Now that sports betting in the Great Lake State is live, there's no better time to talk about Michigan online sportsbook bonuses and how to best take advantage of them!
Sportsbook bonuses exist in many states including Michigan, and are basically part of a welcome offer given by online sports betting sites to new customers. There are several types of welcome offers including first deposit bonuses, no-deposit bonuses, and risk-bonus bets.
Each one can be claimed following the signup process and regardless of which kind of welcome offer you're getting, each bonus comes with its own benefits. In addition to signup bonuses, a sportsbook may also feature special offers for existing players including bonus bets, odds boosts, and insurance for lost wagers.
Let's get into how each of these Michigan online sportsbook bonuses work and how to claim them.
Michigan Online Sportsbook Bonus Codes
In order to claim your welcome offer, Michigan sports betting sites are likely to require entering a bonus code. The code is a combination of letters and numbers that will trigger your bonus after being entered during the signup process.
Michigan Sports Betting Bonus Links
In addition to a bonus code, it is also common for sportsbooks to require the clicking of a link in order to trigger your welcome bonus. These links can be easily found next to the sportsbook of your choice where it says "Get Bonus", as is the case on BonusSeeker.
Whether you manually enter a bonus code or click on a promotional link doesn't usually matter. For sites that have both, they are simply a means to the same end and result in claiming a matching bonus.
Michigan Online Sportsbook No Deposit Bonus
One of the most popular bonus offers available through Michigan online sportsbooks is a no-deposit bonus. People enjoy receiving this welcome offer because it's exactly what it sounds like: a bonus without having to deposit any money.
Why Should You Look For A No-Deposit Bonus?
This bonus is easy to acquire following the signup process and has two main benefits, making it a favorite among bettors. Here's both of them:
- You can freely explore the site and try out various bet types without having to risk anything
- You are given the chance to earn profits right off the bat before investing your own funds
The one thing to keep in mind with a no-deposit bonus is that it comes with wagering requirements, which is a multiplier that tells you how much money in bets you must place before being able to withdraw winnings.
For example, a $25 no-deposit bonus with a 5x wagering requirement means you need to place $125 worth of wagers before winnings earned with that bonus can be withdrawn.
Michigan Online Sportsbook Risk Free Bet
Another extremely common welcome offer is a risk-bonus bet, which is another bonus that sounds like exactly what it is. Claiming a Michigan online sportsbook risk-bonus bet means that the operator offering the promotion will refund your losses in site credit if you happen to lose your very first wager on the site.
On most occasions, this offer is eligible for the very first bet you place on the site. In some cases and at many online sportsbook in NJ and other states, there is a risk-free period after signing up (usually 24 hours), in which the sportsbook will cover losses up to a certain amount or percentage.
Why Should You Look For a Risk-Free Bet?
A risk-bonus bet is an extremely popular promotion for a reason and there are definitely some reasons to keep an eye out for one when choosing among Michigan online sportsbooks.
Betting with no risk means you can explore the site for new markets you may not try with your own funds, similar to the case with a no-deposit bonus.
What a risk-bonus bet also does is gives you clearance to go for a huge payout with that very first wager, perhaps an underdog or a parlay, knowing you'll be reimbursed in some way if it loses.
It is worth noting that if you do receive a risk-bonus bet, that amount will not be returned to your account following placement, as only winnings are awarded from the risk-bonus bet.
Michigan Online Sportsbook Signup Offers
Aside from no-deposit bonuses and risk-bonus bets, there are other types of bonuses that can be found at online sportsbooks in Michigan, providing promotional options for both new and existing players.
You can also utilize one of many other bonuses for online sports betting in Michigan. Some of these rewards are available for returning players who have been on these sportsbooks for a while. You can check the sportsbook website for details on what promotions are open, and the terms associated with these features. Here's a look at a few of the top things you can find while on the website.
First Deposit Bonuses
An additional type of welcome bonus for new customers is a first deposit bonus, also referred to as a deposit match bonus. When making your initial investment into a Michigan online sportsbook, the site will match your deposit up to a certain amount in site credit to help get you started.
Although there are occasions where the deposit is matched just part of the way, many sites will offer a 100 percent match up to a certain amount. For example, a 100 percent deposit match means that if you invest $250, the site will give you $250 worth of site credit to play with.
The promotion is appealing to players because it offers an opportunity to try different types of wagers on the site while only risking the site credit and not the player's actual funds. It also is a great opportunity to earn profits and pad the bankroll right from the start of your sports betting journey.
One of the alternate options sometimes offered at online sports betting sites in Michigan are reload bonuses, which are essentially deposit match bonuses for existing players.
The way the bonus works is the same as a first deposit bonus, where the sportsbook matches the investment up to a certain amount in site credit. Rather than a 100 percent match, a reload bonus is more likely to be around 25 or 50 percent.
Check the terms and conditions for any details regarding wagering requirements or time limits on-site credit.
Michigan Online Sportsbook Promotions
Michigan online sportsbooks also provide ongoing promotions that cover a huge range of betting markets. Each one is generous in its own way and is designed to give the player a leg up while incentivizing wagering on different sports or events.
Free Bets at Michigan Online Sportsbooks
Some Michigan online sportsbooks also provide bonus bets to players. These bonus bets are essentially site credit that is not returned to the player following the wager, so it acts somewhat like a no-deposit bonus or a risk-bonus bet.
Free bets can be offered in a variety of ways. In some instances, you can opt into a promotion that will require betting on one side or another in a specific game. Regardless of the outcome, there could be a bonus bet offering tied into the events that take place in that game (i.e. bonus bet based on total number of points scored by a specific team).
Another example would be the site providing missions to complete in exchange for promotional giveaways, which may include bonus bets that can be used on a wide range of sports and leagues.
Odds boosts are a daily promotion that is continuing to grow in popularity at online sportsbooks all over the country, including in the Great Lake State. Simply put, odds boosts occur when sire enhances the betting lines for a given event, offering a larger payout than the original line states.
When offering an odds boost, the site will enhance odds by a certain amount, making the line slightly more enticing. For example, a team could have a +120 moneyline to win a given game. If the site offers a boost for this line, the same team may be bumped up to +150 instead, offering extra value on top of where oddsmakers set the odds.
Odds boosts could occur on single bets such as our example, or could be offered as part of a parlay designed by the site, where it offers a boost for two or three teams all winning on the same day.
Parlay insurance is exactly what it sounds like: insurance on your parlays. Essentially, this promotion will reimburse the bettor a certain amount if their bet does not win, but is eligible for insurance.
The exact rules for parlay insurance may vary site to site but it was first featured at FanDuel Sportsbook, so let's use that site as the example. Parlays are eligible if there are at least five sides in the wager (all of them have odds of -200 or higher) and all sides win except for one. This means you must go four out of five or five out of six, so on and so forth.
In most cases, parlay insurance will refund your wager up to a certain amount. At FanDuel, parlays are matched up to $25 when it comes to insurance.
How Do You Claim a Michigan Sportsbook Signup Bonus?
Here are some steps for how you can get a signup bonus from Michigan sports betting sites:
- Review the terms of your signup offer first. You might have to use a bonus code, or you might need to click on a specific link to be eligible. Oftentimes, you can use either one.
- Provide your information to the sportsbook. The content includes your account name and password.
- Send your deposit information to the website. The deposit options will vary by each sportsbook. Credit cards are the most popular deposit choices, but some places for sports betting in Michigan will accept online money transfers.
- Check that you entered the promo code for your reward, if applicable. There should be a box on the deposit page that lets you apply the offer.
- You will collect your bonus funds after the sportsbook accepts your deposit.
When Can You Withdraw Your Funds From a Michigan Online Sportsbook?
The goal anytime you deposit into a sportsbook account is to eventually withdraw some winnings, so when can you do that exactly?
Well, any money deposited can be taken out whenever you want. In order to withdraw winnings after receiving a welcome bonus, however, you must complete the wagering requirements.
What Are Wagering Requirements?
Wagering requirements are rules surrounding how much you have to spend on a sportsbook before you can withdraw money. These wagering rules relate to the site credit you get from a promotion and not the money you deposit.
For example, you might have a 10x wagering requirement to go with your investment. That means if you have $100 in bonus funds, you'd have to place $1,000 worth of wagers before you can withdraw any funds that are winnings from the site credit.
What Are the Advantages Of A Michigan Online Sportsbook Signup Bonus?
Most Michigan online sportsbooks will have signup bonuses. There are many positives that come with such rewards including the following:
- The opportunity to place more wagers on a huge range of sporting events.
- Not risking your own money at the start thanks to site credit from bonuses
- Site credit can be used on a number o bet types including parlays, props and odds boosts
- On some sites, rewards can be earned even when site credit is funding the wager
- You will still be eligible for other bonuses in the future including reload bonuses and bonus bets
Michigan Sportsbooks Promo Codes Vs. Bonus Codes
You might come across the "promo code" and "bonus code" terms when looking for rewards for Michigan sports betting online. These two terms mean the same thing, since a bonus code is a promotion for a sportsbook.
Michigan Online Sportsbook Frequently Asked Questions
Can I Use Michigan Online Sportsbook Bonuses On My Mobile Device?
Yes, you can use your mobile device to obtain and use Michigan online sports betting bonuses. The welcome bonus works the same ways whether you use a cell phone, tablet, or desktop computer, but using a mobile device does allow you to use the site while on the move.
How Do I Withdraw Winnings From My Michigan Online Sportsbook Welcome Bonus?
After playing through the wagering requirements attached to your welcome bonus, your funds will become eligible for withdrawal. From there, the process is a very simple process to withdraw from your sportsbook account dashboard after signing in.
Are Michigan Sportsbook Bonuses For New Players Only?
While most bonuses are aimed at new players, there are some promotions that existing customers can take advantage of, such as reload bonuses and bonus bets.
Can I Use A Signup Bonus Multiple Times?
No, you can only receive a signup bonus once. The identification verification system is in place to make sure each person can only have one sportsbook account and as a result, can only receive one bonus.