Bonus Sports Betting

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While there are many things that attract users to any reputable sports betting site, legal online sportsbook bonus options are often the most compelling. These gambling bonuses are usually offered in the form of deposit match promotions, giving you extra money in the form of a percentage of your deposit. Betting Bonuses and promotions are the lifeblood of the online sportsbook experience. These sportsbooks promos are, in so many cases, what draw you in. Maybe it's a 100 percent sign-up bonus. Or a sportsbook promo code. Sports betting bonuses are basically marketing tools. The idea is that a sportsbook offers customers, either new or existing, something extra to encourage them to play on the site. Bonuses are, first and foremost, a means to entice sports bettors to bet at an online sportsbook. A book will offer various discounts or opportunities in order to generate more betting volume. Many sports betting welcome bonuses are subject to minimum odds, and the qualifying bet you make to claim the bonus may also be affected by these. These odds requirements could mean you won’t necessarily be able to bet on your preferred market with your bonus funds, so it’s best to read the terms and conditions before you sign up.

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Sports betting bonuses are the best way to make the most of your wagers. They help turn even the smallest bets into sizeable payouts, and extra money goes a long way when you’re managing your bankroll.

Online sportsbooks are becoming increasingly competitive, and they’re ramping up their promotions to attract new sports bettors. You should keep an eye out for all types of bonuses, even if this is your first-time wagering.

Keep reading to learn more about the best sports betting bonuses in 2021.

Bonus Offers You Should Look For

Sportsbook bonus offers can differ on each betting site, but there are a few household examples you can find at almost any major provider.

Some of the best sports betting bonuses include:

• Sign up bonuses
• Deposit matching
• Risk-free bets
• No deposit bonuses
• Free bets
• Parlay insurance
• Boosted odds
• Reload bonuses

Let’s explore each of these bonuses in detail and highlight some of the best examples from different sportsbooks.

The Different Types of Sports Betting Bonuses and How They Work

There are many bonuses available at multiple different bookmakers. The terms and conditions vary depending on who you’re betting with, but they’re all structured in similar ways, so don’t get caught up in the fine print.

Best Sports Betting Sign Up Offers

Welcome offers are usually the best sportsbook bonus offers, but you can only use them once. They’re more valuable than most ongoing offers, and they’re designed specifically to attract new players.

Here are the best sports betting sign up bonuses:

You should opt-in to a welcome offer if you’re looking to sign up with a platform like DraftKings, FanDuel, or PointsBet.

Now, you might be wondering, “What’s a deposit bonus? What’s a risk-free bet?”

We’re about to get into all that and more!

Deposit Match

A deposit match bonus is typically offered for signing up with a sportsbook. This promotion will match a certain portion of your initial deposit and reward you with an equal amount in bonus funds.

Deposit Match Bonus Pros:

• Opportunity to double your funds
• You can use the bonus funds on many different wagers

Deposit Match Bonus Cons:

• Usually has a playthrough requirement – bet a certain amount to collect a bonus dollar

Best Deposit Match Bonus Offer: DraftKings

DraftKings will match 20% of your first deposit up to $1000. If your first deposit on DraftKings is $500, you qualify for a bonus credit of up to $100.

You can collect the bonus money by placing more bets with DraftKings. You receive $1 in bonus money for every $25 you wager until you reach the total amount.

This is a strong bonus offer, and you should take advantage of it if you see it at any sportsbook.

Risk-Free Bets

A risk-free bet will cover your wager if you happen to lose. You can find risk-free bet bonuses on sign up or as ongoing promotions.

Risk-Free Bet Pros:

• Receive bonus funds if your first bet with a sportsbook is unsuccessful
• Like the name suggests, there’s no risk

Risk-Free Bet Cons:

• No bonus if your first bet is a winner

Check out our full guide to risk-free bets if you’d like to know more.

Best Risk-Free Bet Offer: FanDuel

Say you sign up with FanDuel and opt-in to their welcome offer. If you make a $500 bet on the Super Bowl and you lose, FanDuel will return your $500 wager in the form of site credit.

The FanDuel welcome offer will cover you up to $1,000 in the event your first deposit loses. Hard to argue with that deal.

No Deposit Bonuses

Some say nothing in life is free, but no deposit bonuses would beg to differ. A no deposit bonus is a free bet that’s usually offered for signing up with a sportsbook.

Just sign up, place your no deposit bonus, and you keep all the winnings subject to terms and conditions.

No Deposit Bonus Pros:

• As the name suggests, no deposit required to earn the bonus
• Keep any winnings you made with the bonus

No Deposit Bonus Cons:

• Hard to find

No deposit bonuses are harder to find than risk-free bets, but you should be jumping for joy if you come across one.

We also have a guide to no deposit bonuses. You can find all the details right here.

Free Bets

Free bets are self-explanatory. Sports betting sites offer a small portion of funds, usually delivered in the form of site credit, that you can use to place bets.

Free Bet Pros:

• Use free bonus funds to place bets
• Site credit is easy to use

Free Bet Cons:

• Smaller amount than a no deposit bonus

You can find free bets as sign up offers or as ongoing promotions. They’re similar to no deposit bonuses but usually smaller in total value.

Best Free Bet Offer: BetMGM

BetMGM has a great free bet promotion. They call it the Monday Money Club, which rewards you with a $10 free bet bonus amount every week.

All you have to do is opt-in to the promotion, spend $50 over the course of a week on BetMGM, and you get $10 in site credit.

Parlay Insurance

Parlay insurance is an excellent bonus if you like making multi-tiered sports bets. It gives you a small refund if you lose your parlay by just one leg.

Parlay Insurance Pros:

• The ability to make a high risk, high reward bet with more confidence
• Flexible betting options

Parlay Insurance Cons:

• Only one leg of the parlay is covered

Best Parlay Insurance Offer: FanDuel

FanDuel has a couple of great parlay insurance promotions.

The multi-sport parlay insurance promotion asks you to build a 5-leg parlay with games from any eligible sport. The same game bonus asks for a 3-leg parlay, but with games from the same sport.

No matter which insurance you choose, your wager is covered up to $25 in the event you lose by just one leg.

It’s a rough feeling when you miss a big payout, but it’s not as bad when you have parlay insurance. See our comprehensive breakdown for more information.

Boosted Odds

Sportsbet Bonus Bet

If you’re the type of shopper who just can’t resist a good deal, then boosted odds are right up your alley.

Sportsbooks temporarily offer increased betting lines on certain outcomes. This is referred to as an odds boost, boosted odds, or a bet boost.

Boosted odds increase your potential payout, and they’re offered on a variety of different bets, including:

• Totals and over/under
• Point spread
• Moneyline
• Specific prop bets on a team or player

Boosted odds are designed to entice bettors into wagering on games or propositions they otherwise might not interact with.

Boosted Odds Pros:

• Increased payouts
• Multiple wagers available

Boosted Odds Cons:

• Only available for a limited time

Odds boosts can change daily, so it’s best to check with your preferred sportsbook to see what they have going. Learn more about boosted odds with our comprehensive guide.

Best Odds Boost Offer: FOX Bet

FOX Bet is a great place to start if you’re looking for good bet boosts. They have a “super boost” with even better odds available every Saturday, which is great for wagering on big weekend games.

Reload Bonus

We mentioned that online sports betting sites are doing everything they can to attract new customers. It turns out they’re even more motivated to keep you around long after you’ve placed your first bet.

Reload Bonus Pros

• Free additional bonus funds
• A great reward for being a loyal customer

Reload Bonus Cons:

• Hard to find

Reload bonuses reward loyal customers for making frequent deposits. Your first deposit with a sportsbook might come with a 100% bonus, and subsequent reload bonuses might offer up to 25% in bonus amounts for adding more to your virtual wallet.

Reload bonuses can be hard to find, but you’ve got nothing to lose if you happen to see one.

Other Terms and Conditions

There’s a few key terms and conditions you should be aware of when it comes to the biggest sports betting bonuses.

Rollover Requirement: The minimum wager amount, or the number of bets you must place before withdrawing a bonus. Also known as a wagering requirement or playthrough requirement.

Odds Requirements: Some bonuses can only be used on betting lines above or below specific odds.

Free Play Bonus: A credit that can be used on a specific sportsbook, as opposed to a cash value.

Cash Bonus: A real money bonus that can be withdrawn from your account. These might be subject to a rollover requirement.

Time Limit: Some bonuses expire after a certain amount of time has elapsed.

Want to Know More? We Have All the Answers

Whether you’re betting on the NFL, NBA, or any other major professional sports, SportsBettingDime.com has you covered!

Visit our Bonus Section to see all the best sports betting bonuses available on the market.

Colorado online sports betting kicked off on May 1, 2020. There are 16 licensed Colorado online sportsbooks. Most offer sign-up bonuses including free bets and deposit bonuses that lure players to their sites instead of their competitors. Each has its own set of terms and conditions, and we cover them below so you can find the best deal for your level of activity.

**Some of the products featured here are from our partners who compensate us. This does not influence our evaluations. Our opinions are our own. All bonus and promotions have Terms & Conditions that apply. 21+ for legal online gambling sites. If you think you have a gambling problem, please call 1-800-522-4700.

Best Online Sports Betting Bonuses In Colorado

While most Colorado sportsbooks offer bonuses, some are notable for new bettors. Here are the eight best welcome bonuses in Colorado:

• William Hill – Claim A $500 Risk-Free Bet
• BetRivers – Claim A $250 Deposit Bonus with 100% Match
• FanDuel – Claim A $1,000 Risk-Free Bet
• SportsBetting.com – Claim A $150 Deposit Bonus
• BetMGM – Claim A $500 Deposit Bonus – Use bonus code SHARP
• PointsBet – Claim A Two Risk-Free Bets, up to $1,500 – Use bonus code BIGBONUS
• DraftKings – Claim A $1,000 Deposit Bonus with 20% Match
• FOX Bet – Claim A $500 Risk-Free Bet

Online Sports Betting In Colorado

William Hill Colorado

Bonus: $500 Free Bet

Claim Bonus: Willaim Hill $500 Free Bet

Defense Dollars: Wager $50 or more on the pregame or full game spread on the Washington Huskies vs. Oregon Ducks game. Earn a free bet for your team’s defense:

• $1 per sack
• $2 per fumble recovery
• $3 per interception
• $7 per defensive touchdown
• $10 per safety

Remember, the risk-free bet must be used within seven days from the date it’s awarded. Don’t let that free bet go to waste!

BetRivers Colorado

Bonus: 100% up to $250 Deposit Match

Claim Bonus: BetRivers Sportsbook Bonus of $250

Colorado became the fourth state BetRivers launched in after Pennsylvania, Indiana, and Illinois. (It launched in Iowa shortly afterward, too.) BetRivers is owned by Rush Street Interactive, the same company that operates SugarHouse Online, but Coloradans won’t get access to that site. BetRivers has a number of loyalty perks and rewards to Colorado sports bettors and is offering up to a $250 match for deposits through our exclusive link. BetRivers will match each dollar bettors deposit with a site credit up to $250. Bettors also have to use that money to bet, with BetRivers releasing one site credit for every dollar in wagers. It has the best rate of reward among Colorado deposit bonuses. But it’s far from the largest.

FanDuel Sportsbook Colorado

Bonus: $1,000 Risk-Free Bet

Claim Bonus: FanDuel Sportsbook $1,000 Risk-Free Bet

FanDuel is another licensed daily fantasy sports company that entered thelegal sports betting industry in Colorado. You receive $5 in your account immediately upon signing up. You’ll receive another $5 upon making a deposit. FanDuel’s main welcome bonus is its $1,000 risk-free bet. You’ll receive a free bet for your first wager’s amount. If it loses, your account is reimbursed for the losses, up to $1,000. Winnings are eligible for cashout, but the site credits cannot be withdrawn.

SportsBetting.com

Bonus: $150 Deposit Bonus

Claim Bonus:SportsBetting.com $150 deposit bonus

SportsBetting.com launched in Colorado after partnering withJohnny Nolon’s. SportsBetting.com offers a 100% up to $150 deposit bonus for new customers.

Bonus: $500 Deposit Bonus

Claim Bonus:BetMGM Sportsbook $500 Deposit Bonus – Use bonus code SHARP

Bet MGM is operated by MGM Resorts out of Las Vegas. It offers a risk-free bet up to $500. However, bettors must use their first bet to take advantage of this bonus. If bettors lose their first bet, then BetMGM will add risk-free bets to bettor accounts. If bettors wager $49 or less, they’ll get one risk-free bet that’s equal to their first bet. If bettors wager $50 or more, then bettors will get five risk-free bets that are each worth a fifth of their first bet. So, a $500 losing wager would get bettors five $100 risk-free bets. It’s a little confusing, but the bottom line is bettors will get their losing stake back in the form of risk-free bets.

PointsBet Colorado

Bonus: 2 Risk-Free Bets up to $1,500

Claim Bonus: PointsBet Sportsbook $1,500 Risk-Free Bets – Use Bonus Code BIGBONUS

PointsBet offers a little something different-a dual risk-free bonus bet offer. New accounts can receive two risk-free bets, one up to $500 on a fixed-odds bet, and $1,000 for PointsBetting. PointsBetting is a spread bet which allows bettors to wager on how much their team will cover the spread by. The reward multiplies depending on how far over the threshold your team is when the game concludes. If you can guess how much you’ll win, you can be rewarded exponentially. But it’s a tricky bet. Best of luck if you attempt it.

DraftKings Sportsbook Colorado

Bonus: 20% up to $1000 on deposit.

Claim Bonus:DraftKings Sportsbook Bonus of $1,000

DraftKings is best known in Colorado as a legal daily fantasy sports site. It’s been a licensed daily fantasy site in Colorado since 2016. Now you can bet on sports through DraftKings’ app and website.

New DraftKings sportsbook players can earn up to $1,000 in deposit bonuses. When making a deposit, bettors can earn $1 in site credits for every $5 they deposit, up to $1000. That means a $5,000 deposit would receive the maximum bonus. However, DraftKings also has a playthrough requirement. Bettors get $1 in site credits for every $25 they ager after depositing. Bettors have 90 days to meet the playthrough requirement to maximize this bonus. You’ll be rewarded in proportion to how much you deposit and wager, so make your first deposit and subsequent bets count!

Additional terms and conditions apply.

FOX Bet Colorado

Bonus: $500 Risk-Free Bet

FOX Bet offers new players a $500 risk-free bet on their first wager. However, it’s only good for your first wager, so make sure you don’t miss it. Bettors must place a bet on a line with odds of -200 or more to qualify. If you lose, you’ll get site credits that match your stake up to $500. If you win, then congratulations. Enjoy your winnings.

BetMonarch

Bonus: None available

BetMonarch is the first homegrown sportsbook to launch in Colorado, both owned and operated locally. The new app launched in May 2020, about a week after Colorado legal sports betting went live. As the name suggests, BetMonarch is attached to the Monarch Casino in Black Hawk, and bettors will also be able to place bets at the retail sportsbook in person once Colorado casinos reopen.

SBK

Bonus: None Available

SBK is an online sportsbook from Smarkets, a European sports betting company based in the UK. SBK launched on June 4 and gets its odds from its betting exchange overseas. That means that SBK’s odds are particularly competitive. But Colorado sportsbooks that offer bonuses or boosts can have better odds on certain lines than SBK.

Sky Ute Sportsbook

Bonus: None Available

Sky Ute Sportsbook is the online sportsbook from the Southern Ute Indian Tribe. Sky Ute Sportsbook launched on June 9 and is currently not offering a sign-up or deposit bonus.

Circa Sports

Bonus: None available

Circa Sports is an online sportsbook that started in Las Vegas at the D and Golden Gate. Colorado is its first online sportsbook outside of Nevada and promises to have high limits and great odds.

BetWildwood

Bonus: None Available

BetWildwood is an online sports betting site operated by Wildwood Casino. It offers no welcome bonuses and tends to have low odds compared to its competitors.

theScore Bet

Bonus: $1,000 Deposit Bonus with 5% Cash Back + $500 Risk-Free Bet

theScore Bet offers two welcome bonuses: the $1,000 deposit bonus and the $500 risk-free bet.

The deposit bonus rewards bettors for their first deposit, up to $1,000. But to unlock that bonus, bettors need to wager. Bettors get 5% cash back on every wager for 60 days to slowly unlock the cash bonus they earned from their first deposit. That means to get the full $1,000, bettors must:

Best Sign On Bonus Sports Betting

• Deposit $1,000 on their first deposit.
• Wager $20,000 in 60 days.

Long story short, bettors will be rewarded in proportion to their play.

theScore Bet also offers a $500 risk-free bet. theScore Bet refunds your first bet if it loses for the amount bettors wagered, up to $500.

Elite Sportsbook

Bonus: $500 Risk-Free Bet

Elite Sportsbook is partnered with Red Dolly Casino. They are offering first-time users a $500 risk-free bet of up to $500 on their first bet. With a risk-free bet, the first bet is the one to go big on.

Betfred Sports

Bonus: $500 Risk-Free Bet

Betfred is a European operator that partnered with Saratoga to launch its online sportsbook in Colorado. Betfred is an official partner of the Denver Broncos and offers new players up to $500 risk-free bet when they sign up.

Superbook Sportsbook

Bonus: None Available

Superbook is a recent Colorado entrant that promises bonuses soon. Colorado is its first state after Nevada, and it’ll be heading into New Jersey next.

No Deposit Bonus Sports Betting

Colorado Sports Betting Sites Launching Soon:

888 Sportsbook

888 Sportsbook isn’t here yet. But when it is, it offers a $500 risk-free bet. However, that could change for Colorado before launching.

Bet365

Bet365 is a maybe, too. However, if it comes to Colorado, bettors would be able to claim a $100 first deposit bonus. It’d be the smallest deposit bonus in Colorado at that rate.

BetAmerica

BetAmerica is best-known as a horse racing betting company. It is owned and operated by Churchill Downs. It has been licensed in Colorado in the racing industry for years. However, its casino bonus is more generous than its sportsbook bonus. New casino players get a $500 deposit bonus. New sportsbook bettors get what appears to be a $50 risk-free bet.

Barstool Sportsbook

Barstool Sportsbook is opening a retail location in Colorado, but the app isn’t live yet. When it is, bettors can claim a $500 risk-free bet.

Colorado Sports Betting Promotions

Existing users can take part in sports betting promotions offered at many of the Colorado sports betting sites. Deposit bonuses reward bettors for how much they deposit and wager. Risk-free bets refund losing bets with site credits.

However, bettors will find ongoing bonuses that offer small wagers on popular games. There’s lots to see, so bettors should keep an eye out for new promotions.

Deposit Bonuses

Deposit bonuses appear the most enticing. They reward bettors for how much they deposit upfront. Sportsbooks seem to know that bettors who deposit money will use it, so it makes sense for them to incentivize large deposits. Deposit bonuses are awarded at a rate expressed as a percentage. A 20% deposit bonus, like DraftKings’, awards 20% of a bettor’s deposit in site credits. So, a $100 deposit would earn $20 in site credits.

However, deposit bonuses often have playthrough requirements, too. Bettors need to actually use the money they deposit before unlocking their bonuses. theScore Bet awards 5% of a bettor’s wagers up to the amount they deposited upfront. That way, sportsbooks ensure bettors are actually wagering.

Risk-Free Bets

Ironically, risk-free bets require bettors to risk their own money upfront. Risk-free bets reimburse bettors for how much they lose on their first bet. The advertised amount is often the maximum bet that bettors can be reimbursed for in full. So, a $500 risk-free bet often means that bettors can lose $500 on their first bet, then get that money back in site credits. That’s the deal bettors can find at Fox Bet. However, bettors can’t withdraw the site credits. Bettors can only get their winnings in the bank. Since these bonuses are often only good for the first bet, new bettors often miss the chance to use them. Don’t be one of them. Plan the first bet carefully.

No-Deposit Bonuses

These are small, unremarkable bonuses that bettors receive upon sign up. However, these are in the form of site credits, too. They’re not free money for bettors to withdraw and use as they please. Bettors must use those credits to wager at their sportsbook or forfeit them. They’re usually not larger than $50, so don’t get too excited about them. Barstool Sportsbook offers a $10 no-deposit bonus for signing up, knowing they’ll win that money back over time. However, they can help new and nervous bettors try betting for the first time. Sportsbooks likely use these to lure the most cautious of new bettors in, hoping they’ll wager more after using these first site credits.

Ongoing Event Bonuses

These are other small bonuses that are tied to specific events. BetMGM offers a deal where bettors wager $50 on college basketball and get a $25 free bet for college football. Little bundles like these help spread bets over all the events sportsbooks need money on.

How To Claim Online Sportsbook Bonuses In State

Claiming bonuses tends to be straightforward. First, bettors have to find the online sportsbook app they want to wager at. That’s as easy as googling the website or searching the app store. Keep in mind that some brands have state-specific apps. If the Colorado app is available, choose that one. And don’t mistake a daily fantasy sports app for a sportsbook. They’re not the same.

After that, bettors must register for accounts. Creating accounts is similar to any other website. However, sportsbooks require part or all of a bettor’s social security number. That may seem strange to new bettors. However, it’s part of an identity verification step that all licensed Colorado sportsbooks must adhere to. No one wants to award money to money launderers, after all.

Once bettors are registered, they just have to fulfill the first terms of the welcome bonus. That could mean different things for different bonuses and sportsbooks. For example, DraftKings and theScore Bet both offer $1,000 deposit bonuses. However, they have different ways to unlock the full bonus. DraftKings requires a large deposit upfront followed by a 25:1 playthrough requirement. But theScore Bet only requires a 20:1 playthrough. That means earning the full deposit bonus requires $5,000 less at theScore Bet than at DraftKings.

But risk-free bets come with their own terms, too. Their terms often hinge on the first wager. That means planning to bet big later is a poor strategy for fulfilling those terms. Read up on bonus terms before wagering if you want to take advantage of them.

Once the terms are fulfilled, bettors will find the bonus in their accounts. That could be site credits for additional betting or risk-free bets worth redeeming. Bettors should check their accounts and betslips if they’re looking for the rewards they reaped from their sportsbook bonus.

Colorado Sports Betting Bonus FAQs

21. While daily fantasy sports players only need to be 18, sports bettors must be a little older. This staves off a potentially thorny legislative issue. The idea of high school seniors gambling online is unsettling, even to gambling supporters. Raising the sports betting age got around that and likely helped keep mobile sports betting out of high schools.

Yes. Because bettors create separate accounts at each sportsbook, they can claim each sportsbook’s bonus. However, they can only claim bonuses once. Each sportsbook account is tied to a social security number. It’s hard to fake two accounts. Even if bettors could borrow a social security number, sportsbooks would suspend that account if they suspected that it was the same person. Sportsbooks have massive sets of data to use to identify duplicate accounts. Fooling them isn’t as easy as bettors may think.

Each playthrough requirement can differ from sportsbook to sportsbook. However, most of them are associated with deposit bonuses. After fulfilling the deposit requirement for a deposit bonus, bettors often have to wager their money to unlock site credits. They can take the form of fixed site credits per dollar wagered or a percentage of wagered dollars. Bettors must understand each bonus to learn how they wish to fulfill their playthrough requirements.

Bonus abuse is using multiple accounts to benefit from bonuses multiple times. Sportsbooks anticipate a certain return-on-investment from their bonuses. They expect to spend a little money to retain bettors over their full customer lifetimes. But those calculations assume one bonus per sportsbook. Any more than that is theft.

As long as bettors aren’t creating multiple accounts to profit from different bonus terms, then they’re fine. They can create single accounts at multiple sportsbooks, but creating multiple accounts at any sportsbook will get them in trouble.

DraftKings Sportsbook offers a $1,000 deposit bonus at a 20% match rate. If bettors deposit $100, they can earn up to $20 in site credits. However, bettors also have to use the money to bet. DraftKings requires its bettors to play $25 to earn each $1 of site credit. In the $20 example, a bettor would need to wager $500 for the bonus credits. For the full $1,000, bettors would need to play $25,000. Bettors are rewarded based on how much they deposit and play. As long as bettors are wagering at the pace they’ll normally wager, they’re getting a fair value of the bonus.

FanDuel offers a $1,000 risk-free bet to its new bettors. If a bettor’s first wager loses, then they’ll get site credits back equal to their losing bet, up to $1,000. Betting big on the first wager may be a good value for bettors with cash to spare. However, site credits are not the same as winnings. Bettors can withdraw winnings from their accounts. They cannot withdraw site credits. Bettors can only use site credits for betting on FanDuel.

Free Bonus Sports Betting

Sometimes. Some sportsbooks require bettors to use their bonuses on bets with certain odds. Colorado sportsbooks usually set the minimum odds around -200. That way, sportsbooks don’t lose too much money giving away bonus credits and paying additional winnings. Each sportsbook bonus has its own terms, but this is the most common one. Bettors have to watch for these on risk-free bets more than anywhere else. Otherwise, bonus terms should be largely clear.