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Best Deposit Match Bonuses for 2024: Get More From Your Next Deposit

Dave Kuzio
Editor
Fact checked by: Jim Knight
Last Updated on 17.05.2024

When you bet on your favourite sports, you may be looking for something extra to boost your betting experience. Consider the matched deposit bonus. As implied, these offers give you bonus funds that match your initial deposit.

This article gives you a basis for finding generous sportsbook offers. We go into detail on three top betting offers, current trends, tips to help you make the most of offers and claim them, and even common pitfalls. So read on to gain greater insight into matched deposits and how they can boost your betting experience.

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Redeem the Best Betting Bonuses for May 2024

Three Top Bookies For Deposit Match Bonus Offers

We took three major sports betting operators from our list of online betting sites and put them through a comprehensive user test with the aim of finding the best matched deposit bonuses available. Here are the results:

Ladbrokes – Top Deposit Bonuses for New Players

Ladbrokes Mobile Betting
Ladbrokes mobile betting
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Ladbrokes sports selection
  • Handy low deposit welcome offer
  • Use match bonus on wide range of sports
  • Reasonable timeframe to use free bets
  • Welcome bonus excludes some payment methods
  • Smaller bonuses than in the past

Ladbrokes welcome bonus has a low £5 deposit requirement to get £20 in free bets (4 separate £5 free bets – this means a matched bonus that is 400% the value of your deposit!). Their bonus is available for betting on over 25 sports, and seven days is plenty of time to use each free bet. However, be mindful that you can only get up to £20; making a bigger initial deposit will not result in a higher match bonus. Also, some deposit methods do not qualify for the bonus, such as prepaid cards, Moneybookers, InstantBank, Paypal, Paysafe, Neteller, and Skrill. Still, it’s a perfect deal for those looking to bet safer and smaller and get some bang for their initial bucks.

In recent years, Ladbrokes has offered fewer ongoing matched deposit offers for existing customers. But this is a betting industry-wide trend, not Ladbrokes-specific. Besides the welcome offer, we only saw a 2-up soccer promotion and a few horse racing concessions, like best odds guaranteed and extra places. So finding a match deposit bonus here is mostly for fresh customers.

BetMGM – Highest Matched Offer on Losing Bet

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BetMGM live sports mobile
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BetMGM sports selection
  • Generous new user bonus
  • Excellent odds for bonus betting
  • Deposit bonus or promo code not required
  • Plentiful sports reload offers
  • Desktop bonus betting with only 12 sports
  • MGM Rewards is complicated

BetMGM offers a generous sports welcome bonus: a refund if your first bet loses up to $1500. This is ideal if you are naturally a high roller and ready to place a bigger bet with a sort of matched deposit insurance behind it, but don’t forget it’s entirely dependent on your bet outcome. Should you win your bet, don’t expect a bonus, but luckily there are other regular promotions in the “My Offers” section of your account.

When you place bonus bets, you don’t need to remember to enter a bonus or promo code. Plus, the odds are top-notch. We compared BetMGM odds to similar sportsbooks like Betvictor and Bet365, and they at least match these firms on most major US sports and soccer.

Bonuses and odds aside, there are a couple downfalls to BetMGM. For instance, the 12 sports on the desktop site are limited, but there is enough depth of markets to wager on. In addition, the MGM Rewards program lets punters earn points towards prizes, but the terms could be simplified for beginner users.

NEO.bet – Top Notch Multi-Deposit Sports Bonus

Neobet mobile sport
NEO.bet mobile sports betting
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NEO.bet sports bonuses
  • Generous $400 overall sign-up bonus
  • Favorable minimum odds of 1.50 for bonus bets
  • 5x bonus wagering requirement
  • Clear and fair bonus terms
  • Limited payment options with the bonus

NEO.bet offers a $400 sports bonus package, split into 3 stages: step 1 is a $100 deposit match up to $200, followed by 2 more chances to claim the $100 bonus. You can deposit a minimum of $10 to claim each bonus. Each step comes with a wagering requirement of 5 times the deposit and bonus amount. All wagers must be met within 100 days.

This bonus looks favourable with a fairly low total turnover, and the 1.50 minimum odds is less than a typical stake-returned sports bonus. We found the bonus terms fair to the user. For example, only the first bet on a specific event counts towards the turnover.

Besides those plus points, our only minor quibble is the limited selection of transaction methods when depositing to get your bonus. You can only use Visa, Interac E-Transfer, Interac Online, MuchBetter, and Paysafecard.

Understanding Matched Deposit Bonuses

Matched deposit bonuses are among the best free bet offers. The idea is simple. A bookmaker matches your deposit with a specified amount of bonus funds. A 50% deposit of $50 means that if you deposit $50, the bookmaker will give you a $25 bonus. Whereas a 100% bonus matches the whole $50 deposit.

Matched deposits usually have a set deposit limit, so please read the terms and conditions carefully before depositing and playing. In addition, it’s good to understand that matched deposit bonuses may come in slightly different forms. For instance, in the case of Ladbrokes, we saw a 4x match deposit bonus on a £5 minimum deposit, but with BetMGM, the matched deposit bonus only comes through on a losing bet. That is why it’s always a good idea to read the terms and conditions in full since not all free bets and matched bonuses are equal.

Important Features of a Deposit Match Bonus

When you seek the best betting bonuses, including deposit match bonuses, keep certain key factors in mind, such as:

Betting Markets & Odds

Any quality sportsbook worthy of your attention will offer a full range of major and niche sports, esports, virtual sports, and specials markets for politics and entertainment as a given, but only the best ones will ensure that your deposit match bonuses are compatible with such market variety. Simply put, a betting bonus wouldn’t be useful if the sportsbook granting it severely limits where your free bets go. Make sure that the match deposit bonus you are claiming fits your true betting interests as well as is applicable to selections with competitive odds.

Wagering Requirement

The majority of sportsbook bonuses have a wagering requirement. But these can vary from a one-time turnover up to several multiples. To weigh up the relative merits of a sports-matched bonus, consider the wagering requirement alongside the minimum odds and timeframe allowed to complete the bonus.

Expiry Date

From the moment a bonus is credited to your account, a bookmaker might impose a time limit within which the bonus must be used. 7 days tends to be the minimum timeframe, and less than 1 week is not reasonable, especially if multiple-time wagering is attached.

Terms and Conditions

When you check a bonus for the eligible odds, excluded betting markets, and similar terms, a crystal clear set of bonus terms should be available. Seek out sportsbooks that leave no room for ambiguity and help you understand how to bet using the bonus.

Eligible Payments

A wide range of transaction methods can make all the difference in a matched deposit. While some operators might restrict you to a few select deposit and withdrawal types, the best sportsbooks cater to a broad spectrum of payment options.

Winning Limit

It’s uncommon for a sports match bonus to restrict the maximum winnings derived from the bonus. But it’s worth double-checking the T&Cs to see if it’s advisable to adjust your staking strategy accordingly. This would prevent a scenario where any winnings over the limit could be forfeited.

Different Types of Deposit Match Offers

For new and existing players, there are many popular types of deposit match bonuses. The technical lingo might vary depending on the sportsbook, but more or less they revolve around these main types:

Deposit Match Bonus TypeExplanation
Bonus FundsMatched credit as bonus funds, which usually has wagering requirements attached before you can withdraw your winnings
Free BetOne-time free bet(s) that usually matches the total value of your initial deposit and doesn’t involve wagering requirements. Keep any winnings without the stake being returned
Risk-free betIf the first bet loses, get a matched refund as a bonus

When Can You Get Deposit Match Bonuses?

If you are a frequent bettor, you’ll likely see deposit match bonuses offered to you at various points, which we explain below:

Initial Welcome Bonus

First, you have a new customer bonus. This is often a one-time chance to grab a matched deposit bonus as a new customer. Most first-matched deposit offers come as bonus funds with wagering requirements, which describe how many times you need to bet with the bonus funds before they can be withdrawn as cash. For instance, on a $100 matched bonus with five wagering requirements, the total rollover is $500 before you are allowed to withdraw any bonus funds.

On the other hand, some match deposit bonuses are credited as free bets, which may not ask for you to meet any rollover. However, there is usually an expiration date by which to use them, which also applies to typical bonus funds. Keep an eye on the opportunities around major events such as any European Championship fixtures. Bookmakers know that these cornerstone tournaments are a prime time for marketing to new players.

Future Reload Deposit Offers

Next, once you are an established customer, the bookmaker might reach out via email, SMS, or push notification with some sort of “reload” offer. Hereby, if you make a fresh deposit, they promise to match it with an accompanying bonus. Typical offers are from 50% up to 100% deposit match bonus funds, but you may also see various free bets, including ‘risk-free’ bets, which may involve winning another chance to place an equal value bet if your original bet loses.

The global betting landscape is ever-changing. This includes the best sign-up bonuses where bookmakers innovate to offer unique matched deposit bonuses. Let’s discuss a few such possibilities.

Bet Builder Bets Deposit Match

The last decade has seen a shift in sports bonus betting towards “DIY” style bets. So bookmakers are likely to offer more deposit match bonuses geared towards Bet Builder bets, which allows you to combine a series of selections in a match for the perfect bet. Doing so gives new players plenty of choice right when they walk in.

In-play Betting Match Bonuses

Besides bespoke bets, bookmakers focus on a huge range of live betting action, which is becoming more and more prominent. So expect to see an increase in offers where the operator will match your deposit with an in-play betting bonus.

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Tips to Maximize Bookmaker Deposit Offers

Here are a few hints for how to make the most of a deposit bonus:

Research Sports

Think about which sports you want to wager on. If your bonus can be openly used on any sport or market and you have specialist knowledge in a particular sport or market, start there to reduce your risks. Alternatively, you could use your bonus as a means to explore areas you normally wouldn’t in a safer way.

Minimum Odds

Work out the minimum odds needed and only pick selections that meet or exceed those odds. Unibet, for instance, states odds of 1.40 or higher to qualify for their sports bonus wagering.

Time Limits

Does the bonus have an expiration date? If so, look at sports with a cluster of upcoming fixtures like American sports or soccer markets to enable you to  bet before any potential bonus expiry date.

Minimum Deposits

Do you have a large enough bankroll to make the most of a particular deposit bonus? If not, tackle smaller bonuses first and work up to bigger value offers, and avoid deposits that are beyond your normal budget.

Market Restrictions

Does the bookmaker disregard specific markets for counting bonus wagering? Ladbrokes specifies, for instance, that free bets must be wagered in full on one of 22 selected sports (including major sports and lesser-known events like volleyball and Gaelic football).

Payment Restrictions

Read the terms to find out if certain transaction methods are not compatible with the bonus, such as PayPal, e-wallets, or cryptocurrency.

Maximum Winning Limit

If an upper winning limit applies with your bonus funds, adjust the odds in your selections to reflect this.

How to Claim Online Matched Deposit Bonuses

When you decide to play with a matched deposit offer, it’s important to be organized and have a clear plan. Follow these steps to get a typical deposit bonus:

  1. Compare bookmakers to find your ideal betting operator.
  2. Look at their bonus terms and conditions.
  3. Then, sign up as a new client. Input a bonus code, if applicable.
  4. Make your first deposit and claim the bonus. (Remember that some matched bonuses may only appear if you lose your first bet.)
  5. Begin betting on your favourite sporting action.

Common Mistakes to Avoid with a Deposit Match Promotions

It’s easy to slip up when confronted with lots of information. But try to avoid these common pitfalls with your deposit match bonus.

  • Not reading the bonus terms and conditions.
  • Letting a bonus expire before you complete wagering. (Avoid futures!)
  • Not opting to use your bonus on markets with more competitive odds. Sports such as greyhound racing have poor value for the player, whereas soccer may see tighter value on offer.
  • Having unrealistic expectations. There is a possibility of taking home your bonuses as winnings, but this is not guaranteed. Keep playing for fun!
  • If you use a sports bonus on an accumulator with multiple selections, one losing leg can scupper your whole bet. When playing a deposit bonus, bet sensibly on singles or simple ACCAs that contain fewer selections.
  • Poor bankroll management. Split your betting bonus into smaller stakes on several different bets, rather than betting it all on one or two bets.

Benefits and Disadvantages of Sportsbook Deposit Bonuses

A matched deposit bonus may seem excellent at first, but let’s step back to see the bigger picture:

  • Gain extra bonus funds for your bankroll
  • Use a matched bonus to experiment with bets
  • Claim different types of bonuses
  • Welcome bonuses + existing player offers once signed up
  • Various operators offer matched deposit bonuses
  • Potentially large wagering requirements
  • Possible complex bonus terms
  • Sometimes strict use deadlines

As you can see, matched deposit bonuses have both their advantages and disadvantages, which is something you will need to weigh for yourself before claiming any in particular.

Recap of Deposit Match Bonuses

Obtaining a sports bonus to go with your deposit is a boon. Those extra bonus funds give you more betting funds to play with and try to score some winnings, and if you are going to bet anyway, why not claim some free betting money along the way?

We have reviewed three prominent sportsbooks that offer a matched deposit bonus: Ladbrokes offer £20 free bets for betting £5 on sports; BetMGM has a matched sports refund bonus amount up to $1,500 for new users; and NEO.bet features a triple deposit matched welcome bonus up to $400. With a range of selections like this from some of the best matched deposit bonus bookmakers, any type of punter has a friendly welcome package available to them.

Great sports bonuses right now

Deposit Match Bonuses: Commonly Asked Questions

🔦 What is a matched deposit bonus?

A deposit match bonus is a sportsbook promotion where the company matches a percentage of your deposit amount with bonus funds or free bets.

💥 What is a 100% matched deposit?

This effectively means the sportsbook will give you a bonus equal to the full amount of your deposit. In its simplest form, for example, if you were to make a deposit of $100, the sportsbook would offer you $100 in bonus funds or free bets, bringing your bankroll to $200 total.

💳 What is a wagering requirement?

A wagering requirement shows how many times you must bet with bonus funds before withdrawals are permitted. A 3x wagering requirement means the bonus needs to be turned over three times on eligible bets, for example. Not all matched deposit bonuses have wagering requirements.

🔎 How do you find matched deposit online betting offers?

The best deposit match bonuses can be found right here on our site, along with many other types of betting bonuses. If you don’t know where to start, we suggest checking out our top three choices.

😀 Do all betting sites have matched deposit bonuses?

The majority of sports bookmakers have some form of deposit match bonus in order to stand out among fierce competition. However, the type of bonus offered differs widely, so it is always best to read the terms and conditions.