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If you’re a bettor who’s looking for a hefty welcome bonus, look no further than Sports Illustrated.

First-time players who register on the site can bet $20 and get $200 in bonus bets on their first bet if that first wager loses.

You don’t need us to tell you that this is a hefty sum for a small initial investment, especially when you look at the average amount that other sportsbooks offer.

Plus, SI’s welcome offer is as straightforward as any other bonus bet on the market.

If you want to know how you can take full advantage of Sports Illustrated’s welcome promo, then read on for our in-depth guide.

SI Sportsbook Promo Code

SI sportsbook is currently only available in Colorado. So if you’re in the Centennial State and are new to the site, then you qualify for the sportsbook’s welcome offer.

Currently, new users who sign up and deposit using SI’s promo code will get the following welcome offer: Up To $200 in bonus bets if your first wager loses when betting $20.

With this welcome offer, Sports Illustrated sportsbook will give you a full refund on your stake if your first wager loses.

Your first qualifying wager needs to be priced at +120 or higher, so keep that in mind when you’re placing your first bet.

If you fail to meet this requirement, you won’t qualify for a refund. However, the bonus bet tokens that you receive have no such minimum odds requirement.

Sports Illustrated has other lucrative promos, but before we move on to those promos, ensure that you’re familiar with these key terms:

• Total Bonus Available – The total amount that you can receive from a promo.
• No Deposit Bonus – You don’t need to deposit anything to receive such a bonus.
• Bonus Bet Offer – A bonus of a specific amount that is given to you in the form of a free wager and usually can’t be split into smaller amounts.
• Bonus Code – Unique codes that unlock special bonus offers.

Do SI’s Promo Codes Expire?

Like any other welcome bonus, SI’s bonus bet offer has an expiration date. Once you make your first deposit, you need to place your first wager within 7 days.

If that first wager loses, Sports Illustrated will give you a refund in the form of bonus bet tokens.

Those bonus bet tokens also have a 7-day expiration date, so you need to use them to place bets before they needlessly expire.

SI Sportsbook No Deposit Promo Code

No deposit bonuses don’t require any type of financial commitment, and this obviously makes them extremely hard to come by.

So it’s no surprise that this type of promo isn’t offered by Sports Illustrated.

Plus, SI opts for other different types of bonuses in place of no deposit bonuses.

If SI does have such an offer in the future, we’ll definitely give you an update.

SI Sportsbook Deposit Match Bonus

With this type of bonus, a sportsbook will match your initial deposit. So if you make a $350 deposit, the sportsbook will give you $350 in bonus funds.

This is often used as a welcome bonus. Since SI opts for a bonus bet instead, they don’t have a deposit match bonus currently.

SI Sportsbook Bonus Bets

There are several ways that you can earn bonus bets on Sports Illustrated. One such way is through a promo called SI Dividends.

To qualify for this promo, you have to be new to the site, and you also need to use the promo code “SIDIV” when making your first deposit.

After that, you’ll need to risk $20 or more on your first bet. Once that wager has been settled, SI will reward you with a $10 bonus bet every week for 18 weeks.

You can also earn bonus bets by participating in many of the sportsbook’s sports-specific promos.

SI Sportsbook Bonus Bet

SI’s welcome bonus is a bonus bet. New users who sign up can get up to $300 back if their first wager turns out to be a losing bet.

Basically, this means that the first bet that you place on the site is all but ensured.

If your first wager loses, SI will refund your stake in full by giving you bonus bet tokens.

Of course, if you don’t lose your first bet, you don’t get a refund.

But in such a case, you’ll be happy because you won your first wager on the site.

How To Redeem SI Sportsbook Promo Code

If you want to get SI’s welcome bonus, you need to know how to redeem their promo code. Fortunately, doing so is extremely easy.

Here are the simple steps that you need to follow:

1. Download the SI app on your device of choice. Alternatively, you can click one of our links to be redirected to SI’s site.
2. Click the “Join Now” button.
3. Enter the following details on the registration page: Your full name, address, date of birth, and your Social Security Number (Last 4 Digits). When done, click next.
4. On the next page that pops up, you’ll need to enter these other details: Your email address, phone number, password, and a security question. Finally, agree to the terms and then submit all your registration info.
5. Verify your account by completing SI’s KYC process
6. Make your first deposit. You won’t need to enter the promo code when you’re making your first deposit.
7. Place your first wager. If it loses, you’ll receive a refund within 72 hours.

Check Bonus Funds On SI Sportsbook App

SI will notify you once they credit bonus funds into your account.

You can also check whether you have any bonus funds by adding a selection to your bet slip.

If the sportsbook has issued you with bonus funds, you’ll have the option of using the credited bonus to place a bet.

How Long Do Bonus Funds Take To Arrive?

According to the sportsbook, it can take up to 72 hours for bonus funds to arrive. However, it doesn’t usually take that long.

In most cases, you’ll receive the bonus funds once your qualifying wager has been settled as a loss.

If it takes longer than 72 hours, you should reach out to SI’s customer support team for further assistance.

Rollover & Wagering Requirements

Even though SI sportsbook is giving bettors a hefty amount, their welcome bonus has very few restrictions.

There’s a standard 1x rollover, meaning that you just need to play the bonus once for you to turn it into withdrawable cash.

However, like most other bonus bet offers, you’re only rewarded with the profit from the bonus as the bonus itself is not included in your final earnings.

For example, let’s say that the sportsbook rewards you with a $500 bonus bet token.

If you use this $500 bonus to place a sports bet that is priced at +100, you’ll only receive your profit, $500, and not the stake.

This is typical in the online betting world, so, understandably, SI is following what other sportsbooks practice.

Sports Specific Bonuses & Promotions

Even before they jumped into the sports betting world, Sports Illustrated has always been a sports-heavy brand.

So you can always expect many sports-specific promos from their sportsbook.

Such promos include the following:

NBA Promos

• Open Season Challenge – Get a $20 bonus bet when you bet $100 on NBA games

NFL Promos

• Perfect 10
• Various NFL betting promotions

NHL Promos

• Open Season Challenge – Get a $20 bonus bet when you bet $100 on NHL games

SI Sport Promos

• Boosted Parlays
• Three and Win – Get a $20 bonus bet when you place a 3-legged parlay

Promos Outside The Regular Signups

Here are a few other promos from Sports Illustrated that you should consider:

Refer A Friend

Sports Illustrated does not have a refer-a-friend offer.

Weekly Challenge

• Open Season Challenge
• Three and Win

Promos Worth Considering

• SI Dividend
• SI Specials

State Specific Promos & Bonuses

At the time of writing, the SI sportsbook is only available in Colorado. So all the promos that we mentioned are exclusive to bettors in the Centennial State.