How Much Money In Ohio Sports Betting Promos Was Really Available?

Written By Brett Gibbons on January 23, 2023 - Last Updated on January 25, 2023
Ohio Sports Betting Bonuses Promos

“Get $200 in bonus bets right at sign up!”

“Deposit just $10 and get $100 instantly!”

Yeah, OK.

Oftentimes, when something sounds too good to be true, that’s because it is. With dozens of sportsbooks dangling hundreds of dollars each in signup bonuses and promotions, it’s hard for Ohio sports bettors to determine what is and is not real.

So, how much was really up for grabs at launch with Ohio sports betting promos?

Turns out, a LOT.

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Ohio Sports Betting Promos: Not too good to be true

New Ohio sports bettors who signed up with multiple sportsbooks really did cash in with hundreds of dollars in bonus bets and bet credit. From DraftKings Sportsbook‘s 20% deposit bonus to FanDuel Sportsbook‘s bet $5, get $200, bettors really could build a legitimate bankroll with minimal investment.

I am going to be transparent about what dollars I invested into sports betting to give you a foundation for your expectations. So, adjust these numbers accordingly.

Pre-Live Offers

Pre-live offers dominated the total funds available. Only Caesars Sportsbook required an early deposit of just $10 to get the bonus. Those were:

*Must bet a certain amount within 30 days to get it, but it’s out there.

So, with just pre-live offers, there was $800 in bet credit available. But it didn’t stop there — sportsbooks offered signup and deposit bonuses as well.

New Players get up to $3,000 bonus at FanDuel Sportsbook
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$3,000
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Signup & Deposit Bonuses

  • DraftKings: 20% deposit bonus
  • FanDuel: Bet $5, get $200
  • bet365: Bet $1, get $200

I deposited over 50% of my bankroll into DraftKings because they had a direct incentive to do so. I put $1,000 into it and got $200 additional in bet credits. Your number may differ, but I’m counting my experience. Deposit bonuses added another $1,400 to my bankroll. Right now, including the $1,000, I only had to commit $1,010 to return $2,200 in total credit bonuses.

The biggest note with signup and deposit bonuses: They both expire and have to be turned into actual cash by winning bets. So, the average bettor can expect to return about 50% of their pre-live and sign-up bonuses.

Caesars Sportsbook and BetMGM offer bet insurance up to a certain amount, so I don’t count these in bonuses.

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No-Brainer Promos

While sporadic, books offered ample “no-brainer” bets with the Browns, Cavaliers, Bengals, Ohio State basketball, and more. Some examples of no-brainers include, “+100 odds for either team to score a point, max bet $50.” Max these out — with or without bet credit — for an instant $50 return.

In total, the six books I bet with offered $425 in no-brainers. This is direct cash, so no need to turn bet credit into bankroll here.

This also doesn’t include a plethora of +EV odds boosts, which are nice sweeteners.

Referrals

If you read my Ohio sports betting promos prep and strategy guide, you may have strategically traded referral bonuses. If you did, tack on another $100+ in bet credit. It’s not too late for that, either — that’s an ongoing promotion with multiple books including FanDuel and DraftKings.

How much was REALLY available with Ohio sports betting promos?

Tally it all up, and there was legitimately $2,625 in promotional credit available to new Ohio bettors. Factor in the expected 50% return on the pre-live and signup bonus credit, and the average Ohio bettor could grow a bankroll over $1,500 with a $1,000 investment.

The absolute minimal investment — that is, $10 at each book — would still offer $1,630 in bonus credit. So with just a $60 investment, the average bettor could reasonably build a $1,000 bankroll.

For any skeptics, take advantage of the flurry of sports betting promotions. Each book is vying for your business, and they’re willing to pay to get on board. For a change, this isn’t too good to be true.

21+ and present in OH. Gambling Problem? Call 1-800-GAMBLER

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Written by
Brett Gibbons

Brett Gibbons is a contributing writer for PlayOhio and TheLines.com. Brett specializes in sports betting and has previously written for Sports Illustrated and Fansided. Brett is an avid sports traveler and former Division-I football recruiter for Bowling Green and Texas State.

View all posts by Brett Gibbons