Betting Bonuses in Ontario
Our team has reviewed Ontario sportsbook sign up bonuses and evaluated their true value. Find out the limits for deposit and withdrawal, the flexibility of the terms, and compare bonuses based on the key parameters.
All Betting Sites with Welcome Bonus in July, 2024
- Special distinct points-based betting system.
- Live tracker for real-time events.
- Numerous Live streams.
- Daily fantasy sports available.
- Many markets and outcomes for top-tier games.
- Custom parlays with alternate lines for player props and totals.
- Separate Streaming Live section with multiple broadcasts.
- Extensive betting options.
- Wagering tips for basketball games.
- Over 35 different sports.
- Good selection of UFC markets and outrights.
- Same game parlays available.
Ontario Sportsbooks Welcome Bonuses by Amounts
| Bookmaker | Maximum Rewards | Key Value |
|---|---|---|
| DraftKings | $1 000 | The biggest deposit bonus |
| PointsBet | $1 000 | The reward is for Second Chance Bets and a Super Boosted Hidden Market |
| FanDuel Racing | $200 | Bonus bets for those whose first bets win |
| BetRivers | $250 | Second chance bet |
| BetMGM | $1 500 | The biggest second chance bet |
Top 3 Welcome Bonuses from Bookmakers
DraftKings – 20% bonus up to $1 000
New punters are welcomed with a deposit deal: 20% bonus up to $1 000. In other words, a customer must deposit $5 000 to be eligible to receive the maximum bonus amount of $1 000. Only the players who haven’t made any deposits yet are eligible for this offer. For every $25 played on any DraftKings product, the customer will receive $1 in bonus funds released into their player account ($5,000 deposit requires a customer to play through a cumulative total of $25,000 to receive the maximum bonus amount of $1,000). The play-through requirement must be met within ninety days from the date of the customer’s qualifying deposit to receive the maximum bonus award.
Benefits of betting with DraftKings:
- Huge selection of outrights
- Cutting-edge mobile app
BetMGM – $ 1 500 for second chance bets
You can get up to $1 500 paid back in bonus bets if your first wager loses. To be eligible for this offer, you have to sign up and deposit at least $10 into your BetMGM Sportsbook account. Then, place your first wager and receive up to $1,500 back in Bonus Bets if the bet loses. A Bonus Bet must be used within seven (7) days of being credited to your account. If your qualifying bet loses and it is in an amount greater than fifty dollars ($50.00), you will receive five bonus bets back in equal denominations of 20% of the total amount of the qualifying bet, up to $1500.
Benefits of betting with BetMGM:
- Over 35 different sports
- Good selection of UFC markets and outrights
PointsBet – $1 000 for second chance bets
This bookie offers a reward for Second Chance Bets and a Super Boosted Hidden Market: up to $1 000. You have to create a new PointsBet account, enter code WELCOME and place a fixed odds bet each day for 10 days. If one of your bets didn’t win, you can try again with the PointsBet Second Chance: you receive up to $100 back on your first fixed odds settled cash bet each day (10 days x $100 = Up to $1,000 in Bonus Bets). In addition, you can navigate to the “Exclusive Markets” page under your profile to receive an exclusive Canada Olympics Super Boost. New users will have access to boosted odds on Canada to win 5+ Gold Medals at the 2024 Olympics from -300 to +100.
Benefits of betting with PointsBet:
- Live tracker for real-time events
- Numerous Live streams
How to Choose a Welcome Bonus
The advertised description and the actual value of an offer often differ. Bookmakers may omit details that could disappoint you later. Here’s what to consider when choosing a good offer.
- Prize Money: Awards can be given as Free Bets or cash. With Free Bets, you keep the winnings but not the stake. Cash bonuses act like a deposit, adding directly to your balance.
- Wagering Requirements: To withdraw your prize, you often need to bet the prize amount (and sometimes your deposit) multiple times. Simpler wagering conditions make this process easier.
- Minimum Odds: Bonuses often require bets to be placed at minimum odds, which indicate the likelihood of an outcome. For example, odds of 2.0 imply a 50% chance of winning.
- Minimum Deposit: The welcome offer usually has a required minimum deposit to activate it.
- Types of Bets: The conditions for single and acca bets are generally similar, requiring equal odds probability.
- Payment Methods: Not all payment methods may qualify for bonuses. It’s essential to check if your preferred method is eligible.
- Validity: Bonuses have an expiration date. A longer validity period gives you more time to use the bonus and meet any requirements.
Ontario Betting Bonuses in Comparison
| Bookie | Sign up offer | Max bonus amount |
|---|---|---|
| DraftKings | 20% up to $1 000 | $1 000 |
| PointsBet | $1 000 if your bet loses | $1 000 |
| FanDuel Racing | $200 if your first bet wins | $200 |
Types of Sportsbook Bonuses
Online bookmakers offer various promotions, with some targeting new players and others aimed at retaining existing ones. These bonuses are usually categorized based on their format and how they are awarded. Understanding these distinctions helps you find the most suitable promotion.
Bookmaker promotions are generally divided into two main types: Free Bets and Cash. Each type has its own set of rules and benefits, allowing you to use them differently.
Free Bets
These are not real money but credits provided by bookmakers. When you place a bet using Free Bets and win, you usually keep the winnings but not the value of the Free Bet itself.
It offers a risk-free betting opportunity since you’re not using your own money. However, winnings often come with conditions that must be met before withdrawal, and the initial stake is not retained.
PointsBet provides free bets in the form of second chance bets that you can wager if your first bet loses.
Cash Bonuses
Cash prizes are deposited directly into your wagering account. Unlike with Free Bets, both the winnings and the prize amount are paid out in this case.
DraftKings offers a deposit bonus for newcomers.
Points and Prizes
Alternatively, some bookmakers reward loyal customers with points or prizes, which can range from electronic goods to tickets to sporting events. These bonuses are exclusively for existing customers to encourage continued engagement.
At PointsBet, you can win tickets, trips, flights and more.
Bonuses Receipt Conditions
Let’s discuss how to obtain various incentives, with a particular focus on welcome offers, as they are often the most generous in Ontario.
For New players
- No-Deposit Bonus. This kind of promo is quite rare. This offer doesn’t require a top-up to be activated. The bookmakers listed in this article don’t offer no-deposit bonuses.
- Deposit Bonus. New customers receive this incentive when they fund their account for the first time. It’s typically a percentage of the deposit amount, often starting at 100%, though there are exceptions. DraftKings provides 20% up to $1 000.
For Regular Players
For regular punters there are various types of rewards to encourage them to visit the site.
- Loyalty Programme: Rewards long-term customers with offers, points, or cash.
- Special Event Bonuses: Linked to particular events, offering Free Bets, boosted odds, or cashback.
- Refer a Friend Promotion: Compensation for introducing new players to the platform, usually in cash. FanDuel gives $50 for inviting a friend, DraftKingds gives a $100 bet for a new client.
Typical Mistakes when Using Bonuses
One of our primary goals is to inform newcomers about potential pitfalls, helping you avoid disappointment as you start your betting journey. Here are some common scenarios where rewards might be lost and tips on how to avoid them.
Skipping the Promo Activation Step
In some cases, you need to enter a special code during registration to receive the bonus. If you skip this step, you won’t be able to claim the incentive later because your account will already be registered, and creating a second account is not allowed.
Failure to Meet the Wagering Rules
It’s crucial to understand the wagering requirements, including the necessary odds. For instance, if you place a bet at odds of 1.50, believing it meets the criteria, but the terms require odds of 1.80, that bet won’t count towards the wagering requirement. You won’t be able to withdraw your winnings until you place a qualifying bet within the timeframe specified by the bookmaker. If the bonus depends on the first bet only, you won’t have another chance to meet the requirements and qualify for the bonus again.
Unhappy with Your Bonus
In some instances, a bookmaker may offer multiple types of welcome bonuses. However, you need to be cautious, as claiming one bonus usually makes the other offers unavailable. This detail is typically outlined in the terms and conditions on the website.
Deposits and Prize Money Wagering
To withdraw your winnings, you might need to wager not only the bonus amount but also your initial deposit.
FAQ
Yes, you can register with multiple betting sites and take advantage of their offers. The key rule is to have only one account per platform.
In most cases, you won’t be able to withdraw your reward or any winnings from it immediately. Most offers come with wagering requirements that must be fulfilled before you can make a withdrawal.