Sports Betting Commercial Content. 21+. Provided by Action Network, official betting partner of The Inquirer.Can I withdraw bonus bets at FanDuel, BetMGM, DraftKings & other sportsbooks?
Although bonus bets and bet credits on their own can’t be withdrawn, winnings from those bets can be.
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With sportsbooks transitioning their welcome offer terminology from “free bets” to bet credits and bonus bets, it’s fair to ask the question, “Can I withdraw bonus bets or bet credits?” Different sportsbooks use different terminology, but how they work remains the same.
You cannot withdraw bonus bets or bet credits, but you can withdraw cash winnings from those bets at sportsbooks such as BetMGM, FanDuel, or Caesars.
What are bet credits and bonus bets?
Bet credits and bonus bets can be thought of as site credit or in-site currency. Most sportsbooks offer you welcome bonuses that refund your first bet’s stake in bonus bets if you lose, while others make you just place your first bet before being credited with some bonus bets with no other strings attached, such as bet365.
Bet credits and bonus bets cannot be withdrawn after being credited to your account. For example, if you redeem a welcome first bet and lose your first bet, you’ll now have that same amount you bet back in bonus bets that can’t be withdrawn. You need to wager them, and any profits from those wagers will turn into cash.
Bonus bets and bet credits will often have a certain amount of time to be used before expiring. Therefore, it’s important you read your welcome offer’s terms and conditions to understand your offer before signing up.
Additionally, some sportsbooks will award you all your bet credits or bonus bets at once, while others divide them up and space out when you get them. FanDuel for example lets you bet any increment -- if you have $150 in bonus bets, you could make 150 $1 bets or one, $150 bet.
You can’t withdraw bonus bets or bet credits, but you can withdraw winnings
Bet credits and bonus bets cannot be withdrawn, but they can be used to wager on other sporting markets your sportsbook has to offer.
Some sportsbooks make you use your bonus funds or bet credits in one lump sum. Others, such as FanDuel, allow you to use them in as many bets as you want.
The money you win as a result of these bonus bets can be withdrawn for real cash. For example, if you wagered $1,500 on the Philadelphia Flyers to beat the Washington Capitals at +200 and they won, you’d now have $3,000 in cash that can be withdrawn or bet.
If the Flyers lose, you’d get $1,500 back in bonus bets, which you’d have to wager to turn into cash that is withdrawable.
It should be noted that some sportsbooks have different wagering requirements you must meet before being able to make withdrawals. When reading your welcome offer’s terms and conditions, make sure to check and see if you have a wagering requirement that must be met or not.
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