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If you’ve arrived at this page, you’re probably interested in finding the best online sportsbooks available in your state. But with so many sportsbooks out there, how do you decide which one to choose?

One of the most important factors to consider when choosing an online sportsbook iis the sign-up bonus. In this comprehensive guide, we will discuss everything you need to know about online sportsbook sign-up bonuses and how to take full advantage of them.

What Are Sign-Up Bonuses and Why Are They Important?

A sign-up bonus, also known as a welcome bonus, new player bonus, or sportsbook promo, is a type of incentive that online sportsbooks offer to attract new customers. These bonuses come in various forms, such as bonus bets, deposit matches, or second-chance bets. Sign-up bonuses are important for several reasons.

Virtually all legal online sportsbooks offer a sign-up bonus in some form. Let’s take a look at the most common types of welcome bonus promos you’ll find among the mobile sports betting apps recommended by Betting Hero:

Types of Sign-Up Bonuses

As mentioned earlier, sign-up bonuses come in different forms. The most common types of bonuses include free bets, deposit matches, and risk-free bets. Let’s take a closer look at each one.

Bonus Bets

Bonus bets are a popular type of sign-up bonus in the sports betting industry. As the name suggests, bonus bets allow players to place a bet without risking their own money.

For example, a sportsbook might offer a $10 free bet to new customers who sign up and deposit a minimum of $50 in real money. If the bettor wins, they get to keep the winnings, but not the original bonus bet amount.

Keep in mind that if you win a wager with bonus bet credits, you only get to keep the winnings. For instance, let’s say you bet $100 in bonus bet credits on an even money bet, and you win.

You get to keep the $100 in winnings from the bet, but not the original $100 bonus bet credit.

Deposit Match

Deposit matches are another popular type of sportsbook promotion. With this bonus, the sportsbook matches a percentage of the player’s first deposit up to a certain amount.

For example, a sportsbook might offer a 100% match up to $100. This means that if a new player deposits $100, they will receive an additional $100 in bonus bets, making their total balance $200.

Second Chance Bets

Second-chance bets are one of the most popular bonus types at online sportsbooks. This bonus type can have many different names (like risk-free bet, losing bet rebate, “No Sweat” bet, and several other similar terms).

Losing bet rebates are a unique type of sign-up bonus that offer a safety net to new players. With this bonus type, the sportsbook will refund the bettor’s stake if their first bet at the sportsbook loses.

For example, FanDuel Sportsbook frequently offers a $1,000 “No Sweat First Bet”  bet to new customers who sign up and place their first bet. If the bet loses, the sportsbook will refund the amount of the bet, up to a max of $1,000.

How Can I Find The Best Sports Betting Promotions?

The sportsbook promos on this page are handpicked by the sports betting experts here at Betting Hero.

You can unlock each bonus by signing up for a new sportsbook account with the links on this page. Some sportsbooks will require you to enter a promo code at some point during the sign-up process.

Check back with this page often for the latest updates and best sportsbook promotions available to Betting Hero customers.