How Do First Bet Offers Work?

Sportsbooks in the United States of America offer bonuses and promotions to new and existing customers.

Dimers uses only the most trusted sportsbooks across the US to ensure you enjoy safe, secure online betting.

You'll find the likes of Bet365, FanDuel Sportsbook, DraftKings Sportsbook, BetMGM and other books available in your state on our site, all of whom have special offers and promotions available as you join. When you reach this point be sure to use the exclusive promo codes available to you through Dimers.

Many of the promotions you'll see do involve first bet insurances, so let's get into what they mean right now.

What is a first bet offer?

First bet offers are often given to a bettor once they've registered with a particular book. The dollar amount can vary, though there are some sportsbooks offering $5,000 first bet insurance upon sign up.

If your first bet loses, you'll be refunded the same amount in the form of bonuses.

If your first up bet wins, the payout is all yours. That's it, no need to think any further. Although if it doesn't, well that's where things get a little more complex. Care to learn why? Please read on, we're getting to it, promise!

Positive Example

You place a $1,000 first time bet on the LA Lakers moneyline (+100) vs. the Nuggets. If the Lakers win, you receive a payout as normal – and have $2,000 sitting in your account.

But, if the Lakers lose, you receive $1,000 in bonus bets.

Do I get my stake back on bonus bets?

Not usually. 

Almost every sportsbook you come across won't give back your stake on a bonus bet – they keep that, and probably rightly so, it was their money after all.

Of course if you win your first up bet you'll take home your winnings (profit), just not the stake they gave you to win it in the first place.

With a bonus bet, the goalposts shift and you usually only receive the winnings – no stake returned. 

Example: You decide to place a $200 bonus bet on the Cowboys (+200) to cover the spread (+3) at Kansas City.

If the Cowboys lost 28-26, you would win the bet and receive a payout of $400. This of course, doesn't include the initial stake, that $200 bonus bet.

To clarify, if this were a standard bet – rather than bonus – you would have received a total payout of $600 in this case ($400 profit + your $200 stake).

Do I have to use my bonus bet all at once?

This depends on the sportsbook. This is why we recommend you read the terms and conditions regarding each sportsbook. 

If your first-time bet fails, some sportsbooks will give you bonus bets or site credit, which often enables you to wager the bonus however you like.

Ideally, you can break this up into smaller chunks to decrease risk and increase flexibility. Others will offer you a bonus bet strictly usable for just one wager. Not the most ideal situation, so keep this in mind when conducting your betting research.

Can my bonus bet be withdrawn in cash?

Sadly, bonus bets cannot be converted into cash. It is simply for use with the sportsbook app or website.

You can withdraw winnings from a bonus bet, although some books make you turn over those winnings a number of times first.

MORE: Welcome to Dimers

Conclusion

If you can strike it hot with your initial fitst-time bet you'll be smiling.

Sometimes you can end up with small change in your pocket from a bonus bet – if your initial play falls short. Though, there are scenarios.

No matter your thoughts on bonus bet betting, we're simply here to lend a hand and ensure you know all the ins and outs before you join a sportsbook.

And if you're looking to test your bonus bet out with the best odds in the United States, we've got you!