Get Yourself a Great Sports Betting Bonus

They add hundreds or even thousands of dollars to your bankroll. Sports betting bonuses are easy to claim, and you can take advantage of as many of them as you wish. Almost every online bookmaker offers a variety of bonuses. You can find cash bonuses, free bets, risk-free bets, and much more.

Making a profit from betting on sports is no easy task, but getting your hands on some of those sweet bonus bucks can go a long way toward putting yourself in the black. If you want to find the best bookmaker bonuses, then you’ve come to the right place.

Best Sports Bonuses in Canada

Betting on sports is a great Canadian pastime. Unlike many other parts of the world, sports betting is perfectly legal in Canada. Those in the Great White North have plenty of excellent domestic and international bookmakers to choose from which means they also have an abundance of valuable betting bonuses at their disposal. We will help you find the best ones. We’ve found the biggest cash bonuses, fantastic free bets, extraordinary risk-free bets, and even a few no-deposit bonuses.

While bonuses like these are usually offered as part of welcome packages, many bookies often give them to existing customers who top up their account balances too. In other words, you can take advantage of these bonuses over and over again. You can find a few of the best betting bonuses in Canada in the list below.

Canadian Bookmakers with the Best Bonuses

Welcome Bonus

Bookmakers offer a range of welcome bonuses. The main reason for doing this is to attract new customers. While some online sportsbooks still offer no-deposit bonuses which are ideal for beginners, almost all bookies have some type of deposit bonus. In both cases, these betting bonus offers normally come in the form of cash, free bets, risk-free bets, or a combination of the three.

Welcome bonuses usually work like this: You open a new account at the bookmaker’s site and make a deposit. Once the deposit is complete, you’ll have access to your bonus funds, free bet, or risk-free bet. You then have a certain amount of time to meet the wagering requirements. If you successfully satisfy those requirements within the prescribed time, you can withdraw the bonus money and put it in your pocket. Welcome bonuses give you a chance to significantly fatten your account balance right off the bat.

Free Bet

A free bet is exactly what the name implies. It is a bet you make without using your own money. It gives you the opportunity to win real money without risking any. The value of your free bet will vary depending on the bookmaker. It might be a $5 free bet or it could be a $500 free bet. The value of the free bet is almost always related to the amount of money you deposit. That’s why you’ll see advertisements like “Claim a free bet up to $100”.

Regardless of the bookmaker and the free bet’s value, they usually work the same way. You open a sportsbook account and make your deposit. The bookmaker then credits you with the free bet which you must use within a specific time limit. You find the event you want to use the free bet on, place your wager, and wait for the outcome.

Odds Boost

While odds boosts are usually promotional, they can still be loosely defined as bonuses because they give you a chance to win more money. The concept of odds boosts is pretty self-explanatory. Let’s say your bookmaker is offering an odds boost on a few selected games. One of those games happens to be a game you want to bet on. It’s a hockey game featuring the Toronto Maple Leafs and the Vancouver Canucks, and it’s a pick ‘em with both teams listed at 1.95 odds.

However, with the odds boost, you can bet on your team at, say, 2.15 odds. So, if you bet $10 on your team at the original 1.95 odds and won, your payout would be $19.50. With the odds boost in effect, that same winning bet would now payout $21.50. You might also come across a “Profit Boost” which is almost the same. Instead of adding value to the odds, the bookmaker adds value to your win amount.

Cashback

Like odds boosts, cashback is more of a promotion or regular feature than a betting bonus. Still, it is a bonus in that cashback puts money in your pocket and helps your bottom line. Have you ever gone on a cold streak? Had a losing week? There’s a pretty good chance you have if you are an experienced bettor. Losing streaks happen to even the sharpest of sports bettors.

Let’s lay out the following scenario to illustrate how cashback works. This week, you suffered a net loss of $500. A net loss is defined as the amount you wager minus the amount you won back. Fortunately, your bookmaker is offering 10% cashback up to $100. That means they will refund 10% of your losses up to a maximum of $100. In your case, 10% of your $500 net loss is $50. By no means would this fully compensate you for your loss, but it would take a bit of the sting out of it.

Deposit Bonus

The most common type of betting bonus is the deposit bonus. As we already mentioned, deposit bonuses come in a few different forms. They normally come in the form of bonus cash, free bets, or risk-free bets. In order to qualify, you must first make a deposit. The value of the deposit bonus generally depends on the size of your qualifying deposit.

Here is an example of how a deposit bonus works: We’ll pretend that your bookmaker is offering a 50% match deposit bonus up to $100 and you deposit $100. In addition to having the $100 in your betting account, the sportsbook will give you 50% of the deposit amount, or $50 in bonus cash.

The bonus portion is placed in a separate bonus account and you must meet certain wagering conditions for it to become eligible for withdrawal. Once you’ve met those conditions, the $50 in bonus money is transferred into your regular account and you can do with it as you please.

No-Deposit Bonus

While they are usually a lot smaller than deposit bonuses, no-deposit bonuses are ideal for beginners. As the name suggests, you don’t need to make a deposit to claim one. In most cases, a bookie that offers a no-deposit bonus will give it to you just for opening a new account. This allows you to try your hand at sports betting without risking any of your own money. Of course, you can turn a no-deposit bonus into cash on hand.

No-deposit bonuses often come as bonus cash, free bets, or a combination of the two. We’ll illustrate how they work using the following example: You found a bookmaker that is offering a $10 no-deposit bonus, and you only need to open a new account to claim it. So, you open a new account and find that your bonus account has a $10 balance. As you might expect, you can’t just take the money and run. You will need to wager through that bonus amount several times before you can cash it out.

Wagering Requirements

You’ve seen us use the term “wagering requirements” a few times on this site. So, what exactly are wagering requirements? Simply put, it is a condition that you must meet before you can withdraw your bonus money. It involves wagering through the bonus amount a certain number of times. These conditions vary from bookie to bookie.

To illustrate, let’s say you got $100 in bonus cash, and the wagering requirement, or rollover, is set at 10X. This means that you need to wager 10 times the bonus amount. In this case, you have to place $1,000 worth of wagers to release the $100 bonus. You’ll find the specific wagering requirements in the bonus’ terms and conditions.

It is crucial that you know what the requirements are because they can be the difference between a truly great bonus and one that’s not worth the effort. For example, the same $100 bonus might be subject to a 50X rollover requirement. You’d need to place $5,000 worth of wagers to get your $100 betting bonus. A 50X rollover is much harder and takes longer to satisfy than a 10X rollover.

FAQs

What is the difference between the sports bonuses?

The main difference is the type of bonus being offered. Bonus cash offers give you free money to play with. Free bets let you make a wager and win money without risking any of your own money. With risk-free bets, the bookmaker will refund your wager amount if your bet loses. You must also consider the actual value of the bonus and the wagering requirements.

How can I make the most out of my sports deposit bonus?

First, you should come up with an amount that you wish to deposit. Then you must find a deposit bonus that allows you to get the maximum value in relation to your deposit amount. If you plan on depositing $100 and you see a 50% match deposit bonus up to $500, your $100 deposit would net you $50 in bonus cash. Now, let’s say another bookmaker is offering a 100% match deposit bonus up to $100. Your $100 deposit would net you $100 in bonus cash giving you maximum value. Understand that some bonus offers are aimed at high rollers while others are aimed at recreational bettors. Don’t forget to consider the wagering requirements and other conditions.

What’s the best sports bonus?

Rather than thinking in terms of what sports betting bonus is the best, think about which one is best for you. Which one can you get the most value out of? If you are the type that is comfortable depositing $100 and placing $5 bets, you’re not going to get maximum value out of a 25% deposit bonus up to $1,000. You would only get a measly $25 in bonus cash. Instead, you should choose a bonus along the lines of a 100% match deposit bonus up to $100, or at least a bonus that gives you more than $25. It shouldn’t be too difficult because there are so many bonuses out there.

Can I withdraw the funds in my main account before I clear a bonus?

Generally speaking, no. Not unless you want to forfeit the bonus. Most bookmakers have strict rules regarding the withdrawal of funds while actively engaged in a bonus offer. However, there are a few exceptions. This is another reason why you should always understand the terms and conditions that are attached to any bonus offer you plan on participating in.

Conclusion

While making a profit through sports betting is a challenge, many people have done it. Finding a bookmaker that has a great welcome bonus along with reload bonuses and other regular promotions will definitely give you a leg up.

The welcome bonus gets you off to a flying start while reload bonuses, cashback, odds boosts, free bets, and risk-free are immensely helpful to your bottom line over the long run. Remember to check out our bookmaker bonuses to find the latest and greatest bonuses for you.