I've read enough commission filings to know that sportsbook promo copy is written by marketers, not regulators. The headline number is always the biggest possible payout. The restrictions are buried. Before you claim anything from our Super Bowl Betting Promos: Bonus Bets, Deposit Matches & More roundup, here's what you actually need to understand about how bonus bets work — and where bettors routinely get burned.
Do bonus bets expire?
Yes, and faster than you'd think. Bonus bets typically expire in 7 days. Bets not placed within that window are forfeited with no cash value. So if you sign up on Monday and forget to use the credits by the following Monday, they're gone. No extension, no appeal. I've seen people lose hundreds in bonus bets just by waiting until they felt "ready." Set a calendar reminder the moment the credits land.
If my bonus bet wins, do I get the full payout?
No — and this is the one that surprises people most. Winnings from bonus bets exclude the bonus stake from cash returns. A $100 bonus bet winning at +100 returns $100 in profit, not $200. The stake itself disappears win or lose. It's not equivalent to $100 cash. Think of it as buying a lottery ticket someone else paid for — you keep the prize, not the ticket price. The BetMGM Super Bowl Promo: What the Bonus Bet Fine Print Really Means page breaks down exactly how this plays out on a specific offer.
What are minimum odds restrictions and why do they matter for the Super Bowl?
Minimum odds restrictions — commonly set at –500 or longer — prevent you from using welcome bonuses on heavy favorites. That's a real problem around the Super Bowl. When one team is a massive favorite, the obvious bet may be priced at –600 or worse, making it ineligible for your bonus. You'd have to take a side you're less confident about just to use the credit. Check the odds floor before you assume your preferred bet qualifies. The Caesars Sportsbook Super Bowl Promo: Bonus Bet Fine Print Explained page walks through how that restriction applies to one of the most popular welcome offers out there.
Do I get the bonus even if my qualifying bet loses?
Not always. Some offers are conditional — pay only if you win. FanDuel has run a version where you deposit and wager $5, and receive $200 in bonus bets only if that first wager wins within 72 hours of settlement. If it loses, you get nothing. That's very different from first-bet insurance, which pays out even on a losing first bet. Read the offer type carefully. The FanDuel Super Bowl Promo: Bet $5, Get $350 in Bonus Bets page explains which version is currently live and what the exact conditions are.
Can I open a second account to claim a bonus twice?
Absolutely not. Welcome offers are strictly for new customers only, one per person. Attempting to open a duplicate account to claim a second bonus violates operator terms and can result in account closure and forfeiture of funds — meaning you lose everything in the account, not just the bonus. Operators use identity verification, device fingerprinting, and payment method checks to catch this. It's not worth attempting.
A few other fine-print items worth knowing
- Bonus availability varies by state. Promos legal in New Jersey may not be offered in Louisiana or Tennessee. Always confirm your state is listed before depositing.
- Some bonus bets are delivered in multiple installments over several days — Fanatics runs a $50/day for 4 days structure — so your full bonus isn't available immediately.
- Cashed-out wagers and bets placed with existing bonus funds typically don't qualify as the triggering bet for a new offer.
- Retail sportsbooks generally run fewer promos than their online counterparts, so if you're planning to bet in person, expect smaller or no welcome offers.
Bonus bets have real value when you understand the mechanics. They have almost no value when you misread the terms and lose credits to expiration or place a bet that was never eligible. Take five minutes to verify the odds floor, the expiration window, and whether the offer is win-only or unconditional before you fund any account. 21+ only, and available in legal states only. Gambling problem? Call 1-800-GAMBLER.