Sportsbook bonus terms explained

A sportsbook welcome bonus has a headline number and a set of terms. The headline sells it. The terms decide what you keep. Five of them do almost all the work: rollover, what the rollover applies to, minimum odds, parlay requirements and expiry. This guide explains each, compares how books serving players outside Ontario and Alberta set them, and turns them into an expected cost in dollars so you can compare offers on one scale.

The five terms that matter

Two more show up often: a maximum bet while the bonus is active and a maximum win from bonus funds. And watch for "bonus funds" that pay winnings as bonus bets rather than cash.

How books set them

Welcome terms from the operators' published pages, as held in our records. Current amounts render on each review.

Free-bet style welcomes such as bet365's bet-and-get or BET99's first bet back work differently: there is little or no rollover, but the bonus bets do not return their stake. Value those with the free bets guide.

Turning rollover into dollars

Every bet you place to clear rollover carries the book's margin. So the average cost of a rollover is roughly:

• Expected cost = required turnover x margin on the bets you use

The margin is about 4.55% on a -110 two-way line, more on props and three-way markets, and much more on parlays. Our bookmaker margin guide shows how to measure it.

Check on the first bar: 5 x 100 = C$500 of two-leg parlays; two -110 legs return 0.9545 x 0.9545 = 91.12%, an edge of 8.88%; 500 x 0.0888 = C$44.40.

These are averages. Any single attempt can finish far above or below. But the comparison holds: base and bet-type rules matter more than the headline percentage. Run your own numbers with the wagering calculator.

Minimum odds, decoded

Minimum odds are quoted in decimal. Converted:

A higher minimum does not change the margin much, but it raises the chance each bet loses, which raises the chance you run out of balance before finishing. On parlays, check whether the minimum applies per leg or to the total ticket. Convert any price with the odds converter.

Other clauses to read

• What counts. Void bets, pushed bets, cashed-out bets and bets on both sides of a market usually do not count toward rollover.
• Cash out. Using cash out on a qualifying bet often removes it from the rollover count. See live betting and cash out.
• Max bet. Some books cap stakes while a bonus is active; one book in our records flags a possible C$5 cap.
• Withdrawal before finishing. Usually cancels the bonus. If you want your deposit back, decide before you opt in.
• Bonus bets vs cash. If winnings from bonus bets arrive as more bonus bets, count them at their real value, not face value.
• Country and province limits. Offers listed for Canada exclude Ontario and Alberta at most offshore books; provincial operators such as PlayNow run their own, separate promotions.

A quick ranking method

1. Work out the turnover: rollover x base.
2. Multiply by the margin on the bets the terms force (singles about 4.5%, two-leg parlays about 9%, three-leg about 13%).
3. Subtract from the bonus. That is the average value.
4. Check the days and minimum odds against how you actually bet.

A smaller bonus with light terms often beats a bigger one with heavy terms. Current offers are on the sports welcome bonuses page and reload bonuses page.

Keep promos in proportion

A bonus is a discount on betting you were going to do anyway, not a reason to bet more. The Lower-Risk Gambling Guidelines suggest no more than 1% of household income a month. Our bankroll management guide sets stakes from your budget, and responsible gambling lists the helpline for your province. For the casino side of the same idea, see the casino wagering requirements guide.