Table of Contents

Bonus Bets Explained: What They Are and How They Work

Sportsbook bonuses

Bonus bets (often called “free bets”) are one of the most common sportsbook promotions. They look simple—“Get $200 in bonus bets”—but many bettors misunderstand how they pay out. This guide explains bonus bets in plain language so you can compare offers correctly.

What are bonus bets?

A bonus bet is promotional credit that lets you place a wager without risking your own cash stake. The key detail: in most bonus bet formats, if you win, you keep the profit only. The bonus bet stake itself is not returned.

Bonus bets vs free bets vs free play (offshore)
Sportsbooks use different names:

  • Bonus bets (common at U.S. regulated apps): promotional stake, usually “winnings only.”
  • Free bets: often the same as bonus bets, depending on the brand.
  • Free play (common offshore): similar concept, but rules vary by sportsbook (always check rollover and eligible wagers).

How bonus bet payouts work (quick examples)

Example 1: $50 bonus bet at +100

  • If it wins: you receive $50 profit
  • If it loses: the $50 bonus bet disappears

Example 2: $50 bonus bet at +200

  • If it wins: you receive $100 profit
  • If it loses: the $50 bonus bet disappears

What a bonus bet is really worth
A “$50 bonus bet” is not worth $50 cash in your pocket. Its value depends on:

  • The odds you bet
  • How often you win (your probability)
  • Whether the sportsbook lets you split the bonus bet into smaller bets
  • Expiration windows (short expiry reduces value)

To estimate bonus-bet value based on odds, use the BMR freeplay value calculator.

Common bonus bet rules and restrictions
Before you use any bonus bet, confirm:

  • Expiration date (many expire quickly)
  • Minimum odds requirements
  • Whether cashout voids eligibility
  • Whether the bonus bet can be split
  • Eligible bet types (straight bets only vs parlays allowed)

View the best sportsbook bonuses for 2026.

FAQs: Bonus Bets

Bonus bets are “free” in the sense that you’re not risking your own money on the wager. However, most sportsbooks do not return the bonus stake if the bet wins. You keep only the profit, not the original bonus amount—so a $50 bonus bet does not equal $50 cash.

If a bonus bet wins, the sportsbook pays out the profit only. If it loses, the bonus bet simply disappears with no cost to you. Unlike real-money wagers, the bonus stake is never returned to your balance.

  • Bonus bets (common in U.S. sportsbooks) usually pay winnings only.

  • Free bets may follow the same rules or vary by brand.

  • Free play (common at offshore sportsbooks) often has different rollover or wagering requirements. Always read the sportsbook’s terms before betting.

A bonus bet’s real value depends on the odds you place it at and your chances of winning. For example, a $50 bonus bet at +200 returns $100 profit if it wins—but nothing if it loses. To estimate the true cash value of a bonus bet, use the BMR freeplay value calculator.

In most cases, yes—bonus bet profits are withdrawable once the wager settles, as long as you followed the rules. However, cashing out early or betting on ineligible markets can void the bonus, so always check the sportsbook’s bonus terms.

Before placing a bonus bet, confirm:

  • Expiration date

  • Minimum odds requirements

  • Whether cashout voids eligibility

  • If the bonus can be split into multiple bets

  • Eligible bet types (straight bets vs parlays)

Failing to follow these rules can cause you to lose the bonus or its winnings.

Betting News
Follow BMR
Twitter Facebook Instagram Youtube