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Sportsbook bonus fine print, explained
Welcome offers sound simple. The terms decide what they are really worth. This guide explains the common terms so you can read them yourself.
The common terms
- Bonus bet (free bet, "bonus bets")
- Credit you can wager but not withdraw. An operator's own explainer says bonus bets are bonuses found on your account page or bet slip, and may be limited to a specific sport, game or bet type. With most bonus bets, if the wager wins you receive the winnings but not the bonus amount itself; check the operator's terms.
- Site credit / cash bonus
- Money added to your account that may be withdrawable only after conditions (like a rollover) are met.
- Rollover, playthrough, wagering requirement
- A multiple of an amount you must wager before the bonus or related winnings can be withdrawn. Check whether the multiple applies to the bonus only or to bonus plus deposit. Use the bonus rollover calculator.
- Minimum odds, eligible markets
- Some offers only count wagers at or above certain odds, or on certain markets.
- Expiry
- Bonus credit often expires after a set number of days. Missing the deadline can forfeit it.
- Qualifying deposit or first wager
- Some offers require a minimum deposit or a first wager that is "matched" or refunded in credit, not cash.
What one regulator requires
Ohio's rule on promotions and bonuses (Ohio Administrative Code 3775-16-09, effective October 26, 2024) requires bonus rules to be "clear and unambiguous" and to include: the date and time the promotion is active and expires; rules of play; the nature and value of prizes; eligibility restrictions; wagering and redemption requirements, including any limitations; eligible events or wagers; and cancellation requirements. It says promotions described as free or risk-free must not require you to risk your own money to use or withdraw winnings from the free wager, and that operators may require bonus funds to be played through, but must not restrict you from withdrawing your own funds or winnings from wagers placed with your own funds. Other states have their own rules; look at your state regulator.
A reading checklist
- Is the bonus cash, a bonus bet, or credit with a rollover?
- What exactly must you wager, how much, and by when?
- Do minimum odds or market limits apply?
- What happens to the bonus if you withdraw early or lose the qualifying wager?
- Does the offer cause you to deposit or wager more than you planned? If so, remember that no offer is worth losing money you need.