What Are Deposit Match Bonuses and How Does It Work?

Online casinos and sportsbooks use promotions to stand out and entice new players. These propositions also help the operators retain players, making them more engaged in the game. 

Deposit Match Bonuses are among the promotional reward systems that most operators offer. The appeal behind this incentive lies in its simple yet equally rewarding premise.

Before making your initial deposit, read this article, which answers the two most common questions for a newbie:

  • What deposit matches are?
  • How deposit match bonuses work?
  • The types of deposit match bonuses.
alert icon

Highlights of the Article

  • Deposit Match Bonus is a reward system that aims to attract new players, where initial deposits match up with the site’s given bonus.
  • Although the deposit match bonus caters to new players, some operators also make the bonus available to existing players.
  • Sportsbook match bonuses usually do not require a promotional code, but casino operators do.
  • Wagering requirements specify how much players must wage in a specific timeframe.
  • Some sportsbooks offer a balanced compromise for bettors: a 100% refund or winning the game.
  • Read the terms and conditions of the betting sites before making an initial deposit.
  • Most operators offer the deposit match bonus once only; however, some offer multiple deposit match bonuses.
  • The house advantage temporarily pauses with the enhanced odds due to bonuses offered to the players.

Explaining Online Betting Deposit Match Bonuses in 2024

deposit match bonuses

A deposit match bonus is an incentive for first-time players. It is often tied to sign-up offers, which players receive after making their first deposit. Operators match a percentage of the player’s initial deposit, providing extra funds to extend their playtime.

Alt Tag: Difference between Sportsbook and Online Casino

The table below shows the subtle difference between sportsbook and online casino match bonuses: 

SPORTSBOOK DEPOSIT MATCH BONUSONLINE CASINO DEPOSIT MATCH BONUS
Does not require big deposits. 
No need for a bonus code.
Some may require a big deposit.
Mostly offers bonus codes.

Typically, percentage bonuses equally match the deposited money up to 100%. However, some casinos or sportsbooks can offer a higher percentage of up to 500% and go as low as 20%. 

Continue reading to get familiar with the basics of deposit match bonuses, such as claiming, withdrawing, and choosing the best deposit bonus for you. 

hint emoji

Did You Know?

Blockchain casinos are more secure than the traditional online casinos. They operate on a decentralized network, where cyberattacks cannot down the whole system instantly as the network continues to function using other nodes.

The security and transparency in crypto gambling have led to the rise of Provably Fair gaming. More gamblers prefer fun, fair, and safe gameplay. Another notable difference between the two casinos is the currency used:
a. Blockchain casinos use digital assets or cryptocurrencies such as Bitcoin and Ethereum. 
b. Traditional casinos mainly use fiat currency like USD and AUD. 

Claiming and Withdrawing a Deposit Match Bonus

From a broader perspective, sportsbooks and online casinos have the same process. On a smaller scale, these operators vary in some steps in claiming and withdrawing the deposit match bonus.

Some use bonus codes upon registration, while others input them when depositing. Aside from that, they also differ in terms and conditions, such as:

  • Wagering/playthrough requirements
  • Eligible games
  • Winning caps
  • Time limits
  • Payment exclusions
note emoji

Side Note

US States use geofencing software for their betting sites to verify players’ locations. The software ensures that bettors place their bets within the state’s borders.

The following two sections outline how to claim and withdraw the deposit match bonus received from the operators.  

How to Claim a Deposit Match Bonus?

Claiming the deposit match is quick and straightforward, only requiring bettors to make an initial deposit. Once done, the bonus will go straight to your account. Bonuses vary depending on the platform.

To start, gamblers must consider the right online gambling site and the ideal game. Games like Crypto Hi-Lo are preferable due to their simple mechanics and rewarding gameplay.

The most common offers are as follows:

  • Cash bonus
  • Multiple-tier bonus 
  • Match bonus with complimentary free spins

Note that the more generous the bonuses offered and claimed, the more restrictive the withdrawal requirements are. 

bulb emoji

Quick Tip

Some operators require you to use a promo code to receive a bonus. Read and check their terms and conditions, as this will appear within the T&Cs or on their site.

Below are the easy-to-follow instructions on how to claim your deposit match bonus.

1. Choose

Conduct thorough research on the site before you register and place your bet. Choose a legal and secure gambling site with numerous deposit match bonuses.

bulb emoji

Quick Tip

Several sportsbooks on the market offer different bonuses, such as welcome or deposit match bonuses. The best deposit match bonus sportsbooks are as follows:
– DraftKings
– Bet365
– FanDuel
– BetMGM
– Caesars

2. Register

Some operators require you to use a promo code to receive a bonus. Read and check their terms and conditions, as this will appear within the T&Cs or on their site.

Once you’ve researched, sign up with your preferred site. Fill in the necessary details, such as your name, address, and contact information. Some operators may require email or mobile verification.

note emoji

Side Note

Creating multiple accounts can lead to a permanent ban. Online casinos and sportsbooks use software and techniques to detect multiple account usage. Operators strengthen identity verification and track patterns such as proxy server usage to combat this online fraud.

3. Deposit

After creating an account, make an initial deposit. Ensure the funds loaded into your balance meet the required minimum deposit.

Some operators require a bonus code during registration or when depositing. These bonus codes are available in promotional emails and advertisements. 

bulb emoji

Quick Tip

Online gambling platforms accept different payment methods, such as e-wallets, cards, and even cryptocurrency as a mode of payment. Here are some popular methods for depositing funds:

– PayPal
– Online banking
– Visa
– Mastercard
– American Express

4. Claim

Bonuses vary per sportsbook and online casino. You can claim the deposit match bonus once you meet the minimum first deposit.

  • If the bonus is cash, the platform shall load it into your account wallet. 
  • If it’s a free bet or spin token, the site will credit the amount to your account. 
bulb emoji

Quick Tip

If you want to withdraw your payouts within 24 hours, choose any of these banking methods:
– BTC and other crypto
– Paypal
– Skill
– Neteller

5. Play

You can enjoy your funds once the bonus goes to your account. Head to the game lobby and choose any eligible game. Make sure that you place your bets on eligible games or events. Otherwise, it will not count toward the rollover. 

thumbs up emoji

Helpful Article

If you are in another country or state, do not forget to include gambling legislation in your research to safely play online without breaking the law. Read the article to know if the country you are visiting doesn’t have legal gambling.

How to Withdraw a Deposit Match Bonus?

The withdrawal requirements for the deposit match bonus are trickier than claiming them. Bonuses are subject to terms and conditions which bettors must strictly fulfill. These conditions prevent the bonus from being withdrawn immediately.

The site’s policies set the minimum amount of money the players must wage or the minimum to start. 

hint emoji

Did You Know?

Most countries tax the payouts of gamblers. For example, in the United States, the government taxes its gamblers as they consider the payouts as income. Note that tax rates vary per state.On the other hand, Australia is the complete opposite of the US concerning taxing its betting citizens. Australia doesn’t tax the gambling winnings of casual or professional gamblers.

Before you can withdraw your deposit match bonus and any winnings associated with it, you must do the following:

1. Meet the Wagering (or Playthrough) Requirements

Every gambling platform imposes wagering requirements to avoid exploitation of the reward system. Betting sites impose these requirements to ensure players gamble more before withdrawing the bonuses.

Wagering requirements specify the minimum amount of money a player must wage before cashing out any winnings made from the bonus funds.

Operators express the bonus rollovers in multipliers. Players can calculate how much money they need to bet by multiplying the bonus they receive by the wagering requirements.

note emoji

Side Note

Before sportsbooks accepted cryptos, eChecks were once the most popular banking method in the mid-2010s. eChecks are a faster withdrawal method than bank cards but slower than cryptocurrency. 

Expected Deposit Match Bonus Calculation

Before calculating the required total bet, you must know the expected deposit match bonus. The house represents it by percentage, with a bonus cap. For example, the Terms and Conditions are as follows:

  • The house offers a 200% rate for every deposit match bonus; 
  • A minimum initial deposit of $50;
  • A maximum match bonus of $2,100.

Under the conditions above, you will also learn the minimum match bonus and maximum wage required to obtain the match bonus cap. To calculate, multiply the initial deposit by the match deposit bonus percentage.

By referring to the abovementioned conditions, you can calculate the following:

MINIMUM DEPOSIT MATCH BONUS CALCULATION
Min. Deposit Match Bonus = (Min. Initial Deposit) x (Rate)
Min. Deposit Match Bonus = $50 x 200100
Min. Deposit Match Bonus = $100
note emoji

Side Note

The online gambling platform sets a fixed maximum match bonus regardless of whether the wages exceed the maximum initial deposit. You will not receive a match bonus if you wage below the minimum.

MAXIMUM INITIAL DEPOSIT CALCULATION
Max. Deposit Match Bonus = [(Max. Initial Deposit x Rate) + Max. Initial Deposit]
Let y = maximum deposit match bonus & n = maximum initial deposit
y = [(n x 200100) + n]
y = [(n x 2) + n]
y = (2n + n)
n = y3
n = $2,1003
Max. Initial Deposit = $700
Required Total Bet Calculation

Using the abovementioned T&Cs, suppose you received a $200 bonus from DraftKings sportsbook deposit match for an initial deposit of $100. The requirement for the bonus comes in at 20x. 

There will be two scenarios for the wagering requirement. Each will have a different calculation.

Scenario 1: Bonus money is multiplied by the requirement multiplier. The total money to wage would be $4,000. 

Total Bet = Bonus Money x Wagering Requirement     = $200 x 20Total Bet = $4,000

Scenario 2: The initial deposit adds to the bonus money before multiplying it by the wagering requirement. The total money to bet is $6,000.                     

Total Bet = (Bonus Money + Initial Deposit) x Wagering Requirement     = ($200 + $100) x 20Total Bet = $6,000
2. Complete the Know-Your-Customer (KYC) Policy

Know-Your-Customer (KYC) policy prevents money laundering violations. Players must verify their identity by submitting documents such as a government-issued ID. 

3. Choose your preferred payout option

Depending on your preferred payout method, cashing out may take several days to reflect in your wallet or bank account. The earliest would be within an hour, but mostly, it can go up to 2–5 days

thumbs up emoji

Helpful Article

Skrill provides multi-layered security and complies with the Payment Card Industry (PCI). If you want to withdraw your winnings with Skrill, learn how the payout method works with this digital wallet.

What Makes Deposit Match Bonuses Attractive to Players?

The word bonus attracts players, inciting excitement because the house gives you free money to win the game. In a broader perspective, a deposit match bonus offers you a higher advantage over the house.

The deposit match bonus gives you more chances to increase your winning odds without hurting your bankroll. Read more as we detail why operators’ deposit match bonuses seem hypnotizing to players.

Bankroll Expansion and Management

A gambling bankroll is the money the bettors allocate for bets. It is the total amount that you can bet and afford to lose. With the deposit match bonus, your bankroll increases. It gives you more chances of playing the game while not exhausting your funds.

thumbs up emoji

Helpful Article

Bankroll management is essential to track your funds and avoid overspending. Read the article to learn different strategies to manage your bankroll.

Risk Management

A larger bankroll is ideal for new players. You can explore many games and wage as many bets as you’d like with the deposit match bonus you receive.

The first deposit bonus increases your bankroll, giving you more playtime without risking your initial deposit. Risk management can also be in the form of a bankroll refund. The bankroll refund allows you to play and explore again, even after losing. 

Beating the House Edge

The match bonuses come in different forms: cash or free credits (spin or bet). With the increased bankroll and free opportunities, the player has increased their odds of winning. 

For that matter, the house edge is temporarily at a disadvantage. The casino or sportsbook wants you to play more and longer with the provided bonus money. 

bulb emoji

Quick Tip

Players should always consider the gameplay behind their preferred casino game when trying to beat a crypto gambling site’s house edge. Games like Crypto Dice are ideal for this since they offer easy Dice game mechanics, a fast pace, and rewarding payouts.

Types of Matched Deposit Bonuses

The terms and conditions behind deposit match bonuses vary depending on their type. Each variant’s rewards and how these promotions influence a bettor’s gambling experience differ. 

Operators develop different attractive offers to stand out and attract more players. Note that regardless of the type, the bonus value will still match the deposited amount. 

Leading Sportsbooks and Online Casinos in the US in 2023
celebration emoji

Fun Fact

The total revenue generated by the US sports betting market amounted to around $7.56 billion in 2022.

Listed below are the types of matched deposit bonuses you can choose from.

1. First Deposit Bonus

The first deposit bonus is the most common form of match bonus. Once the player makes the first deposit that meets the minimum requirement, the operators provide a 100% credit. 

2. Free Bet/Spin

Free bets or spins are the simplest bonus types. When you register a new account, you deposit money, and the operator gives you free bets or spins matching the first deposit amount.

You can use free spins for specific slot games, increasing your odds of winning slot machines. On the other hand, free bets are for sportsbooks, giving you an extra opportunity to wager and win the game.

3. Multiple Deposit Bonus

In most cases, operators provide a one-time deposit bonus. However, some operators offer multiple deposit bonuses, and bettors continue to receive bonuses after three to four successive deposits. 

celebration emoji

Fun Fact

Some sportsbooks accept the cryptocurrency option to cash out your winnings. Bovada is one of the first sportsbooks to accept Bitcoin as a payment option for withdrawals and deposits. 

4. Reload Bonus

Operators design a reload bonus for existing players to encourage them to keep playing. Some operators offer reload bonuses weekly, while others might offer deposit match bonuses as a reward. 

5. Risk-Free Bets

A risk-free bet is also called a second-chance bet. Players can bet without the risk of losing their money since operators will 100% refund the lost bet. 

Acquiring risk-free bets is a win-win scenario. Either you win the wager or receive a refund. Some sportsbooks may use a free bet or bonus cash to refund the lost bet, but some typically use site credit.

6. High Roller/VIP Bonus

High roller deposit matches target players who like high stakes. Players make more significant deposits and place higher bets; however, it is optional to be a high-spending player to access this offer. 

A high roller bonus typically goes from a 50% match to $1,000. The house can also offer a lower percentage for higher deposit amounts, making it more profitable for the players. 

hint emoji

Did You Know?

Kerry Packer is among the most infamous high rollers in the world, with gamblers deeming him as Las Vegas’ most extravagant player. In 1997, he demonstrated his mastery in Blackjack and won $20 million in 40 minutes at MGM Grand Casino.

Factors to Consider in Choosing the Best Deposit Match Bonus

Online casinos and sportsbooks feature a wide selection of bonuses. New and seasoned gamblers must consider several factors to know whether the site offers a good deposit match bonus. 

Choosing the best deposit bonuses is more challenging than it may seem. Operators will likely only tick off some factors, but everything will always have pros and cons.

celebration emoji

Fun Fact

In betting, gnoming” is the other term for multi-accounting, where one player creates new betting accounts with different identities and claims more match deposit bonuses.Multi-accounting in betting is fraudulent but technically legal. Most online gambling sites’ terms and conditions do not explicitly mention gnoming as forbidden. However, a site will ban an account once the system detects fraudulent acts.

Here are the factors to consider in determining if the deposit match bonus offered is a good deal: 

1. Deposit Match Rate

Determine how much bonus you want to receive relative to your deposit. The match deposit bonuses are mostly 100%. However, some operators can give you a lower match rate with fewer restrictions. 

2. Deposit Match Limit

Operators have a pre-defined bonus limit. Regardless of the deposited amount, when the bettors hit the threshold, the deposit match bonus given to the players will not be a 100% match. 

Example: Assuming the bet365 deposit match bonus is 100%, with a bonus cap of $500. If the player makes a first-time deposit of $700, the receivable bonus is a maximum of $500. 

3. Wagering and Playthrough Requirements

Every bonus comes with wagering requirements—the number of times you need to roll over the received bonus. Any winnings will remain as non-withdrawable earnings until you meet the conditions.

Note that the bigger the deposit match bonus, the higher the requirement multiplier. Also, the smaller the bonus, the less restrictive the requirements would be. 

4. Low Rollover Rates

Beginners in the gambling industry should start with lower rollover rates. It may be smaller, but it is less restrictive. A rollover requirement of up to 5x is reasonable and manageable for starting bettors. However, a requirement of 10x or more can be challenging to meet.

note emoji

Side Note

New and seasoned gamblers should always consider the online gambling site’s minimum rollover rates as it is one good way to know the quality of services the platform offers its players.Online gambling platforms such as BC.Game, Stake, and Cloudbet are examples of No-Limit casinos that offer ideal rollover requirements for their bettors.

5. Bonus Expiry Date

Always check the deposit bonus timeframe, as it always comes with an expiration date. Some operators offer a period of up to one month, but some give you only a week to exhaust your money bonus.

The online casino will automatically deduct any unused bonus from the account wallet. In addition, the expiration date relates to using the bonus while meeting the wagering requirements. 

Example: Given that you have deposited $700 and received a $700 deposit match bonus with a 20x wagering requirement. The bonus and the wagering multiplier mean you have to accumulate $14,000. Reaching $14,000 means that you have cleared the requirement. You can also withdraw the $14,000. If, by chance, you only wagered $7,000 within the timeframe, then you would lose all the bonus. Only the money you deposit remains in your account.

Final Thoughts

The house offers a generous match deposit bonus to attract attention, especially to the new players. These bonuses make the players think and feel they have more money to play with less risk. 

Despite the “free money” and enhanced odds, it has its cons, wherein conditions must occur to cash out the money. Some are lenient, but mostly, they are not. 

It is worth remembering that players should conduct thorough research. Gamblers must weigh several factors to maximize the player’s advantage and have the best first-time gambling experience. 

FAQ

Can I claim a deposit match bonus more than once?

It depends. Some offer a one-time-only deal, while others provide it periodically, especially to their loyal players.

Do match bonuses require a promo code?

It depends on the sportsbook. Mostly, the match bonus requires you to input a promotional code before the initial deposit.

Can I withdraw gambling wins from a free bet?

Yes. You can withdraw your gambling wins once you have met the conditions, such as the minimum payout and wagering requirement.