Deposit Match Explained

So, what is a deposit match bonus?

A deposit match is a bonus that sportsbooks regularly offer new customers to incentivize them to create an account. As the name suggests, the sportsbook will match the deposit that you add to your account up to a certain amount in the form of free bet credits. The terms of the bonus will vary from site to site, but let’s take a look at an example: 

100% matched first deposit bonus up to $500 for new players.

Here, the sportsbook invites new players to deposit up to $500 into their account and promises to match the deposit in the form of free bet credits up to the same total. So, for instance, if you’re eligible for the promotion and add $500 to your account, you would receive $500 in free bet credits in return. 

If you don’t want to add so much money to your account and opt for a smaller deposit of $100, the sportsbook would provide you with $100 in free bet credits, as your deposit is “up to” $500 and eligible for the promotion.

While this example is tied to a player’s first deposit, sportsbooks often run ongoing promotions tied to regular deposits, which are available to existing customers. You should also note that sportsbooks don’t always offer 100% matched deposit bonuses, and they may offer 20% or 50%, depending on the scope of the promotion. 

What to look for

There’s no doubting the fact that deposit match bonuses are attractive to sports bettors, as they enable you to increase your bankroll. But there are some things you need to be mindful of before depositing funds into your account: 

Time limit

Most deposit match bonuses come with a time limit. So, the sportsbook might stipulate that you have seven days after depositing your funds in which to use your bonus. This is important to think about, particularly for large amounts of money. For instance, you might not wish to gamble $500 weekly, so bear that in mind before adding money to your account to extract the bonus. 

Type of bonus (cash or free bet credit)

Matched deposit bonuses are often awarded in the form of free bet credits, which you can then use to place wagers on the site. However, they’re not often given as cash, meaning that you can’t withdraw your bonus without placing bets. Again, this is important to acknowledge before deciding how much money to add to your betting account. 

Wagering requirements

Although sportsbooks are typically more lenient than online casinos, some sites still attach wagering requirements to their promotions. For example, if the wagering requirements are 2x, you will need to wager the bonus a minimum of two times before you can cash out.

Minimum odds

When it’s time to place a bet with your bonus, you might find that the sportsbook only permits you to use the funds for wagers priced at odds of -200 or greater. You need to make sure that you’re aware of any minimum odds attached to the promotion, which you can find out by reading the terms and conditions. 

What bets can you place with a deposit match bonus?

The good news is that you can place a wide range of bets with a deposit match bonus. You could back the Bengals and Browns in an NFL parlay, or you could place a moneyline wager on the Columbus Blue Jackets in the NHL, for instance. 

Most sportsbooks don’t restrict you in terms of the sports or leagues you can wager on with a promotion, but they might have minimum odds restrictions, as explained above. Before cashing out your bonus winnings, you will also have to consider any wagering requirements. 

Are deposit match bonuses worth it?

Any promotion that a sportsbook offers you is worth considering, and a deposit match bonus is no exception. As you need to deposit funds into your account anyway to get started, the fact that you’re offered free bets to match your deposit is a great deal and something that you should look to take advantage of. 

We like the fact that you’re in control of how much money you receive, as the bonus is directly tied to your deposit amount. While time limits and wagering requirements may apply, it’s a great way to increase your bankroll from the outset, which is why first deposit match bonuses are so popular with new customers.

So, if you sign up for a sportsbook and are offered a match deposit promotion, grab it with both hands and place your bets! 

Recap: Deposit match bonuses in sports betting

Sportsbooks offer deposit match bonuses, particularly to new customers, as a common promotion. While they’re often tied to your first deposit, some sportsbooks also offer them when you reload funds into your sports betting account.

As is the case with most sports betting promotions, deposit match bonuses give you the chance to bet with the sportsbook’s money, offering you a greater chance of winning your bets without having to finance your wagers yourself. 

Just read the terms and conditions carefully before adding funds to your account so you know what to expect when you make the most of a deposit match bonus from your chosen sportsbook.