What are Sports Bonuses?

The term “bonus” refers to any amount of money added to your betting account after the initial deposit. It’s 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 cash just for opening an account. Since the creation of the internet sportsbook industry, bonuses have been a part of it – though 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.

Sports Betting Bonus in Canada

Wagering websites or sportsbooks attract new players and encourage existing ones to keep betting at their site by providing sportsbook bonus, boosting the chance of winning for players.

Canada has some of the most competitive sports betting bonuses in the world, with everything from bonus bets and free bet to bonus code.

Sportsbooks can create different incentives to attract new pundits and reward existing customers with greater wagering amounts. Unlike government-run lotteries, they may establish various offers to entice new users and provide better wagering rates.

That is why there’s 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’ll discover a wide range of bonus offers accessible, including football betting specials, the most recent and exciting eSports betting, as well as an emerging sector that you should monitor.

How do Sports Betting Bonuses Work?

A sportsbook bonus is usually in the form of bonus money or free bets, which we’ll get into below. If a store has a BOGO offer on shoes (buy one, get one free), there may be several limitations.

They might be limited to particular brands such as Stan Smiths or Air Jordans, for example.

Before accepting any bonus offers, it’s critical to read the bonus terms and conditions because each bookmaker or gambling sites has its own policy.

These are sometimes referred to as wagering requirements, and they’re usually represented using numbers such as 5x, 10x, or 25x.

This represents the amount you’ll need to wager in order to clear your full bonus award into real money. Assume your initial deposit is CAD 100 to your betting account and the bonus is 50 percent with a 5x wagering.

Betting Bonuses and Requirements

You are entitled to a CAD 50 bonus (50% of CAD 100). To collect your reward, you must wager the equivalent of CAD 500 (CAD 100 x 5). However, you do not have to put all of your money on one bet.

Sports betting bonuses are often accompanied with dollar amounts. They may provide you with money, such as CAD 100 in bonus funds, or another amount that corresponds to your deposit.

The bonus’s expiration date is another thing to consider. You may only claim your bonus for a certain period of time due to betting promotions, such as 30 or 60 days – after that, it vanishes.

With your sportsbook betting bonuses, odds may come into play. This indicates that if you bet CAD 10 on the Cowboys at -110 and they lose, you will get CAD 10 toward your wagering requirement.

However, if they win, you’ll only receive CAD 9.09 in return. It’s similar to getting extra credit for a bet that loses. Some sports betting sites go one step further and refuse to let you utilize your bonus on popular favorites.

How to find the Best Sports Betting Bonus?

The answer to that question is determined by you, the bettor, and your preferences.

There are a variety of online betting bonuses available in Canada’s online casinos and bookmakers, including SugarHouse online casino, RushBet casino, and BetRivers, while others give distinct incentives together with varied criteria.

Over the years, as gambling in the country expanded and became more acceptable, online sportsbooks and casinos began offering a variety of sports incentives.

Let’s go down the categories of bonuses offered by betting sites and see which one is right for you.

Sign Up Bonus

Bonuses given to new customers by gambling sites are referred to as sign up bonus. It’s usually the largest and most advertised bonus at an online betting site, often plastered across banner ads.

The purpose of the sign up 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’d 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 is a deposit bonus. Users that make a deposit into their sportsbook account will be rewarded with a reload bonus.

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.

A match bonus is similar to a reload bonus, except that it gives you more money. You get a percentage of your deposit as a cash bonus to boost your bankroll.

If you were given a 50 percent match bonus and put CAD 100 into the system, the betting site would add CAD 50 to your account.

The match rates may be anything from five to 100 percent of your qualifying deposit, depending on the online sports betting bookmaker.

The bonus you receive may also be influenced by the sort of currency and deposit method you utilize. Bitcoin bonuses are becoming increasingly prevalent as bitcoin becomes more widespread.

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 Bet Bonuses

The free bet incentive is designed to make wagering worry-free. Instead of matching your first deposit dollar amount, you would receive a gift instead.

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.

Sports bonuses in Canada

If you lose your free bet, you may be offered another sports betting bonus with wagering requirements that you can redeem right away to keep playing on your favorite online gambling site.

Free bets are frequently used as betting promotions for existing bettors at most sports betting sites and online casinos when they’ve placed a certain amount of money on a particular event. Some free bets may require a bonus code and can be used to specific betting markets.

When bettors achieve the goals set by the online bookmaker, providers may give them free bets. Some internet casinos also give cash bonus to players when they have lost a number of times in their poker room.

Reload Sports Bonuses

For existing customers who have already received their cash bonus or first deposit bonus from signing up at the site, you’re not done with advantages just yet.

You could be offered a reload bonus. When you add more money to your account, the sportsbook may give you a percentage match of five percent or 10 percent.

So, if you were to add $100 to your betting account and the deposit bonus is 10 percent, you’d get an additional $10 to bet with. 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 provides, general reload bonus percentages can be anywhere between 10% to 15% and capped at a specific amount.

You may even see deposit option-specific reload offers like credit card or Bitcoin bonuses.

Sports Specific Betting Bonuses

Certain sports betting sites may provide bonuses for specific sports. For example, you may receive a bonus of five percent of your deposit if you make March Madness selections.

If you’ve previously bet on football, the site may provide you with a bonus for placing wagers on the Super Bowl. These might have a rollover or betting limitations.

Sports Betting Bonus Advantage

Bonuses are a fantastic approach to increase your stake while having fun wagering on your favorite 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.
  • Only gamble at one of the betting websites we recommend. We like these sports betting sites because they are safe, secure, and offer the greatest betting bonus offers and betting promotions 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 you don’t find a deposit bonus offer that appeals to you, or if you want to add a significant sum such as CAD 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.

Sports Betting Bonuses FAQ

What’s the most lucrative sportsbook bonus?

It’s without a doubt the welcome bonus for get you started.

The online sports betting market is competitive, and bookmakers compete constantly to outdo one another in terms of welcome bonus.

To get the greatest bargain, take advantage of it.

When do sportsbook bonuses peak?

The NFL Super Bowl and NCAA March Madness tournament attract a lot of betting interest in Canada.

A good online Bookmaker knows that this attention is hot and seeks to profit off of the high demand by increasing its bonus incentives in order to attract new customers.

During the month of February and March, you’ll be able to get the best matched deposit bonus as a sign up bonus.

Are best bonuses too good to be true?

So, in a nutshell, yes and no. Yes, the bonus cash advertised is genuine.

However, there are some restrictions. To access the award, you must first deposit your own money, and to meet wagering requirements to receive the matched bonus paid.

When it comes to best betting bonuses, you must accept the good (bonus cash) with the bad (difficult withdrawals).

Do sports and casino bonuses expire?

Yes, they do. The majority of bonuses have a 30-day period during which free play may be used (whatever is remaining in the balance) before it is completely voided. As soon as you redeem the incentive, the 30-day clock starts ticking.

Not all bonuses are eligible for this, but it appears to be the usual case. The terms and conditions of the agreement will reveal if the offer has an expiration date or not.

Can free money bonuses be used for sportsbook and casino games?

This is going to differ based on the bonus. Bonuses, on the other hand, are typically given only to players on a single playing platform.

If you opted in for a sports betting bonus, the free money can’t be used in the site’s casino or poker room.

Are deposit bonuses only for new customers?

Yes, there are and it’s called a reload bonus. It works similar to sign-up deals: re-deposit money into your account and a percentage of it is matched in free play by the bookmaker.

Most sportsbooks offer these promos to retain loyal players, however, they’re usually not as lucrative as sign-up bonuses.

Is it possible to use your sign up bonus twice on one online betting site?

This is a big no-no among most sports betting sites. To prevent people from obtaining a sign up bonus twice (using separate accounts), many betting sites keep track of IP addresses (IP tracking).

A sports betting site regards this as “gaming the system,” and they go out of their way to prevent it from happening.

What is the wagering requirement, and does any bet qualify?

Here’s another bonus bet specific inquiry.

However, it is not unusual for best betting sites to prohibit particular bets from being taken into account (for example, live dealer casino games) in order to fulfill the requirement.

The terms and conditions for free bet promotions will be specified.

What are some strategies for hitting the rollover threshold?

It’s straightforward: make bets early and often. There are no shortcuts in wagering betting bonus offers other than to wager early and often.

However, by betting early, you prevent yourself from losing the bonus (or making up ground).

To meet the condition, be consistent from start to finish.

Do you need a bonus code to use it?

Some do, but others don’t. It will depend on the maximum bonus.

However, if a bonus code is required, best betting sites usually advertise it adjacent to the free play amount and match percentage.

Free bonus bets codes are difficult to overlook, as we’ve seen.