But if the bet loses, you get credited in bonus bets - so you need to bet and win using those bonus bets to get the actual cash back in your account. But to realize the full $1,000, you need to deposit $1,000.

First bet on the house or 'no sweat' first bet: FanDuel sometimes offers a 'no sweat' bet up to $1,000.

These bets are the most common promo - anything like 'bet $5, win $200' is $200 in bonus bets.

Bonus bets: You can bet with this money, and if you win, it turns into real cash, but you don't keep the bonus bet itself.

Most books don't give away this kind of bonus money anymore, unless you're signing up for their online casinos. This comes in smaller increments like $10 or $25, so if you do take it and run, the book isn't losing much.

Actual money: It's cash in your account you can bet or withdraw.

I'll explain why in a bit.įirst, let's get into the differences of each promotion type because the terms all sound so similar.

There are a few different ways, but bonus bets should always be used on underdogs or anything plus-money. So how can you use them to build your bankroll? Sportsbooks hand out hundreds of dollars in bonus money to capture your attention and wallets, especially if you've never signed up there before.

Is it smart to hedge sports bets