One of the ways online sportsbooks compete is by grabbing the attention of bettors with lucrative promotions. Usually, sportsbook promotions come in the form of bonus bets.
If you want to be fully prepared for when sports betting arrives in Texas, you should learn how these promotions work and what you can get from them. Read on for our complete guide to Texas sports betting promos, focusing on bonus bets.
How do sports betting promos work?
Sportsbooks use promotions to bring in new customers and keep up with the competition.
A bonus bet is the most common promotion on online betting sites and apps. With a bonus bet, you receive several credits that you can use to wager. If you got, for example, $100 as a bonus bet reward, you can place it on some sports and markets just like you would with your own cash.
The difference between a bonus bet and a regular bet is that, in case you win, you only get to keep the profit and not the stake as well. This is fair since the stake was given to you for free in the first place.
Most bonus bets require a deposit, although some sportsbooks may go out of their way and award a no deposit promo to their newest customers. No deposit promos are sometimes part of a pre-registration campaign, so keep an eye out for when Texas sportsbooks announce their launch.
How to claim a Texas sports betting bonus
No matter which bonus or promo you see, the first step in claiming it is to sign up for that Texas sportsbook. When you use our links on the site to sign up, the stated bonus will carry over and be credited whether by link alone or using a sportsbook bonus code or promo code that you’ll find at our site.
From them, it’s as easy as registering for the site:
- Use our links to go to the sportsbook registration page. This will confirm your bonus, which can be exclusive to our site.
- You will be prompted to set up your username and password to start
- Confirm your email, full name, address, and phone number, and usually the last four digits of your Social Security number. This information is used for verification and to prevent fraud
- Read and accept the terms and conditions and create your account
- If the bonus is a no deposit one such as a bonus bet, you’ll receive your credit usually within minutes of completing registration. If it’s tethered to a deposit, you must make your first deposit per the terms and conditions and you’ll receive your bonus within minutes of completion
- If you have a bonus bet bonus, you’ll make your qualifying bet after depositing and the bonus will trigger depending on the outcome
Best bonus offers at Texas sportsbooks
You can claim a number of different sportsbook promos once available in Texas. Apart from the bonus bets that are commonly a part of the sportsbook’s welcome deal, you can find things like odds and profit boosts.
Every major sportsbook has a list of daily events that enhance the betting odds and lower their juice, while others award extra profit when you create a parlay.
Another frequent offer is a deposit bonus. This promo grants extra credit based on your deposit. For instance, FanDuel could run a deposit bonus of 100% up to $250. Every deposit you make up to $250 is matched dollar-for-dollar by FanDuel, and the extra money arrives as bonus bet credits.
How do bonus bets work?
Bonus bets are basically bets with extra steps. A sportsbook that offers a bonus bet will give you a chance to make your first bet up to a specified amount without any risk. When you make a bonus bet, there can only be two scenarios:
- Your bet wins, in which case you win like with any regular bet.
- Your bet loses, in which case you get the stake back, but only in the form of bonus bet credits.
For example, BetMGM Sportsbook runs a $1,500 bonus bet promotion that works just like this. If you placed a $100 bet on the Dallas Mavericks and they lost, you would receive five $20 bonus bets in return. However, know that you must wager the ensuing bonus bets before collecting the money.
Bonus bets can go by different names at different sportsbooks. For instance, FanDuel Sportsbook has branded its welcome promo as a No Sweat First Bet. Branding aside, when sportsbooks launch in Texas, you’ll have your share of bonus bet bonuses to enjoy.
What’s the best way to use sports betting promos or bonus bets?
Since you’ll get a second chance if your bonus bet loses, it makes sense to use it on something risky. When you think about it, you can either win big or bet again with the same amount.
Many pros also use bonus bet credits for hedging. This means putting the bonus bet on one side of a two-way market and placing a regular cash bet on the other side. Of course, this also requires a bit of calculation and determining how big of a bet you need to put on each side for it to pay off.
Can you cash out the winnings from promos and bonus bets right away?
Most sportsbook promos are non-withdrawable. You must use the bonus credits to wager, and only if you win can you claim the profit. It’s usually enough to wager the bonus bet once before being allowed a withdrawal.
What are ‘wagering requirements’ for sports betting promos and bonus bets?
Wagering requirements are a number that indicates how many times you must wager the bonus before cashing out. With bonus bets, which come either as a standalone promo or a result of a bonus bet, wagering requirements are usually 1x, meaning that you need to wager the bonus bet amount once, after which you can cash out the profit. However, wagering requirements can be greater for match deposit bonuses and other promotions.
Are all sports bets eligible to use with these promos?
It’s always worth looking at the fine print of a sportsbook promo to see if there are any limitations you should worry about. Some bets are not compatible with a bonus bet for obvious reasons.
For instance, outright bets or futures often aren’t eligible because they take a long time to settle, while bonus bet credits usually have expiration dates. Meanwhile, some sportsbooks don’t allow promotional bets to be taken on heavy favorites, so they impose minimum odds requirements, like -200.
Are bonus bets worth it?
Bonus are worth it, but bonus bets are often a better deal. You’ll usually need to make a deposit or complete a certain requirement, like making a qualifying bet to receive bonus bets.
You can make money with both your original deposit and the qualifying wager and still get to use the bonus bet on top. Meanwhile, a bonus bet only awards a bonus bet if you lose with your own money. If you win a bonus bet, you get nothing extra.
What other Texas sportsbook bonuses are there?
While bonus bets are the most common sports betting promos, there are plenty of other betting bonuses you might encounter at forthcoming Texas sportsbooks, including:
- Match deposit bonuses: a cash or bonus bet bonus valued based on your initial deposit
- No deposit bonuses: a bonus you can claim right after signing up without depositing
- Odds boosts: enhanced odds on selected events
- Profit boosts: enhanced profit when meeting certain criteria, usually due to the number of legs on a parlay or total odds
- Referral bonuses: a bonus you receive after a person you invited to the sportsbook (via a special referral link) completes their first deposit