Best Betting Bonuses Canada

Sports betting bonuses include a series of promotions and incentives offered by sportsbook sites to either attain new bettors or retain current customers. These bonuses can come in various forms such as free bets, deposit bonuses, improved odds, and many more.

By utilizing these bonuses you can both increase your potential winnings and minimize some of the risks that are involved when wagering. Playing with bonus money is comparable to wagering “free money” although we use that term lightly as it’s not entirely accurate.

While some of these bonuses may appear to be free cash, don’t be misled. You can turn betting bonuses into real money with the right approach but there are generally a series of restrictions and requirements you must follow to collect your payout.

Common Sports Betting Bonuses

Now we’ve covered what sports betting bonuses are in a general sense, let’s look at which specific bonuses you can expect to come by and what they offer.

Choosing which bonus suits you best will come down to you as a player. Each form of bonus has it you will likely appeal and you may find some more attractive than others.

The trick is to focus on the potential value of the bonus. You might immediately begin looking for the biggest bonus available but this might not always be the best choice. Regardless of the size, choose the bonus that is most likely to increase your winnings and minimize your risk.

Here are some of the most popular types of sports betting bonuses.

• Registration Bonus

One of the simplest incentives is a registration bonus. Also referred to as sports betting sign-up bonuses, these are offered in return for registering an account with a new sportsbook.

As it’s fairly straightforward to receive a sign-up bonus the rewards tend to come in the form of a free bet or some sort of match bonus. Consider opting for a free bet if you’re new to sports betting and want to give it a try risk-free. 

This is a great option if you’ve found a new sportsbook site to play on and want to test the platform before making a substantial deposit. 

• Cash Bonus

Cash bonuses can apply to many incentives as it refers to how you will receive the bonus. In this case, it will come in the form of playable cash deposited into your account.

Many players enjoy cash bonuses as they tend to come with fairly lenient terms and conditions. However, if bonuses come without too many restrictions then the amount is usually fairly limited.

You might be tempted by a cash bonus but you may find other options far more valuable. For instance, a match bonus can work out to be far more substantial if you’re willing to make the initial deposit.

• No Deposit Bonus

As the name implies, no deposit bonuses are given to you for an action that does not require you to make a deposit. This may not be as common in Canada but if you happen to find one it can make your initial wagers risk-free.

As these bonuses don’t require an investment on your part the amount will be limited and come in the form of free bets, small cash bonuses, or something similar. You can also find that they come with exceptionally high wagering requirements or other terms.

• Deposit Bonus

Deposit bonuses are one of the most common incentives and can be extremely valuable if you take advantage of the opportunity. When searching for a new sportsbook to place your bets be on the lookout for a good first deposit bonus scheme.

You can usually expect to receive these rewards in the form of a match bonus which can potentially double your funds. The best sportsbook sites will match the entire amount of your deposit.

Deposit bonuses will come with some terms but it’s worth noting that there is usually a limit to how much they will match. This can vary substantially depending on the site but limits tend to lie in the $100-$300 range.

• Re-up Bonus

Re-up bonuses commonly referred to as a reload bonus, are given in return for making additional deposits into your existing account. This is a great way for sportsbook sites to keep you playing on their platform and prevent you from searching for other bookies with attractive incentives.

A sports betting reload bonus will probably be in the form of a match bonus as well, although it’s unlikely that the site will match the full amount of your deposit. The best reload bonuses can match up to 50% of your deposit but it’s more common to see 5%-30%.

If your current sportsbook doesn’t offer decent Re-up bonuses it might be more beneficial to find a new site with a good first deposit bonus.

• Improved Odds

As you likely know, betting odds are one of the first things to consider when placing a wager on sporting events. The opportunity to increase those odds for a larger potential payout only stands to benefit you and your wallet.

This is not lost on sportsbook sites and that is why it’s common for them to offer improved odds in the form of a bonus. You can use these bonuses to increase the winnings of a given wager without having to bet more.

The terms can be different for each site but it’s likely that you will be able to choose an event to bet on and increase the given odds before placing your bet.

For example, if you choose to bet on your favourite NHL team to win the game and the bookie offers odds of 2.0, you can use the bonus to increase the odds to possibly 3.5 or 4.0 before placing the bet.

This can significantly boost your winnings but be sure you meet all of the terms and conditions so you can receive the payout.

• Free Bets

Free bets are a fun way to test a platform or branch off into new sporting events if you feel inclined. These bonuses will come in the form of a small amount of playable cash to be used on a single wager.

You might find a free bet offer pop up if you’ve had an unexpected losing streak or have placed a few concurrent wagers. Similar to cash bonuses, free bets tend to have fairly lax wagering requirements as the potential winnings are relatively small.

• Risk-Free Bets

Risk-free bets might be a little less common than other types of bonuses but be sure to capitalize on the opportunity should you find one. They are a great way to place wagers without the risk of losing the investment.

When you use a risk-free betting bonus you will need to place a bet using the money in your account but should you lose, the funds will be returned. If you happen to win the wager you can collect your payout as per usual.

• Juice Promos

Sportsbooks meet their margins by taking a small commission from wagers. This is what allows them to continue operating and meet the demands of payouts. This commission is referred to as the vigorish but more commonly used slang terms are vig or juice.

As an added incentive different gambling sites might give you a bonus that reduces the vig for a specific wager you place. This will increase your winnings as the percentage of the commission taken is reduced or possibly waived completely.

• Rebates

If you find yourself placing frequent bets in high numbers then you should be on the lookout for rebate bonuses. Sportsbooks will take the total amount that you have wagered over a certain amount of time and return a percentage of that amount to your account.

Depending on the site this may occur weekly, monthly, or even yearly. Even a small rebate can add up quickly if you make a lot of bets over time. The best rebate bonuses can return as much as 10% of your wagers but most will be 1%-5% if they are offered by the sportsbook.

• Loyalty Points

If you’re committed to a specific gambling site and don’t intend on switching you should be aware of any loyalty programs they might offer. It’s common for sportsbooks to offer veteran players a laundry list of benefits to keep them interested.

While loyalty programs can vary in the structure, you might find a sort of point system in place. The points are rewarded for performing certain actions and can then be used in the future to redeem rewards and bonuses.

• High Roller Bonus

If you consider yourself a high roller and you tend to place large bets more often than not, your sportsbook might reward you. We always recommend following responsible gambling practices but should you have the money to spare, high roller bonuses can be very valuable.

Similar to match bonuses, high roller bonuses will likely match a percentage of your deposit but the limits will be much higher than those usually offered. If you’re planning to deposit around $1,000 or more you should check for any high-roller incentives the site offers.

How Do Sportsbooks Benefit From Bonuses?

As we mentioned sportsbooks offer betting bonuses as an incentive for players to use their sites. As you begin to check out some of the sites on our list of the best betting bonuses in Canada you may begin to wonder how sportsbooks can sustain such promotions as some are quite substantial.

While betting bonuses benefit you as the player, sportsbook sites are not offering incentives out of the goodness of their hearts. For gambling sites to remain within their margins, they rely on a few key factors when offering bonuses.

To truly benefit from sportsbook bonuses you need to understand the sports gambling industry in Canada and what sportsbooks stand to gain from these incentives. Let’s take a closer look at exactly why sportsbooks and gambling sites offer betting bonuses.

Attracting Bettors

First and foremost, sports betting bonuses are offered to attract you to a new site or keep you at the current platform you are using. The other points in this section are worth being aware of but we don’t want you to get the impression that sportsbooks are trying to mislead you.

As long as you stick to our list of the best betting bonuses in Canada you can rest assured that the site is reliable and won’t try any shady business.

Sportsbooks benefit from attracting you to their sites with bonuses as this makes you more likely to continue betting on their platform with your own money in the future. It’s a win-win situation as long as you practice responsible gambling.

In addition to attracting new bettors to their platforms, sportsbooks also offer bonuses to loyal members. This is meant to build brand loyalty as well as increase user engagement. Similar to online casinos, sportsbooks can have tiered incentives and VIP clubs in order to entice bettors to wager more. 

No Guarantees

If everybody won every bet they placed then gambling sites would be out of business in no time. Sportsbooks rely on the fact that not all wagers will win, thus reducing the amount they have to payout. They manage this by trying to keep the overall odds neutral for each contest. 

Some bonuses may even come with restrictions as to which events you can bet on. This prevents you from using the bonus to make a wager that has an exceptionally high chance of winning.

Be sure to review the terms before committing to a specific bonus to avoid overly restrictive conditions so you can still place wagers using the bonus on the sports you are familiar with.

Risk-Free Betting

When you feel like you receive “free money” in your betting account you may be tempted to venture out into the unknown and place wagers you might usually avoid. We recommend sticking to what you know when playing with bonuses to get the most value.

Sportsbooks count on people playing more liberally with bonus money which increases their chances of losing. It’s best to avoid temptation and wager on events and sports that you have experience with so you can make educated picks. This way you’re far more likely to win some bets and turn bonuses into withdrawable money.

Restrictions

As we’ve mentioned betting bonuses will come with terms and conditions that must be met to be able to withdraw any winnings. We’ll go into more detail on this later but it’s worth understanding why sportsbooks put these in place.

Common terms and conditions include wagering requirements, expiration dates, event limitations, and more. All of these conditions must be met for you to withdraw any winnings that were won using the bonus money.

It’s important to thoroughly review the fine print before registering for a specific bonus as your payout can be forfeited should you unknowingly violate any terms. Reliable sportsbook sites won’t try to trick you although they won’t be complaining should you accidentally lose a payout.

The best betting deals will come with terms that aren’t overly limiting so they should be easy enough to meet as long as you are aware of the details.

Sports Betting Bonus Terms And Conditions

We can’t stress the importance of reviewing the terms and conditions enough when it comes to betting bonuses. At first glance, some bonuses might appear to be fantastic but after considering the restrictions that are in place, you might change your mind.

Understanding the terms and conditions is important for a couple of reasons. As we mentioned the bonus might not be as attractive if it comes with exceptionally limiting rules. Just as important, you need to meet all of the terms and conditions to be able to withdraw your winnings as cash.

The last thing you want is to forfeit your winnings because of an oversight. For clarification, we have included some common terms and conditions to be familiar with.

Wagering Requirements

Wagering requirements is one of the most common conditions of receiving bonuses and also one of the most important to familiarize yourself with. Sportsbooks include these requirements to make sure the bonus money is being wagered multiple times before it can be withdrawn. This prevents you from immediately withdrawing the funds as cash.

Wagering requirements will be portrayed as a number. This number shows how many times the funds must be used in a bet before it can be withdrawn. The number can vary substantially depending on the sportsbook as well as the value of the bonus.

For instance, if the wagering requirement for a received bonus is 4, the amount of the bonus must be used in 4 separate wagers before it can be withdrawn. This can also apply to any winnings collected in consecutive bets with the bonus cash.

Expiry

Another common term tied to bonuses is an expiration date. The bonus must be used, and all other conditions met before a certain time frame or date.

We recommend using bonus funds immediately as it’s common for them to expire anywhere from 7 to 30 days after you receive them. Be sure to meet the deadline if you want to collect any payouts won with the bonus.

Minimum Odds

You may recall that we mentioned some bonuses cannot be used on any event or bet of your choice. To avoid bettors opting for a “sure thing” with bonus funds, sportsbooks will dictate minimum odds with which the bonus must be used.

Each sportsbook and bonus will likely have its own minimum odds requirements but you will find they commonly require odds of 1.5-3.0.

Betting Restrictions

Some bonus terms may prevent you from using the reward for specific types of bets. These restrictions may also apply to specific sporting events. 

This is usually the case if the bonus is offered to promote a specific sporting event such as championships. The bonus must be used to bet on the event they are promoting and it may not allow you to place bets such as futures or parlay.

Minimum Time Requirements

Nearly opposite to expiration dates, some bonuses will come with minimum time requirements. This is another way for sportsbooks to encourage you to use the bonus funds multiple times.

Generally ranging from 7 days up to one month, these conditions state that the funds must remain in your account for a minimum amount of time before they can be withdrawn. 

Multiple Bonus Restrictions

You may be tempted to capitalize on all of the bonuses offered by a gambling site at the same time, but unfortunately, this may not be possible.

A lot of sportsbooks require you to choose between various offers and hold only one bonus in your account at a time. This is not always the case but it is another common aspect of terms and conditions.

How to Use Betting Bonuses

Once you receive your bonus it’s time to begin placing your bets. As long as you stick to any terms and conditions that were agreed upon this process should be very similar, if not the same, as gambling with your personal funds.

Many gambling sites double as real money casinos as well as sportsbooks so you might have the opportunity to choose which platform you use the funds for, or the sportsbook may even allow you to use it on either.

If this is the case, you might find that free bet bonuses become free spins on slot machines, or cash bonuses are directly transferable to any casino games or sports bets.

When you choose to apply your bonuses to the sports betting platform, it’s worth understanding some of the common types of bets that are made and how they work. 

Some of the most common types of sports bets include the following:

• Game total–
  • With game total bets the bookie will set a predicted score that’s a combined total for both teams. All you have to do is place a wager on whether you think the combined total will be lower or higher than the score set by the bookmaker.
• Moneyline–
  • One of the simplest and most classic forms of bets, in Moneyline you simply choose which team you think will win and place your bet.
• Point Spread–
  • Betting the spread is extremely popular in leagues such as the NFL. The bookie will set a predicted point spread between the two teams. You will either wager on the favored team to win by more than the spread, or you have the option to bet on the underdog to either outright win the match or lose by less than the spread.
• Parlay–
• • For parlay bets to payout, you will need to place at least two or more different wagers on various games. For you to collect, all of your bets will have to win.
• Futures–
  • The bets are placed based on a prediction for a future sporting event. These bets are most popular in events such as the Superbowl, Stanley Cup, and NBA championships. At the beginning of the season, you can wager on who you think will win in the end.
• Live Sports Betting–
  • Sometimes referred to as live betting, these types of bets are modified as the event progresses. This new type of sports betting allows bettors to wager on various aspects as the game progresses. Not only does this allow for increased excitement for the bettor, but also higher variation of lines and odds that can be set by the sportsbook. 

How To Collect Free Bonus Winnings

As long as you meet any wagering requirements and additional terms, the time will come for you to reap the benefits of your picks and collect your winnings.

This is where the importance of choosing an appropriate sportsbook really comes into play. While it may be easy enough to register and make a deposit with any site, withdrawals are not always as straightforward.

Be sure to choose a site that accepts bettors in Canada before you register and begin playing. This means that you won’t run into any problems when making withdrawals. All of our recommendations for the best sports betting bonuses in Canada offer seamless withdrawals for Canadians.

Another aspect to consider when talking about the transfer of funds is the chosen payment method. Some of the fastest paying sites in Canada offer options such as eWallet, crypto, and more.

How To Choose A Betting Bonus

When you find yourself presented with a choice between different bonuses, it can be difficult to choose which one will suit you best. There are a few factors to consider to get the most out of the opportunity. 

Let’s discuss some key considerations when choosing between bonuses.

Bonus Type

This can take a bit of trial and error. If you’re new to the world of sports betting and bonuses it’s good to try out different types of bonuses to find the most valuable ones for you.

This can be greatly affected by how you play, your experience level, how much you’re willing to invest, and more. 

If you’re just beginning it’s a good idea to opt for bonuses that require very little investment and hold nearly no risk. This gives you the opportunity to familiarize yourself with the platforms, and work out any issues before placing bigger wagers. By using bonuses as a means of familiarization, bettors can minimize their risks and increase their chances of placing a successful bet. 

Bonus Value

When bonuses with a high dollar value begin flashing in your face you might be tempted to dive straight in but we encourage patience. Just because a bonus is big doesn’t mean that it is right for you. After all, a big bonus used on small odds won’t yield a big win. 

Always consider the value of a bonus rather than the size. This might mean comparing the initial investment to potential winnings or ensuring there aren’t overly restrictive wagering requirements.

Even for beginners who want to opt for a free bet because it requires no deposit, you might be better off choosing a match bonus that will double your playable funds and hold far more potential.

Terms And Conditions

The best sportsbooks in Canada will have a fine balance between valuable bets and terms. It’s unlikely that you will find decent bonuses with no restrictions or conditions so you’ll need to search for ones that have reasonable rules.

Remember that your winnings will likely be forfeited should you violate any terms so read them carefully and choose the ones you think you can meet in the required time.

Payment Method

Some bonuses are tied to specific payment methods. For instance, a sportsbook site may be promoting the use of PayPal and reward you with bonuses for using this method of payment.

Even if it doesn’t pertain to gambling, it’s likely that you already have a preferred payment method for online transactions. Search for a gambling site that offers bonuses that coincide with your banking methods.

Final Thoughts

As you learn to use sports betting bonuses you will find that you can increase your winnings while also responsibly mitigating risk. Sports betting bonuses in Canada are readily available for those who know what they are looking for or follow the right advice.

Here at Viabonus, we work hard to keep our bettors up to date and informed. This allows you the opportunity to make informed decisions which minimize your risk and increases the enjoyment of online gambling. We take responsible gaming seriously and expect the same out of our partners and sportsbook operators. 

You can rely on our tips and recommendations at Viabonus to ensure you are receiving the best betting bonuses in Canada and the most current recommendations. We are constantly updating our lists and content to coincide with recent developments in the sports betting industry.

Whether you’re a newbie in search of low-risk free bets, or you’re looking to get the most value out of your deposits with match bonuses, you’re sure to find what you’re after in our list of top gambling sites in Canada.