Colorado online sports betting kicked off on May 1, 2020. There are 16 licensed Colorado online sportsbooks. Most offer sign-up bonuses including free bets and deposit bonuses that lure players to their sites instead of their competitors. Each has its own set of terms and conditions, and we cover them below so you can find the best deal for your level of activity.

If the bonus offer is strong, players should do all they can to get the maximum amount possible. For instance, if the sportsbook is offering a 50% match bonus up to $1,000, bettors should try to deposit $2,000 to receive the max bonus of $1,000. Rollovers On Online Sportsbook Bonuses. Legal to Bet Online In: Sign Up Offer: Other Bonuses: WSN Bonus Codes: DraftKings: Colorado, Indiana, Iowa, New Jersey, Pennsylvania, West Virginia, New Hampshire, New York, Tennessee: Risk-Free Bet up to $500: Deposit Bonus up to $500; Refer a friend offer $100; Daily Free to Play Pools: No code – use links: William Hill: New Jersey. For example, betting sites might offer you a 100% cash bonus if you sign up for a new account. That means it will give you 100% of the amount you deposit in the form of a free bet. Have the chance to score up to $50,000 cash, plus the ultimate Owners Race Day experience in The Ladbrokes Lounge at The Valley with nine of your mates! Terms & Conditions. Ladbrokes All-Star Mile Competition - Win up to $50,000. ALL STAR MILE COMPETITION terms & conditions.

**Some of the products featured here are from our partners who compensate us. This does not influence our evaluations. Our opinions are our own. All bonus and promotions have Terms & Conditions that apply. 21+ for legal online gambling sites. If you think you have a gambling problem, please call 1-800-522-4700.

Best Online Sports Betting Bonuses In Colorado

While most Colorado sportsbooks offer bonuses, some are notable for new bettors. Here are the eight best welcome bonuses in Colorado:

• William Hill – Claim A $500 Risk-Free Bet
• BetRivers – Claim A $250 Deposit Bonus with 100% Match
• FanDuel – Claim A $1,000 Risk-Free Bet
• SportsBetting.com – Claim A $150 Deposit Bonus
• BetMGM – Claim A $500 Deposit Bonus – Use bonus code SHARP
• PointsBet – Claim A Two Risk-Free Bets, up to $1,500 – Use bonus code BIGBONUS
• DraftKings – Claim A $1,000 Deposit Bonus with 20% Match
• FOX Bet – Claim A $500 Risk-Free Bet

Online Sports Betting In Colorado

William Hill Colorado

Bonus: $500 Free Bet

Claim Bonus: Willaim Hill $500 Free Bet

Defense Dollars: Wager $50 or more on the pregame or full game spread on the Washington Huskies vs. Oregon Ducks game. Earn a free bet for your team’s defense:

• $1 per sack
• $2 per fumble recovery
• $3 per interception
• $7 per defensive touchdown
• $10 per safety

Remember, the risk-free bet must be used within seven days from the date it’s awarded. Don’t let that free bet go to waste!

BetRivers Colorado

Bonus: 100% up to $250 Deposit Match

Claim Bonus: BetRivers Sportsbook Bonus of $250

Colorado became the fourth state BetRivers launched in after Pennsylvania, Indiana, and Illinois. (It launched in Iowa shortly afterward, too.) BetRivers is owned by Rush Street Interactive, the same company that operates SugarHouse Online, but Coloradans won’t get access to that site. BetRivers has a number of loyalty perks and rewards to Colorado sports bettors and is offering up to a $250 match for deposits through our exclusive link. BetRivers will match each dollar bettors deposit with a site credit up to $250. Bettors also have to use that money to bet, with BetRivers releasing one site credit for every dollar in wagers. It has the best rate of reward among Colorado deposit bonuses. But it’s far from the largest.

FanDuel Sportsbook Colorado

Bonus: $1,000 Risk-Free Bet

Claim Bonus: FanDuel Sportsbook $1,000 Risk-Free Bet

FanDuel is another licensed daily fantasy sports company that entered thelegal sports betting industry in Colorado. You receive $5 in your account immediately upon signing up. You’ll receive another $5 upon making a deposit. FanDuel’s main welcome bonus is its $1,000 risk-free bet. You’ll receive a free bet for your first wager’s amount. If it loses, your account is reimbursed for the losses, up to $1,000. Winnings are eligible for cashout, but the site credits cannot be withdrawn.

SportsBetting.com

Bonus: $150 Deposit Bonus

Claim Bonus:SportsBetting.com $150 deposit bonus

SportsBetting.com launched in Colorado after partnering withJohnny Nolon’s. SportsBetting.com offers a 100% up to $150 deposit bonus for new customers.

Bonus: $500 Deposit Bonus

Claim Bonus:BetMGM Sportsbook $500 Deposit Bonus – Use bonus code SHARP

Bet MGM is operated by MGM Resorts out of Las Vegas. It offers a risk-free bet up to $500. However, bettors must use their first bet to take advantage of this bonus. If bettors lose their first bet, then BetMGM will add risk-free bets to bettor accounts. If bettors wager $49 or less, they’ll get one risk-free bet that’s equal to their first bet. If bettors wager $50 or more, then bettors will get five risk-free bets that are each worth a fifth of their first bet. So, a $500 losing wager would get bettors five $100 risk-free bets. It’s a little confusing, but the bottom line is bettors will get their losing stake back in the form of risk-free bets.

PointsBet Colorado

Bonus: 2 Risk-Free Bets up to $1,500

Claim Bonus: PointsBet Sportsbook $1,500 Risk-Free Bets – Use Bonus Code BIGBONUS

PointsBet offers a little something different-a dual risk-free bonus bet offer. New accounts can receive two risk-free bets, one up to $500 on a fixed-odds bet, and $1,000 for PointsBetting. PointsBetting is a spread bet which allows bettors to wager on how much their team will cover the spread by. The reward multiplies depending on how far over the threshold your team is when the game concludes. If you can guess how much you’ll win, you can be rewarded exponentially. But it’s a tricky bet. Best of luck if you attempt it.

DraftKings Sportsbook Colorado

Bonus: 20% up to $1000 on deposit.

Claim Bonus:DraftKings Sportsbook Bonus of $1,000

DraftKings is best known in Colorado as a legal daily fantasy sports site. It’s been a licensed daily fantasy site in Colorado since 2016. Now you can bet on sports through DraftKings’ app and website.

New DraftKings sportsbook players can earn up to $1,000 in deposit bonuses. When making a deposit, bettors can earn $1 in site credits for every $5 they deposit, up to $1000. That means a $5,000 deposit would receive the maximum bonus. However, DraftKings also has a playthrough requirement. Bettors get $1 in site credits for every $25 they ager after depositing. Bettors have 90 days to meet the playthrough requirement to maximize this bonus. You’ll be rewarded in proportion to how much you deposit and wager, so make your first deposit and subsequent bets count!

Additional terms and conditions apply.

FOX Bet Colorado

Bonus: $500 Risk-Free Bet

FOX Bet offers new players a $500 risk-free bet on their first wager. However, it’s only good for your first wager, so make sure you don’t miss it. Bettors must place a bet on a line with odds of -200 or more to qualify. If you lose, you’ll get site credits that match your stake up to $500. If you win, then congratulations. Enjoy your winnings.

BetMonarch

Bonus: None available

BetMonarch is the first homegrown sportsbook to launch in Colorado, both owned and operated locally. The new app launched in May 2020, about a week after Colorado legal sports betting went live. As the name suggests, BetMonarch is attached to the Monarch Casino in Black Hawk, and bettors will also be able to place bets at the retail sportsbook in person once Colorado casinos reopen.

SBK

Bonus: None Available

SBK is an online sportsbook from Smarkets, a European sports betting company based in the UK. SBK launched on June 4 and gets its odds from its betting exchange overseas. That means that SBK’s odds are particularly competitive. But Colorado sportsbooks that offer bonuses or boosts can have better odds on certain lines than SBK.

Sky Ute Sportsbook

Bonus: None Available

Sky Ute Sportsbook is the online sportsbook from the Southern Ute Indian Tribe. Sky Ute Sportsbook launched on June 9 and is currently not offering a sign-up or deposit bonus.

Circa Sports

Bonus: None available

Circa Sports is an online sportsbook that started in Las Vegas at the D and Golden Gate. Colorado is its first online sportsbook outside of Nevada and promises to have high limits and great odds.

BetWildwood

Bonus: None Available

BetWildwood is an online sports betting site operated by Wildwood Casino. It offers no welcome bonuses and tends to have low odds compared to its competitors.

theScore Bet

Bonus: $1,000 Deposit Bonus with 5% Cash Back + $500 Risk-Free Bet

theScore Bet offers two welcome bonuses: the $1,000 deposit bonus and the $500 risk-free bet.

The deposit bonus rewards bettors for their first deposit, up to $1,000. But to unlock that bonus, bettors need to wager. Bettors get 5% cash back on every wager for 60 days to slowly unlock the cash bonus they earned from their first deposit. That means to get the full $1,000, bettors must:

• Deposit $1,000 on their first deposit.
• Wager $20,000 in 60 days.

Long story short, bettors will be rewarded in proportion to their play.

theScore Bet also offers a $500 risk-free bet. theScore Bet refunds your first bet if it loses for the amount bettors wagered, up to $500.

Elite Sportsbook

Bonus: $500 Risk-Free Bet

Elite Sportsbook is partnered with Red Dolly Casino. They are offering first-time users a $500 risk-free bet of up to $500 on their first bet. With a risk-free bet, the first bet is the one to go big on.

Betfred Sports

Bonus: $500 Risk-Free Bet

Betfred is a European operator that partnered with Saratoga to launch its online sportsbook in Colorado. Betfred is an official partner of the Denver Broncos and offers new players up to $500 risk-free bet when they sign up.

Superbook Sportsbook

Bonus: None Available

Superbook is a recent Colorado entrant that promises bonuses soon. Colorado is its first state after Nevada, and it’ll be heading into New Jersey next.

Colorado Sports Betting Sites Launching Soon:

888 Sportsbook

888 Sportsbook isn’t here yet. But when it is, it offers a $500 risk-free bet. However, that could change for Colorado before launching.

Bet365

Bet365 is a maybe, too. However, if it comes to Colorado, bettors would be able to claim a $100 first deposit bonus. It’d be the smallest deposit bonus in Colorado at that rate.

BetAmerica

BetAmerica is best-known as a horse racing betting company. It is owned and operated by Churchill Downs. It has been licensed in Colorado in the racing industry for years. However, its casino bonus is more generous than its sportsbook bonus. New casino players get a $500 deposit bonus. New sportsbook bettors get what appears to be a $50 risk-free bet.

Barstool Sportsbook

Barstool Sportsbook is opening a retail location in Colorado, but the app isn’t live yet. When it is, bettors can claim a $500 risk-free bet.

Colorado Sports Betting Promotions

Existing users can take part in sports betting promotions offered at many of the Colorado sports betting sites. Deposit bonuses reward bettors for how much they deposit and wager. Risk-free bets refund losing bets with site credits.

However, bettors will find ongoing bonuses that offer small wagers on popular games. There’s lots to see, so bettors should keep an eye out for new promotions.

Deposit Bonuses

Deposit bonuses appear the most enticing. They reward bettors for how much they deposit upfront. Sportsbooks seem to know that bettors who deposit money will use it, so it makes sense for them to incentivize large deposits. Deposit bonuses are awarded at a rate expressed as a percentage. A 20% deposit bonus, like DraftKings’, awards 20% of a bettor’s deposit in site credits. So, a $100 deposit would earn $20 in site credits.

However, deposit bonuses often have playthrough requirements, too. Bettors need to actually use the money they deposit before unlocking their bonuses. theScore Bet awards 5% of a bettor’s wagers up to the amount they deposited upfront. That way, sportsbooks ensure bettors are actually wagering.

Risk-Free Bets

Ironically, risk-free bets require bettors to risk their own money upfront. Risk-free bets reimburse bettors for how much they lose on their first bet. The advertised amount is often the maximum bet that bettors can be reimbursed for in full. So, a $500 risk-free bet often means that bettors can lose $500 on their first bet, then get that money back in site credits. That’s the deal bettors can find at Fox Bet. However, bettors can’t withdraw the site credits. Bettors can only get their winnings in the bank. Since these bonuses are often only good for the first bet, new bettors often miss the chance to use them. Don’t be one of them. Plan the first bet carefully.

No-Deposit Bonuses

These are small, unremarkable bonuses that bettors receive upon sign up. However, these are in the form of site credits, too. They’re not free money for bettors to withdraw and use as they please. Bettors must use those credits to wager at their sportsbook or forfeit them. They’re usually not larger than $50, so don’t get too excited about them. Barstool Sportsbook offers a $10 no-deposit bonus for signing up, knowing they’ll win that money back over time. However, they can help new and nervous bettors try betting for the first time. Sportsbooks likely use these to lure the most cautious of new bettors in, hoping they’ll wager more after using these first site credits.

Ongoing Event Bonuses

These are other small bonuses that are tied to specific events. BetMGM offers a deal where bettors wager $50 on college basketball and get a $25 free bet for college football. Little bundles like these help spread bets over all the events sportsbooks need money on.

How To Claim Online Sportsbook Bonuses In State

Claiming bonuses tends to be straightforward. First, bettors have to find the online sportsbook app they want to wager at. That’s as easy as googling the website or searching the app store. Keep in mind that some brands have state-specific apps. If the Colorado app is available, choose that one. And don’t mistake a daily fantasy sports app for a sportsbook. They’re not the same.

After that, bettors must register for accounts. Creating accounts is similar to any other website. However, sportsbooks require part or all of a bettor’s social security number. That may seem strange to new bettors. However, it’s part of an identity verification step that all licensed Colorado sportsbooks must adhere to. No one wants to award money to money launderers, after all.

Once bettors are registered, they just have to fulfill the first terms of the welcome bonus. That could mean different things for different bonuses and sportsbooks. For example, DraftKings and theScore Bet both offer $1,000 deposit bonuses. However, they have different ways to unlock the full bonus. DraftKings requires a large deposit upfront followed by a 25:1 playthrough requirement. But theScore Bet only requires a 20:1 playthrough. That means earning the full deposit bonus requires $5,000 less at theScore Bet than at DraftKings.

But risk-free bets come with their own terms, too. Their terms often hinge on the first wager. That means planning to bet big later is a poor strategy for fulfilling those terms. Read up on bonus terms before wagering if you want to take advantage of them.

Once the terms are fulfilled, bettors will find the bonus in their accounts. That could be site credits for additional betting or risk-free bets worth redeeming. Bettors should check their accounts and betslips if they’re looking for the rewards they reaped from their sportsbook bonus.

Colorado Sports Betting Bonus FAQs

21. While daily fantasy sports players only need to be 18, sports bettors must be a little older. This staves off a potentially thorny legislative issue. The idea of high school seniors gambling online is unsettling, even to gambling supporters. Raising the sports betting age got around that and likely helped keep mobile sports betting out of high schools.

Yes. Because bettors create separate accounts at each sportsbook, they can claim each sportsbook’s bonus. However, they can only claim bonuses once. Each sportsbook account is tied to a social security number. It’s hard to fake two accounts. Even if bettors could borrow a social security number, sportsbooks would suspend that account if they suspected that it was the same person. Sportsbooks have massive sets of data to use to identify duplicate accounts. Fooling them isn’t as easy as bettors may think.

Each playthrough requirement can differ from sportsbook to sportsbook. However, most of them are associated with deposit bonuses. After fulfilling the deposit requirement for a deposit bonus, bettors often have to wager their money to unlock site credits. They can take the form of fixed site credits per dollar wagered or a percentage of wagered dollars. Bettors must understand each bonus to learn how they wish to fulfill their playthrough requirements.

Bonus abuse is using multiple accounts to benefit from bonuses multiple times. Sportsbooks anticipate a certain return-on-investment from their bonuses. They expect to spend a little money to retain bettors over their full customer lifetimes. But those calculations assume one bonus per sportsbook. Any more than that is theft.

As long as bettors aren’t creating multiple accounts to profit from different bonus terms, then they’re fine. They can create single accounts at multiple sportsbooks, but creating multiple accounts at any sportsbook will get them in trouble.

DraftKings Sportsbook offers a $1,000 deposit bonus at a 20% match rate. If bettors deposit $100, they can earn up to $20 in site credits. However, bettors also have to use the money to bet. DraftKings requires its bettors to play $25 to earn each $1 of site credit. In the $20 example, a bettor would need to wager $500 for the bonus credits. For the full $1,000, bettors would need to play $25,000. Bettors are rewarded based on how much they deposit and play. As long as bettors are wagering at the pace they’ll normally wager, they’re getting a fair value of the bonus.

FanDuel offers a $1,000 risk-free bet to its new bettors. If a bettor’s first wager loses, then they’ll get site credits back equal to their losing bet, up to $1,000. Betting big on the first wager may be a good value for bettors with cash to spare. However, site credits are not the same as winnings. Bettors can withdraw winnings from their accounts. They cannot withdraw site credits. Bettors can only use site credits for betting on FanDuel.

Sometimes. Some sportsbooks require bettors to use their bonuses on bets with certain odds. Colorado sportsbooks usually set the minimum odds around -200. That way, sportsbooks don’t lose too much money giving away bonus credits and paying additional winnings. Each sportsbook bonus has its own terms, but this is the most common one. Bettors have to watch for these on risk-free bets more than anywhere else. Otherwise, bonus terms should be largely clear.

Sportsbooks maintain consistent profits by offering players less than true odds on their wagers. But the “juice” is small enough that a savvy player can find ways to temporarily turn the book’s advantage on its head.

One of the most effective ways to do this, that doesn’t require advanced statistical modeling, arbitrage or chasing stale lines, is by taking advantage of promotional offers.

Unfortunately, brick & mortar books don’t exactly offer tons of promos. Not so online, where players can find a wealth of lucrative promos that run the gamut from free bets to deposit matches and bet protection. With Indiana now offering online sports betting, players from the Hoosier State now have plentiful opportunities to claim these offers, and by extension, rake in some extra cash.

Read on to learn all about how Indiana online sports betting sites are weaving in bonus codes, promos, and welcome packages as part of their offerings, and learn how promos work and which ones provide the best value.

Best Indiana sportsbook bonuses

$2021 Risk-Free Bet

• Use Code: HSBRF
• Competitive Pricing
• Win Big on Player, Game Props
• Most Experienced Bookmaker

$600 Risk-Free Bet

• Use Code: HSB600
• Tons of Promotions
• Fast Withdrawals and Deposits
• Good Media Integrations

Up To $1000 Risk-Free Bet

• Best Odds, Prices in Industry
• Tons of Props on 16+ Sports
• Speedy Withdrawals, Deposits
• Smooth, Sleek Design

$250 Risk-Free Bet

• +$20 No Deposit Free Bets
• Build Your Own Parlay Boost
• PayPal, Visa, ACH Banking
• Play on iOS or Android

$250 Bonus

Gambling Problem? Call 1-800-9-WITH-IT. Playable only in Indiana. Must be 21+

• Easy to Obtain, Generous Bonus
• Simple Withdrawals, Deposits
• Unmatched Loyalty Program
• Excellent Teaser Pricing

What are promo codes are how are they beneficial?

Sometimes, in order to receive an offer, players must opt-in through the use of a special promo code (or bonus code). These typically take the form of a short word or phrase, and usually appear in all caps, “WELCOME50” or “BETNJ” being examples of what they might look like.

Sports betting promo codes are effectively coupons, except that instead of receiving a discount on a good or service, bettors win added monetary value. The most common use of a promo code is upon first registering for an online sportsbook. Most, if not all, books even integrate a promo code field into their registration forms. Here’s an example of one found at BetRivers, a legal online sportsbook in Indiana:

By entering a promo code at signup, players will earn one of the most valuable promotions they’ll ever receive at a sportsbook: the welcome package. This is often worth hundreds of dollars in added value, and should not be missed. Of course, players could just use a promo code provided by the online sportsbooks. However, our sites, and sites like this, are sometimes able to provide exclusive promo codes where the bonus amount exceeds that offered to the public.

One final note: Sometimes players looking for a bonus have an “either/or” option, meaning they can either use a promo code found on this site, or just sign up through one of the links found on this page, negating the need for a promo code. In either case, a first deposit will still generally be necessary for players to receive their full welcome package.

Indiana online sports betting bonuses: Who is eligible?

In any legal U.S. sports betting environment, there are eligibility parameters that must be adhered to, and the Indiana market is no exception. Luckily, they’re not too stringent.

Before receiving any sort of bonus in your account, you must successfully complete the registration process, and in order do so you must:

• Be of legal casino gambling age: In the state of Indiana, you must be at least 21 years of age to register an account. We do realize that most forms of gambling in the state, like pari-mutuel wagering, only ask that players be 18 years old, but sports betting is linked to the state’s casinos, and abide by the same age requirements.
• Prove your identity: Every account registration will be subject to a stringent verification check, put in place by the Indiana Gaming Commission. At minimum, this means supplying your full name, address, and the last four digits of your Social Security Number. If everything is in check, then your application will be approved and verified seconds after hitting “Submit”.

In addition to this, remember that in order to place wagers on a licensed Indiana online sportsbook, you must be physically located in the state of Indiana, and must be able to prove as much by having your location successfully geolocated via 4G or WiFi. That is not to say you have to be located in Indiana to register an account, check lines, or make a deposit — that can be done from anywhere.

Also, there is nothing in the law stating that players that don’t hold residence in Indiana are forbidden from using Indiana sites, meaning tourists to the state are free to place wagers, pending they meet the eligibility requirements.

What’s the catch with bonuses offered by IN online sportsbooks?

Just like any other for-profit operation, online sportsbooks are in the business of making money. So why would they throw hundreds of dollars at new players when it’s unknown if those players will stick around for more than a few bets?

In short, it’s a calculated risk that the books are willing to take. Remember, bonuses aren’t free money, so players can’t just claim the bonus and withdraw immediately. Instead, they’re going to have to give the book some action. How much action is dependent on the offer, with some books taking massive risks by enticing players with extremely easy to clear and lucrative offers, and others mitigating risk via more stringent terms and conditions.

The hope for the books is that you’ll sample the product, enjoy it and stick around long after your bonus funds are unlocked. Worst case scenario, the online sportsbooks now have you in their database and can market to you via email until you specifically tell them not to.

Therefore, promotional offers act as a sort of win-win for the operator and consumer. A real-life example: BetRivers in Indiana offers an extremely generous 100% match up to $250 to all new players with a scant 1x wagering requirement. The advantage for the operator is that it got a new player to sign up, which they can now market to via other, less lucrative (but still decent) offers in the future, and who might roll the dice on games regardless if there is a promo running or not.

On the flip side, players get the opportunity to turn the house edge on its head right out of the gate and will have ample opportunity to do so again throughout their life span on the book.

Indiana online sportsbook welcome bonus offers

We’re already seeing a variety of promotional offers on Indiana online sportsbooks, and based on what we’ve witnessed from similar (or equivalent) books in other markets, we can ascertain the full-breadth of welcome bonuses Indiana players can expect to see going forward.

Betting Offer Online

Here’s what to expect, with an evaluation of how generous each offer type is:

No-deposit

No-deposit bonuses are the easiest bonus types to understand. They also incur the least amount of risk on the player since, as the name implies, bettors won’t have to make an upfront investment to claim this offer. The only requirement in most cases is that players successfully register an account with the online sportsbook. Do so, and the bonus is yours.

This is about as close to a handout as a bettor can expect. However, there are usually terms and conditions attached to no-deposit bonuses. For one, bettors simply cannot cash the funds out. Instead, they’ll have to use them on the site. More generous books will only require that players bet the no-deposit funds one-time before cashing out, others might require a 5x or 10x playthrough, or might insist that the funds not be cashed out until a qualifying deposit is made. As always, read the fine print.

Also, no-deposit bonuses tend to be much smaller than other bonus types, ranging from a few bucks up to about $30 – $50, with the higher sums usually attached to exclusive offers found on sites like this. No-deposit bonuses also expire, and often enough, the window for players to use these funds is smaller compared to other bonus types. Typically, players will have only about a week, but sometimes up to a month or longer to meet the wagering requirements of their bonus.

Regardless of the fine print, no-deposit bonuses should never be glossed over, as it’s impossible to lose money on them. Take advantage.

Free bets

Free bets are certainly one of the most common new player promos utilized by online sportsbooks, in Indiana and elsewhere. The concept is simple: bettors get to make a wager on the house, and any winnings from those wagers are immediately awarded as cash. Notice, we said “any winnings” as the original free bet amount is not cashable.

For instance, if a player is awarded a free bet of $200, and they wager it on Houston to win the World Series at +200, they would receive $400 for a winning wager, not $600 as if they used their own funds.

Free bets are handed out in a couple of different ways:

• Matched free bets: This one is common. A player will wager a certain amount, and receive a free bet of an equal or lesser amount. For instance, a promo might award a $500 free bet if the player places a $500 wager first. Look out for this very generous promotional type when a site first launches.
• No-deposit free bets: Instead of awarding players bonus funds for registering, an online sportsbook may offer players free bet wagers. They’re essentially the same thing, except free bets are almost always subject to just a 1x wagering requirement. No deposit bonuses could see 1x, but also 5x or more.
• Deposit matched free-bets: Similar to matched free bets, except the player receives a free bet just for registering. The amount of the free bet is usually low, since this option doesn’t require the bettor to make any upfront wagers.

Free bets usually have some restrictions affixed to them. Primarily, players may be forced to bet only on select markets at odds greater than -200 or -300 (+200 would be OK, -400 would not). Additionally, free bets usually have expiration dates. That being said, this is still one of the better promotion types from the player perspective.

Risk-free wagers

Risk-free wagers sound great, but they’re really just lesser versions of free bets. Unfortunately, as the legal U.S. industry matures, this promotional type is becoming more and more common, especially as part of new player packages.

How it works is players who make a deposit, and lose on their first wager, will receive a refund of the amount of their wager, up to a certain amount. So a $500 risk-free bet offer will award up to $500 if the bet loses. The problem here is apparent: Players who win their first bet don’t receive anything (beyond their winnings of course). This lies in stark contrast to free bets, where the bet is delivered win or loss.

Risk-free wagers are still decent, but they have about half the expectation of a similarly worded free bet.

Deposit matches

Deposit matches are exceedingly popular among online casinos and are gaining headwind in the online sports betting industry as well. How these work is relatively simple: Players deposit a certain amount of money, and the book matches this amount (either fully or partially) via a bonus.

Match bonuses are easy to recognize because they always follow a similar format of “x% up to $xxx”. For instance, if a book offers a 50% match up to $250, that means for every dollar players deposit, they’ll receive 50% of that as a bonus. So a $100 deposit will yield a $50 bonus, a $500 deposit a $250 bonus, and so forth. Note that because the bonus is capped at $250, $500 dollars is the optimal amount to deposit, as deposits above $500 will yield the same $250 bonus.

How good or bad a deposit match is depends on a variety of factors. Most important is the wagering requirement, which is the number of times a player must wager their bonus before it is converted to cash. For instance, a 1x wagering requirement, like the one offered by BetRivers Indiana, is awesome, because once the bonus is wagered one time ($250 in wagers on a $250 bonus), the money can be immediately withdrawn. By contrast, DraftKings imposes a hefty 25x playthrough requirement on its $1,000 match bonus, offered to new players. That’s rough.

Other factors to look out for are the match percentage, with the higher the percentage the better. The gold standard is usually between a 50 – 100% match, but some books have been known to go as high as 200%, and DraftKings Sportsbook has gone as low as 20%. The monetary cap is also important, with $500 being about average, and $1,000 exceptional. Also, be sure to check if there are expiration dates: deposit matches often expire after a certain period of time has elapsed — sometimes as short as a few days.

Bonus Bet Offer Bet365

Super (duper) boosts

Every now and again, books will offer new players ridiculous odds on an event, like 100-1 on a team winning a game when the true odds are 1-1. Of course, the amount bettors can wager on these super boosts is usually limited to about $5, with winnings paid out in bonus wagers.

In the outlined scenario above, the new bettor will either win a $500 free bet or lose the initial $5. The pro is that players don’t have to make a big bet to claim a big bonus. The downside is that they’ll lose approximately half the time.

Breaking down promotions at IN online sports betting sites

In addition to welcome bonuses, Indiana online sportsbooks often offer recurring and one-off promotions to returning players. All of the promotional types utilized for welcome packages can also show up as returning player promos, as well as the following:

Cashback bonuses

This is a common one, and one loved by operators because it entices players to plunk down bets they might not otherwise make. It’s also a solid benefit for bettors, who have some insurance if they lose.

How this one works is the book will advertise a wager, encouraging players to make a particular bet, like who will win Game 3 of the World Series. If the bet wins, the player gets paid as usual. However, if it loses, they’ll receive a portion of their wager back as cash or a bonus bet. In this respect, cashback bonuses are pretty similar to risk-free bets, except that instead of getting 100% back (risk-free), only a portion of the losing wager is returned, say 20% or 50%.

Obviously, getting cash returned is better, but it’s more common to receive the funds as a bonus, which can be wagered on most events, and where only the winnings are returned to the player.

Discounted juice

No one likes high vigs. Just the difference between a -110 and -115 line where the true odds are 50/50 can have a damaging impact on a player’s bankroll. Luckily, some books offer promos where they actually lower the juice. Sometimes, they won’t charge any juice at all.

Look out for this kind of promo during special events, like the kickoff of the NFL or NBA seasons, or even March Madness. If you see the point spreads and totals listed at -105 or +100, it means the book is actively pushing to get players to bet on these markets, and that’s good news for you.

Loyalty programs and VIP bonuses

The difference between a book that offers a loyalty or VIP program versus one that doesn’t can be monumental, especially for frequent players.

Take a site like BetRivers in Indiana for instance. Players earn iRush Rewards points simply for making sports bets, which can be exchanged for bonus money with a scant 1x wagering requirement. Not to mention, players that climb the loyalty tiers (also accomplished for placing wagers), will open up a bevy of goodies, including their own VIP manager, birthday gifts, special promotions, swag, free playing devices, and much more.

Another beautiful aspect of online sports betting loyalty programs is that they are often tied to brick & mortar accounts. So those points you earn for playing online? They can be spent at a partnering casino. Or the online sportsbook may simply offer to set you up with meals, entertainment packages, and rooms at one of its casino resorts, no questions asked.

Now compare this to a book that doesn’t offer a loyalty program, and it’s pretty evident how stark the difference is. That’s not to say all loyalty programs are as good as iRush Rewards, but even mediocre loyalty programs kickback about 10% of a bettor’s theoretical loss in cash, gifts, and other luxuries. Great ones may return as much as 40-50%.

Indiana offers a fair climate for sports betting operators, with very reasonable tax rates — so we expect books to respond by being more aggressive in their promotional offers and loyalty kickbacks.

Referral bonuses

Thanks to referral bonuses, players are incentivized to tell their friends about their favorite sportsbook. But telling them won’t be enough, as first, the referring player must already be signed up with the book. Then, the referred bettor can point back to the referrer’s username (or a uniquely generated code tied to that username) at the time they sign up.

Usually, both the referrer and referred played will receive modest bonuses in the vicinity of $20 – $50 once the process is complete, and any other terms & conditions have been met. As for those terms, the most common one is that the books may require both parties to place $x amount in wagers before receiving their referral bonus.

How to eliminate the house edge through bonuses at Indiana online sportsbooks

• Read the fine print: Reading the terms is the single best way to determine if an offer is favorable or not. With the tips outlined in this guide, you should know exactly what to look for in terms of wagering requirements, restrictions, and other caveats tied to a bonus offer. For wagering requirements, a 20x turnover is OK, 10x is good, and 5x or lower is great. And remember, an offer with tons of fine print isn’t necessarily bad.
• Free bets are better than risk-free bets: A risk-free bet actually does carry some risk, in that the requirement for receiving it is to first lose money. On the contrary, free bets are awarded simply by placing wagers, or sometimes, for doing nothing. Free bets are the better choice. But in either case, remember that only the winnings from free bets, and not the initial bonus amount, will be allocated to your account if your bet hits.
• Don’t dally: All bonus offers come affixed with an expiration date, and these dates vary widely. By letting a bonus expire, you’re essentially burning money. If you don’t think you’ll have the time to fulfill a bonus requirement, you’re better off not opting in at all.
• Stack promos: Whenever possible, combine two or more promos together for maximum value. For instance, if an Indiana online sportsbook is offering -105 lines, and 50% insurance on an event, this is way more lucrative than either promo individually.
• Maximize value through research: Sometimes, a book will offer kickbacks based on a certain event happening. For instance, a promo may offer a $10 bonus for every home run an MLB team hits, in so long as you place a $50 money line wager on that team. In this case, it would benefit you to research stats like a team’s ability to hit home runs, how many home runs the opposing pitcher and bullpen give up, and whether the ballpark is pitcher or batter friendly. A little data mining can go a long way.
• Consult this website often for exclusive offers.

The point is you don’t need to be a math wizard or rely on advanced data modeling to win at sports betting — cleverly harnessing promo codes, bonuses, and promos is enough on its own. Will you make a killing using this method? No, probably not. But it’s enough to at the very least ensure that you hold on to your bankroll for much longer than you would have otherwise.

Bonus Bet Offers Australia

Let this site do some of the heavy lifting for you, by advising you frequently on promotional offers, but through our exclusive bonus codes and transparent Indiana sports betting site reviews.