With legal online sports betting just on the horizon in Florida, now’s the time to learn everything you can about betting and maximizing bonuses. This guide will give you a rundown on the types of betting bonuses you can expect to get and introduce you to which sportsbooks have the best bonuses. Finally, we’ll answer some of the questions we frequently get about sports betting.
Every type of Florida sports betting bonus
When you sign up with an online sportsbook in Florida, you’ll instantly gain access to extra betting credits through perks and bonuses. Nearly all sites offer welcome and sign-up bonuses, making these the most common bonus across all legal betting sites.
While it’s true that sportsbooks offer welcomes bonuses as a way to draw in new customers, not all sportsbooks offer the same types of welcome bonuses. They can take the form of risk-free bets, deposit matches, and no-deposit bonuses.
Other sites offer bonus promotions, such as a loyalty program to incentivize bettors to deposit more money. Let’s take a closer look at each type of betting bonus and explain what each one means.
Top sports betting bonuses in Florida
Below you can read more about the top sports betting bonuses in Florida, to learn more about what they mean and what you as a betting player can get out of them.
Risk-free sports betting bonuses
Florida online sportsbooks offer their customers risk-free betting bonuses as a sign of good faith that they value their customer’s business. Risk-free bets assure that your first bet will be automatically refunded if you end up losing. This way, you can get a feel for the sportsbook without risking money.
Normally, sportsbooks put a limit on how much you can bet using a risk-free betting bonus, but it’s typically quite high. For example, FanDuel offers risk-free betting bonuses worth up to $1,000 for their new signees.
However, once you use the bet, it’s gone. Risk-free betting bonuses are a one-time offer that can’t be spread across multiple bets. Therefore, it incentivizes players to deposit more money at the start so they can place higher bets without the risk of losing.
Free bet sports betting bonuses
Although they sound about the same, free bets and risk-free bets are different types of bonuses. Essentially, free bets exist independently from your first bet. So, for example, as soon as you make a deposit, you unlock a free bet, which you can then use play.
For many online sportsbooks, your free bet will typically match your original first wage, sometimes up to 100%. Other sites offer flat rate free bets as soon as you sign up for their platform and make a deposit. For example, DraftKings offers new signees a free $50 bet on sign-up.
Free bet on sign-up
Once you have signed up, confirmed your account and deposited funds to your bankroll, DraftKings will then unlock a free $50 bet. You can use this bet to place a wager wherever you want. If you win the wager, that money becomes yours, so you get to play without the risk of losing your own $50.
Free bets normally come with a few caveats, though:
- They’re typically time-bound, meaning you’ll have to use them within a set period. The industry standard seems to be around 30 days after you unlock the promotion.
- You can only collect the profit from the bet, not from the entire stake of a bet. For example, if you used a $50 free bet on a wager with +100 odds, you’d only walk away with $50 profit rather than the $50 profit and $50 stake.
These details should be fully clarified in the terms and conditions when you unlock the bonus.
Deposit match sports betting bonuses
Deposit match bonuses also incentivize new players to deposit more money into their accounts on sign-up. A deposit match bonus grants players extra betting tokens based on their first deposit using a percentage rate. Therefore, higher deposits grant more bonus credits.
The total percentage varies from sportsbook to sportsbook, but some platforms offer deposit match bonuses up to 100%, basically doubling however much you deposit into your account on sign-up. However, deposit match bonuses typically come with some playthrough requirements.
Sportsbooks don’t want you to sign up, deposit some money, and then immediately walk away with your deposit match, so they require you to play through a certain amount of your deposit before they grant the bonus. So, for example, you may just have to place a single bet before unlocking the bonus.
Not all sites use such a simple process, though, so be sure to read through the terms and conditions on sign-up, so you know how to use the deposit match bonuses.
No-deposit sports betting bonuses
No-deposit bonuses—also known as no-deposit free bonuses—are the only truly free bonus you can unlock on a sportsbook. The only requirement is that you sign up, register, and verify your account. The only downside is that you may have to deal with a sludge of spammy emails.
As soon as you’ve finished the registration and verification process, your new sportsbook will automatically credit a certain amount of bonus credits into your bankroll. As exciting as this sounds, though, don’t expect to make much off of a no-deposit bonus. They typically max out at around $25.
Likewise, no-deposit free bonuses typically come with a few additional terms and conditions:
- They are normally time-bound, meaning you must use them within a certain period—usually from a week to a month
- You must use free bonus credits all at once. You cannot divide them across multiple wagers
- If you win a wager using a free bet, you’ll only earn the profit from the win, not the profit plus the bet’s stake.
Essentially, no-deposit free sports bets work the same as the free and risk-free bets we explained above. The only difference is that you don’t have to deposit money into your bankroll to unlock the bonus.
Additionally, no-deposit-free sports bets normally don’t have rollover requirements. So once you put the bonus amount into play, you should be able to withdraw your winnings.
Using sports betting bonuses after sign-up
Many Florida sports betting sites offer sign-up bonuses to lure in new customers, but others prefer to offer their bonuses after you’ve played through a few wagers. Here are a few other types of betting bonuses you might find, depending on which sportsbook you sign up with.
Reload sport betting bonuses in Florida
Reload bonuses often kick into gear after you’ve placed your first bet. After you play, the sportsbook will then match however much you originally wagered using a free bet you can use for your next bet.
To give an example, imagine that you’ve just signed up for a sportsbook and immediately wagered $40 on the Miami Dolphins. After placing that bet, your sportsbook would then credit an additional $40 bet which you could place just about anywhere.
However, based on what we’ve explained about other bonuses, you can probably guess that you won’t win the stake from these bets. You’ll only get the profit if you win. The only other downside to this type of bonus is that some sportsbooks add a rollover before you can withdraw the money.
Referral bonuses at betting sites in Florida
Sportsbooks offer bonuses as an incentive to draw in new customers. Therefore, if you’re able to bring in new players with a referral code, you’ll be rewarded with additional bonuses. But, of course, this comes with a few terms and conditions:
- The friend you’ve referred will have to deposit some money to their bankroll before you can unlock the referral bonus.
- Your friend may also have to place a bet with their own money before you can unlock the referral bonus.
- The amount of credit you receive is often proportional to the amount of money your friend deposits into their account.
- Referral bonuses only go up to a certain amount. Even if your friend deposits $1,000,000 to their bankroll, you’ll hit the ceiling on how much you earn in credit.
Regardless of how large or small the bonus credit is, it can’t hurt to refer your friends to your favorite sportsbook. If your family or friends are interested in sports and want to make some money off of it, referring them to something you already use is an excellent way to spread joy.
Rebate betting bonuses in FL
Rebate bonuses—also known as “loss” bonuses—are both rare and something you don’t want to unlock too often. However, if you’re on a losing streak, you might stumble onto a rebate bonus as an incentive to keep you around.
Essentially, rebate bonuses offer players some of their money back after losing a significant amount of money. Like sign-up bonuses, rebate bonuses act as a sign of good faith, showing players that the sportsbook does truly care about your business and winnings.
No big win with rebate betting bonuses in Florida
Once you unlock a rebate bonus, you’ll earn back some of the credits you’ve bet on sports. This can change up how you bet as well as your overall strategy. Sometimes, your sportsbook may even make the bonus sport-specific, tying it to a particular sport.
As nice as they sound, don’t expect to earn much from a rebate bonus. Most of the time, you’ll only earn about 5% back on your wagers. While it is still nice to earn back some of your losses, it’s more of a gesture from the sportsbook, hoping to keep you around.
Sportsbooks with the best sports betting bonuses in Florida
Here, we’ve gone ahead and listed which online sportsbooks in Florida offer the best betting bonuses.
Although it’s a younger sportsbook, FOX Bet is a part of the more well-established Stars Group of online sportsbooks. Currently, you can earn a free bet valued up to $500 when you sign up and verify your account on their website.
When you sign up, go to their promotions page and click the tab that says “The first bet on us.” They’ll then ask you to register for the bonus. Once registered, view the challenges and opt-in. Then, you can use the bet for your next playthrough.
BetRivers Florida currently offers new members a deposit match valued up to $250. This is a 100% deposit match, too, meaning that no matter how much you deposit, they’ll double that amount, up to $250.
After signing up, verify your account and then deposit some money into your bankroll. They will automatically match your deposit, which you can then use for your first bet. Best of all, BetRivers only has a one-time playthrough requirement. So after playing just once, you can withdraw your profits.
If you’re looking for a new sportsbook, BetMGM Florida is currently offering not one but two different sign-up bonuses. When you register, they offer two different bonus codes that unlock a $1,000 risk-free bet as well as a $1,000 deposit match.
You can use these bonuses to double your bankroll, up to $1,000, then place an additional risk-free bet using the money they’ve doubled. This makes BetMGM an attractive offer for new players with large bankrolls.
Like BetMGM, DraftKings Florida currently offers two different sign-up bonuses for new members. After registering and verifying your account, you can use their bonus promo code to unlock a no-deposit free bet worth $50, as well as an additional 100% deposit match up to $1,500.
This is one of the highest deposit matches you’ll find on any sportsbook, so if you have some extra cash to spare, DraftKings is willing to double it up to a pretty substantial amount.
FanDuel Florida is also currently offering deposit matches for new customers, although they’re quite a bit lower. After registering and verifying your account, they will match your deposit by 20%, up to $500.
Similar online sports betting bonuses in Florida
FAQ’s About sports betting bonuses in Florida
How should I use online sports betting bonuses in Florida?
A lot of new players use their bonuses to place long-shot bets that could potentially pay out a substantial amount. Ideally, though, you should try using your bonuses to place bets that you expect to win. This way, you walk away with an actual profit.
Where can I find more promotions online?
Most online sportsbooks make their promo codes public. Check on their website under the “Promotion” tab. Additionally, you can sign up to receive emails whenever they release new bonus codes.
Can I ignore a betting bonus?
Yes, you don’t have to claim a betting bonus. Most sportsbooks include an option you must click to opt into betting bonuses. If you don’t opt-in, they will not be applied to your bankroll or account. If you cannot find the opt-in/opt-out option, just email them to opt-out.
Why do sportsbooks offer betting bonuses in Florida if it costs them money?
Bonuses act as an incentive to bring in new customers and a sign of good faith from the sportsbook to the user. In addition, they reward customer loyalty and encourage new members to play through their bankrolls.
Do all online sportsbooks offer sports betting bonuses in Florida?
All the good ones do. If you find an online sportsbook in Florida that doesn’t offer bonuses, we don’t recommend using it. Stick to sportsbooks that reward their customers.