Sports betting websites or sportsbooks attract new players and encourage existing ones to keep betting at their site by providing sportsbook bonuses which could boost players’ chances of winning. Below you will find our list of the best sports bonuses in Canada and more information about the different types of sports bonuses.
What are Sportsbook Bonuses?
The term “bonus” refers to any amount of money added to your betting account after the first deposit. In some cases, you can also receive a sportsbook bonus before you even make the first deposit. Bonus is one of the most useful words in the English language and sports bonuses are widespread in the world of online gambling.
And in the world of sportsbooks, it usually translates into extra funds just for opening an account, placing a bet, or making a deposit. Since the creation of the internet sportsbook industry, bonuses have been a part of it. And they have evolved over time. The fundamental idea remains: give bettors a prize for placing their sports wagers.
The finest sportsbook bonuses are online versions of casino comps, which are incentives designed to attract new clients and keep existing customers coming back.
Comps (short for “complimentary”) are free things given away in a land-based casino, such as hotel rooms or room upgrades, show tickets, or free meals.
But with every betting site giving away bonuses, how can you choose the best sportsbook bonuses in Canada?
Sportsbook Bonuses in Canada
Sportsbooks create different incentives to attract new players and reward existing customers with greater wagering amounts. Unlike government-run lotteries, they may establish various betting offers to entice new users and provide better wagering rates. That is why there is no need to pass up the many sports betting sites bonuses accessible in Canada, thanks to the wide range of different betting sites available.
You will discover a wide range of bonus offers accessible, including American football betting specials, the most recent and exciting eSports betting, as well as an emerging sector that you should monitor.
How Do Sportsbook Bonuses Work?
A sportsbook bonus is usually in the form of bonus money, free bets, or risk free bets, which we will get into below. Although the terminology on sports betting bonus offers is homogeneous the conditions attached to them can vary widely. Therefore, the mechanics of each betting bonus can be very different.
Before accepting any bonus offers, it is critical to read the bonus terms and conditions because each bookmaker or gambling site has its own policy. Sports Betting bonus offers usually have the following important terms attached to them:
- Time restriction
- Qualifying deposit
- Deposit Match bonus percentage
- Qualifying bet
- Minimum Odds
- Maximum bonus amount
- Wagering requirements or rollover requirement
- Promo code
- Legal gambling age
- Other restrictions
Sportsbook Bonuses and Requirements
Continuing with the list presented above, let us take a look at each of the conditions and explain in more detail.
Sports Bonus example: Bet $10 and get a $20 Free Bet
Requirements: Must place a single $10 bet on any NFL game this weekend. The minimum odds must be 1.5 (-200). Once the bet settles you will receive a $20 free bet. The free bet can be placed on any sports market, at minimum odds of 1.5 (-200). Free bets cannot be cashed out. If the free bet wins, you will receive the winnings but the free bet stake will not be returned. The free bet is valid for 7 days.
If we take a closer look at the above bonus, we will see that there are the following terms attached to the bet:
- Time Restriction: The free bet is valid for 7 days
- Qualifying Bet: Must place a single $10 bet on any NFL game this weekend
- Minimum Odds: Odds must be 1.5 (-200)
It’s also important to note that because the free bet is bonus money if the free bet wins, you will only receive the winnings but will not get the free bet stake.
Sports Bonus Example: Get a 100% Match Deposit Bonus offer up to $250
Requirements: Minimum deposit of $10. Max bonus is $250. Only valid on first deposit. Must use bonus code: FIRSTDEP. 6x wagering requirement. All bets placed with bonus money must be on minimum odds of 1.5 (-200). Bonus funds are valid for 30 days. If wagering requirements have not been completed within the specified time limit, the bonus funds and any sports bet winnings will be forfeit.
This bonus has many of the same restrictions as the free bet bonus but there are also some new terms included since this is a matched deposit bonus and not free bets. We will only note down any new requirements.
- Qualifying deposit: Only valid on the initial deposit and must be at least $10
- Deposit Match percentage: Since it is a 100% deposit match the betting site will match your deposit amount and double it
- Promo code: You have to input a promo code in order to get the bonus
- Wagering requirements: There is a 6x wagering requirement. This means you need to wager the bonus amount 6 times before it converts into real money.
Now let’s go into each potential condition in more detail so that we can fully understand the implication of each type of bonus.
Most sports betting bonuses have some kind of time restriction on them. This can either be the time validity of the promotion itself or the time limit you have to use the bonus funds or free bets before they expire.
Many bonuses require that a certain amount must be deposited in order to qualify for the bonus. This is most common with matched deposit bonuses. It is also important to note that not all payment methods may qualify for a deposit bonus.
Deposit Match bonus percentage
The sportsbook site will also mention what percentage of the deposit amount they will match as a bonus. This varies anywhere between 50% – 250%.
Much like the qualifying deposit amount, some bonuses require that you place a qualifying bet to get the bonus. This is most common with free bets and risk free bets.
If there is wagering involved or a qualifying bet requirement, then there will always be some kind of minimum odds requirement. This is usually quite low but can range between 1.5 (-200) to 2.0 (100).
Maximum bonus amount
Sometimes the gambling site will specify the max bonus amount they will award to a customer. This is usually connected with a deposit bonus amount.
Wagering requirements or rollover requirement
The rollover requirement represents the amount you will need to wager in order to convert your full bonus award into real money. Assume your initial deposit is $100 to your betting account and the bonus is 100% with a 5x wagering. This means that you will need to wager Bonus Amount x 5 in order for it to convert into real cash. This would be $500. Once you have wagered the amount it will become your own money and can be withdrawn.
Sometimes you will need to input a bonus code in order to receive some bonuses. It is important to note whether you need to put the code before or after your deposit.
Legal gambling age
Always make sure that you meet any age requirements before you gamble. The restrictions differ in different parts of the country. And it also depends on if you are gambling online or at a brick and mortar casino.
We have tried to share the most common sports betting bonus terms with you however there are many others that gambling sites can include in their terms. It is always important to read the terms and conditions thoroughly before taking a sports betting bonus. This is the only way to find out whether the bonus is worth it or not.
How can you find the Best Sportsbook Bonuses?
The answer to that question is determined by you, the sports bettors, and your preferences. There are a variety of online betting bonuses available in Canada’s online casinos and bookmakers. The prominent ones are SugarHouse online casino, the Score, RushBet casino, and BetRivers. Over the years, as gambling in the country expanded and became more acceptable, online sportsbooks and casinos began offering a variety of sports incentives to place different types of sports bets.
Let’s go through the different types of offers given by betting sites and see which ones are the best bonuses for you.
Sign Up Bonus
Bonuses given to new customers by gambling sites are referred to as a sign up bonus. It’s usually the largest and most advertised bonus at an online betting site, often plastered across banner ads. It is also a generic term for the different types of bonuses new players can receive once they join a betting site.
The purpose of the signup incentive – also known as a welcome bonus – is to encourage new customers to open an online betting account and give them something in return. The most popular reward type of welcome bonus is bonus funds, followed by free bets.
Welcome bonuses are designed to entice new customers and are frequently employed as a marketing tool by sports betting sites or online casino operators.
Also, some bookmakers use it to entice bettors to test out their betting markets so they might determine whether or not they would want to continue using them. Betting bonuses and free bets are two other ways in which providers may give out sign up bonuses.
Deposit Match Bonuses
The most popular bonuses on Canadian betting sites and online casinos are a deposit bonus. Users that make a deposit into their sportsbook account will be rewarded with a matching bonus amount.
Bettors will be paid a set percentage of their initial deposit, which is then added to their bankroll. As a result, online sportsbooks supply them with extra bonus funds so that they may win more. You get a percentage of your deposit as a bonus to boost your bankroll.
For example, if the sign up bonus is a 50% match bonus, this means whatever you deposit, you will get 50% of that amount as a bonus. If you deposit $100, then the bonus will be $50. If you deposit $50, the bonus will be $25.
The match rates may be anything from 25% to 200% of your qualifying deposit, depending on the online sports betting bookmaker. Many times the sports operators might even split the deposit match bonuses into multiple deposit offers and create a package. For example, a site may offer a $1,600 Welcome Package. When you read the bonus terms and conditions you will see that the $1600 bonus is actually split among the first 4 deposit amounts up to $400.
- First Deposit match 100% up to $400
- Second Deposit match 100% up to $400
- Third Deposit match 100% up to $400
- Fourth Deposit match 100% up to $400
Another Example for Sportsbook Deposit Match Bonuses
Other betting sites might also split the deposit bonuses among different deposit amounts. But then they might change the percentages to make the offers more enticing.
- First Deposit match 100% up to $1000
- Second Deposit match 50% up to $200
- Third Deposit match 150% up to $200
The bonus you receive may also be influenced by the sort of currency and deposit method you utilize. Bitcoin and other cryptocurrency bonuses are becoming increasingly prevalent as bitcoin becomes more widespread.
While deposit bonuses increase your bankroll and allow you to bet without risking your own money. But they also have wagering requirements attached to them. To convert the bonus money and any winnings from the bonus into cash you need to fulfil these requirements.
Match bonuses are becoming increasingly popular among online casinos. Many online gambling sites provide match bonuses if you use a certain currency, such as USD, CAD, Euros, GBP or Rupees.
Free Bets in General
The free bet incentive is designed to allow players to bet without having to worry about rollover requirements. Instead of matching your first deposit dollar amount, you would receive a free bet instead.
Free bets are usually given as a bonus for either making a deposit or for placing a bet. The great thing about free bets is that you will not be wagering your own money to place the bet. The bet amount will be covered by the betting site.
If you win your free bet within sports betting promotion, the money is immediately added to your account and is treated in the same way as any other winning betslip. The only exception is that you will not receive the stake amount as part of your winnings, you will only receive the winnings. For example, if you place a $5 free bet and that free bet wins $20, you will only receive the $20 winnings into your account, not the $5 bet amount as well.
If you lose your free bet, you will just lose the free money that you got from the sports site. What’s more, you may even be offered other sports betting bonuses with wagering requirements that you can redeem right away to keep playing on your favourite online gambling site.
Free Bets for NFL
Free bets are frequently used as betting promotions for existing bettors at most sports betting sites and online casinos when they have placed a certain amount of money on a particular event. Some free bets may require a bonus code and can be used in specific betting markets. For example, NFL free bets.
When sports bettors achieve the goals set by the online bookmaker, providers may give them free bets. Some internet casinos also give free bets to players when they have lost a number of times in their poker room or as an incentive to try sports betting for the first time.
Reload Sportsbook Bonuses
For existing customers who have already received their cash bonus or first deposit bonus from signing up at the site, you are not done with advantages just yet.
Many sites will offer a reload bonus. Reload bonuses are exactly like deposit match bonuses but they are for existing customers and not on first deposits.
When you add more money to your account, the sportsbook may give you a percentage match of anywhere between 5% to 100%. Usually, it is around 50%.
So, if you were to add $100 to your betting account and the reload bonus is 10%, you would get an additional $10 into your bankroll. Reload bonus amounts are usually lower than those of first deposits.
Most betting websites and online casinos use reload bonuses to incentivize bettors to add new funds to their accounts. Most sportsbooks provide bettors with a special match bonus for reloading their accounts and are usually in a percentage match rate.
Although it varies per site, general reload bonuses might be given on a certain day, usually around payday and capped at a specific amount. You may even see deposit option-specific reload offers like credit cards or Bitcoin bonuses.
Risk Free Bet
A risk free bet is also very popular among sports betting sites and it works like this. As a sports fan, you place a bet on a certain market, either a moneyline bet or a spread bet, and if your bet loses you get your money back. This is usually a specific bet amount, like a $20 risk free bet.
You can either receive your money back as cash, meaning you can withdraw it right away with no consequences. Or, you can get it back as bonus money. If you get it back as bonus money it will probably have some rollover requirements attached to it.
A risk free bet is usually a smaller amount, anywhere between $5 – $50. These are usually given to existing customers but they are being given as sign up bonuses as well.
Other than the deposit bonuses, free bet bonuses, and risk free bet offers, a sportsbook might also offer a cashback bonus. This is similar to a risk free bet. However instead of returning a specific amount of money used as a bet, they will return a percentage of your losses back to you after a certain amount of time.
For example, a site might give you a 10% cashback bonus on all losses throughout a week. So if you have been unlucky and lost $100 over a week, you will get 10% back ($10).
This amount can be given as cash or as a bonus amount.
One other type of sports bonus which is not related to bankroll or free bets is when a sports site boosts a specific market to entice players to place a bet on it. For example, if there is a game that has Moneyline odds of 1.5 (-200) the site might boost that to 10.0 (900). The potential winnings from placing that bet will be much higher than if placed on the regular odds. Usually, the limitation on boosts is that they will limit the amount you can bet on that specific market, for example, the max bet amount will be $5.
For example, the sportsbook regular odds are 2.0 (100). They have boosted the odds to 10.0 (900), however, the max bet amount is $5. If you place a $5 bet on the regular odds, your potential winnings are only $5. With the boosted odds, your potential payout is $45.
Sports Specific Betting Bonuses
Certain sports betting sites may provide bonuses for specific sports. For example, you may receive a free bet if you make March Madness selections.
If you have previously bet on hockey, the site may provide you with a bonus for placing sports bets on the Stanley Cup. These might have rollover or betting limitations.
Advantage of Sportsbook Bonuses
Bonuses are a fantastic approach to increase your stake while having fun betting on your favourite betting site, as long as you keep a few things in mind:
Don’t just deposit because of the deposit bonus. Make a deposit because you want to have fun betting. Any only deposit what you can afford.
Only gamble at one of the betting websites we recommend. We like these betting sites because they are safe, secure, and offer the greatest betting bonus offers and betting offers available.
Before accepting a free bet bonus, read the terms and conditions thoroughly. Wagering requirements exist for a reason, so be sure you know what they are before attempting to collect your sports bonus. If the rollover requirement is too high, then the bonus might not even be worth it.
If you do not find a deposit bonus offer that appeals to you, or if you want to add a significant sum such as $1,000 to your account, you can contact the site’s customer service department. They may supply you with a fantastic offer for your large own money deposit and loyalty to the website.
Do not forget that a bonus bet is just that, a bonus. Sites give out betting offers for a reason and the main reason is usually to get you to spend more or play more.
Sportsbook Bonuses FAQ
Here are the most common questions about Sportsbook bonuses in Canada.