Iowa Sportsbook Bonuses and Betting Offers
Iowa sportsbooks bonuses and betting offers are a great way to get bettors into the apps. Whether it’s bonus bets, enhanced odds, matched welcome bonuses, and more.
Find the latest Iowa sports betting bonuses and promo codes at legal betting apps. You’ll also discover how all the various online sports betting bonuses work in Iowa.
Best Bonus Offers at Iowa Sportsbooks
Currently, you can bet at 19 mobile or online sportsbooks in Iowa legally. The three top sites in the state are bet365 Iowa, BetMGM Sportbook IA, and Betway Sportsbook Iowa. Among others, you’ll find a summary of their welcome bonus deals, along with promotional codes, below:
bet365 Iowa Sportsbook
- Bonus Offer: First Bet Safety Net up to $1,000, OR Bet $5 and Get $150 in Bonus Bets
- Promo Code: PLAYIA
- Registration: Online or the bet365 mobile app
BetMGM Iowa Sportsbook
- Bonus Offer: Bet $5, get $150 in bonus bets (*Bonus Bets Expire in 7 Days. One New Customer Offer Only. Add’l terms.)
- Promo Code: PLAYIA
- Registration: Online or the BetMGM mobile app
Betway Iowa Sportsbook
- Bonus Offer: Up to $250 bonus bet with first wager
- Promo Code: None - Use Links
- Registration: Online
FanDuel Iowa Sportsbook
- Bonus Offer: Bet $5 On Any Money Line, Get $150 In Bonus Bets If You Win
- Promo Code: Click to claim promo
- Registration: Online or the FanDuel app
Not all sportsbooks will use specific promo codes for their welcome bonuses; many make deals available for new bettors. Many sports betting operators will offer you bonus bets, and despite the simple name, we should discuss all the ins and outs of these types of rewards.
How Bonus Bet Bonuses Work in Iowa
One common type of sportsbook bonus that you’ll encounter is the bonus bet. Bonus bets are, more or less, what you’d expect them to be. They are vouchers to place a bet of a specified amount.
Sportsbooks will typically offer them in exchange for something. For instance, the book may want you to register, make a deposit or place a bet.
One of the nice things about bonus bets is that they are among the few win-win situations in sports betting. While you get the opportunity to place a bet at no cost and (maybe) win some money, the sportsbook has the chance to impress you and (hopefully) gain you as a customer.
Claiming a bonus bet
Claiming a bonus bet depends entirely on the language of the offer. In some cases, you’ll get the bonus bet as a sort of gratuity or immediate benefit. For other promotions, you’ll have to satisfy certain conditions to receive the bonus bet.
Typical situations that may come with a bonus bet include:
- No-Deposit Bonus: These offers are typically reserved for introductions to the sportsbook and new players. The bonus bet will be waiting for the brand-new sportsbook customer as compensation for their registration.
- Deposit Bonus: Deposit bonuses involve the sportsbook matching a portion of your deposit amount in some way. While it’s more common to receive these bonuses as site credits, you will occasionally receive bonus bets as the match. Watch out for the playthrough associated with these types of bonuses, though — more on that in a minute.
- Bonus Bonus: Losing while you bet on sports is inevitable, and sportsbooks don’t want you to get a sour taste in your mouth if things don’t go your way. So, they’ll offer to ensure a certain amount of your bet or bets on specified events or time periods. However, most sportsbooks will refund you with a bonus bet of the appropriate amount rather than sending cash.
Using a bonus bet
Once you have the bonus bet bonus in hand, you’ll want to use it obviously. The first thing to understand is that bonus bets are not divisible or bankable in any way.
In other words, you must use the total value of the bet. If you try to parcel up the value of the bonus bet, it likely won’t work. Even if you manage to bet for less than the full value, you’ll forfeit the remainder. So, there’s no need to try and play conservatively with a bonus bet.
The fine print may limit the type of bet you can make. Depending on the language in the terms and conditions, you may find that you cannot wager on overwhelming favorites, for instance. This kind of restriction is not universal, of course, but it’s good to be aware that it may be present.
After you place the bet, the wager will either win or lose, of course. If it loses, then there’s no harm, no foul to you. However, if it wins, you may be surprised about the amount of money you get back.
With typical winning sports bets, you get both your profit and the value of your stake in return. So, if you bet $200 to win $100, your total payout would be $300.
However, with bonus bets, the sportsbook does not return the value of the bonus bet to you after the bet is complete. In the example above, your payout would only be the $100 profit.
It’s still nice to win money, but you’re just getting the white meat with a bonus bet.
Iowa Sportsbook Welcome Bonus Terms
With any bonus, it pays to read the fine print. While the sportsbooks are not deliberately trying to mislead you, you should always click the links that say “See Terms” alongside the bonus offers. As you’ll read, some deals are a lot better than others.
Here are the key terms to look for when comparing online sportsbook bonus deals in Iowa:
- Playthrough: This is also known as a wager through. It shows the number of times a bonus needs to be bet before it is “cleared” into your regular cash balance, where it can be withdrawn. No book will have a zero playthrough as it would be possible to deposit and withdraw the extra cash right away. The best books have a 1x requirement; you bet the bonus at least once. Others will have between 5x and 20x. The rule of thumb here is; the lower the playthrough, the better the bonus.
- Time Allowed: This varies depending on the type of bonus. bonus bets need to be settled within seven days at many books (excluding futures bets). Matched bonuses and bonus first bets usually have longer time-frames: 30 days is common, though it can be 60 days or more. If you bet small stakes and want to take advantage of a bigger bonus, then check for books that give you a longer timeline.
- Minimum Odds: It can be tempting to pick teams that are huge favorites to fulfill your wagering requirements. Many Iowa sportsbooks will stop this by adding a minimum odds requirement for bonus clearance. For example, many books won’t allow wagers of -200 or lower to count.
While these are the three biggest factors, there might also be restrictions on the types of bet you can place. This can include excluding certain sports, prop bets or multiples.
On the positive side, you might find extra welcome bonus offers at some sportsbooks to encourage you to start betting on your mobile device or on their in-play betting section.
Ongoing bonuses in Iowa: Promos and rewards for regular bettors
Ongoing promos show the difference between online sportsbooks than the welcome bonuses do. Some books will stick to tried and trusted odds boosts and insurance offers, while others will come up with fresh promotions regularly.
These ongoing sportsbook bonuses will make a bigger difference to you financially over the long term than the short-lived welcome offers do. It can pay to bookmark the promotions page of all the betting sites.
You can check them all before you place your bets on match-day. You never know when you might find offers linked to exactly the matches you were going to bet on.
Much like with the welcome bonuses, you can see the real value of these promotions via the terms and conditions. Here are the main types of promotion:
- Reload Bonuses: If you run out of cash, then a reload bonus can give you a boost on new deposits. These work in a similar way to the matched welcome bonuses. In general, the percentage matched will be lower. For example, a typical welcome bonus might be at 100%, while a reload bonus could be 50%.
- Enhanced Odds: Big matches are often the target of special promotions where you get enhanced odds for certain types of bets. This can give your profits a big boost if you make the right bet. Some enhanced odds promos involve combining two or more games into a single bet.
- Insurance Promotions: Sportsbooks will offer bet insurance for parlays, and sometimes for specific matches where the results change in overtime. Parlay insurance returns your original stake if you lose a multi-match (often 5+) parlay by a single leg. Overtime insurance will also return your stake. There are many variations on the insurance theme. For example, your stake returned on a 0-0 draw in soccer for a high-profile match.
- Picks and Leaderboard Contests: Free-to-enter picks contests are an entertaining way to take advantage of some promotional cash from sportsbooks. Here you are picking the outcome of many fixtures, competing with other people at your betting site for a share of the prize pool. Leaderboards work on a weekly or monthly basis, with your picks or live bets compared to other bettors. This type of contest often requires opt-in.
- Parlay Boosts: Some sportsbooks will give any parlays you land a boost. The amount of the boost will depend on how many legs your bet contained. If you won a 10+ leg parlay, you will already be celebrating a boost of 50%, for example, could make that celebration even better.
Other promotions include wheel-of-fortune type spins, which give out betting credits or cash bonuses. In other states, there are also crossover promotions. With no casino or poker games online in Iowa at the moment, we’d need to wait for future legislation for this to happen.
Promotions tend to hit a peak with the big sporting events. March Madness, the Super Bowl, World Series and NBA finals are a great time to check the sportsbooks for extra deals.
Iowa Sportsbook Bonuses: Loyalty Programs
Some Iowa sportsbooks offer loyalty rewards. Some books will tie their loyalty programs into their existing (live) casino comp schemes. Others will create complex schemes with multiple levels, while others will have flat cash-back type schemes.
To get the most from multi-level schemes, you need to dedicate a large part of your betting to a single site. While the rewards for getting to “VIP” level can be big, these do need to be balanced by other factors.
For example, if the odds offered for your preferred leagues are better at another book, then playing somewhere just for the loyalty scheme could cost you money over time, however good the rewards. This also ties in with the other types of bonuses and promotional offers covered above.
Schemes that tie in with live casinos might offer you resort credit and free room nights at casinos around the country. Balance this with betting bonuses and other online rewards before you decide which is the best for you.
Some sportsbooks, for example, BetRivers, will “gamify” its loyalty scheme and use a progress bar. This social loyalty program includes a live feed where you’ll see the big wins of others who are betting at the site.
If you are a big bettor, then you could be eligible for a host and true VIP status. Look out for tailored bonuses, expedited deposits and even events like comps for major sporting events once you reach the top level.
How to Get the Best Iowa Sportsbook Bonuses
You are already ahead of most Iowa bettors because you’ve read this far. We also give you five tips for maximizing your betting returns as the new sportsbooks appear:
- Money and Deposit Method Management: You need to decide how you’ll deposit and withdraw from the online sportsbooks. Debit cards, e-wallets and bank transfers all work at Iowa sportsbooks; however, credit cards do not. Set aside a portion of your betting bankroll to take advantage of bonus offers as they appear – withdrawing funds once the offer is cleared if needed. By having this available, you’ll be able to take advantage of the maximum number of deals, giving your overall betting bankroll a boost.
- Check the Terms: Make it part of your routine to check the terms of each bonus offer before you accept it. It does not need to involve hours reading through legal-speak documents; however, a quick check for restrictions, time limits and playthrough requirements will usually suffice. These checks will ensure you don’t get caught taking a sportsbook bonus that wasn’t as good as it seemed initially.
- Look Out for Launches: When a new sportsbook launches, it will often have extra promotions. Keeping track of the new books by reading PlayIA regularly will ensure you will be in the know on the latest promotional offers. There are more sportsbooks coming in 2022.
- Bookmark the Promotions Pages: Before you place a bet at your regular sportsbook, check around the promo pages of all the Iowa betting sites. You never know when you’ll find an odds boost, insurance deal or promo that applies to the bet you plan on placing.
- Email Marketing: If you have not bet for a while at a specific book, you might find special offers appearing in your inbox. Make sure you opt-in to emails from all the sportsbooks.
Wrapping Up: Understanding Bonus and Promotional Offers
With so many online sportsbooks launching, there has never been a better time to take advantage of bonuses and promotional offers. The books will let you download their apps and become your go-to site.
By taking a practical, methodological approach to these bonuses, you can give your betting bankroll a welcome boost.
bonus bet offers are a great starting point. These tend to be on the small side, though they are entirely bonus. The bigger welcome bonuses come in the form of bonus bets or matched welcome offers.
These bonuses will only last for a short while. Fortunately, there are plenty of deals that can keep you topped up over the long term. These include promos such as reloads, odds boosts and insurance, and loyalty programs. There is a lot of difference in both the number and the quality of the promotions at various Iowa sportsbooks.
Reading the terms is a must for profiting from sportsbook bonuses. There is often a lot of variation in playthrough and restrictions on the odds for this.
While bonuses are always welcome, the key to successful betting over the long term is to find value. As you work through the bonus offers, take a look at which sportsbooks regularly have the best odds on your favorite sports.