NEWSLETTER
Sportsbooks will dish out betting offers to new users to entice them to register and start placing bets on their platforms. One of the most common types of offers is bonus bets. You get a bonus for registering and placing a bet. Can you withdraw these bonus bets? Let’s look at how they work.
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Sportsbook Bonus Bet Offers
Bonus bets can be given to new users in several ways but the most common is a bet and get offer. For example, you might see DraftKings give new users $150 in bonus bets for placing a $5 wager as a new user. Most of the time, these bonus bets are divided into smaller bets. You might get six $25 bonus bets that you can use in your account. After adding a bet to your bet slip, you can select “bonus” and apply a bonus bet.
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Can I Withdraw Bonus Bets?
With most sportsbooks, you cannot withdraw the bonus bets. These are just bonuses in your account that can be applied to wagers in your bet slip. The money doesn’t go into your sportsbook account.
Let’s say you sign up for the DraftKings promo code offer. You make a deposit of $10. You then bet $5 to earn your $150 in bonus bets. Your sportsbook account will have $5 in it because you used $5 of the $10. It will not have $155. The $150 in bonus bets will be located in your bet slip and can be used for a wager.
When you add a bet to your bet slip, you can click on a “bonus” button that will reveal what bonus bets you have available. You then will be able to apply a bonus bet. Keep in mind. You will not get the bonus back if you win. You will only claim the winnings. So if you use a $25 bonus bet to wager on +100 odds. You would receive a payout of $25 instead of $50 because you aren’t getting the initial stake back.
Rollover Requirements for Deposit Bonuses
There are also deposit bonuses. A sportsbook might have a 100% deposit bonus match up to $1000. If you deposit $1000, you get $1000 in bonus cash. This can be applied to your sportsbook account but it also cannot be immediately withdrawn. You have to hit the rollover requirement. This is a certain number of bets or amount of money you need to win to unlock the funds for withdrawal.
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