Betway Promo Code May 2023: Up to a $250 Bonus Bet

Betway promo code and sign-up offer details

With no Betway promo code necessary to activate this offer, it's an excellent time for new players to try out one of the best sportsbooks. We are constantly watching for the best sportsbook promos, and this Betway sign-up offer is easy to claim until it expires on Sept. 5, 2023.

So long as you make a first deposit of $10 or more and place your initial wager at odds of -300 or longer within seven days of registration, you will receive up to a $250 bonus bet should your wager lose. You'll have the next seven days to use it, or it will expire.

More information about the Betway promo code and welcome offer, including some key terms and conditions, can be found in the table below:

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Other Betway promotions 

Betway has a few other ongoing promotions, which are available for new and existing players. Below are quick descriptions of their current promos. Bookmark this page to be made aware of any new offers the sportsbook may churn out.

Betway Weekly Parlay Club

The Parlay Club allows existing Betway players to receive a $10 bonus bet when they bet $25 or more on a parlay with at least three teams and a minimum payout of +200. This Betway promo restarts every Monday at 12:01 a.m. local time. You can earn it once a week by placing an eligible parlay bet within the one-week timeframe.

Betway NHL Playoffs Overtime Insurance

During the 2023 NHL playoffs, players who bet $20 or more on an NHL moneyline will receive a $20 bonus bet if the team they bet on loses in overtime. If you place multiple wagers on the same game, Betway will only give one $20 bonus bet. This offer expires when the 2023 NHL playoffs are over.

Popular Betway Sportsbook bet types

Betway provides a wide range of betting options for your first bet across various markets. Below are some of the most popular choices:

Spread

This type of bet involves predicting a team's winning or losing margin. Betting on the favorite requires winning by more than the given number, whereas betting on the underdog requires them to lose by less than the spread or win outright. 

Moneyline

This is a straightforward bet where you choose which team will win the game. The odds on each side are different based on the expectation of which team will win.

Over/Under (totals)

With this type of bet, you predict the total combined points two teams will score in a game. If you bet on the Over, you expect the total points, runs, or goals to exceed the given number. If you bet on the Under, you expect the opposite.

Props

Prop bets are unique wagers since they are not tied to the game's outcome. Instead, they relate to a player's performance or a specific game outcome. For example, you might bet that a pitcher gets more than 5.5 strikeouts, and if he does, you win the bet regardless of which team won the game.

Parlays

Parlays are becoming increasingly popular, and they involve combining two or more selections (known as legs) into one larger bet. Parlays carry more risk since all legs must win for the bet to be successful. 

How to claim the Betway promo code

For sports fans that are new to sports betting, the process of securing a Betway welcome bonus can be an intimidating one. Fortunately, the process is relatively easy when you know what to do, and we have mapped out that process in detail here.

To claim your $250 sign-up offer sans a Betway bonus code, all you need to do is follow these steps:

1. Register a new account

Signing up for an account with Betway is the first step you will take in claiming your Betway welcome bonus. You can click here to get to the registration page.

After selecting your state and clicking “Sign Up,” you will be prompted to enter your email address and choose a password for your account. 

Betway will guide you through the rest of the process, asking for personal information, including your name, address, phone number, date of birth, and verification documents. Betway is a legal and regulated sportsbook in the United States with security measures in place to protect this information. You must be over the legal age of 21 to create an account.

Once you have filled out the form and completed the registration process, you will be able to make your first deposit at the Betway Sportsbook and secure your Betway promo.

2. Make a deposit

Deposit at least $10 using the payment method of your choice. Remember that with this Betway offer, you will receive a bonus bet credit matching the amount of your first bet up to $250 if that bet loses. If you intend to get the maximum potential value on this promotion, you will want to deposit at least $250.

Betway offers the following deposit methods:

• Visa/MasterCard
• PayPal
• PayNearMe
• VIP Preferred e-check
• Play+
• Sightline

3. Place your first bet

With your account funded, you are officially ready to place your first bet. This initial wager will be eligible for bonus bet credits of up to $250, but only if it loses. The bet must be placed and settled within seven days of opening the account, not be a part of Betway's Boost or Super Boost enhanced odds, and carry odds of -300 or longer. Check out this article for more help understanding how to read odds.

Make sure to wager however much you are comfortable with to maximize the return you get on this play. You can either win a large bet to bolster your sports betting account early or get another shot at it with bonus bet credits matching the lost amount.

4. Receive your bonus bet

If your first bet loses, you will receive one bonus bet credit equal to the lost wager. You must use this credit within seven days, or it will expire. You can pick from most of Betway's betting markets to use your bonus bet credit. 

5. Withdraw funds

If you are awarded a bonus bet with your Betway promo after losing your first bet, you cannot withdraw these credits as cash, and you must place another bet with them to take advantage. 

If that bet wins, Betway will credit your account with your funds immediately, minus the value of the bonus bet credit. Those funds can be withdrawn as real cash right away.

How to deposit at Betway Sportsbook

Before you can start betting on sports on your Betway Sportsbook account, you must fund your account with a first deposit. We’ll walk you through that process step-by-step in this section.

1. Log in to your Betway account

First, you’ll need to log in to your account. If you don’t already have one, you’ll be prompted to create one on the Betway Sportsbook website or mobile app.

Once you are signed in, click the “My Account” button. It will show you all of your account's funds, bonus bet credits, and the "Deposit" button.

2. Click “Deposit”

Click on the “Deposit” button to continue. Doing so will bring you to the banking screen, where you can choose the deposit method you want to use.

3. Choose a banking option

All of the deposit methods that are available in your state will be listed on this screen. When you click on one, you will be asked for additional information, such as your PayPal sign-in information or your credit card details.

4. Indicate how much you wish to deposit

Once you have entered this information, choose the amount you want to deposit. Remember, this bonus — no Betway promo code required — offers up to a $250 bonus bet but only requires a minimum wager of $10.

The funds should hit your Betway Sportsbook account immediately after processing the payment.

How to withdraw funds from Betway

Requesting a withdrawal on Betway is a quick and easy process, rivaling that of the best online sportsbook for payouts. The minimum amount you can withdraw is $10. All you have to do to make a withdrawal is access the Cashier page on the Betway website or app and then select the banking method you want to use and the amount you want to withdraw.

Withdrawal methods

Withdrawal methods can vary slightly from state to state, but Betway generally offers free payouts with each of the following methods:

• Visa/MasterCard
• PayPal
• PayNearMe
• eCheck
• Play+

Depending on the withdrawal method selected, you will receive payouts within 1-5 business days.

Betway Sportsbook details

If you're choosing a betting site for the first time, Betway Sportsbook is a great choice. It has an excellent reputation and is frequently lauded for its user-friendly app and reliable customer support.

Betway has many great features, including live betting, same-game parlays, early cash out, ongoing promotions, and live streaming of certain sporting events. The mobile app is one of the best betting apps that we've come across, with a user-friendly interface and full functionality. 

Betway Sportsbook has a great welcome bonus for new customers, which you can obtain without a Betway promo code. We think you'll continue to enjoy using Betway long after you take advantage of their welcome offer. You'll find competitive odds, secure financial transactions, and a wide array of betting options.

Check out our in-depth Betway review for a more detailed breakdown of everything this sportsbook has to offer.

Betway customer support

Betway has some excellent resources in its support section that walks players through many frequently asked questions, including responsible gaming options, account details, how to bet on sports, deposits, withdrawals, and security.

If Betway doesn't address your concern in their FAQ section, you can get in touch with the support team in several ways.

• Live chat: Available 24/7 on the Betway website and app
• Email: support@betway.com
• Twitter: @BetwaySupport
• "Submit a Ticket” form online
• Support language(s): English

Where is Betway Sportsbook legal?

There are currently eight states that Betway is legal in: Arizona, Colorado, Indiana, Iowa, New Jersey, Ohio, Pennsylvania, and Virginia. Betway plans to expand into Kansas, Missouri, Maine, and Mississippi in the future. The sportsbook also launched in Canada in August of 2022.

Additional sportsbook promo codes

While a Betway promo code isn't needed to redeem the online sportsbook's bonus, the same isn't always true for other legal sports betting sites. We've looked into DraftKings, FanDuel, BetMGM, and more to give you all the information you require on each site's sports betting platform and promo code offerings: