The fact of the matter is that online sports betting has some things to offer that land-based sportsbooks just can't, and that starts with welcome bonuses.
In all states where online sports wagering is legal, sportsbooks offer welcome bonuses to new players as an incentive for bettors to sign up for the site and actively participate in sports betting. This is certainly the case in Illinois, where online sports betting first launched in June 2020 and has grown immensely in the time since.
These bonuses don't merely work in favor of the sportsbook since it attracts new players to the site, but the bettor benefits greatly from them as well. Not only can bettors in Illinois wager from a location of their choice, but they're provided an opportunity to earn an immediate profit before spending any of their hard-earned money.
Aside from the chance to profit right away, they also give players a chance to experiment with betting on several games before depositing on the website. And regardless of the type, and there are several we will detail below, all of them are generous in their own way.
Illinois Sports Betting Bonus Codes
Sports betting bonus codes are synonymous with welcome bonuses since players can claim these offers by using bonus codes.
These codes are a combination of letters and numbers that can be entered during signup to trigger the bonus awarded by that site, whether it be a no-deposit bonus, a deposit match, or a risk-bonus bet.
The process is quite simple and so is entering the code, which will award you with a bonus that will be paid out in site credit once your registration is complete. Using IL sports betting bonus codes is the best way to ensure you're going to get the most for your investment when registering for an online sportsbook.
IL Sports Betting Promo Codes
A promo code is simply another term used to describe a bonus code, and the two mean the same thing. There are not multiple codes for getting a bonus, and you only need one to activate the sportsbook offer. Whether the language used is a bonus code or promo code, it makes no difference to the bettor.
Keep in mind that a bonus or promo code is not required to claim every offer, as there's another way to obtain Illinois sportsbook welcome bonuses. You can also take advantage of the offer by clicking on one of the 'Get Bonus' links next to the sportsbook of your choice on one of our market pages.
Any of these methods will ensure you receive some sort of reward for signing up with the site. Depending on the type of bonus it is, you may receive it just by creating an account, or you may need to make a deposit of some kind.
No Deposit Bonus
A no deposit bonus is a fan favorite because it does not require bettors to deposit any funds into their sportsbook account to claim the site credit being offered by the site. The bonus is awarded for simply completing the signing up process at an Illinois sportsbook.
Illinois sports betting deposit bonuses aren't usually very high, but they are awarded instantly as soon as your account is created. For example, DraftKings offers a $25 no deposit bonus as part of its offer, which means your account will be credited to $25 in site funds to use as soon as you sign up.
Are No Deposit Bonuses Free Money For Sports Betting?
Yes, no deposit bonuses are the closest bettors can get to being handed free money to use at an online sportsbook.
Site credit is not an exact equivalent of cash because it cannot be withdrawn but essentially, the sportsbook is awarding you with funds that can be used anywhere on the site, regardless of your preferred sport or wager type.
One thing to keep in mind about site credit is that once you place wagers on the site using it, only winnings are returned to your account. The original site credit used to make the bet is not returned.
Sports Betting Risk-Free Bets
Another popular bonus is a risk-bonus bet, which involves the sportsbook refunding the bettor's initial wager on the site should it wind up in a loss. This means that the very first bet after creating an account has minimized risk because the player knows that if it doesn't come through, they will still be awarded with site credit up to a certain amount.
How Does A Risk-Free Bet Work?
The risk-bonus bet comes into play once you have registered, made a deposit, and start placing wagers.
For example, FanDuel offers a risk-bonus bet up to $1,000 during the signup process. This means that you will be refunded with site credit in the event your very first wager loses, up to $1,000. So whether you bet $50, $100, or $300 on your first wager, you get refunded that amount in site credit if the bet doesn't win.
Sportsbook Deposit Bonus
An Illinois sportsbook deposit bonus matches a percentage of the funds that players invest in their account after creating it. Many sites with this bonus offer players a 100 percent match up to a certain amount, but it could also be for a lower amount, so be sure to check the terms and conditions.
Let's say a sportsbook offers a 100% percent deposit match up to $500. This means that if you deposited $500, you will receive an extra $500 in site credit. With a $100 deposit, you'll get another $100 to wager with. If the site only has a $50 percent match and you deposit $100, the bettor is granted an extra $50 in site funds.
This percentage varies across several sportsbooks. Before taking advantage of a deposit bonus, you must read the required terms and conditions and be aware of the wagering requirements. This will tell you how much you need to wager before any winnings from the bonus money can be withdrawn.
Are Sportsbook Deposit Bonuses Worth It?
Yes, Illinois sportsbook deposit bonuses are activated immediately you make your first deposit. Some deposit bonuses can give you up to 200% of your initial deposit. With an increased bankroll and betting power, you have a higher chance of making a profit right off the bat.
Sportsbook Signup Bonus - How Does It Work?
To qualify for any of these bonuses, you first must sign up for an Illinois sports betting site. The first step is to visit the sportsbook of your choice and click on the 'Register' 'Sign Up' or 'Join Now' tab at the top of the webpage.
You will then be asked to fill in some details in the required fields. You will have to provide some personal information including
- Full Name
- Home Address
- Social Security Number (Last Four Digits)
- Deposit Method/Banking Information
After the completion of the registration process, the bonus offered by the site will be activated, making you eligible to receive it. If claiming a no deposit bonus, you will have to invest to receive the offer. In the case of a risk-bonus bet, bettors must deposit and place their first wager for the offer to become active.
Sportsbook Wagering Requirements
As they do in all states, Illinois sports betting first deposit bonuses do come with a potential wagering requirement, which refers to the amount of money in wagers that must be placed in order to unlock funds for withdrawal.
Sportsbooks have different ways of awarding the first deposit bonus and enforcing the wagering requirement, and the method varies from site to site, which we'll get into more below. For these reasons, be sure to check the terms and conditions for the site you are signing up for.
EXAMPLE 1: At some online sportsbooks, the site credit awarded to a new player from a first deposit bonus is the first bit of currency used when wagers are placed, before the money you deposited. In these cases, all funds become eligible for withdrawal once the wagering requirement is met.
Keep in mind that when wagers are placed with site credit, winnings will be returned to your account but the original wager amount will not.
EXAMPLE 2: Other sportsbooks choose to go a different route and use the player's deposited funds as the initial currency when wagers are first placed. In these cases, the wagering requirement must be met for the bonus money to be eligible for withdrawal.
If deposited funds are lost before the wagering requirement is met, the site credit or bonus funds can be used to reach the requirement and convert the remaining currency into withdrawable money.
Other Sportsbook Bonuses
Apart from the standard bonuses listed above, there are several other types of bonuses that players could come across when wagering on sports in Illinois. Below, we detail two of the lesser-known offers including bonus bets and reload bonuses.
Illinois Sportsbook Free Bets
Free bets are essentially site credit, but they usually aren't awarded as part of the signup process for new players. Instead, they are awarded in different ways to existing customers.
Illinois sportsbooks may offer bonus bets in several ways, starting with the occasional unprompted reward from the site. This can be common leading up to a big sporting event such as March Madness or the Super Bowl as an incentive to be active on the site.
Sportsbooks sometimes offer bonus bets for the completion of specific sportsbook missions or as a reward for filling out a survey. Occasionally, technical issues or inconveniences caused by the site will lead to the operator offering a bonus bet.
In most cases, bonus bets aren't too lucrative but there are times when sportsbooks offer a larger amount. No matter how much it's for, bonus bets are an opportunity to make a profit on the sportsbook's dime.
Sports Betting Reload Bonuses
Reload bonuses aren't offered by all sportsbooks but for the brands that do carry them, they're offered in all states including Illinois. This type of bonus is similar to a deposit bonus in that your investment is matched by the sportsbook, with the difference being that reload bonuses are offered to existing players and not new signups.