Sports betting in Ohio is finally becoming a reality! After years of anticipation, sports fans in Ohio will finally be able to place legal bets on their favorite teams starting January 1, 2023. And what’s even better is that there will be plenty of Welcome Bonuses available to new bettors! Here’s everything you need to know about the Welcome Bonuses being offered by sportsbooks in Ohio.
What is a Welcome Bonus?
A Welcome Bonus is a type of promotional offer that sportsbooks use to entice new customers to sign up for an account and make a deposit. Welcome Bonuses typically take the form of a match bonus, meaning that the sportsbook will match a certain percentage of your deposit up to a maximum amount. For example, if a sportsbook is offering a 100% match bonus up to $500, that means that they will match your deposit dollar-for-dollar up to $500. So if you deposit $250, you’ll receive an additional $250 in bonus funds; if you deposit $500, you’ll receive the maximum $500 bonus.
Welcome Bonuses are an excellent way to start off your sports betting career because they essentially give you free money to bet with! However, it’s important to remember that Welcome Bonuses come with certain terms and conditions attached. For example, most Welcome Bonuses will have wagering requirements attached, which means that you’ll need to bet the bonus amount a certain number of times before you can withdraw it. Be sure to read the fine print before claiming any Welcome Bonus so that you know exactly what you’re getting yourself into.
Which Sportsbooks are Offering Welcome Bonuses in Ohio?
Now that we’ve answered the question “what is a Welcome Bonus,” let’s take a look at which sportsbooks are offering them in Ohio. Of course, all of the major players like DraftKings, FanDuel, and BetMGM will be offering competitive Welcome Bonuses to new customers. But there are also plenty of smaller sportsbooks worth checking out, like PointsBet and WynnBET. Here’s a quick rundown of some of the top Welcome Bonuses being offered by sportsbooks in Ohio:
Expected welcome bonuses
-DraftKings Sportsbook: Up to a $1,000 risk-free first bet
-FanDuel Sportsbook: Up to a $1,000 risk-free first bet
-BetMGM Sportsbook: Up to $500 in free bets
-WynnBET Sportsbook: Up to $500 risk-free first bet
-PointsBet Sportsbook: Up to two $500 risk-free first bets
-William Hill Sportsbook: Up to $500 free bet
There are also many other great offers being made by other sportsbooks throughout Ohio. Be sure to shop around and compare offers before claiming any Welcome Bonus! Comparison Shopping is Key when it comes to see which offer is right for you! Now that we’ve gone over some of the top offers being made by sportsbooks in Ohio, let’s talk about how to compare them and find the one that’s right for you. The first thing you’ll want to do is look at the size of the bonus being offered. A bigger bonus obviously has more potential value than a smaller one. But keep in mind that bigger bonuses often come with more stringent wagering requirements attached.
So if you’re not planning on betting much or if you’re not confident in your ability to meet those requirements, it might be better to go with a smaller bonus. Another important factor to consider is the rollover requirement attached to each bonus. This is the amount of money you’ll need to bet before you can withdraw your winnings. A smaller rollover requirement is generally better than a larger one because it gives you more flexibility in how you use your bonus funds.
Different kinds of welcome bonuses
With sports betting set to begin in Ohio on Jan. 1, 2023, many sports fans in the state are wondering what kind of welcome bonuses they can expect from the various operators. Here’s a quick overview of what to look for.
Match deposit bonuses
These are the most common type of bonus offered by sports betting operators. Basically, the operator will match your first deposit up to a certain amount, usually $100 or more. For example, if you deposit $50 into your account, the operator will give you an additional $50 to bet with.
Free bets
Another common type of bonus, free bets give you a certain amount of money to bet with (usually $20 or less) without having to make a deposit. For example, if you sign up for an account with a $20 free bet bonus, you’ll be able to place a bet worth up to $20 without having to put any money down. If you win, you get to keep the winnings; if you lose, you don’t owe anything.
Risk-free bets
Risk-free bets are similar to free bets, except that if you lose your bet, the operator will refund your original stake. For example, if you place a $10 risk-free bet and lose, the operator will give you back your $10. Risk-free bets are generally larger than free bets (usually $50 or more), but they’re also much rarer.
Ohio welcome bonuses
There are a number of different welcome bonuses that sports betting operators in Ohio might offer when sports betting begins on Jan. 1, 2023. The most common are match deposit bonuses and free bets, but risk-free bets are also sometimes available. Be sure to shop around and compare offers before deciding which operator to bet with.