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Matthew Jones
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Matthew Jones
Last Updated:
December 1, 2020
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This author was thoroughly tested and approved by the experts at BettingBilly.com before joining the editorial board to ensure a high content quality.
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Matthew is a former journalist and entrepreneur. Before he turned 18 he'd already started an online-shop, grew it to more than $1m in sales and sold it. Together with Richard he is now in charge of BettigBilly. His specialties are gambling mathematics and creating winning betting strategies.
Matthew is a former journalist and entrepreneur. Before he turned 18 he'd already started an online-shop, grew it to more than $1m in sales and sold it. Together with Richard he is now in charge of BettigBilly. His specialties are gambling mathematics and creating winning betting strategies.

Best Sports Betting Bonus & Promotions in 2020

The biggest advantage of betting online is the availability of a great number of sports betting bonus offers. At Betting Billy, we have reviewed and listed dozens of the best betting bonuses available for US players. On this page, you can find a comparison of all the best betting sites and their bonuses as well as other relevant information. Check out Billy’s List for a detailed look into the best betting options and premium betting tips from our experts, completely free of charge.

Types of Betting Bonuses: These Offers you should Know

Online bookmakers go well out of their way to give their customers some extra value when placing bets. If you are new to online betting, you may not be aware of all the betting promotions that exist, but we want to make sure you know what’s waiting for you out there. The following types of betting bonuses are commonly offered to new players at US betting sites:

  • Deposit Bonus: These types of bonuses are offered to new players who decide to make a deposit. The bookmaker matches the amount deposited and provides players with extra cash that can be used to place real money wagers. These bonuses are subject to rollover requirements almost every time.
  • Risk-free Bet: Unlike deposit bonuses that provide instant cash, risk-free bets give players a chance to wager and get back the money if their bet does not win. Once you get refunded for your losing bet, you can use the money to place a wager and try to win back your initial deposit with another bet.
  • Free Bet: Unlike risk-free bets, free bets give you a chance to make an additional bet on top of the ones you made with your real money. This type of betting bonus is very popular with online betting sites and often given to new players when they make their first deposit.
  • Aside from the new player betting offers, online bookmakers also offer plenty of promotions for already existing customers. Some of the most popular types of existing customer betting promos include:
  • Loyalty Bonuses: Issued to existing players who bet with a bookmaker often. Loyalty bonuses sometimes require a new deposit and other times are issued to a bettor with no requirement.
  • Cashback: Cashback promotions give players a chance to get some of the money they lost back. If you lose over a period of 7 days at a cashback site, expect to find some cash in your wallet when you come back.
  • Mobile Bonuses: Players who bet on their computers can sometimes get additional bonuses if they switch to mobile betting. A mobile bonus will require you to login from your phone and make a deposit this way.

Wagering Requirements under Review

Players who sign up with online bookmakers are almost always rewarded in some way, but one should be careful when choosing which welcome bonus to pick. While most rooms offer some kind of sportsbook deposit bonus, players should be mindful of the terms and conditions associated with the actual offer.

In almost every case, the bookmaker will require the player to wager their deposit bonus multiple times before they are able to cash out any money. This is done in order to avoid fraud, but players who plan on playing fairly should be careful about excessive playthrough requirements.

Good news for American players is the fact that US based bookies normally have very reasonable wagering conditions, that range between 1x and 10x the total bonus. The best sportsbook bonus offers are those that only need to be wagered once, regardless of their size, as these bonuses are almost equivalent to an actual cash giveaway.

Aside from the wagering requirement, players should also be mindful of the wagering period, which is the time in which this requirement must be met. Usually, players will have a whole month or more to complete their wagering. Sometimes, players will also need to bet on games with certain minimum odds and some markets may be restricted depending on the bonus in question.

This Indicates a Good Sports Betting Bonus

When considering the idea of the best betting promotions, we can focus on several elements that make up such a promotion. The ideal betting bonus would be large in size, easy to rollover and generous in relation to the initial deposit. Here are the five things that can make one deposit bonus better than others:

  • Bonus Amount: The bigger the bonus, the better, and that goes without saying. If all the other terms are reasonable, players should always go for the biggest betting bonus they can get. Of course, a large bonus can be less favorable if the other terms are not as good. If you can afford to make a big deposit, you should aim for a bonus that will match as much of it as possible.
  • Bonus Percentage: The percentage of money that is given out in relation to the initial deposit is also quite important. Bookmakers usually give bonuses that are worth between 25% and 100% of the deposited amount, with more than 100% rarely offered. The higher the percentage, the less money you will need to deposit to get some solid bonus cash.
  • Free Bets: Some welcome offers come with cash and free bets combined. In such cases, the additional free bets should always be taken into consideration as they can easily turn into real cash with a single solid bet.
  • Wagering Requirements: As already discussed, sports betting bonus rollover requirements are of paramount importance. Bonuses with solid wagering conditions can be the perfect starting point toward building a solid and steady betting bankroll. The best bonuses will have a wagering requirement of just 1x, while anything past 10x can be considered fairly poor.
  • Bonus Time: Finally, you want to have plenty of time to complete any wagering conditions and that means that the overall bonus time can be a factor. Try to take on bonuses that give you sufficient time not to have to rush any bets in order to clear the bonus as that gives you the liberty to make the bets you want and have the highest chance of winning.

Top 5 Tips to Fulfill the Sportsbook Wagering Requirements

If you are new to sports betting and considering taking some sports betting bonus offers, we have some tips to make things easier for you. Since you will have to meet wagering requirements every time you take a bonus, use these tips to make sure you clear the bonus as quickly and effectively as possible:

  • Bet on your favorite sports: Betting on sports that you know a lot about is probably the best idea when trying to clear a betting bonus. The bets you make on sports and leagues that you know will yield better returns and in turn will help you complete your wagering requirement without losing money.
  • Mind those odds: Make sure you only bet when the odds are favorable. Sometimes a bet may seem like an easy win, but if the odds are bad it may not be worth making it. What’s even more, low odds may not even count towards your wagering requirement at all.
  • Don’t rush things: If you choose a bonus with a reasonable amount of time given for clearing the wagering requirements, there is no reason to rush anything. Take things slow and make bets when you find good choices that you believe can turn you a profit.
  • Use bankroll management: Good bankroll management is the backbone of any successful gambling endeavor. Make sure you never make massive bets compared to your bankroll and try to meet your wagering requirement one step at a time.
  • Billy’s List: Finally, don’t be shy to get some help! Billy’s List is our list of professional and regularly updated betting tips that are bound to help you on your journey. Sign up with Betting Billy and use Billy’s List to find the best betting picks of the day each and every day of the year.

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8 Reasons why the Bonus Can’t be Withdrawn

When you claim a sportsbook bonus you will be faced with the wagering requirements and some specific rules that will be stated on the operator’s website. When playing with licensed operators, it is the player’s responsibility to make sure they understand these conditions and the operator’s responsibility to adhere to them. Here are some of the most common mistakes that players make and reasons why they cannot cash out their money at online betting sites:

  1. Wagering conditions are not completed: Before you can make any cashout from an online betting site where you took a bonus, you will have to meet your wagering requirements in full. Make sure you know what the requirement is and wager enough before you ask for a cashout.
  2. Playing excluded games: Betting bonuses can come with certain restrictions. Sometimes betting on certain markets, sports or leagues may not count towards the wagering requirement, but you may still be able to make such bets and win money making them.
  3. Bonus period is expired: If you wait too long, you bonus might expire and your hard work may go down the drain. Make sure you know what the bonus expiration time is and make your bets within that time to meet the wagering requirements.
  4. Too late for the bonus: After signing up, most operators only offer the deposit bonus for a certain amount of time. Make sure to make your deposit within that period.
  5. Exceeded maximum winnings: Bonuses may allow you to make only bets of a certain size or with a certain maximum win per game. Make sure you are aware of these rules and make your bets within them.
  6. Using excluded payment methods: Some payment methods such as NETELLER, Skrill and PayPal may be excluded from certain promotions because of risk of fraud. In such cases, make sure you deposit from your debit card or using other payment methods.
  7. Multiple promotions: Trying to use your bonuses along with other sports betting bonus bets or promotions may lead to one of the promotions never becoming active because you can only have one active at a certain time.
  8. Wrong bonus code: Some bonuses may require you to use a sportsbook promo code in order to claim them. Make sure you get the right code here at Betting Billy before you try to claim any sports betting bonuses.

Legal Situation in the USA

Gambling in the USA has been under a lot of scrutiny for decades, with different laws passed at federal and state levels to limit or prohibit certain forms of gambling. The same went for sports betting, with the federal PASPA law prohibiting any sports betting in the vast majority of the country for many years.

Since 2018, sports betting was made legal in the USA, with each state able to make up its own set of laws for retail and online sports betting. Many states jumped at the opportunity and pushed betting bills and laws into power within the first two years. Today, players in over a dozen states can already bet on sports, with many other states soon to follow.

Players who live in one of the states that have already legalized sports betting have plenty to look forward to. With dozens of sports betting sites opening their doors, online betting promotions are ample and the stiff competition means that some of the most favorable betting bonuses are up for grabs.

The legal situation for sports betting in the USA is only getting better by the day, as new states are emerging in which betting is legal. The fast spread of retail and especially online sports betting means that players around the country will be getting more opportunities to grab some extra betting cash in the form of bonuses in the months and years to come.

Our Top 5 Sports Betting Sites

With so many sports betting sites out there, players have plenty of opportunity to choose. We have conducted detailed reviews of dozens of different sportsbooks in each of the states in which sports betting has been legalized and have rated them according to our 10 rating criteria. However, remember that the winner of our comparison does not have to be the best for you and make sure you check each site out and make up your own mind in regard to the quality of the service offered and your personal needs.

 
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Our Top 5 Betting Apps

As the sports betting spreads across the USA, sports betting apps are becoming increasingly popular. With mobile sports betting being the favorite way to bet for so many players, we have reviewed all the available mobile betting sites and given the appropriate ratings. Our rating does not necessarily represent the best betting app for you, but you can be sure that the top rated apps offer high quality of service and player safety above all.

 
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10 Important Question and Answers about Sports Betting