Bonus Bets
Site credit from a sportsbook that you can bet with but not withdraw. Winnings pay out without the stake.
Bonus bets are credits a sportsbook gives you to place bets with, usually as part of a welcome offer or promotion. You can't withdraw them directly. If a bonus bet wins, you keep the winnings as cash, but the bonus bet amount itself is not returned.
Sportsbooks used to call these "free bets." Many US states now require the term "bonus bets," since they come with conditions.
How Bonus Bets Pay: Stake Not Returned
This is the key difference from a cash bet. With a $50 cash bet at +100, a win returns $100: your $50 stake plus $50 profit. With a $50 bonus bet at +100, a win pays only the $50 profit.
| $50 Bonus Bet at | Cash You Win |
|---|---|
| -110 | $45.45 |
| +100 | $50.00 |
| +300 | $150.00 |
| +500 | $250.00 |
Because the stake isn't returned, bonus bets get more of their value at longer odds.
Typical Bonus Bet Rules
- Expiration: often 7 days, sometimes 14 to 30. Unused bonus bets disappear.
- Single use: you usually have to use the full amount on one bet. Some books split them into smaller tokens (for example, four $50 bets).
- Minimum odds: some offers require odds of -200 or longer.
- No withdrawal: you can only withdraw what the bonus bet wins.
Always read the specific offer's terms.
Getting the Most from Bonus Bets
- Use plus-money odds. A bonus bet on a +300 underdog wins less often but returns far more when it does.
- Don't use bonus bets on heavy favorites. At -300, a $50 bonus bet wins only $16.67.
- Watch the expiration date so they don't go to waste.
Some bettors "convert" bonus bets by betting one side with the bonus bet and hedging the other side with cash at another book. Done carefully, this can lock in roughly 60% to 80% of the bonus value as cash, but it requires accounts at multiple books.
Bonus Bets in Welcome Offers
Offers like "Bet $5, Get $200 in Bonus Bets" give you bonus bets after your first qualifying cash bet. Read the fine print: the $200 is not cash, and it has to be used within the expiration window.
Key Takeaways
- Bonus bets can't be withdrawn. Only their winnings can.
- Winning bonus bets pay profit only. The stake is not returned.
- Bonus bets usually expire, often after 7 days.
- They return more value at plus-money odds.
Examples
- A $100 bonus bet at +200 wins $200 cash. A $100 cash bet at +200 would return $300.
- "Bet $5, Get $200 in Bonus Bets" gives you $200 in credits to bet, not $200 in cash.
Related Terms
Test Your Knowledge
1 / 4Do you know what Odds Boost means?
A sportsbook promotion that raises the odds on a specific bet above its normal price.
Frequently Asked Questions
Can I withdraw bonus bets?
No. You can only withdraw the winnings from a bonus bet once it settles, subject to the sportsbook's rules.
Why didn't I get my stake back on a winning bonus bet?
Bonus bets are "stake not returned." A winning bonus bet pays only the profit, not the bonus amount you bet.
Do bonus bets expire?
Usually, yes. Seven days is common. Check the offer terms.