{"id":421,"date":"2026-06-09T16:05:01","date_gmt":"2026-06-09T15:05:01","guid":{"rendered":"https:\/\/www.squawka.com\/ca\/?page_id=421"},"modified":"2026-06-12T13:15:01","modified_gmt":"2026-06-12T17:15:01","slug":"bonus-bets","status":"publish","type":"page","link":"https:\/\/www.squawka.com\/ca\/bet\/betting-sites\/bonus-bets\/","title":{"rendered":"Best Free Bets and Betting Offers"},"content":{"rendered":"\n

Bonus bets, often called free bets, are the most common welcome offer at Canadian sportsbooks, but they are widely misunderstood. A bonus bet is not the same as cash, and the headline figure is rarely what it’s worth. This guide explains what bonus bets are, the types of offer you’ll see, how to work out a bonus bet’s true value, the terms that decide whether it’s worth claiming, and why Ontario players see them advertised differently.<\/p>\n\n\n\n\n

Bonus bets at a glance<\/h2>\n\n\n
Detail<\/th>What to know<\/th><\/tr><\/thead>
What it is<\/strong><\/td>A free bet where you keep the winnings, not the stake<\/td><\/tr>
True value<\/strong><\/td>Typically around 70% of the face value<\/td><\/tr>
Common types<\/strong><\/td>First-bet safety net, bet-and-get, deposit match, odds boost<\/td><\/tr>
Key terms<\/strong><\/td>Minimum odds, rollover, expiry, max win<\/td><\/tr>
Best used on<\/strong><\/td>A single bet at medium-to-longer odds<\/td><\/tr>
Ontario<\/strong><\/td>Offers exist but cannot be advertised to the public<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

What are bonus bets and free bets?<\/h2>\n\n\n

A bonus bet (or free bet) is a credit a sportsbook gives you to place a wager without staking your own money. The crucial detail is how it pays: when a bonus bet wins, you keep the profit but not the stake. So a $50 bonus bet placed at even money returns $50, not the $100 a $50 cash bet would. That single rule is why a bonus bet is worth less than its face value, and why reading the terms matters more than the headline number.<\/p>\n\n\n

How bonus bets work<\/h2>\n\n\n

You place a bonus bet like any other wager, choosing a market and confirming the bet with your bonus credit instead of cash. If it loses, you lose nothing of your own. If it wins, the winnings (minus the stake) land in your account, usually as withdrawable cash, though some books pay them as further bonus funds with their own conditions. Bonus bets almost always carry a minimum-odds requirement and an expiry window, so you can’t simply place them on a near-certain favourite to lock value.<\/p>\n\n\n

Types of betting promo in Canada<\/h2>\n\n\n
Type<\/th>How it works<\/th>Stake returned?<\/th><\/tr><\/thead>
First-bet safety net<\/strong><\/td>Your first losing cash bet is refunded as a bonus bet<\/td>No (refunded as a bonus bet)<\/td><\/tr>
Bet-and-get<\/strong><\/td>Bet a qualifying amount, receive a fixed bonus bet<\/td>No (the reward is a bonus bet)<\/td><\/tr>
Deposit match<\/strong><\/td>A percentage of your deposit added as bonus funds<\/td>No (bonus funds, with rollover)<\/td><\/tr>
Odds boost<\/strong><\/td>A market’s price is lifted above the standard line<\/td>Yes (it’s a normal cash bet)<\/td><\/tr>
Second-chance<\/strong><\/td>Your stake is returned as a bonus bet if the bet loses<\/td>No (returned as a bonus bet)<\/td><\/tr>
No-deposit free bet<\/strong><\/td>A free bet just for registering<\/td>No<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n

The odds boost is the one type where you bet with cash and keep the stake, which often makes it the best-value promo of all when the boosted price is on a bet you would have made anyway.<\/p>\n\n\n

The true value of a bonus bet<\/h2>\n\n\n

Because the stake isn’t returned, a bonus bet is worth less than its face value. Place a $100 bonus bet at even odds (+100) and a win returns $100 profit, not $200; at +150 it returns $150. Once you account for the fact that you only keep the profit, and that some bets lose, a bonus bet is generally worth around 70% of its face value<\/strong>: a $100 bonus bet is worth roughly $70 in real terms. The way to extract the most is to use it on a single bet at medium-to-longer odds (around +150 to +300), rather than splitting it across short-priced favourites where the returned profit is small.<\/p>\n\n\n

Bonus bets vs cash<\/h2>\n\n\n

It’s worth being clear on the difference. Cash winnings are yours to withdraw immediately. A bonus bet’s stake is consumed when you use it, you keep only the profit, and that profit may itself carry a small rollover before withdrawal at some books. This is the single most common source of ‘why can’t I cash out my bonus’ confusion. Treat a bonus bet as a discounted shot at a profit, not as free money in your balance.<\/p>\n\n\n

Reading the wagering and terms<\/h2>\n\n\n

Four terms decide whether a bonus bet is worth claiming: the minimum odds<\/strong> (often around -200 or +100, so you can’t use it on heavy favourites), any rollover<\/strong> on the winnings before withdrawal, the expiry<\/strong> (commonly 7 to 30 days), and any maximum win<\/strong> cap. A deposit-match offer adds a playthrough requirement on the bonus funds, so a $200 match at low rollover beats a bigger one buried under heavy terms.<\/p>\n\n\n

How to claim a bonus bet<\/h2>\n\n\n
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  1. Open an account at a licensed book through a tracked link and verify your identity.<\/li>\n\n\n
  2. Make any qualifying deposit, and opt into the offer where required.<\/li>\n\n\n
  3. Place the qualifying bet (for a first-bet or bet-and-get offer) at or above the minimum odds.<\/li>\n\n\n
  4. Once the bonus bet is credited, use it on a single bet at medium-to-longer odds before it expires.<\/li>\n\n<\/ol>\n\n\n

    Common mistakes to avoid<\/h2>\n\n\n