bonus offers are special deals from online sportsbooks that make it possible for you to win more money on certain bets. These offers usually apply to specific sports markets or types of bets, and they make the payout higher than the normal odds would. So, if you win with a profit boost bonus, you get even more money than you would have otherwise.

For this type of bonus, the sportsbook offers an additional percentage on top of the regular winnings. For example, a 20% profit boost on a bet could mean that if a bettor stands to win $100 on a wager, with the profit boost, they would instead win $120. The percentage of the profit boost varies and can be applied to a wide range of sports and events.

Cashback Bonuses

Cashback bonuses are a form of financial safety net provided by sportsbooks. If you lose money while betting over a certain period, the sportsbook gives you back a percentage of those losses. It’s a way to soften the blow and encourage you to keep using the platform.

For example, a sportsbook might offer a 10% weekly cashback bonus on net losses. If a user has net losses of $100 in a week, they would receive a $10 bonus. Cashback bonuses typically have a cap on the maximum amount that can be returned and may require a certain volume of cash wagers to qualify.

Regular bettors like cashback bonuses because they help reduce the risk of losing money and don’t come with a time limit. Even if you have a streak of bad luck and lose some bets, the cashback bonus gives you back a part of what you lost.

Early Payout Offers

Early payout offers are a type of promotion where sportsbooks payout bets as winners before the event has concluded, under certain conditions. For instance, a sportsbook may offer an early payout on a soccer match if the team you bet on leads by two goals at any point in the game.

Early payout offers make betting even more exciting because they let you lock in your winnings before the game is over. This means you don’t have to worry about the other team making a comeback and ruining your win. It’s an attractive choice for bettors who like to play it safe and celebrate their victories early.

Loyalty Programs

Loyalty and VIP programs are a way that online betting sites reward regular players. The more you bet or the more active you are on a particular sports betting site, the more generous offers you can get. These rewards can include things like deposit boosts, free bets or other special promotions.

Referral Bonuses

A referral bonus offer is a cool way for sportsbooks to get more people to join. They encourage current users to invite their friends or family to sign up. When a new person signs up using a special link or referral code from someone who already uses the sportsbook, both of them can get a bonus.

Referral bonus offers can differ depending on the sportsbook. This bonus could be a fixed amount of free bets or a percentage of what your friend deposits. For instance, if your friend signs up and makes a qualifying deposit, you both might get a $50 free bet to use.

Referral bonuses are like a win-win for both the sportsbook and its patrons. They help the sportsbook get more users while also making existing users happy. When you invite friends to join, you can both enjoy those sweet referral rewards.