Canada's Best Online Betting Bonuses

With the online sportsbook marketplace becoming even more competitive as new betting sites enter the fray each month, bettors are being bombarded with new bonuses and promotions like never before. Every betting site wants you to sign up with them, but there’s just not enough time in the day to give them all a go. Fortunately, you won’t have to.

There are a bunch of welcome bonuses and sign up offers out there, but there are also a few promotions for existing players too. Whether you’re looking to grab a bonus at a hockey betting site, or want a bonus for betting on tennis, our quick guide to sports betting bonuses will give you everything you need to know to pick out the best bonus for you. Once you’re done, you can choose from our list of top sports betting sites – we’ve only picked out the best on the market.

Types of sports betting bonuses

Matched deposits

The matched deposit bonus, which is also often used by online casinos, is also a popular sportsbook offer. It’s very straightforward in that a bettor makes a deposit and it will be matched (up to a certain amount) by the bookmaker. You might find a sportsbook that welcomes you with an offer of 100% matched first deposit up to $100, for example, which basically doubles your initial qualifying bet. Sounds great, right?

There is almost always a wagering requirement attached to a matched deposit bonus, which will need to be cleared before you can bank this money and any winnings made from it. Wagering requirements involve betting the value of the bonus, the qualifying bet, or a combination of the two a set number of times before you claim your winnings. It’s best to remember that full T&Cs apply when investing in a matched deposit.

Matched bets

Matched bets are largely the same as matched deposits. The only difference here is that the sportsbook operator will credit new customers with their bonus funds once they’ve placed your first bet, rather than making your first deposit.

Free bets

This is probably the most popular betting bonus on the market – you’ll find a free bet offer at almost every top sportsbook. It’s nice and simple – all you need to do is place a qualifying wager at (or above) the minimum stake amount and at odds greater than a specified amount. For example, you may be offered the chance to bet $10 and get a $10 free bet.

One clear benefit of a free bet to new customers is that it gives you a lot more flexibility with your initial bet. If the first bet doesn’t land a winner, you’ll still have your free bet in your locker.

‘Risk-free’ bet

As the name suggests, this is the safest bet you can get. If you don’t land a winner, you get your stake back! There is a small catch – the maximum amount refunded is usually capped at a figure between $50 and $100. Plus, the returned stake is usually in token form, so it’s non-withdrawable. That aside, this is still a decent offer that allows new customers to bet with a little more confidence knowing that at the very least, they’ll have their stake returned as a free bet.

No deposit bonus

While you’ll usually find this kind of offer at online casino sites, there are a few sportsbooks that are now giving bettors the chance to get in on the fun too. No deposit bonuses do exactly what it says on the tin – you can claim a betting bonus without making a deposit. A great option for bettors who essentially want to try before they buy.

Other sports betting promotions

As well as exiting welcome bonuses, the best online sportsbooks offer a great selection of frequent promotions for existing and new customers. Whereas bonus offers are designed to attract new customers, promotions keep the existing customers coming back. These vary from betting site to betting site but here’s a selection of the most popular promotions to look out for.

• Frequent price boosts.
• Parlay insurance – money back when your parlay loses by one leg.
• Request bets using social media
• Enhanced odds accumulator bets – often found on high profile events, like heavyweight boxing
• Free bet club for players who stake a certain amount on a weekly basis.

What’s the best betting bonus?

Sadly there is no definitive answer to this, instead the best bonus is the one which gives you the best chance of earning withdrawable winnings. If you are a single selection punter, for example, then the free bet is a solid choice, but if you’re likely to place a range of accumulators then a matched deposit bonus offer might suit you better. One thing we are certain of, however, is that you’ll find the perfect bonus for you right here at Compare.bet Canada.

What’s in the small print?

A betting bonus will often come with a variety of terms and conditions that will affect how you play. It’s, therefore, very important that new customers check the small print to see what T&Cs apply to the bonus and how they can be met. Let’s have a look at the bonus T&Cs you are most likely to come across.

Wagering Requirements

Wagering requirements are one of the most common conditions attached to betting bonuses and they can have a big effect on how you play. They stipulate that before you can claim your winnings from a bonus, you have to first wager the value of your qualifying bet, your bonus amount, or a combination of the two, a set number of times.

A great example of wagering requirements in action is Spin Sports 100% up to $200. The operator states that before you can withdraw any bonus funds, you must wager it x5. This means if you claimed a $100 bonus, you must place $500 of wagers before you can convert your winnings into real money.

Minimum Odds

A condition you will often see attached to your bonus are minimum odds. These mean that there are only certain bets you can make in order to fulfil the requirements. These min odds will often be pretty small, however, usually between 1.3 and 2.0, meaning it shouldn’t be too hard for new customers to make the correct bet.

Minimum Deposit

With bonuses like matched deposits and matched bets there is often a minimum amount you have to first deposit in order to claim the bonus. Using Spin Sports 100% matched deposit up to $200 again as an example, you must make a minimum deposit of $10 in order to claim this exciting welcome bonus.

Maximum Winnings

There will normally be a max limit on how much you can win from a bonus or free bet. Online bookmakers use their promotions to attract new players and reward existing players, but if their customers regularly win big using their bonuses, then the site would struggle to make any money.

Time Limits

Once new customers have claimed their bonus and worked out how to use it, they will often then have to meet the requirements in a set time. If they haven’t wagered the required amount of times or bet against the specified odds, then the bonus will expire and any winnings will be lost. The standard timeframe for sportsbooks tends to be 14 days, but this can differ from site to site. Some operators are pretty generous, with 888 allowing new customers 90 days to clear their wagering, but others are far less generous.

Mobile bonuses

One of the great things about betting bonuses is that new customers can claim them on their mobile as easily as they can on their desktop. Mobile betting has improved enormously in recent years with fully optimized mobile sites and industry-leading apps offering customers a top-quality betting experience from wherever they are in the world. Punters can keep up to date with the site’s best new bonuses and odds through push notifications and can even claim mobile exclusive promotions in some cases.

How to Pay

There are lots of ways you can bet online these days, from standard credit card and debit card transactions to sophisticated e-wallets like PayPal, and Interac e-Transfer. But there are some payment methods that you may not be able to use to claim certain bonuses. The MansionBet welcome bonus, for example, doesn’t allow new customers to use PayPal to make a qualifying deposit, meaning you must use a credit card or debit card to be eligible for the offer. It’s, therefore, best to check your sites T&Cs before you go ahead with a bonus.

Pros and Cons of E-wallets

Event-based bonuses and promotions

Online sportsbooks will offer a range of different bonuses depending on each sport. From risk-free player props wagers on MLB games to NBA parlay insurance, there is a lot on offer. Let’s have a look at the way bonuses work in different sports.

Football

Both the CFL and NFL are popular in Canada, and this leads to some exciting bonuses. Free bets are now wildly popular, and most sportsbooks will have something waiting for you. Let’s take 888sport, for example. Bettors can earn a $5 free bet on NFL Sundays when they place a $20 accumulator bet with four or more selections with minimum odds of 1.40 on each leg.

Ice Hockey

When the NHL season is in full swing, bettors at the top Canadian sportsbooks are showered with a plethora of hockey-related promotions. One of the most popular offers is boosted odds on singles and enhanced multiples. These promotions are relatively simple, so bettors aren’t burdened with lengthy T&Cs. The sportsbook operator will pre-select the matches and mark up the odds on specific markets; typically the money line or spread, giving you more bang for your buck

Soccer

Soccer may not be the number one game in Canada, but it’s still a thrilling sport for betting. Due to its global popularity, the soccer betting markets have some of the most exciting bonuses around. A current favourite has to be the in-play betting bonus. These usually work similar to a free bet club. After placing a specific amount on in-play soccer matches, the sportsbook will load your account with a free bet. Commonly, this free bet has to be used on in-play markets, too.

Accumulators

Accumulators, also referred to as parlays, are a very popular feature of the modern online betting industry and they regularly come with a range of different bonuses that can increase the already impressive winnings you would win from an accumulator.

Accumulator Insurance

Lots of top bookmakers now payout the value of your stake as a free bet when just one leg of your accumulator lets you down. This promotion isn’t available on every market and is usually reserved for five-leg accumulators and above, but it’s a great safety net to fall back on should your bet fall short.

Accumulator bonus

This fairly simple bonus can drastically improve the value of your accumulator the more selections you have. The sportsbook will reward you for each selection you have in your accumulator. Although there are variations between betting sites, you can usually expect a 5% on 3-leg accumulators through to 80% or more for 15+ leg accas.

Enhanced accumulators

If you don’t know what selections to make then you can get the sportsbook to do the hard work for you. Enhanced accumulators are on offer daily at the best sites and, although at a higher price than originally offered, all you need to do is pick the right one for you.

Place your bets!

Now we’ve shown you the ropes, it’s time to get out there and grab yourself a bonus! Not sure where to start?

Follow these 5 simple steps to claim your exclusive betting bonus:

1. Check out our list of top sportsbooks
   Our review team has filtered a list of hundreds down to just the very best sports bookmakers in Canada today. There’s plenty to choose from so you’re sure to find the perfect site for you.
2. Compare bonuses
   Our review team has done the legwork to bring you a list of top sportsbooks that are jam-packed with some of the best bonuses on the market. Now it’s your job to pick out a favourite. Compare the welcome bonuses on offer and choose one that best suits your betting style. Remember, bigger doesn’t always mean better! Keep an eye out for wagering requirements of each offer as these are often a great way to set a decent bonus apart from the very best.
3. Sign up
   Once you’ve picked a favourite, follow our link to sign up and become eligible for an exclusive welcome bonus. Registering an account is simple and can almost always be completed within a matter of minutes. All you’ll need to do is provide a few personal details.
4. Deposit
   Unless you’ve opted to claim a no deposit bonus offer, you’ll be required to make an initial deposit before you can claim your bonus. The top bookmakers on our list offer a wide range of payment options- whether you want to make credit card or debit card deposits, or would prefer to use an e-wallet like PayPal, we’ve got a sportsbook for you. Once you’ve deposited your first deposit, your bonus will be automatically credited to your account immediately.
5. Bet
   Now you’re ready to use your bonus funds – all you need to do is find the best betting opportunity for you. The top betting sites feature a huge range of sports, many with hundreds of pre-match and in-play betting markets to choose from – you’ll be spoiled for choice! Simply add to your wager slip, choose your stake and qualifying bet at one of our handpicked top gambling sites.