One of the ways that sportsbooks lure in new business is to get existing clients to refer a friend. Then they refer one friend and on and on it goes. At least in theory.
While this sounds like a good tactic to spread the word about a sportsbook and bring in new clients, these bonus offerings could be improved.
To be fair, sportsbooks are not required to offer bonuses, but it is a way to attract new business. If one sportsbook decides to offer referral bonuses that are clearly better than the competition, that would seem to give them an edge in the marketplace when trying to land new clients.
How much is that new client worth? Probably a lot more than the referral bonuses being offered.
Here are my rankings of the top US sportsbooks when it comes to referral bonus offerings.
4. BetMGM Sportsbook
There are a bunch of sportsbooks that do not offer referral bonuses or, if they do, the referral bonuses are not easy to find. In the case of BetMGM, the referral bonus is easy enough to find, but the process is complicated. A referral bonus of $50 is paid once the newly invited account has wagered $100 and the bonus must be used within 30 days. Then the referral bonus is credited in the form of a casino bonus, which can not be used to wager on sports. This does not appear to be looking out for the interests of the sports bettor. While some sportsbooks have limits on new referrals, BetMGM has a limit of 20, per month.
Read our BetMGM Sportsbook review.
Check out BetMGM Sportsbook bonuses (U.S. players only).
3. DraftKings Sportsbook
While they advertise a $100 referral bonus, that is really “up to $100” because the bonus payouts are different for referrals that deposit under $50 or under $100. Aside from needing to read the fine print on the bonus offering, DraftKings has similar criteria to FanDuel, with payouts coming within three days to be used within seven days.
Read our DraftKings Sportsbook review.
Check out DraftKings Sportsbook bonuses (U.S. players only)
2. Caesars Sportsbook
Although Caesars is working on a longer timeline, that is probably more appealing when it comes to using the bonus. The Caesars referral bonus does appear to be relatively clear. A bonus of $100 is paid out within seven days and must be used within 30 days. Caesars has a limit of 10 referrals per account.
Read our Caesars Sportsbook review.
Check out Caesars Sportsbook bonuses (U.S. players only)
1. FanDuel Sportsbook
It is not as though FanDuel has some incredible offering when it comes to referral bonuses, but it appears to be relatively straight forward. A $75 bonus is paid out within three days of qualifying and needs to be used within seven days. There is a limit of five referrals per account.
Read our FanDuel Sportsbook review.
Check out FanDuel Sportsbook bonuses (U.S. players only)
|Sportsbook||Bonus||Time to Payout||Bonus Must Be Used||No. of Referrals|
|FanDuel||$75||3 days||7 days||5|
|Caesars||$100||7 days||30 days||10|
|DraftKings||up to $100||3 days||7 days||N/A|
|BetMGM||$50||once invitee bets $100||30 days||20, per month|