Sportsbooks and casinos use two different revenue models, even if they are housed under the same roof or available on the same website. Sportsbooks charge juice or “vigorish” on each bet as a fee for their bookmaking services. On the other hand, casino customers play against the house. Each casino game’s payout rate, guarantees the casino – on average – a return that provides a consistent revenue stream even if a few customers win big.
Therefore, the bonuses sportsbooks and casinos offer will differ in how they are structured, and in which ways they can be claimed. Sportsbooks typically tailor bonuses around a single bet, often limiting customers to riskier wagers like parlays. Casinos commonly offer customers match play, or deposit bonuses with certain play-thru requirements.
Both casinos and sportsbooks typically offer new customer bonuses that amplify an initial deposit, subject to certain terms and conditions.
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Table of Contents
Sportsbook Bonuses
Sport betting bonuses commonly fall into one of three categories depending on the customer’s relationship with the online sportsbook. For example, new customers are typically offered a one-time bonus to get them through the door. Then, once they’ve been playing for a while, they’ll be offered seasonal bonuses and “reload” bonuses.
Common Types of Sports Betting Bonuses
The following are different types of sports betting bonuses. Though the exact categories may vary depending on the particular sportsbook, these are the most common we’ve seen at various legal sports betting sites.
- New Customer Bonuses – Sportsbooks want to earn your business with a generous welcome offer. Note that the sportsbook’s rules will prohibit you from combining a new customer bonus with other offers.
- Existing Customer Bonuses – Commonly targeted to specific sports and wagers, with seasonal availability by sport or event.
- Free Play Contests – Available to all customers. Examples include Pick’em games, novelty video games for prizes, football squares, etc.
- Customer Loyalty Programs – Though not technically a bonus, joining a loyalty program can lead to gifts, special offers, and other perks.
- VIP Benefits and Promotions – Special rewards, prizes, a dedicated host or concierge, and preferential treatment for high-end players.
Example Sportsbook Bonuses
- Match Play – Deposit match bonuses are among the most commonly offered bonuses. Sports betting match play bonuses work like casino match play offers you would find in Las Vegas. Your initial deposit up to a certain amount is matched 100%. The most common limit is $250, though some will go as high as $500.
- 2nd Chance Bet – If your very first wager loses, you’ll get a bonus bet equal to the amount of your first bet, up to a specific limit. The most common amount is $100, with some bonuses going higher during peak customer acquisition periods.
- Parlay Bet Insurance – Earn a bonus on select losing wagers. For example, a 4+ selection MLB parlay with just one losing selection will qualify you for a bonus bet. You’ll also find this promotion offered for the NFL, college football, and tennis.
- Bet and Get – Earn a bonus bet when you place a qualifying wager that ends up losing. Example qualifying wagers include Same Game Parlays and special prop bets for the NFL, College Football, MLB, and soccer.
- Free Play Contests – BetRivers offers Free Play contests to all its customers. Contests vary seasonally. The most popular BetRivers free play contests include its Pick’em Game, Football Squares, Super Bowl and March Madness contests.
Sportsbook Bonus Resources
To learn more about current sports betting bonuses and seasonal specials, have a look at our featured betting partners:
We also suggest reviewing betting bonuses for current in-season sports:
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Casino Bonuses
Like sports betting bonuses, the type of bonuses offered to casino customers will vary depending on their relationship with the casino. New customer bonuses and other one-time promotions will increase a customer’s bankroll, but often come with substantial play-thru requirements and limitations.
Existing customer bonuses are designed to maintain loyalty and ongoing customer deposits. These usually take the form of rebates and lossback bonus. Casinos award other bonuses seasonally – particularly around the holidays, or every 1-2 months as part of a customer retention plan, or sporadically via single use free plays, free spin, or nominal account credits.
Common Types of Casino Bonuses
The following are different types of casino bonuses.
- New Customer Bonuses – Like sportsbooks, casinos want your business. These bonuses invite you register a new account and deposit real money.
- Existing Customer Bonuses – Casinos use occasional promotions and bonuses to encourage subsequent real money deposits.
- Free Play Contests – Available to all customers. Examples include free spin games, blackjack tournament, holiday slots tournaments, etc.
- Customer Loyalty Programs – Casino loyalty programs usually provide players with comps, gifts, prizes, and occasionally vacations.
- VIP Benefits and Promotions – Additional comps, bonuses, higher rebates, and a personal account concierge for serious customers.
Example Casino Bonuses
- Match Play – Casinos will frequently offer a single match-play bet, commonly up to $100. If you win the bet, you keep the money as yours. You may cash out your balance after any play-thru requirements have been met.
- First Deposit Bonus – The most common at online casinos: your first deposit is increased up to 100%-200%, subject to play-thru requirements and some game limitations.
- Rebates and Cashback Bonuses – Get a nominal amount of your losses returned, typically between 6%-10% each week. Casinos commonly offer this bonus to longstanding customers.
- Reload Bonuses – Your 2nd, 3rd, or 4th deposit will be increased by 25%-100% to encourage your repeat business, subject to play-thru requirements.
- Free Spins – Play a “Wheel of Fortune” like game to potentially win cash, prizes, or special perks. Online casinos will dangle 5-10 free spins in front of customers who haven’t deposited in a while, or to reward them for consistent play.
Casino Bonus Resources
Though SportsBetting3.com is more of a sports oriented site, our partners do have casino games. We suggest the following for evaluating their casino bonuses:
- Review the bonus terms and conditions carefully, noting play-thru requirements.
- Check for any cross-wallet benefits. For example, if your sports betting bonus also comes with a $10 casino free play or match play. Don’t let any free cash go to waste.
- Casinos often tailor bonuses to particular games. Bonuses for table games with a lower house edge will typically offer less to the player than to higher margin games like slots.
- Always shop bonus offers: new player bonuses by game type will vary among providers. For example, Bonus.com free slots resources keeps a regularly updated menu of slots offers, just like SportsBetting3.com’s league-by-league bonus comparison.
Which Gambling Bonuses Are Best?
Whether a sportsbook or casino bonus is better really depends on what kind of customer you are, and what your ultimate goal is:
- Sportsbook Bonuses – Easier to beat, but can limit real bankroll growth if and when you meet any play-thru requirements. Also, sportsbooks frequently limit customers to certain leagues and bets, most often game results that are hard to predict and bets that are more difficult to win. For example, some single-game point spread bets at certain odds values will be excluded, while hard-to-win parlays will be permitted.
- Casino Bonuses – They look great at first, but with a 20x-40x play-thru requirement, you’ll be unlikely to come out ahead. On top of that, many casinos restrict customers to games with high house edge, like slots. Casinos are unlikely to give away anything for free in the short-run. Know that any bonus, no matter how enticing, has been designed to maintain the house’s long-run edge.
Moreover, if you’re serious sports bettor looking for a positive return on your investment, we actually suggest skipping the bonuses altogether. This allows for maximum bankroll liquidity, and more flexibility with how and when you bet.
Similarly, if you’re a serious casino customer, forgo the welcome bonuses and go right to table games: this strategy offers you the best chances to capitalize in the long-term. If an account rep calls up to thank you for your business, only accept favorable rebates, gifts, or cash bonuses with no play-thru requirements or restrictions.
When to take Bonuses?
Though we generally advise against taking bonuses, particularly if you’re trying to generate positive ROI throughout a sports season, the following are a few times when you could take a sportsbook bonus:
- After your season of choice has concluded, eg. the NFL, College Football, or March Madness tournament.
- If the bonus is a rebate or other unrestricted cashback guarantee
- Gifts, perks, prizes, or other awards from a loyalty or VIP program that don’t come with any terms and conditions that affect your bets or bankroll.
Similarly, here a few instances where taking a casino bonus is advisable:
- Generous weekly or monthly rebate with favorable terms, typically 8%-10% cash back or more.
- Invitation to join a VIP program that includes access to games with more favorable rules, or VIP bonuses that have more player-friendly terms and conditions.
- Generous match play ($100+) that can be used with table games like Blackjack, Baccarat, or Craps and no other play-thru requirements.
- Free Spins with cash prizes.
Sports Betting Resources
- How to Read Sports Betting Odds – Our helpful tutorial explains what the numbers mean for point spread, moneyline, total, and Asian Handicap bets.
- Sports Betting Questions and Answers – Common sports betting questions and answers, a simple quick reference for beginners.
- Sports Betting vs Casino Gambling – Learn how sportsbooks and casinos make money, and the important differences between each business model.
- How to Read NFL Odds – Short and sweet guide to NFL point spreads, totals, and moneylines. We’ve got live example bets from upcoming NFL matchups.
- Point Spread Bet – Understanding the point spread is key to betting on football and basketball. Learn how the point spread bet works with our tutorial video and text.
- Over-Under Total Bet – Bet over or under the sportsbook’s line. We explain how to place this bet with easy examples, a video, and text explainer.
- Moneyline Bet – Whether it’s a 2-way or 3-way moneyline, we’ve got you covered. Moneylines are available for almost every major sport league, including football, basketball, baseball, hockey, soccer, tennis, and combat sports.
- Teaser Bet – A teaser is a modified parlay that lets you buy points to shift point spread and total lines in your favor. Our fun tutorial video and detailed text article explain how to place this bet.
- If Bet Win-Only – Sequence multiple bets together in an if-then sequence. Your next bet only sees action if the previous one wins. Ideal for bettors with small bankrolls.
- Futures Bet – We explain what a futures bet is, how it works, and when to bet on a future sporting event. Common futures bets include the winners of the Super Bowl, Final Four, Stanley Cup, World Series, and NBA Finals.
- Parlay Bet – Combine multiple selections into one bet that returns a huge payout if all your selections were correct. We explain how parlay bets work and provide common parlay payout tables.
- Progressive Parlay Bet – Also known as a “Close Call Parlay”, this parlay variant can win even if one or more of selections lose. Our article describes this bet in detail.
- Parlay Card Betting – Parlay cards are issued by major sportsbooks midweek, allowing bettors to make multiple point spread, total, and prop bet selections that can return big payouts. Not to be confused with an “off the board” parlay!
- Prop Bets – We explain what a prop bet is, how to place a prop bet, and provide an expansive list of sports leagues with plenty of props to bet on right now.