This guide has mostly covered welcome bonuses, but those are not the only types of sportsbook promotions available in Canada. Far from it actually. Most sportsbooks have at least two or three ongoing promotions available for existing customers on top of their general welcome bonuses.
Here are some examples of sportsbook promotions you will see once you start betting on sports in Canada:
Welcome Bonuses
Welcome bonuses refer to any sportsbook bonus available exclusively to new bettors. You cannot claim a welcome bonus if you already have an account with the sportsbook offering it. Sportsbooks use welcome bonuses to bring in new players and to incentivize you to sign up for their sportsbook over their competition.
Deposit Match Offers
Deposit match offers are promos where a sportsbook will give you bonus bets equal to the amount of money you put in with your first deposit. Basically, these offers allow you to double your money. Some sportsbooks go beyond that and will match 120% or more of your first deposit. Most of the best sportsbook promotions in Canada are deposit match offers.
Bet-and-get Offers
Bet-and-get offers give you a set amount of bonus bets once you place your first wager. For example, many sportsbooks have ‘Bet $5, Get $150’ promos that pay out $150 in bonus bets once you place your first $5+ wager. Some sportsbooks have additional terms, such as conditional bet-and-get offers that only payout if you win your first wager.
First Bet Offers
First bet offers, also called first bet insurance promos, allow you to get your first bet back if you lose. For example, one of the Betway Canada welcome bonuses will give you up to $200 back if you lose your first wager. These are very popular welcome bonuses, but unfortunately don’t provide any guaranteed funds.
Boosted Bets
Boosted bets are select bets that sportsbooks offer increased odds for. For example, a wager could normally have +100 odds, but will be listed at +500 odds if it’s included in a boosted bets promo. This would be a very generous boosted bet promo, since most enhanced odds are typically already long-shot wagers like multi-legged parlays.
Profit Boosts
Profit boosts are essentially boosted bets that you control. When you get a profit boost, you can apply the boost to any eligible bet. This is a great alternative compared to having to choose from a list of boosted bets chosen by the sportsbook.
Referral Bonuses
Referral bonuses are sportsbook promos that allow you to earn bonus bets when you convince someone else to sign up. Most sportsbooks have referral bonuses. They will give you a unique code or invite link that you can share with your friends. If someone signs up using your link/code, you and the person who uses the code can claim bonus bets.
VIP Rewards
Sportsbooks love to reward regular players with exclusive VIP rewards. These can be larger cashback offers, access to exclusive bonuses, free bets, faster withdrawals, and even a priority account manager. However, not all sportsbooks have loyalty programs, so you will have to be a bit selective if you want to regularly claim VIP perks.