The Complete Guide to Sportsbook Bonuses (2026)
- Adam Small
- Mar 8
- 11 min read
Updated: Apr 15
Sportsbooks compete aggressively for new customers.
As online sports betting expands across the United States, Canada, and many international markets, sportsbooks are spending millions of dollars trying to attract new bettors.
One of the most effective tools they use is sportsbook bonuses.
These promotions are designed to encourage new users to sign up and start placing bets.
You’ve probably seen offers that look something like this:
Bet $100 → Get $100 in Bonus Bets
$1,000 Risk-Free Bet
Deposit $200 → Get $200 Bonus
Bet & Get Promotions
For casual bettors, these bonuses simply provide additional betting opportunities.
But experienced bettors know something most people don’t.
Sportsbook bonuses can be converted into predictable profit using a strategy known as matched betting.
Matched betting removes the risk from sports betting by placing bets on both sides of the same event.
Instead of gambling on the outcome of a game, the bettor simply extracts the value from the sportsbook promotion.
When done correctly, the result of the sporting event becomes irrelevant.
This strategy has grown rapidly in popularity as more sportsbooks enter the market and compete for new customers.
In this guide, we’ll explain everything you need to know about sportsbook bonuses, including:
how sportsbook bonuses work
the different types of promotions sportsbooks offer
how matched bettors convert bonuses into guaranteed profit
the best sportsbook bonuses currently available
how to maximize sportsbook promotions
By the end of this guide, you’ll understand exactly how sportsbook bonuses work and how they can be used to generate consistent profit.
If you’re new to matched betting, you should first read The Ultimate Guide to Matched Betting (Beginner Tutorial).
Why Sportsbooks Offer Bonuses
Sportsbooks offer bonuses for one simple reason:
Customer acquisition.
The online sports betting industry is extremely competitive.
New sportsbooks launch regularly, and existing companies constantly fight to attract new users.
Acquiring a customer can cost sportsbooks hundreds of dollars in advertising and marketing.
Instead of spending that entire budget on ads, sportsbooks often allocate part of it toward promotional bonuses.
These bonuses encourage new users to:
create an account
deposit money
place their first bets
From the sportsbook’s perspective, the goal is simple.
Once a bettor starts betting on the platform, they hope the user continues wagering long after the bonus has been used.
However, sportsbooks design these promotions under the assumption that most bettors will gamble with them.
Matched bettors take advantage of this assumption by using the promotions strategically.
Instead of gambling with the bonus, they hedge their bets and convert the bonus into profit.
To understand exactly how this works, see The Matched Betting Calculator Guide: How to Guarantee Profit on Every Bet.
The Different Types of Sportsbook Bonuses
Sportsbooks offer several different types of promotions.
Understanding how each one works is essential for maximizing profit opportunities.
Below are the most common types of sportsbook bonuses.
Bet and Get Bonuses
Bet and get promotions are one of the most common sportsbook bonuses.
They usually follow a simple structure:
Bet $X → Get $X in Bonus Bets
For example:
Bet $100 → Get $100 in Bonus Bets.
The bettor must place a qualifying wager to unlock the bonus bet.
Once the qualifying bet settles, the sportsbook awards the bonus bet regardless of whether the original bet wins or loses.
Matched bettors hedge the qualifying bet on a betting exchange.
Although the qualifying bet typically produces a small loss, the bonus bet that follows can be converted into profit.
This type of promotion is commonly offered by sportsbooks such as:
These promotions are ideal for beginners because they are simple and predictable.
Risk-Free Bet Promotions
Another common promotion is the risk-free bet.
These offers typically work like this:
Bet $500 risk free.
If the bet wins, the bettor receives the profit normally.
If the bet loses, the sportsbook refunds the stake in bonus bets.
This structure is particularly attractive for matched bettors because the refunded bonus bet can be converted into profit.
Sportsbooks that frequently offer this type of promotion include:
When converted correctly, risk-free bet promotions can generate significant profit.
Deposit Match Bonuses
Deposit match bonuses are another type of sportsbook promotion.
These offers usually look something like this:
Deposit $200 → Get $200 bonus.
However, deposit match bonuses typically come with wagering requirements.
This means the bettor must wager the bonus multiple times before withdrawing any winnings.
Because of these wagering requirements, deposit match bonuses are usually less attractive for matched bettors.
However, some deposit match promotions can still be profitable if the wagering requirements are reasonable.
Free Bet Promotions
Free bets are another common promotional format.
These promotions award bettors free bet credits that can be used on sportsbook wagers.
However, free bets work slightly differently from normal wagers.
When a free bet wins, the sportsbook returns only the profit, not the original stake.
Because of this, free bets must be converted strategically in order to maximize value.
This process is known as free bet conversion.
To learn how this works in detail, read Free Bet Conversion: How to Turn Free Bets Into Cash (Complete Guide).
How Matched Betting Turns Bonuses Into Profit
Matched betting works by placing two opposite bets on the same sporting event.
These bets are placed on two different platforms:
A sportsbook
A betting exchange
At the sportsbook, the bettor places a back bet.
This is the traditional type of bet most people are familiar with.
It wins if the selected outcome happens.
At the betting exchange, the bettor places a lay bet.
A lay bet wins if the selected outcome does not happen.
Because both outcomes are covered, the bettor is no longer gambling on the result of the game.
Instead, they are simply extracting value from the sportsbook promotion.
This strategy is what makes matched betting different from traditional sports betting.
To understand how exchanges work, read:
Best Sportsbook Bonuses for Matched Betting
Some sportsbook bonuses are significantly more profitable than others.
Matched bettors typically focus on sportsbooks that offer simple promotions with minimal wagering requirements.
Below are some of the most popular sportsbooks for matched betting.
FanDuel frequently offers bet and get promotions that are ideal for matched betting.
These offers are often structured in a way that makes them easy to convert into profit.
See FanDuel Matched Betting Guide (2026): How to Turn the FanDuel Bonus Into Guaranteed Profit for a full walkthrough.
DraftKings is one of the largest sportsbooks in North America and frequently offers competitive signup promotions.
See DraftKings Matched Betting Guide (2026): How to Turn the DraftKings Bonus Into Guaranteed Profit for a detailed breakdown.
BetMGM regularly offers risk-free bet promotions that can generate significant matched betting profit.
Caesars Sportsbook has historically offered some of the largest signup bonuses in the industry.
bet365 is one of the largest international sportsbooks and often offers bet credit promotions.
BetRivers frequently offers bet and get promotions suitable for matched betting.
ESPN BET has entered the sportsbook market aggressively and frequently offers promotions to attract new users.
Fanatics Sportsbook is a newer entrant to the market and frequently offers aggressive promotions.
See Fanatics Sportsbook Matched Betting Guide (2026): How to Turn the Fanatics Sportsbook Bonus Into Guaranteed Profit.
PointsBet offers several types of promotions that can be used for matched betting.
Betway is an international sportsbook that frequently offers bet and get promotions.
Comparing the Best Sportsbook Bonuses
Once you understand how sportsbook promotions work, the next step is identifying which bonuses offer the best profit potential.
While many sportsbooks advertise large promotional offers, the actual profit potential depends on several factors, including:
the type of bonus offered
wagering requirements
bonus bet conversion rate
available betting markets
Matched bettors typically prioritize bonuses that are easy to convert into profit with minimal restrictions.
Below is a comparison of several popular sportsbook bonuses.
Popular Sportsbook Bonuses for Matched Betting
Sportsbook | Bonus Type | Typical Profit | Full Guide |
Bet & Get Bonus | $80–$120 | ||
Bet & Get Bonus | $70–$110 | ||
Risk-Free Bet | $90–$140 | ||
Risk-Free Bet | $80–$130 | ||
Bet Credits | $60–$100 | ||
Bet & Get Bonus | $60–$110 | ||
Bet & Get Bonus | $60–$110 | ||
Bet & Get Bonus | $60–$110 | ||
Bet & Get Bonus | $60–$110 | ||
Bet & Get Bonus | $60–$100 |
Each of these sportsbooks offers promotions that can be converted into predictable profit when used with matched betting strategies.
How Much Money Can You Make From Sportsbook Bonuses?
The total profit from sportsbook bonuses depends on how many promotions you complete and how efficiently you convert the bonus bets.
A typical matched bettor might see profits like this:
Sportsbook | Estimated Profit |
FanDuel | ~$100 |
DraftKings | ~$90 |
BetMGM | ~$120 |
Caesars | ~$110 |
bet365 | ~$80 |
BetRivers | ~$80 |
ESPN BET | ~$80 |
Fanatics Sportsbook | ~$80 |
PointsBet | ~$80 |
Betway | ~$70 |
Completing all of these sportsbook promotions can easily generate $800–$1,000 in total profit.
Many beginners reach their first $1,000 in matched betting profit simply by working through these signup bonuses.
For a full walkthrough of how beginners reach this milestone, see How Beginners Make Their First $1,000 With Matched Betting.
Advanced Sportsbook Bonus Strategies
Once you’ve completed the basic signup bonuses, there are several strategies that can help you continue generating profit.
Experienced matched bettors use these techniques to maximize long-term earnings.
Ongoing Reload Bonuses
Many sportsbooks offer reload bonuses to existing customers.
These promotions are similar to signup bonuses but are available to users who already have accounts.
Examples include:
bet and get promotions
odds boosts
free bet promotions
profit boosts
Reload bonuses can often be converted into additional matched betting profit.
Promotional Bet Insurance
Some sportsbooks offer promotions that refund losing bets as bonus bets.
These promotions are similar to risk-free bets and can be converted into profit using the same matched betting process.
Arbitrage Opportunities
Occasionally sportsbooks offer odds that differ significantly from betting exchanges.
When this happens, bettors may be able to place bets on both sides of an event and guarantee profit regardless of the outcome.
This is known as sports betting arbitrage.
While arbitrage opportunities are less common than matched betting promotions, they can still provide occasional profit opportunities.
-> Read - Matched Betting Vs. Arbitrage
Choosing the Best Sports for Matched Betting
One of the most important factors in successful matched betting is selecting the right sports and betting markets.
Events with high betting volume typically produce the closest odds matches between sportsbooks and betting exchanges.
Some of the best sports for matched betting include:
NFL
The NFL is the most heavily bet sport in the United States.
Because of the massive betting volume, odds between sportsbooks and exchanges are usually very similar.
NBA
NBA games occur almost daily during the regular season, providing frequent betting opportunities.
The high betting volume often results in strong odds matches.
MLB
Major League Baseball offers hundreds of games every season.
This constant schedule provides a steady stream of matched betting opportunities.
Soccer
Major international soccer leagues attract enormous betting volume worldwide.
Events like the Champions League and Premier League often produce excellent matched betting opportunities.
If you want a deeper explanation of how to choose betting markets, read The Best Sports for Matched Betting.
Common Sportsbook Bonus Mistakes
Beginners often make a few mistakes when they first start using sportsbook bonuses.
Avoiding these mistakes can help protect your profits.
Not Using a Matched Betting Calculator
Trying to calculate bets manually often leads to errors.
Matched betting calculators automatically determine the correct stake sizes.
For a full guide, see The Matched Betting Calculator Guide: How to Guarantee Profit on Every Bet.
Choosing Poor Odds Matches
If the odds between the sportsbook and exchange are too different, the qualifying loss increases.
Always try to find events where the odds are as close as possible.
Misunderstanding Free Bets
When a free bet wins, the stake is not returned.
Only the profit is paid out.
This is why bonus bets must be converted strategically.
Do Sportsbooks Limit Bonus Abuse?
Sportsbooks sometimes limit accounts that consistently take advantage of promotions.
This practice is often referred to as gubbing.
When an account is limited, the sportsbook may:
restrict bet sizes
remove promotional eligibility
limit certain markets
However, these restrictions usually occur only after multiple promotions have been completed.
Most beginners can complete several sportsbook bonuses before encountering any limitations.
If you'd like to learn how to reduce the risk of limitations, see:
Sportsbook Bonuses FAQ
Are sportsbook bonuses really profitable?
Yes. When used with matched betting, sportsbook bonuses can be converted into predictable profit.
Is matched betting legal?
Matched betting is legal in most jurisdictions because it simply involves placing bets on both sides of an event.
For more details, see Is Matched Betting Legal in the US, UK, and Canada?
Do you need a betting exchange for matched betting?
Yes. Betting exchanges allow bettors to place lay bets, which are necessary to hedge sportsbook wagers.
To learn how exchanges work, read The Complete Guide to Betting Exchanges (2026).
How much money can beginners make?
Most beginners earn $1,000-$5,000 by completing sportsbook signup bonuses.
Some bettors earn significantly more by continuing with reload promotions.
The Best Sportsbook Bonuses to Start With
If you’re just starting out, these sportsbook promotions are some of the best opportunities available.
Some of the most popular opportunities include:
Working through multiple sportsbook bonuses is how many beginners generate their first several hundred dollars with matched betting.
Start Making Money With Matched Betting
Sportsbook bonuses provide one of the easiest ways for beginners to start making money online.
Instead of gambling on the outcome of sports events, matched bettors use sportsbook promotions to generate predictable profit.
By working through multiple sportsbook bonuses, many beginners generate their first $500–$1,000 in matched betting profit.
The key to doing this efficiently is using the right tools to find profitable bets, calculate stake sizes, and track your progress.
If you're ready to start making money with matched betting OddsMatched has everything you need to be successful.
With OddsMatched you can:
• Find profitable matched betting opportunities
• Use powerful matched betting calculators
• Track bets across sportsbooks
• Learn proven strategies used by experienced matched bettors
If you're ready to start making money:
written by: Adam Small - Matched betting expert @ OddsMatched.com
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