August is heating up, and so are the sportsbook bonus offers. The major sportsbooks are pulling out the stops to bring in new customers for the upcoming NFL season. Whether you’re a seasoned bettor or just dipping your toes into the market, we’re confident you’ll find a bonus off that is perfect for you.
In this first edition of our monthly power rankings, we’ll break down the best sportsbook bonus offers available, ranking them from the top spot down. We'll highlight what makes each bonus special, how they work, and what they're best suited for.
We think you’re going to love what these powerhouses have to offer.
Must be 21+. Please Gamble Responsibly. Gambling problem? Call or Text 1-800-GAMBLER.
At the top of the list is BetMGM’s First Bet Offer.
This bonus lets you make your first bet with a safety net of up to $1,500. If your bet loses, BetMGM will refund you how much you bet in the form of bonus bets.
What really makes this offer great is its high ceiling — $1,500. That’s one of the highest we’ve seen. It gives bettors the chance to win big right out of the gates, but it’s not exactly for everyone.
This offer is geared more toward seasoned bettors who are confident in their picks and want to go big.
Even if you’re just starting, this bonus still acts as an excellent safety net to experiment with larger bets than you might normally wager. The downside is that you only get it once. So, if you want to try out different bets or bet types, this isn’t the one.
The high value of this offer sets it apart. Most sportsbooks won’t dare go this high. A potential $1,500 in bonus bets is a massive backing, making it perfect for those looking to make a bold first move.
Must be 21+. Please Gamble Responsibly. Gambling problem? Call or Text 1-800-GAMBLER.
Bet365 offers flexibility with its "Choose Your Offer" promo. Both are excellent options, which is why this is the second spot.
You can either bet $5 and get $150 in bonus bets or opt for a first bet safety net of up to $1,000.
The choice here is key. If you're new to betting or just looking to play it safe, the $5 bet for $150 in bonus bets is a low-risk, high-reward option. We tend to see new sports bettors get in on this offer.
As for the second option, the first bet safety net of $1,000 works similarly to BetMGM's offer. It gives you a chance to go big, well, up to $1000, without worrying about losing your first bet. There’s still a chance you can lose the bonus bets as well, so we won’t call this risk-free.
The flexibility to choose makes this offer stand out from the rest. Whether you want to start small or swing for the fence, Bet365 has you covered. Just about any bettor can gain from either of these bonus offers, so Bet365 is definitely trying to cast a wide net.
Must be 21+. Please Gamble Responsibly. Gambling problem? Call or Text 1-800-GAMBLER.
Caesars takes up the third spot with its “Bet Up to $1,000 on Caesars” bonus offer. With this promo, new customers can place their first bet up to $1,000, and if they lose, they’ll receive the amount back in bonus bets. This offer mirrors the bonus structure of Bet365 and BetMGM, but it also comes with the reliability and prestige of the Caesars brand. Even if you’ve never placed bets at Caesars, we’re confident you’re at least familiar with the household name.
This promo is well-suited for mid-range bettors who want a fairly decent safety net but aren’t necessarily looking to bet the farm on their first bet.
With Caesars, you also get access to their excellent rewards program — Caesars Rewards — which gives you more benefits the more you play. You can even cash in your rewards for stays at their classy destinations around the nation.
While not as high as BetMGM’s offer, Caesars still provides a fairly nice safety net with the added bonus of their rewards program. It’s a solid, balanced offer that most sports bettors can’t refuse.
Must be 21+. Please Gamble Responsibly. Gambling problem? Call or Text 1-800-GAMBLER.
DraftKings offers a great deal with very little out of your pocket — you get your bonus bets instantly. After placing a $5 bet, regardless of whether your bet wins or loses, you’ll receive $150 in bonus bets. It’s as close as you can get to a no-deposit bonus offer without it actually being one. This guarantee of bonus bets right off the bat can be a huge advantage, especially if you’re not that confident about your first pick or just want to get some extra bets to play around with.
This offer is ideal for bettors who want immediate access to bonus funds. Once you have them, you can use them however you want, but you can’t withdraw them. You can, however, withdraw the winnings. The instant bonus bets after your simple $5 bet allow you to spread your chances across more games or props.
The instant nature of the bonus bets is a big plus, but they don’t carry the same potential as the higher offers on this list. We won’t scoff at $150, but it’s still not the high-dollar bonus offers some of the other sportsbooks offer. It’s perfect for those who value certainty and want to start betting right now.
Must be 21+. Please Gamble Responsibly. Gambling problem? Call or Text 1-800-GAMBLER.
In fifth place in our power rankings is FanDuel’s Bet $5, Get $150 If Your Team Wins offer.
This is a simple but sweet promotion where you only need to bet $5 on a team. If they win, you get $150 in bonus bets. The simplicity of this offer is its biggest strength. You don’t need to worry about losing large amounts, and the potential payout is much higher than it otherwise would’ve been. It’s eerily similar to the DraftKings bonus, but there’s a slight difference between the two. Hence, it’s 5th, and DraftKings is 4th.
While there’s a chance you can lose on your first bet, it would only be $5. This bonus offers almost acts as an odds boost but with a fixed dollar amount.
This promotion is best for those who like low-risk, high-reward opportunities. We think it’s perfect for new bettors who might be more comfortable starting with smaller amounts as they’re not as familiar or comfortable with sports betting.
The low-risk entry and the potential for a big reward make this a great option for beginners or anyone who prefers to keep their initial investments fairly small. This bonus typically only caters to a small set of sports betting market.
Must be 21+. Please Gamble Responsibly. Gambling problem? Call or Text 1-800-GAMBLER.
Betfred comes in sixth with its parlay-focused promotion. If you bet $25 on a parlay with three or more legs of a parlay, you’ll receive a $75 Fred Bet, regardless of whether your parlay wins or loses. A Fred Bet, for the uninitiated, is the same as a bonus bet but with a clever name.
This offer is tailored specifically for parlay enthusiasts—those who love slapping multiple bets together into one.
However, we’re generally skeptical of parlays. Sure, you can win, and you can definitely win big; they inherently favor the house. The odds are stacked against you in a parlay because all legs must win for the bet to pay out.
This offer is best suited for bettors with a bit more of a risk appetite and those who are confident in their multi-leg bets. The $75 Fred Bet can be used on any event, providing some flexibility on the backside of your parlay.
This offer is a niche, focusing on a specific type of betting. It’s not necessarily something every sports bettor would jump on. It’s great for parlay fans but not as versatile or widely appealing as the other promotions that top our list.
Must be 21+. Please Gamble Responsibly. Gambling problem? Call or Text 1-800-GAMBLER.
Last on the list is the Underdog Sportsbook's offer. It’s more of an honorable mention as it’s only available only in North Carolina. Of course, they might expand into other markets, but for the time being, NC is the only place Underdog Sportsbook operates in.
For their bonus, they’ll match your first deposit 100%, up to $100. While this bonus doesn’t offer the high stakes of some others on this list, it’s still a decent offer for bettors in North Carolina looking to double their betting power right out of the gate.
We love deposit matches, but you have to max them out to get the full benefit. You put in your money, and the sportsbook matches it. So, if you deposit $50, that’s all they’ll cover. You’ll receive $50 in bonus bets. However, if you max it out at $100, then you’ll receive the $100 in bonus bets.
This promotion is perfect for those just starting or those who prefer to stick to lower stakes. We tend to see this more with novice sports bettors, but there’s nothing wrong with that. The $100 cap, however, makes it less appealing for high rollers.
While the 100% match is appealing, there are only so many bettors in the Tar Heel State. The reach of this bonus is extremely limited until Underdog expands their operations elsewhere. Of course, we love the offer, but wish more can get in on the action.
As the sports betting industry continues to evolve with the seasons, these bonus offers give bettors huge opportunities to boost their betting experience.
Whether you’re aiming for a massive payout with BetMGM or looking to dip your toes in with DraftKings, there are all kinds of promotions that you might find you like.
With the NFL preseason underway, all of these bonuses are a great way to get in on the football action and get ready for the regular season.
21+ to wager. Please Gamble Responsibly. Gambling problem? Call 1-800-GAMBLER. Call 1-800-NEXT-STEP (AZ), 1-877-770-7867(CO), 1-800-522-4700 (KS, NV), 1-800-BETS-OFF (IA), 1-800-9-WITH-IT (IN), 1-877-770-STOP (7867) (LA), Call 1-800-327-5050 (MA), Call 1-800-GAMBLER or visit mdgamblinghelp.org (MD), 1-800-270-7117 for confidential help (MI). Call 877-8-HOPENY or text HOPENY (467369) (NY), 1-888-532-3500 (VA).