BEST BONUS BETS TODAY: OCTOBER 2024

1. What are Bonus Bets / Free Bets?

Bonus bets are a type of sportsbook promo offered by sportsbooks to attract user sign ups and/or continued betting. With a bonus bet, the sportsbook gifts you credit to use on the site after you place a qualifying bet. This credit can then be used to win real cash.

For Example: ‘Bet $5 and get $150 in bonus bets’.

A free bet is often just another name used to describe a bonus bet. However, most sportsbooks in the U.S. don't use the term 'free bet' due to the fact they're not entirely free and still require a wager to unlock.

2. How do Bonus Bets Work?

To unlock a bonus bet offer you will usually have to create a new account with the sportsbook through a “sign-up offer" or redeem a “reload offer” (promos offered to existing customers to encourage continued betting).

The timing of when players receive their bonus bet depends on the specific offer. It may be awarded immediately upon sign-up (a "no deposit bonus"), or after meeting certain requirements, such as making a deposit and a qualifying bet (a "deposit bonus"). 

If your wager using the bonus bet wins, the winnings are usually paid out without the original stake. For instance, placing a $10 bonus bet on an event with +500 odds would result in $50 in winnings rather than $60, as the initial value of the $10 bonus bet is not returned.

Bonus bets can involve a range of other T&Cs, depending on the offer. These can include minimum odds requirements, event-specific criteria, time limits and more. 

3. How Can I Get Bonus Bets?

To get a bonus bet (A.K.A qualify for a bonus bet), a user must either follow the instructions outlined on a sign up offer, a reload offer or (less commonly) a VIP program. These offers are either advertised on the sportsbook's site or emailed directly to users.

Here are three examples of how users may unlock bonus bets:

• Bonus Bet Sign-Up Offer: Sign up to DraftKings and place a $5 wager on any market and we'll give you $150 in bonus bets to use within 30 days.
  
  
• Free Bet Reload Offer: Bet $10 every week of the World Cup with FanDuel and receive a $150 bonus bet straight to your inbox.
  
  
• VIP Program Bet Bonus: Reach 5,000 tier credits with Caesars Rewards to unlock an exclusive bonus bet offer.

Tip: Before you risk wasting your free bet offer, learn how you can guarantee a profit from each and every one of your sportsbook promos with this free guide. Perhaps you've already used all your sign up offers? Check out these five methods to ensure profits from sportsbooks long after you've signed up.

4. What Type of Bonus Bets Exist?

While bonus bets are typically the same in how they are placed, they can be redeemed in a range of ways. Here are five of the most common types of bonus bets:

1. Bet X Get X: This is the most common type of bonus bet. Here the bonus bet is unlocked by placing a qualifying wager, e.g. ‘Bet $5 Get $150’.
   
   
2. Deposit Bonus / Deposit Match: With this type, the user will have to deposit a given amount in order to unlock their bonus bet bonus. E.g. ‘Get a 50% Bonus when you Deposit Up to $100 (Bonus Paid in Bonus Bets)’.
   
   
3. No Deposit Bonus: As the name suggests, this promo type the user bonus bets without having to initially deposit any cash (these are much rarer). E.g. ‘Sign Up and Receive a $10 Bonus Bet’.
   
   
4. No Sweat Bet / Risk Free Bet: Whilst their own type of promo, no sweat bet rewards are often paid in the form of bonus bets. With no sweat bets, you place a bet using your own money and if it loses the sportsbook reimburses you in bonus bets. E.g. ‘First Bet Insurance up to $500’.
   
   
5. Site Credit: This is similar to a standard bonus bet, but you actually keep the stake if your bet wins. E.g. ‘Fill in the Survey to Redeem $20 in Site Credit’.

5. Which U.S. Sportsbooks Offer Bonus Bets?

With bonus bets being the most simple and recognisable sportsbook promo available across the U.S., that means a tonne of sportsbooks offer them to users.

You can check out the full list of online sportsbooks in the US that offer bonus bets (and click to see them) below:

• Action247 bonus bets
• Bally Bet bonus bets
• Bet365 bonus bets
• Betfred bonus bets
• betJACK bonus bets
• Betly bonus bets
• BetMGM bonus bets
• BetPARX bonus bets
• BetRivers bonus  bets
• Betway bonus  bets
• Borgata bonus  bets
• Caesars bonus  bets
• ClutchBet bonus bets
• Crab Sports bonus  bets
• Desert Diamond bonus  bets
• DraftKings bonus bets
• Eagle bonus bets
• ESPN BET bonus bets
• Fanatics bonus bets
• FanDuel bonus bets
• Firekeepers bonus bets
• Golden Nugget bonus bets
• Gun Lake bonus bets
• Hard Rock bonus bets
• MVGBet bonus bets
• Q Sportsbook bonus bets
• Sahara Bets bonus bets
• SI Sportsbook bonus bets
• Sporttrade bonus bets
• SuperBook bonus bets
• Tipico bonus bets
• WynnBET bonus bets

6. In Which States Can I access Bonus Bets?

Bonus bets can be accessed in all states where online sports betting is available. Online sports betting is available in the following states:

• Arizona
• Arkansas
• Colorado
• Connecticut
• Delaware
• Florida
• Illinois
• Indiana
• Iowa
• Kansas
• Kentucky
• Louisiana
• Maine
• Maryland
• Massachusetts
• Michigan
• Nevada
• New Hampshire
• New Jersey
• New York
• North Carolina
• Ohio
• Pennsylvania
• Rhode Island
• Tennessee
• Vermont
• Virginia
• Washington D.C.
• West Virginia
• Wyoming

7. Are there any Bonus Bet Tools or Calculators?

You can take your bonus bet game to the next level by utilising a range of powerful bonus bet-related tools that do everything from calculating potential winnings from your bonus bet to converting bonus bets into guaranteed cash. Below are three of the most powerful.

Free Bet Conversion Calculator

A free bet conversion calculator is a simple but valuable tool that helps bettors calculate their potential payout from a bonus bet (as well as how much to hedge it by).

By entering the bonus bet amount, bonus bet line and hedge line, the calculator instantly works out exactly how much you should hedge your bet by in order to earn the calculated profit.

Dutch Matcher

A more advanced (but equally simple to use) piece of software for maximizing bonus bets is the Dutch Matcher.

The Dutch Matcher instantly scans all upcoming sporting events in your states, ranks them from most to least profitable (in line with your bonus bet) and tells you exactly how to place them and hedge them to guarantee a profit from your promo, regardless of the event's outcome.

Dutch Matcher Calculator

Working hand-in-hand with the Dutch Matcher, the Dutch Matcher Calculator calculates the exact figure you must hedge (bet on the opposing side) your bonus bet by to guarantee a profit regardless of a sporting event's outcome.

Together, they are the most powerful and profit-earning bonus bet tools on the market today, and you can get full access to both of them for $49.50 in ProfitDuel's Premium Trial.

8. What T&Cs do Bonus Bets Have?

When redeeming bonus bets it's important to be aware of the terms and conditions (T&Cs) attached to each promo to make sure you don't lose out.

10 common sportsbook promo T&Cs you'll come across include:

1. Minimum Deposit Requirements: Some bonus bets may require a minimum deposit to be eligible.
   
   
2. Wagering Requirements: Bonus bets may have wagering requirements that specify how many times you need to wager the bonus amount before you can withdraw winnings.
   
   
3. Expiry Dates: Bonus bets may have a limited validity period, after which they expire.
   
   
4. Eligible Sports or Events: Some bonus bets may be limited to specific sports or events.
   
   
5. Maximum Bet Limits: There may be restrictions on the maximum amount you can bet using the bonus bet.
   
   
6. Restricted Payment Methods: Certain payment methods may be excluded from participating in the bonus bet.
   
   
7. Promo Codes: Some bonus bets require the use of a promo code during the registration or deposit process.
   
   
8. One-Time Use: Some bonus bets may be limited to one-time use per account or household.
   
   
9. Country or State Restrictions: Bonus bets may only be available to residents of certain countries or states.
   
   
10. Voiding of Promo: Violating the T&Cs may result in the voiding of the bonus bet and any associated winnings.

9. Are there any League or Sport-Specific Bonus Bets?

Looking for league or sport specific bonus bets? Most popular sportsbooks will offer a wide range of bonus bet promotions that are specific to certain leagues and sports.

These are regularly updated and changed, however, check out some examples of popular league/sport specific bonus bets below.

NFL

• DraftKings: Bet $5 on any NFL game and get $200 in bonus bets instantly.
• BetMGM: Bet $10 on any NFL game, win $200 if any team scores a touchdown.
• Caesars: Up to $1,250 on Caesars for your first bet if it loses, you get it back in a bonus bet.
  
  

NBA

• DraftKings: Bet $5 and get $150 in bonus bets on NBA games.
• FanDuel: Same Game Parlay Insurance — place a 3+ leg parlay, get a refund in bonus bets if one leg loses.
• BetRivers: Place a first basket scorer bet and get a bonus bet equal to your stake if it loses.
  
  

MLB

• FanDuel: MLB Parlay Insurance — place a 4+ leg parlay and get your bet back in bonus bets if one leg loses.
• BetMGM: Bet $10 on MLB and get $200 if either team hits a home run.
• Caesars: Daily odds boosts and profit boosts on MLB games.
  
  

NHL

• DraftKings: Bet $5 on NHL, get $150 in bonus bets.
• FanDuel: NHL No Sweat First Bet up to $1,000.
• Caesars: Bet $50 on NHL futures and get a $5 bonus bet for every game your team wins.
  
  

College Football

• FanDuel: College football parlay insurance — get your stake back in bonus bets if one leg loses on a 4+ leg parlay.
• BetMGM: Risk-free first bet up to $1,000 on college football.
• PointsBet: Bet $100 on a college football game, get a $50 bonus bet.
  
  

College Basketball

• DraftKings: Bet $5 and get $200 in bonus bets on any college basketball game.
• FanDuel: Bet $20 on any college basketball game, get $10 in bonus bets for every 3-pointer scored.
• BetMGM: Place a moneyline bet on a college basketball game, get $10 in bonus bets for every 3-pointer your team makes.
  
  

Soccer:

• DraftKings: Bet $5 on any soccer match, get $150 in bonus bets.
• FanDuel: Soccer Parlay Insurance — place a 5+ leg parlay and get your stake back in bonus bets if one leg loses.
• BetMGM: Bet $10 on MLS, win $200 if your team scores a goal.
  
  

UFC:

• FanDuel: UFC Same Game Parlay Insurance — get your stake back in bonus bets if one leg loses.
• BetMGM: Bet $10 on UFC and get $200 if either fighter lands a punch.
• Caesars: First bet insurance up to $1,250 on UFC fights.
  
  

PGA:

• DraftKings: Bet $5 on any golf tournament, get $150 in bonus bets.
• BetMGM: Place a $20 bet on the winner and get a $10 bonus bet for every birdie your player makes.
• PointsBet: Place a top-10 finish bet on PGA events, get your stake back if your golfer leads after any round.
  
  

NASCAR:

• FanDuel: NASCAR Bet & Get — place a $10 bet, receive $5 bonus bet for every caution flag in the race.
• BetMGM: Bet $10 on a driver to win, get $5 for every lap they lead.
• Caesars: Place a bet on a driver to win, get a $5 bonus bet for each of their top-3 finishes during the season.

10. How Do We Evaluate and Review Sportsbook Promotions & Bonuses?

Our team, consisting of seasoned sports betting professionals, boasts decades of experience in identifying and utilizing sportsbook promotions throughout the US and Europe.

Leveraging their extensive industry expertise and advanced promo comparison tools, they assess, rate, and rank the leading bonuses in each state, saving you the hassle.

The six key factors they consider in this evaluation are:

1. Maximum Bonus Value: While high bonus amounts may seem attractive, bigger isn't always better; larger bonuses can often be harder to attain.
   
   
2. Personal Investment: Many bonuses require a minimum deposit or bet to be activated.
   
   
3. Ease of Use: Most bonuses are straightforward to claim, often needing just a small deposit or a specific promo code. However, some offers may come with more complex terms.
   
   
4. Playthrough Requirements & Odds Restrictions: Bonuses usually can't be immediately withdrawn as cash; you'll need to wager the bonus amount a set number of times first.
   
   
5. Bonus Expiration Date: It's crucial to be aware of the time limit for using bonus funds and whether this timeframe is sufficient.
   
   
6. Additional Perks: Some bonuses include extra rewards points or bonus spins at the sportsbook's casino.

11. What are the Benefits of Bonus Bets?

Bonus bets can offer a variety of potential benefits depending upon which promo type you use and your success in using it. Four common benefits include:

1. Risk-Free Opportunity: Bonus bets provide a chance to place wagers without risking your own money, allowing bettors to explore different markets and strategies without the fear of losing their own funds.
   
   
2. Enhanced Winnings: Bettors can use bonus bets to potentially earn real money profits without any initial investment, effectively increasing their returns if their wagers are successful.
   
   
3. Exploration of New Sports and Markets: Bonus bets encourage bettors to explore unfamiliar sports or betting markets, broadening their betting experience and knowledge without the worry of financial loss.
   
   
4. Testing New Betting Strategies: Bonus bet promotions allow bettors to experiment with new strategies or betting tips, providing a practical way to test theories without the usual financial commitment.
   
   
5. Opportunity to Build a Bankroll: Bonus bets can help bettors gradually build their gambling bankroll from scratch, turning promotional funds into a significant amount of money over time with strategic wagering.

12. What are the Risks Attached to Bonus Bets / Bonus Bets?

While claiming bonus bets and bonus bets can be a great way to maximize your betting profits, it's crucial to be aware of their potential risks.

Four of the most notable risks attached to bonus bets/bonus bets are:

1. No Guaranteed Winnings: Whether it's a $150 bonus bet, a $1,000 no sweat bet or a 50% deposit bonus, if you place your bonus bet on a losing bet you will still come away with no more cash than when you started.
   
   
2. Risk of Losing Money: One of the most common ways bettors lose money through promos is through risk bonus bets. Let's say you're gifted a $500 risk bonus bet and you place your $500 on the losing side of a game, you won't be refunded with $500 of withdrawable cash, but instead $500 of site credit (often in the form of a bonus bet). Place this bonus bet on the losing side and you've just lost $500 to the sportsbook.
   
   
3. Limited Number of Sign-Up Bonuses: While sign-up bonuses can be generous, you can only ever receive one sign-up bonus from each sportsbook (when you first create an account). This means that there's only a set number of sign-up bonuses available to each user. As a result, relying purely on these may not be a sustainable long-term plan.
   
   
4. Misuse of Promos: Certain promos have more complex rules and often hidden T&Cs. As a result, if you go into them without proper guidance and support you can risk reducing the amount of overall profit you earn, or worse, lose money.

But it isn't all doom and gloom. There is one way you can guarantee profits from bonus bets, risk-free, every time.

Sound too good to be true? Read the next section.

13. How to Guarantee Profits from Bonus Bets?

While it's true risks can arise when claiming bonus bets, one clever technique exists that can remove them and guarantee you profits from promos every time.

Promo conversion (A.K.A matched betting), is a fully legal, super simple (with the right platform) method of turning sportsbook promos into guaranteed cash.

Simply put, it involves betting on one side of a game to qualify for a sportsbook promo, then betting on the other side to cover both outcomes and remove the risk. Repeat this process using your new promo and voila! You've locked in a guaranteed profit.

And while this sounds simple on paper, to earn serious monthly profits with this technique you need rapid odds-matching software, an up-to-date promo database and tailored instructions for converting each offer at your disposal.

14. Why Choose ProfitDuel?

At ProfitDuel we have over 10 years' experience in the matched betting industry at the highest level. In that time we've helped 400,000+ members in the US & Europe earn guaranteed profits in the $1,000s each month converting sportsbook promos like bonus bets.

How exactly? By taking the complex-sounding promo conversion process we touched on in the last section, and creating intelligent software, easy-to-follow strategies and expert one-to-one customer support to make it insanely simple.

Not sold yet? Read the 5 simple steps to converting sportsbook promos in our free guide to see just how easy it can be to add $1,000s to your monthly income.

When you've done that and you're ready to start earning guaranteed profits, sign up to ProfitDuel using our limited-time offer: 50% off your first month of ProfitDuel!