Canada Sports Betting Bonuses: Best Offers & Promos for April 2025

A good sports betting bonusis an exciting promotion offered by asports betting site. These bonuses are available in a huge variety of different kinds, each offering new opportunities to win big. Let’s kick things off with the top sports betting bonuses available to Canadian bettors: 

Top Sportsbook Bonuses in Canada

10

Open Account offer bet365 don't do ordinary, that's why if you sign up now you'll get the choice of two great New Customer Offers, the First Bet Safety Net up to $1000 or Bet $10 and Get $50 in Bonus Bets. So, whatever the sport, whatever the moment, it's Never Ordinary at bet365. Deposit required. Bonus Bets wager excluded from returns. T&Cs, time limits and exclusions apply.

Best Sportsbook Bonuses

SportsbookBonusBest for
Betovo100% Match up to $1,200 Across First 3 Deposits High-value bonus spread across multiple deposits 
10bet125% Match Bonus up to C$250 + C$10 Free Bet Bigger-than-usual percentage match
Bet365First Bet Safety Net up to $1,000 New bettors who want a risk-free first bet
BetwayUp To $200 If Your First Bet Loses + 50 Bonus Spins A risk-free first bet with a mix of sports and casino betting
NEO.betA Three-Part 100% Deposit Bonus up to C$400 Bettors who prefer flexibility in their bonus structure
Tonybet100% Deposit Match up to $350A balanced welcome bonus without restrictive terms
888Sport100% Deposit Match up to $500 + $10 Casino BonusBettors who enjoy both sports betting and casino gaming
LeoVegasBet $25, Get $50 in Bonus BetsMobile-first bettors who value bonus bets
BetOspinPremium 125% Sports Bonus Up to C$5,000 + 20% Free BetHigh-rollers who love massive bonuses
PowerPlay100% Deposit Match up to $500Sizeable bonus to maximize their live bets

Betovo

Betovo

Betovo’s three-tiered welcome package, up to $1,200, is a real standout. You get a 100% match up to $375 on your first deposit, 75% up to $562.50 on the second, and 75% up to $262.50 on the third. The 6x rollover requirement is pretty reasonable as well.

  • Offer valid only for new customers making their first deposit.​
  • Minimum deposit: $15.​
  • Bonus credited immediately after deposit.​
  • 6x rollover requirement on deposit and bonus amount.​
  • Bets must have minimum odds of 1.59 to count towards rollover.​
  • Rollover must be completed within 30 days.​
  • Cashed out or voided bets do not count towards rollover.​
  • Promotion applicable only to Sports and Live Sports sections.​
Bonus OfferUp to $1,200 (3 deposits)
Minimum Deposit$15
Payout Speed1-3 Business Days
Wagering Requirement6x (odds 1.59+)
Expiry Date30 days
100% Up To $375

10bet

10bet

This 125% match bonus up to C$250, plus a C$10 free bet, is a solid offer. The higher-than-usual match percentage gives you extra value, and the 5x wagering requirement is fair. If you're looking for a strong start without strict conditions, this promo is worth considering. 

  • Minimum deposit: $15.​
  • Bonus code "CA300" must be used during deposit.​
  • Deposits via Skrill and Neteller are excluded.​
  • 5x wagering requirement on deposit and bonus amount.​
  • Single bets must have minimum odds of 1.8; combo bets require each selection to have odds of 1.4 or higher.​
  • Over/Under, Cashouts, System bets, and Draw No Bets do not count towards wagering.​
  • Wagering requirements must be met within 30 days.​
Bonus Offer125% up to C$250 + C$10 Free Bet
Minimum Deposit$15
Payout Speed1-3 Business Days
Wagering Requirement5x (single: 1.8+, combo: 1.4+)
Expiry Date30 days
125% Up To C$250 + C$10 Free Bet

Bet365

bet365

Bet365's first bet safety net (up to $1,000) is one of the best risk-free offers out there. If your first bet loses, you get refunded in bonus funds, which takes a lot of the pressure off. It’s a great way to start betting without worries. 

  • Available to new customers who open an account and make their first deposit.
  • Minimum deposit: $10.
  • If the first bet loses, the stake is refunded in bonus funds.​
  • Wagering must be completed within 30 days.​
  • Bet Credits will be forfeited if no account activity for 90 days.
Bonus OfferFirst Bet Safety Net up to $1,000
Minimum Deposit$10
Payout Speed1-3 Business Days
Wagering RequirementMust wager bonus funds before withdrawal
Expiry Date30 days
First Bet Safety Net up to $1,000 or Bet $10 and Get $50 in Bonus Bets

Betway

betway

Betway offers $200 back if your first bet loses, plus 50 bonus spins on the 12 Masks of Fire Drums slot game. This is a great way to start without too much risk—a simple, no-nonsense offer that gives you a second chance on your first bet while tossing in some extra spins for fun. 

  • Minimum deposit: $10.​
  • To qualify, you must select “Free Bet Refund & Cash Spins Welcome Offer” at sign up.
  • Bonus funds must be wagered through before withdrawal can be made.
  • Wagering requirements must be met within 7 days.​
  • Bonuses are only permitted one per household/address/email address.
Bonus OfferUp to $200 If Your First Bet Loses + 50 Bonus Spins
Minimum Deposit$10
Payout Speed1-3 Business Days
Wagering RequirementMust wager bonus funds before withdrawal
Expiry Date7 days
Up To $200 If Your First Bet Loses + 50 Bonus Spins

NEO.bet

neo-bet

This three-part 100% deposit bonus (up to C$400) lets you spread your bonus over multiple deposits—you get C$200 on the first and C$100 on the next two. With a 5x rollover over 100 days, there’s no rush, which makes it one of the more flexible bonuses out there. 

  • Minimum deposit: $10.​
  • Bonus applies to deposits made via Credit Cards, Paysafecard, MuchBetter, Interac Online, and Interac e-Transfer.​
  • 5x turnover requirement on deposit and bonus amount.​
  • Bets must have minimum odds of 1.5.​
  • Turnover requirements must be met within 100 days.​
  • Bonus cannot be used in conjunction with other offers.​
Bonus Offer100% up to C$400 (3 deposits)
Minimum Deposit$10
Payout Speed1-3 Business Days
Wagering Requirement5x (odds 1.5+)
Expiry Date100 days
$400 Welcome Package

TonyBet

tonybet

TonyBet's 100% deposit match up to $350 is a no-nonsense, fair-value offer. The wagering requirements are reasonable, and the bonus is big enough to give your bankroll a nice boost. If you want a straightforward welcome bonus, this one fits the bill. 

  • Minimum deposit: $15.​
  • Bonus and deposit amount must be wagered 10x.​
  • Minimum odds of 1.5 for qualifying single bets, and 1.7 for combo bets.​
  • Wagering requirements must be fulfilled within 14 days.​
  • Offer valid only for new users.​
  • The received free bet bonus must be placed on a multi with at least three different odds.
Bonus Offer100% Deposit Match up to $350
Minimum Deposit$15
Payout Speed1-3 Business Days
Wagering Requirement5x (single: 1.5+, combo: 1.7)
Expiry Date14 days
100% Up To $350

888Sport

888sport

This offer of a 100% deposit match (up to $500) plus a $10 casino bonus is a solid mix if you like both sports betting and casino games. I found this offer great for jumping between the two, and the sportsbook itself is one of the better ones out there.

  • Minimum deposit: $10.​
  • Bonus funds must be wagered 6x with cumulative odds of 1.5 or greater.
  • Casino bonus subject to additional playthrough.
  • All wagering must be cleared in 60 days or under.
  • Virtual sports bets don’t count toward wager requirements.
  • Cashed out bets don’t count toward wager requirements.
Bonus Offer100% up to $500 + $10 Casino Bonus
Minimum Deposit$10
Payout Speed1-3 Business Days
Wagering Requirement6x (odds 1.5+)
Expiry Date60 days
100% Up To $500 + $10 Casino Bonus

LeoVegas

leovegas

Instead of a traditional deposit match, LeoVegas’ offer lets you bet $25 and get $50 in bonus bets—an easy way to double your betting power without having to deposit a lot. Plus, their mobile app is one of the best, making this a great option for bettors who prefer betting on the go. 

  • Minimum deposit: $10, but need $25 to claim bonus.
  • Bonus funds must be wagered 10x on qualifying bets with odds of 1.8 or greater.
  • Must make $500 in bets to clear $50 bonus funds.
  • Bonus bets must be used within 7 days.
  • Bonus bets must be used in full, not split.
  • Winnings from bonus bets paid as withdrawable cash.
Bonus OfferBet $25, Get $50 in Bonus Bets
Minimum Deposit$25
Payout Speed1-3 Business Days
Wagering Requirement10x (odds 1.8+)
Expiry Date7 days
$50 In Free Bets When You Bet $25

BetOspin

betospin

A welcome bonus of up to $5,000 plus a free bet sounds massive, and it is—but the 13x rollover within seven days is tough. If you’re a high-stakes bettor who loves a challenge, this could be a fun way to try and cash in big. 

  • Minimum deposit: $20
  • Bonus funds must be wagered 13x on qualifying bets with odds of 1.5 or greater.
  • Bonus expires in just 7 days
Bonus OfferPremium 125% Sports Bonus up to C$5,000 + 20% Free Bet
Minimum Deposit$20
Payout Speed1-3 Business Days
Wagering Requirement13x (odds 1.5+)
Expiry Date7 days
Premium 125% Sports Bonus up to C$5,000 + 20% Free Bet

PowerPlay

PowerPlay

PowerPlay offers a formidable 100% deposit match up to $500, paired with one of the best live betting platforms in Canada. If you love in-play betting, this bonus gives you plenty of extra funds to work with.

  • Minimum deposit: $5
  • Free bets are available to new players on their first two sports bets.
  • Bets must be on odds of 1.5 or greater.
  • Minimum bet of $5 on any single or multiple market to qualify.
  • Odds of the bet must be 3.0 or greater.
  • Players can’t back both sides of the same event.
  • Bonus expires in 30 days.
Bonus Offer100% Deposit Match up to $500
Minimum Deposit$5
Payout Speed1-3 Business Days
Wagering RequirementMust wager bonus funds before withdrawal
Expiry Date30 days
100% Bonus on First Deposit up to $500

Types of Bonuses and Promotions

Canadian bettors can choose from a huge number of different operators who offer a multitude of betting bonusesandbetting promotions. While some operators do offer unique promotions, there are several types of promotions that are more consistently available, such as welcome bonuses, deposit matches, and free bets.  

Following is my breakdown of what these and other types of promotions entail, so you can understand the available options and how they can benefit you.  

Sports Betting Welcome Bonus

Welcome bonus

Most sportsbooks offer a Welcome bonus as a way to entice you to join up with them and give you a promotion that will help you start gambling. This bonus can entail various types of offers, fromfree betstodeposit match bonuses. 

A deposit match bonus is the most typical form of a welcome bonus, but some operators offerwelcome bonuses with no deposit. In general, though, a welcome bonus is simply a one-time bonus for when a user signs up for a new operator. 

Sports Betting Deposit Match Bonus

Deposit match bonus

A deposit match bonus is one of the best bookmaker bonuses out there, because it can provide you with a significant amount of extra cash to play around with.A deposit match bonus comes when an operator matches your deposit up to a certain amount—for example, if you deposit $100, you’ll then have $200 in your gambling account because the depositor matched it.  

You can’t just withdraw the matched money immediately, as that would obviously be bad business for the operator, but after a certain amount of time or money spent with the bookmaker, you can withdraw the money, as well as the profit from your matched deposit.

Sports Betting Deposit bonus

Deposit bonusRather than matching your deposit, some deposit bonuses entail a fixed bonus you’ll receive for depositing a set amount of money. An example of an online betting deposit bonus would be a $40 deposit bonus on deposits of $50 and up.These bonuses dont have to be on your first deposit, so theyre something to keep an eye out for. 

Sports Betting No Deposit Bonus

No deposit bonusA no deposit bonus is a promotion that you can claim without even having to deposit money with the gambling operator. These bonuses are typically somewhat smaller than a deposit or a matched bonus, but they are stilla great free reward you get for simply joining an operator. 

Sports Betting Cashback Bonus

Cashback bonus

Cashback promotions are also available on many sportsbooks. Typically, they are centered around a certain event or a certain type of bet, with the aim of mitigating some of the risk on your bets.  

A cashback bonus will offer a certain percentage—for example, a 25% return on parlay bets that don’t hit. This means that, if you make a bet on a parlay that doesn’t hit, you will be refunded 25% of what you lost on the parlay.  

This bonus benefits you significantly, because it lets you add 25% to whatever you are willing to lose on a bet—after all, you will automatically get that much back.

Sports Betting Specials

specials bonusOnly a few sites offer sports betting specials, which are betting opportunities on markets that aren’t sports-related. You can place special bets on things like the Academy Awards, reality TV, the New York Mayoral race, or many other events—anything not sports-related. Specials can earn you some cash because they are so unpredictable even oddsmakers can’t truly know what will happen in these often-random events. 

Sports Betting Loyalty Bonus – VIP Program

Loyalty bonusThis sportsbook bonus is intended to reward customers for consistent use of their betting site. A loyalty bonus/VIP program allows you to accrue points by placing bets, which can result in rewards like new bonuses or prizes, with different amounts of bets being worth different amounts of points depending on the operator. 

Sports Betting Refer-a-Friend Bonus

refer a friend bonusThisonline betting bonus lets operators reward you for bringing a new user on board. If you are using an operator you like, and have a friend who wants to start,most operators will reward you if you get someone to sign up using a referral code. The amount offered depends on the operator, but this reward is an easy way to make some extra money if you know anyone looking to start gambling. 

Free Bets

free betsFree bets are a sportsbook bonus that offers you a chance to make a free, and therefore risk-free, bet of a certain amount on a game.  
Typically, a sportsbook will list the amount of thefree bet offered, and any limitations on that type of bet. It is a very straightforward promotion and worth jumping at, since it is literally just a free bet, where any profit will go directly to your account. 

Reduced Juice

Reduced juice

Reduced juice is an extremely important bonus , so always try and take advantage of it when you see it. This bonus offers you a chance to bet on events with a chance to win more than you normally would owing to lower commission (“Juice” refers to the commission operators take on the typical bet). 

This can be a confusing promotion for beginners, but basically, the prototypical odds for a point spread or puck line is -110. Reduced juice lowers this to -107 or -105, which means that you can win more money betting on things that, according to the oddsmakers’ prediction, are just as likely to happen as they are to not happen. 

Simply put, this increases your odds slightly and takes away some of the juice from the operators, creating a more favourable situation for you.  

Casino Bonuses – Free Spin Bonus

casino bonus

Bonuses aren’t just for sports betting—many online sports betting operators double as virtual casinos and offer plenty of great casino promotions. One typical bonus is the free spin bonus. Operators will often offer a certain number of free spins at the virtual slot machines, which gives you a free opportunity to make some money. While these bonuses are very common, different operators offer them on varying occasions. Some offer them upon sign-up, some on seasonal occasions, and some just at random. 

This list includes only some of the best sportsbook bonuses – there are tons of different and unique offers that sportsbooks offer for special events and random occasions. If you want to have access to these offers and remain updated, opt in by checking the box for Send me Bonus Offers when signing up with an operator. 

Betting Bonuses Terms and Conditions

As I’ve mentioned before, promotions aren’t always as perfect as they appear at first glance. Most gambling operators apply a long list of terms and conditions to their promotions, and these can change the equation entirely. 

This is why it's crucial to take a few minutes to read the terms and conditions and make sure you fully understand all aspects of the bonus you are trying to receive. Sportsbooks are obligated to display the rules and terms of each bonus, and unless you want to get roped into a promotion where you stand to actually gain very little, you’ll want to read them. 

A lot of promotions have specific rules you must follow to be eligible, and failing to follow these can cause you to miss out on the money. This is why examining the rules and, of course, the terms and conditions, is an absolute must. 

Below is a list of some typical terms and conditions you might find: 

Time Limits

Bonuses and promotions sometimes have time limits. Some bonuses require that you make a deposit within a certain period, and other times you’ll get a bonus with your deposit and be given a specific time frame in which you’ll need to use it—after that it disappears from your account. Knowing the time limit is crucial if you don’t want your bonus to expire. 

Minimum Odds

Minimum odds are a restriction that gives you the lowest odds you can bet on before you can turn your bonus money into real money. The typical range is between 1.50 and 2.00 (in decimal odds). Bets below this amount will still be accepted, but they won’t factor into the rollover. 

Game Limits/Limitations

There are limitations on the bets you can use your bonus funds for. For example, with many promotions you will only be able to bet your bonus money on certain sporting events, while other casino bonuses will restrict free spins to certain slot games. These limitations allow operators can pick and choose how you use your bonus money; for example, letting you spend your bonus money only on one big sporting event to guarantee they have plenty of action on one big game or tournament. 

Win Limits

Another important restriction to check is the maximum win limit. Some offers put a limit on what you can win, meaning you won’t be able to cash out anything over the specific win limit. For example, some free spins won’t let you win more than $30 off $40 worth of free spin. Win limits keep the operators from going too far into the red off bonuses. This restriction can really hamper your ability to make a profit off bonuses – yet another example of why it is important to check the fine print. 

Rollovers and Wagering Requirements

A“Rollover” is a type of wagering requirement that refers to the total amount of money you’d have to spend before you can withdraw the money from a bonus such as a matched welcome deposit. Each operator has different requirements before their bonus can be turned into real money.   

Wagering requirements are typically a multiple of the bonus, so you’ll need to spend a few times the amount of money in the bonus to actually receive it. For example, you might encounter a $70 bonus with a 5x requirement. Sometimes your deposit will already be included in this calculation, which makes the amount of money you need to gamble much higher—but for this example, let’s say the requirement is just on the bonus. 

That would mean you need to bet $70×5 = $350 to be able to withdraw the bonus. These requirements are listed in the terms and conditions, and rollover is especially important to keep in mind, as some sportsbooks offer very high rollover.

Sports Betting Promo Codes

Promo codes serve as gateways to exclusive bonuses and promotions offered by sportsbooks. You’ll enter these codes, typically a combination of letters and numbers, during the sign-up process or when making a deposit to unlock special offers from sportsbooks. By entering a specific code, you can access benefits such as bonus bets, deposit matches, or boosted odds.  

I love promo codes because they’re a great and non-obvious way to boost your initial bankroll by providing extra funds or bets. It's a great way to familiarize yourself with a new sportsbook and what it has to offer for little to no risk.  

Of course, not every sportsbook needs promo codes for bonuses, and some will actually apply them automatically when you make a qualifying deposit. But, from what I’ve seen, many top sportsbooks in Canada use promo codes for their best deals—so always check the promotions page to snag those valuable offers. 

To help you get a head start, here are some exclusive promo codes available only here at BettingTop10 Canada: 

SportsbookBonusPromo Code
Hot.Bet100% Up To C$300 Welcome BonusBET300
TonyBet100% Up To $350tonyca10
BetOspin125% Sports Bonus up to C$5,000 + 20% Free BetBTCA-BETOSPIN
Spinoli100% Up to C$375 + 100 Free SpinsWELC250
BetPlays120% Bonus + 20% Free BetBP5000
PalmSlots200% Up To C$150PALMBET200

Ontario Sports Betting Promos

Sports betting in Ontario has changed in many ways since becoming provincially controlled, but one thing that remains the same is the Ontarian love of a good bonus. With websites like Sports Interaction and Betway becoming provincially regulated, the number of Ontario sportsbook bonuses and promos has skyrocketed.  

Ontario sports betting, available with operators like LeoVegas and PowerPlay as well as dozens of others, is controlled within the province. This means Ontarians don’t need to wager with offshore operators to find the best Ontario sports betting promos—they have access to exclusive Ontario betting promos offered especially to them.   

Ontario betting promos aren’t that different from any other province—you’ll find many Ontario sportsbook sign-up bonus offers, free bets, bet boosts, and more. Since Ontario betting is now regulated by the government, there have been some concerns that bonus offers will diminish—but happily, they are stronger than ever.  

Make sure you never miss out on the fun by staying up to speed on all the latest information about the best Ontario betting promos, right here at BettingTop10. 

Tips & Strategies to Maximize Sportsbook Bonuses

Sportsbooks throw out a ton of bonus offers, but if you don’t know how to use them properly, you’re leaving money on the table. I’ve been through enough promos to know that a little strategy goes a long way. Here’s how to get the most out of your bonuses: 

  • Read the fine print: Before you jump on a bonus, always check the terms. Wagering requirements, minimum odds, time limits—these details make or break a promotion. If a bonus looks too good to be true, chances are, there’s a catch. 
  • Use matched betting to lock in profits: If you’re serious about squeezing value from free bets, matched betting is a game-changer. I’ve used this strategy to guarantee profits by placing opposing bets on different platforms. It takes some effort, but once you get the hang of it, it’s basically free money. 
  • Go for higher odds with bonus bets: Since you don’t get to keep the stake on a bonus bet, there’s no point using it on low-risk wagers. I aim for odds in the +200 to +600 range—high enough to be worth it, but not so crazy that it’s a total long shot. 
  • Manage your bankroll like a pro: I can’t stress this enough: don’t blow your bankroll chasing bonuses. Stick to a plan—betting 1-2% of your total bankroll per wager is a smart approach. If you go all-in on a single promo, you’re asking for trouble. 
  • Keep an eye on new promos: Sportsbooks change their promos all the time, and the best offers don’t always last long. I make a habit of checking promo pages regularly and signing up for emails, so I don’t miss out on reload bonuses, free bets, or odds boosts. 
  • Avoid rookie mistakes: Bonuses can be a trap if you don’t use them wisely. Don’t force bets just to clear wagering requirements, and don’t assume every big bonus is actually worth it. And above all—only bet with trusted, licensed sportsbooks. If a deal feels sketchy, walk away. 

How We Rank the Best Sportsbook Promos

The team at BettingTop10, including yours truly, takes a personal and thorough approach to ranking sportsbooks. We know that understanding sports betting bonuses can be tricky if you don't know what to look for, and we aim to make sure you get honest and useful recommendations that fit your betting style. Here's our process:  

  • Promotion Variety and Value: We carefully check out the promotions each sportsbook has to offer. Our goal is to make sure you’re getting the best value and we focus on the quality of the deals to ensure you're getting your money’s worth. 
  • Terms and Conditions: It’s all in the details. We go through the terms and conditions of every promo to make sure there are no surprises that could mess with your betting experience. We’re all about being clear and pointing out any possible downsides or benefits. 
  • Ease of Use: We take a look at how easy it is to find promotions, claim bonuses, and meet any wagering requirements. 
  • Payout Speed and Reliability: Getting your winnings quickly and without hassle is super important. We check how fast and smoothly sportsbooks handle payouts so you’re not left waiting forever for your rewards. 
  • Customer Support: Great customer support can really make a difference. We check how available, responsive, and helpful the support team is, so you’ve got backup if any issues pop up while dealing with promotions. 

Why Trust Our Rankings?  

Our rankings are backed by years of experience and a genuine passion for the industry. Here's why you can count on me and on the rest of the team here at Bettingtop10: 

  • In-Depth Knowledge: We live and breathe sports betting. Our team stays up to date with the latest trends, industry changes, and emerging platforms to provide you with current and relevant information. 
  • Unbiased Reviews: Our reviews are honest and impartial. Integrity is key for us—we assess everything based on merit and user experience. We don’t play favourites; we genuinely want to provide dependable insights that you can trust.   
  • Personal Touch: We’ve been in your shoes and we understand the excitement and challenges that come with online sports betting. Our personal experiences shape our reviews, making them relatable and practical. We approach each review with the mindset of a fellow bettor and genuinely want you to feel confident every step of the way. 
  • Read Our Ranking Methodology 

Canada Sportsbook Bonuses FAQs

Once you start looking for bonuses and promotions, finding them is quite easy. Most sportsbooks have a “bonuses and promotions” tab that you can click on to see what they are currently offering, and when you sign up with your favourite sportsbook, you can choose to receive new offers from them via email. 

No. When an operator places wagering requirements on their bonuses, there is really nothing you can do about it. Wagering requirements are necessary for the operators to profit off their bonuses, so they are heavily enforced and entirely unavoidable in our experience. 

Different bonus can impact you differently, depending on how you bet. Welcome bonuses and matched deposits will provide you with more bonus money than just about any other bonus—depending, of course, on what the operators' limits are. 

Some will match deposits up to 4 digits, which makes for a lot of bonus cash to play around with. Reduced Juice is especially loved by pros, because it increases their odds by a margin that makes some bets a lot more enticing. 

As we've mentioned, you can sign up to receive bonus notifications via email from many operators, but if you aren't interested in cluttering your inbox, you can always check websites. Big sporting events typically have promotions that coincide with them, so for theSuper Bowl, March Madness, or World Cup type events, check with your favourite operator, and chances are they'll be offering a bonus. 

Just about every operator offers a bonus of some kind. While certain bookmakers offer them more frequently or more generously than others, the vast majority of operators do try and entice users with bonuses, so if you've heard of an operator, it probably offers some kind of bonus or promotion. 

An unfortunate reality of bonuses is that they all sound a lot better than they typically are. Operators primarily focus on making money, so the terms and conditions of the bonuses they offer will typically take the shine right off the bonus. Being aware of this, and always looking at these terms and rules, will help you see the value of what they are actually offering, which is typically a lot lower than you might think.

A bonus balance is the sum you have in your bonus account. For example, if you do a matched deposit, and have $100 in your account, and $100 in your bonus balance, that means you have $200 to bet with, but only $100 of that is real withdrawable money. The bonus balance is subject to the wagering requirements and other terms imposed by the operators.

When you lose a bonus bet, the outcome depends on the specific terms and conditions of the sportsbook offering the bonus. Usually, you won’t get your stake back. This is because bonus bets are typically given as a promotional offer, and only the winnings from the bet are credited to your account, not the original stake.

The smartest way to use bonus bets is to maximize their value by placing wagers with higher odds, ideally in the +200 to +600 range. Since you don't keep the bonus bet itself, making bets with larger odds is the best way to maximize your returns. This generally means placing bets on underdogs or parlays with less favourable odds, which can yield higher profits if successful.

Rowan Fisher-Shotton, a passionate sports fan and seasoned journalist, hails from Hamilton, Ontario, Canada. Graduating with honours from Wilfrid Laurier University with a Bachelor of Arts in Criminology, Rowan has meticulously honed his skills to become an expert in the iGaming industry, specializing in sports betting analysis and professional sports coverage. Over the past several years, Rowan has developed a deep understanding of effective betting strategies and the dynamics of major leagues like the NBA, NFL, NHL, and NCAA. Now, as an expert in the field, he aims to provide insightful commentary and engaging content to help educate the casual sports bettor. In his off time, you can catch him hitting the gym, nose buried deep in a captivating read or on the hunt for that next winning parlay.