With the vast amount of online sportsbooks on the market, picking the right one can be easier said than done. Betting sites are constantly competing to entice new customers with the best bonuses, which is fantastic news for bettors. But with so many types of bonuses out there, how can you be sure which is best for you?
Deposit bonuses, also known as matched deposit bonuses, are some of the best online betting offers available. We’ve searched far and wide to find the best betting sites with this deal. As well as finding the best deposit bonuses for sports betting, we’ve got the lowdown on everything from wagering requirements to how to claim your bonus funds. Whether you want to bet on soccer, football, hockey or horse racing, there’s something for everyone – check it out!
What is a matched deposit bonus?
Matched deposit bonuses are pretty straightforward – a sportsbook will match a percentage of your first deposit in the form of bonus funds. Most betting sites offer between 50% and 100% deposit matches, but some offer as much as 200%. The bonus betting funds you can earn is usually capped at a certain amount, so you might see these advertised ‘100% bonus up to $100’, for example.
Understanding how they work is pretty simple, too. For example, if you claim a ‘50% bonus up to $100’ you’ll receive half of what you deposit in the form of bonus funds, up to $100. So if you deposit $200, you will receive $100 in bonus funds, taking your total bankroll to $300.
The best thing about deposit bonuses is that they give your betting funds a boost. This is useful if you want to make a slightly bigger bet on your regular market or make a riskier bet on an underdog that you might otherwise avoid.
Matched deposit bonuses also offer flexibility in the way that you don’t always have to make a hefty deposit to activate the bonus- all you need to do is make the minimum deposit. Whether you want to claim the maximum bonus funds in your ‘100% up to $30’ bonus, or prefer to claim on your $15 minimum deposit- the choice is yours.
What else do I need to know
Working your way through the terms and conditions of bonus offers can seem a little daunting at first, but fear not – we’ve got you covered. Take a look at the following guide to get to grips with everything you need to know when comparing deposit bonuses.
You should always look out for wagering requirements before you claim a bonus. These are most common for casino bonus rewards, but they do apply to sports betting offers. Wagering requirements mean that you will have to wager the value of your deposit and bonus fund a certain number of times before you can withdraw the bonus and any associated winnings.
Let’s say sportsbook offers a 50% bonus up to $50, with a 6x wagering requirement that applies to both your deposit and bonus. You make a deposit of $100, earning $50 in bonus funds. This means you’ll have to wager $900 before you can withdraw your winnings- ($50 + $100) x 6 = $900.
Deposit bonuses often come with minimum odds restrictions, which often also apply to the wagering requirements. These restrictions mean that you can only use your bonus funds to wager on markets over a certain price. Likewise, some betting sites only allow bets placed above a minimum odds threshold to contribute towards completing the wagering requirements.
For example, if the minimum odds are -125, you’ll only be able to complete the wagering requirements with bets higher than this. The good news is that once you’ve met the wagering requirements, you’ll be able to use your winnings without any minimum odds restrictions.
Time is of the essence when it comes to deposit match bonuses. You’ll have a limited amount of time to use your bonus funds and, at some sportsbooks, you will also need to complete the wagering requirements in this time frame. Time limits will vary between sportsbooks and can range from a few days to up to 30 days.
How to claim your matched deposit bonus
- Compare sportsbooks
With so many betting sites out there, it’s important to take your time to find the best deal for you. That’s where we come in – take a look at our carefully selected list to find the top sports betting sites with the best deposit bonuses. Compare sportsbooks, considering odds, market depth, mobile compatibility along the way, and select the site that suits you best.
- Check the terms and conditions
As with any kind of online betting offer, it’s important to check the small print just to make sure you know what you’re signing up to.
- Sign up and enter the promo code
Once you’ve checked out our reviews and chosen your bookmaker, it’s time to sign up. Follow our link to head straight to the registration page- don’t forget to enter the promo code for the bonus offer when you register.
- Deposit and claim
Once you’re all signed up, head over to the deposit page, select your preferred payment method and enter the amount you wish to deposit. It may be tempting to make a big deposit to claim a large bonus, but remember to always bet within your means.
- Start betting
Once your deposit, and bonus funds, are in your account you’re ready to start betting. You’ll be spoilt for choice when it comes to selecting a betting market at these top betting site, so check out what’s on offer, weigh up the odds and place your wager. Have fun!
Ready to claim your bonus?
Now that you understand the basics of matched deposit bonuses, it’s time to choose your sportsbook. Not sure where to start? We’ve whittled our list down to the best sports betting sites on the market, so we’re sure you’ll find one in our list to suit you. Take a look, compare different sites and claim your deposit bonus today!