Mobile open
Mobile close
Home > Sportsbooks
Sportsbook Bonus Bets Explained
What They Are, How They Work, and How to Use Them Safely
Sportsbook bonus bets are one of the most common promotions in legal U.S. sports betting — and also one of the most misunderstood. For beginners, confusion around bonus bets often leads to poor decisions, wasted offers, or unnecessary risk.
This guide explains what sportsbook bonus bets are, how they work, and how to use them correctly, with plain-English examples. Golden Camel also shows how different sportsbooks structure their bonuses so you can choose the option that fits your comfort level.
What Are Sportsbook Bonus Bets?
Quick answer:
Bonus bets are betting credits sportsbooks give you that let you place wagers without risking your own cash. If the bonus bet wins, you keep the winnings (minus the bonus amount). If it loses, you don’t lose your own money.
Bonus bets are typically offered:
- to new users as a welcome bonus
- during promotions or special events
- as part of bet-and-get or insurance offers
They are not the same as cash, but they can turn into real, withdrawable money if used correctly.
How Do Bonus Bets Work? (Plain English)
When you place a bonus bet:
- The sportsbook gives you betting credit (not cash)
- You place a wager using that credit
- If the bet wins, you keep the winnings
- If the bet loses, the bonus credit disappears — but you didn’t risk your own money
Important:
The bonus amount itself is usually not withdrawable. Only the winnings are.
Types of Bonus Bets You’ll See
Different sportsbooks use different bonus structures. Here are the most common types beginners encounter:
Bet Credits / Bonus Bets
You receive betting credit that can be used to place wagers. Winnings are real cash.
Bet Match
If your first bet loses, the sportsbook matches the amount with bonus bets (up to a limit).
First-Bet Insurance
You place your first bet normally. If it loses, the sportsbook refunds you with bonus bets.
Free Bets
A specific bonus bet you can place without using your own money.
Branded Credits (e.g., FanCash)
Some sportsbooks use branded bonus currency. These work like bonus bets but have platform-specific rules.
Common Rules & Restrictions to Know
Bonus bets almost always come with conditions. The most common ones include:
- Minimum odds requirements
- Restrictions on eligible markets
- Time limits for using the bonus
- Limits on which bets qualify (e.g., no cash-outs)
Golden Camel helps you compare these rules across sportsbooks so you don’t accidentally waste an offer.
Example: Bonus Bets in Real Use
Let’s say you receive a $100 bonus bet.
- You place the $100 bonus bet on a +200 wager
- If it wins, you earn $200 in winnings (which you can withdraw)
- The original $100 bonus bet is not returned
- If the bet loses, you lose nothing
This is why bonus bets work best on:
- plus-money bets
- player props
- markets where upside matters more than safety
How to Use Bonus Bets Wisely
For beginners, the goal isn’t to “beat the system” — it’s to learn without unnecessary risk.
Golden Camel recommends:
- using bonus bets on plus-money odds
- avoiding heavy favorites
- line shopping before placing the bonus wager
- understanding the rules before clicking “place bet”
Bonus bets are tools. Used correctly, they reduce risk. Used incorrectly, they create confusion.
How Bonus Bets Differ by Sportsbook
Different sportsbooks structure bonus bets in different ways. For beginners, this matters more than the headline amount.
- BetMGM offers first-bet protection that refunds your losing first wager with bonus bets
- Fanatics offers low-risk entry with a small qualifying bet and large bonus credit
- Caesars focuses on bet-and-get bonuses and ongoing promotions
👉 Compare how these sportsbooks handle bonus bets:
- BetMGM Sportsbook Review
- Fanatics Sportsbook Review
- Caesars Sportsbook Review
- Recommended Sportsbooks for Beginners
Quick Comparison: Bonus Bet Styles
| Sportsbook | Bonus Style | Risk Level | Best For |
|---|---|---|---|
| BetMGM | First-bet insurance | Low | First-time bettors |
| Fanatics | Bet & get bonus credit | Very Low | Learning with minimal risk |
| Caesars | Bet match & promos | Medium | Promotions & boosts |
Frequently Asked Questions About Bonus Bets
Bonus bets are promotional betting credits that allow you to place wagers without risking your own money. Winnings are usually withdrawable, but the bonus amount itself is not.
Yes. Any winnings generated from bonus bets can typically be withdrawn after the bet settles, subject to sportsbook rules.
Most bonus bets do not require wagering the winnings multiple times, but they often have odds or market restrictions. Always review the terms.
Usually yes, but some bonus bets exclude certain markets or bet types. Each sportsbook sets its own rules.
Use them on plus-money bets you’ve already line-shopped and avoid heavy favorites where the upside is limited.
Ready to Compare Bonus Bets?
Understanding bonus bets is the first step. Choosing the right sportsbook is the next.
👉 See Golden Camel’s Recommended Sportsbooks for Beginners
👉 Compare BetMGM, Fanatics, and Caesars Bonuses
Must be 21+. Gambling problem? Call 1-800-GAMBLER. Availability varies by state.