Skip to main content

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

Sports bettors looking for a Betway promo code in Arizona, Colorado, Indiana, Iowa, New Jersey, Ohio, Pennsylvania, and Virginia can take advantage of up to a $250 bonus bet sign-up offer. Click here to register with Betway Sportsbook.


Up to a $250 bonus bet

There is no actual Betway bonus code required to secure this offer. You only need to register a new account at Betway Sportsbook and follow the instructions on this page to claim your welcome bonus of a $250 bonus bet.

Editor’s note: The offer(s) outlined here are for eligible U.S. customers only.

Affiliate Disclosure: Sportsbook Review may receive advertising commissions for visits to a sportsbook betting site.

21+. Gambling can be addictive, please play responsibly

Top Betway offers

Up to a $250 Bonus Bet

New bettors can register with Betway to claim up to a $250 bonus bet. Simply opt into the promo, make an initial deposit of at least $10, and place your first real-money wager with attached odds of -300 or greater within seven days of sign-up. Should your qualifying bet lose, the sportsbook will issue you a refund, up to $250, as a single non-withdrawable bonus bet.

The bonus bet will arrive in your account within 24 hours of your wager settling as a loss, and you will have seven days to use it.

Terms and conditions apply.

Claim $250

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:

🚨 Betway promo codeNo code - Click to claim
😊 Betway bonusUp to a $250 bonus bet
➡️ Betway promo typeFirst bet reset
💰 Minimum deposit$10
💵 Minimum wager$10
🇺🇸 Legal states8
🏦 Wagering requirements1x at min. odds -300 or longer
🏟️ Eligible bet typesAll types
📱 Betway mobile appiOS & Android
👓 Last verifiedMay 2023
Offer expirySept. 5, 2023

Gambling problem? Call 1-800-GAMBLER

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.

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


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. 


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.


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 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.

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.

ArizonaMarch 2022
ColoradoJune 2021
IndianaJune 2021
IowaOctober 2021
New JerseyAugust 2021
OhioJanuary 2023
PennsylvaniaJune 2021
VirginiaMay 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:

Banking Options at Betway

Accepted Currencies

  • USD

Methods of Deposit

visa logo
Min: N/A Max: N/A Fee: Free
mastercard logo
Min: N/A Max: N/A Fee: Free
paypal logo
Min: N/A Max: N/A Fee: Free
paynearme logo
Min: N/A Max: N/A Fee: Free
echeque logo
Min: N/A Max: N/A Fee: Free
play-plus logo
Min: N/A Max: N/A Fee: Free

With a single click, you’re taken to a lengthy list of deposit options. PayPal, Visa, and MasterCard are the most popular deposit types on the site, but there are a host of others, including PayNearMe, eCheck and Play+.

Players must deposit a minimum of $10, with a maximum of $1,000.

Methods of Withdrawal

visa logo
Fee: Free
mastercard logo
Fee: Free
paypal logo
Fee: Free
paynearme logo
Fee: Free
echeque logo
Fee: Free
play-plus logo
Fee: Free

The withdrawal process is nearly as simple, with most methods taking between 1-5 days to process. Players can withdraw as little as $10. There is no maximum withdrawal amount, though larger requests might take longer to go through.

Sportsbooks by Reviews

Want more betting options? Check out the following reviews of best sportsbooks and betting sites:

Sportsbooks by Promos and Bonuses

Want to get in on the action? Check out our best sportsbook promos:

Betway promo code FAQs

Can I trust Betway when it comes to promos?

Yes. Betway operates legally in all eight states listed on this page and is licensed and regulated in each state. Betway is a reputable sportsbook that will honor the promotions it offers.

Do I need to deposit to get my Betway promo?

Yes. A minimum deposit of $10 is required to use this Betway welcome bonus code offer. The amount awarded if your first bet loses matches the amount you wager, so you will need to deposit at least $250 and wager $250 on your first bet, with odds of -300 or longer, if you want to maximize the value of this promotion.

What if I lose my initial bet at Betway?

If you lose your first bet with Betway after activating this $250 bet reset promo, you will be reimbursed with a bonus bet in the same amount as your first wager, up to $250.

You can use this bonus bet on any event as long as it's within seven days of receiving it. You will not receive the bonus bet credit if you win your initial bet.

If I win with the bonus bet, can I withdraw the winnings from Betway immediately?

Yes. There is no rollover requirement to withdraw funds after you have placed your bonus bet. If your bonus bet wins, your account will be credited with the winnings from that bet, not including the bonus bet amount itself.

In what states can I legally bet at Betway Sportsbook?

Betway Sportsbook operates legally in eight states in the USA: Arizona, Colorado, Indiana, Iowa, New Jersey, Ohio, Pennsylvania, and Virginia. The sportsbook is legal and licensed in all eight of these states.

I’m already registered at Betway, can I still use the promo code?

No, the $250 first bet reset Betway bonus code offer is only available to new customers. With that said, Betway does have other promotions available to current customers, including its weekly Parlay Club and NHL Playoffs Overtime Insurance.