Best Sportsbook Promos & Sports Betting Bonuses for August 2024

Martin Derbyshire

• 21 min read

Grab the best sportsbook promos & sports betting bonuses for here.

(AP Photo)

The likes of DraftKings, FanDuel, BetMGM, Caesars, BetRivers, bet365, and FanDuel offer new sports bettors a number of ways to win with enticing sportsbook promos and welcome bonuses, including bonus bets and deposit matches.

While March Madness is behind us, and we're firmly in the football offseason, that doesn't mean there's a shortage of betting options. Between weekly golf tournaments, daily baseball games and the NHL and NBA playoffs, there's plenty to sink your teeth into. That's why the leading operators in the US are so generous with their sports betting bonuses!

Our comprehensive guide below is here to give you all the key information on top sports betting promos so that you can make an informed decision and pick the best one for you!

Best sportsbook bonuses for July 2024

The biggest brands in sports betting are present in dozens of states, unveiling all kinds of bonus and promo offers to attract new customers. Here is a look at what the best sports betting sites have available right now as welcome offers for new sign-ups along with the bonus codes you'll need to claim them.

Once you get an account at any of these sites, you’ll discover each additionally runs frequent ongoing promotions you can keep taking advantage of as you make your wagers.

Read on for more details regarding the welcome offers at each of the top online sportsbooks.

Rank	Sportsbook	Promo Code	Active Bonus Offer
#1	Caesars Sportsbook	NEWS1000	Up to $1,000 First Bet on Caesars
#2	Bet365 Sportsbook	NJTSN**	First Bet Safety Net up to $1,000 or Bet $5 Get $150 in Bonus Bets
#3	BetMGM Sportsbook	SPORTSPICK	Up to $1,500 in bonus bets* paid back if your first bet does not win
#4	BetRivers Sportsbook	SPORTSRIV	2nd Chance Bet up to $500
#5	FanDuel Sportsbook	Use Link	Bet $5, Get $200 in Bonus Bets if you win + 3 weeks of NFL Sunday Ticket
#6	DraftKings Sportsbook	Use Link	20% match up to $1,000 (25x playthrough) + $50 Bonus Bet with $5 deposit + Bet $5, Get $200 in Bonus Bets

**Use code NJTSN for NJ, TSNCO for CO, TSNLA for LA, VATSN for VA TSNAZ, TSNIN for IN, TSNIOWA in IA, TSNKY in KY, TSNBETS in OH, TSNNC in NC

*Bonus Bets Expire in 7 Days. One New Customer Offer Only. Add’l terms.

1. Caesars Sportsbook promo code

Caesars Sportsbook is a favorite choice among bettors in many states across the US. Right now new Caesars Sportsbook sign-ups who enter bonus code NEWS1000 will receive a $1,000 First Bet Bonus should they fail to win their first wager on the site.

Once you register at Caesars Sportsbook, you will have 30 days to place your first qualifying wager. If the bet loses, Caesars will refund the amount you lost in the form of a Bonus Bet worth up to $1,000. That Bonus Bet will appear in your account within two days of the bet being settled, after which you will have seven days to use it. If you win with your Bonus Bet, you’ll receive the winnings right away and can either bet again with them or withdraw the money.

Caesars Sportsbook has lots of other ongoing promos including odds boosts and other bonuses. Users also can earn additional rewards via the famous Caesars Rewards loyalty program.

Caesars Promo Code: NEWS1000
Caesars Best Promo Offer: Lose your first wager and receive a refund as a Bonus Bet worth up to $1,000
Promo Terms and Conditions: Must deposit at least $10; must place first wager within 30 days; must use Bonus Bet within seven days
States Where Offer Is Available: AZ, CO, IL, IN, IA, KS, KY, LA, MD, ME, MA, MI, NJ, OH, NY, PA, TN, VA, WV

2. Bet365 Sportsbook promo code

Bet365 Sportsbook is another popular online sports betting site available in many states that has an inviting welcome offer. In fact, it is a choice between two offers. Those who use the appropriate bonus code for their state (see below) when registering can either receive a $1,000 First Bet Safety Net (a “second chance” offer similar to Caesars’) or receive $150 in Bonus Bets for wagering at least $5.

If you choose the $1,000 First Bet Safety Net, you first need to deposit at least $10 into your account within the first seven days. Then make a first bet on the site within 30 days, and if you lose you receive the equivalent amount back as Bonus Bets worth up to $1,000. For the second option, similarly deposit at least $10, then make an initial wager of at least $5 and Bet365 will give you $150 in Bonus Bets.

With both of these offers you have as long as you like to use your Bonus Bets. Only if your account is inactive for 90 days will you lose them. Once you’re on the site, look for other regular promotions like odds boosts and early payout options.

Bet365 Promo Code: NJTSN (New Jersey); TSNCO (Colorado); TSNLA (Louisiana); VATSN (Virginia); TSNAZ (Arizona); TSNIN (Indiana); TSNIOWA (Iowa); TSNKY (Kentucky); TSNNC (North Carolina); TSNBETS (Ohio)
Bet365 Best Promo Offer: First Bet Safety Net worth up to $1,000 in Bonus Bets or Bet $5 and receive $150 in Bonus Bets
Promo Terms and Conditions (for both offers): Must deposit at least $10; must use Bonus Bets within 90 days
States Where Offer Is Available: AZ, CO, IN, IA, KY, LA, NJ, NC, OH, VA

3. BetMGM Sportsbook promo code

BetMGM Sportsbook is known as the “King of Sportsbooks,” and for many bettors across the US, it does reign supreme as an excellent sports betting site. Use the bonus code SPORTSPICK when signing up for an account, and you’ll be eligible for an offer of up to $1,500 in bonus bets* if your first bet does not win. (*Bonus Bets Expire in 7 Days. One New Customer Offer Only. Add’l terms.)

The BetMGM Sportsbook welcome offer works similarly to other sites. First, deposit at least $10, then make an initial wager. If that bet loses, you'll receive the original stake back in bonus bets up to $1,500. You’ll see those Bonus Bets in your account within 24 hours of your original bet settling, then you’ll need to use them within seven days or else they’ll expire.

After that, be sure to take advantage of BetMGM Sportsbook’s odds boosts, refer-a-friend bonuses, and other promos and benefits you can receive from the BetMGM Rewards loyalty program.

BetMGM Promo Code: SPORTSPICK
BetMGM Best Promo Offer: Up to $1,500 in bonus bets paid back if your first bet does not win (*Bonus Bets Expire in 7 Days. One New Customer Offer Only. Add’l terms.)
Promo Terms and Conditions: Must deposit at least $10; must use Bonus Bets within seven days
States Where Offer Is Available: AZ, CO, DC, IL, IN, IA, KS, KY, LA, MA, MD, MI, MS, NJ, OH, PA, TN, VA, WV, WY

4. BetRivers Sportsbook promo code

BetRivers Sportsbook offers those who use the bonus code SPORTSRIV when creating their accounts a nice Second Chance Bonus enabling them to lose their first bet and receive the money as a Bonus Bet. The maximum amount of the bonus varies from state to state, ranging from $100 up to $500.

Once you register at BetRivers, deposit at least $10 and then place your first bet. If you don’t win, you’ll get the amount you wagered back as a Bonus Bet worth up to whatever the maximum is in your state. You’ll receive the Bonus Bet within 24 hours, and then you’ll have 30 days to use it on any wager with odds of -200 or longer. Win with your Bonus Bet, and you collect the winnings either to withdraw or use for other wagers.

A lot of bettors like BetRivers Sportsbook for its competitive odds and frequent promotions, including lots of special individual and team props in its “Prop Central” section. The “House Specials” also regularly offer boosted odds and other fun options. Meanwhile, you can earn benefits every time you bet at BetRivers via the iRush Rewards program.

BetRivers Promo Code: SPORTSRIV
BetRivers Best Promo Offer: Lose your first wager and get the equivalent back as a second chance Bonus Bet worth $100, $250 or $500 (depending on your state)
Promo Terms and Conditions: Must deposit at least $10; must use Bonus Bet within 30 days
States Available: IL, IN, LA, MD, MI, PA, VA (max. $500 Bonus Bet); CO, NJ (max. $250 Bonus Bet); AZ, IA, NY, WV, OH (max. $100 Bonus Bet)

5. FanDuel Sportsbook promo code

FanDuel Sportsbook is the single most popular online sportsbook in the US right now thanks in part to its great welcome offer and many ongoing promos. New sign-ups at FanDuel who use our links are eligible to receive a Bet $5, Get $200 in bonus bets offer + 3 weeks of NFL Sunday Ticket,

After signing up, deposit at least $10 and make an initial qualifying wager of at least $5 and you’ll receive $200 in Bonus Bets. You have to use the Bonus Bets within seven days, but you can wager them in any increment you like.

FanDuel has a ton to offer with its wide selection of betting markets and plenty of ongoing promos like profit boosts, “no sweat” bets and popular premade same-game parlays.

FanDuel Promo Code: No code needed; use our links
FanDuel Best Promo Offer: Bet $5 and receive $200 in Bonus Bets + 3 weeks of NFL Sunday Ticket.
Promo Terms and Conditions: Must deposit at least $10; must make first qualifying bet of at least $5; must use Bonus Bets within seven days
States Available: AZ, CO, IL, IN, IA, KS, KY, LA, MA, MD, MI, NJ, NY, OH, PA, TN, VA, WV, WY and VT

6. DraftKings Sportsbook promo code

DraftKings Sportsbook may appear here at the end of our list, but it is truly a top choice of online sportsbook for many bettors. Right now if you use our links to sign up at DraftKings you will be eligible to receive a multi-part welcome offer potentially worth up to $1,250 in Bonuses.

The DraftKings offer is really three offers in one. First, deposit at least $5 and instantly receive a $50 Bonus Bet. Second, when you make that first deposit you can also get a 20% deposit match bonus worth up to $1,000 in Bonus Bets. That means you’d have to deposit $5,000 to get the full $1,000 in bonuses (20% of your deposit). Also be aware there is a 25x playthrough requirement as well, meaning you’ll have to do some wagering in order to receive it all.

Finally, when you make an initial bet of at least $5, you’ll get $200 more in Bonus Bets. In other words, it is relatively easy to get $250 in Bonus Bets right off the top, and there’s another $1,000 available, too, depending on your preferences. Then once you’re settled in at DraftKings you can look for more promos like profit boosts, “stepped up” parlays, free pools and more.

DraftKings Promo Code: No code needed; use our links
DraftKings Best Promo Offer: Receive up to $1,250 in Bonus Bets as described above
Promo Terms and Conditions: 25x playthrough requirement on the deposit match bonus must be completed within 90 days; must use the other Bonus Bets within 30 days
States Available: AZ, CO, CT, IL, IN, IA, KS, KY, LA, ME, MD, MI, NH, NJ, NY, OH, PA, TN, VA, WV, WY and MA

The most common types of promotions and bonuses at sportsbooks

Here’s a look at some of the bonuses and promotions the best sports betting apps offer.

Deposit match bonuses

Some online sportsbooks offer deposit match bonuses either as a welcome offer or to regular players when they are sometimes called “reload bonuses.”

Essentially, with a deposit match bonus the site “matches” your deposit with a bonus sized according to the amount you’ve deposited. For instance, if it is a 100% deposit match bonus and you deposit $500, the bonus will be worth $500. For a 20% deposit match bonus, that same $500 deposit would get you a $100 bonus. Often you aren’t given cash but rather site credits or bonus bets with deposit match bonuses.

You also sometimes have to clear a wagering requirement in order to receive the bonus, which means risking some or all of that money you’re depositing in order to “unlock” the bonus and actually get it. For example, if it is a $100 bonus with a 10x wagering requirement, you have to bet $1,000 in order to release the bonus funds into your account.

No deposit bonuses

When an online sportsbook offers a no-deposit bonus, that means just what it sounds like — you need not make a deposit in order to receive it.

Usually a no deposit bonus is given as side credit or bonus bets. That means you cannot withdraw the bonus, but you have to wager it.

In some cases, if you win money with your no deposit bonus there could potentially be a wagering requirement that forces you to wager a certain amount in order to receive your winnings. Most of the time, though, sportsbooks only require you to wager the bonus itself and let you use your winnings however you like.

Bet and get bonuses

A bet and get bonus is one that requires you to perform a particular action, namely to make a certain bet, and you will get back the bonus.

For example, a sportsbook make have a special promo that invites you to place a $20 wager on any NBA contest, and in return you’ll get a $10 bonus bet.

Again, as with all bonuses, be sure to read the terms and conditions and see if there are any wagering requirements attached to winnings you earn when using the bonus.

Second chance bets

A common promotion at online sportsbooks is the "second chance" promo that gives a bettor a second try after losing a wager. Many welcome offers involve second chance bets for the new user's first wager on the site.

More often than not, a second chance bet promotion awards the bettor a refund equal to the wager amount lost in the form of a bonus bet that can be used again. Note, however, that when you use a bonus bet and win a wager, you typically only receive the winnings back and not the stake amount.

Sometimes sites will award such second chance bets or "moneyback" offers when certain outcomes occur, say, when a team loses a game in overtime or some other condition is met to give a bettor a second try.

Referral bonuses

Many online sportsbooks have an ongoing “refer-a-friend” promotion to encourage current users to get others to create accounts and start wagering. These referral bonuses usually come in the form of site credits or bonus bets, typically worth $50 or $100.

Usually all you have to do is get your friend to register an account and you’ll receive the bonus. Sometimes your friend will have to place a minimum wager first before you can get it.

Also, in some cases, your friend will also receive a bonus of some kind thanks to your referral (usually for a lesser amount).

Ongoing promotions at online sportsbooks for existing members

Here’s a look at some of the different types of ongoing promotions at online sportsbooks.

Odds boosts

Odds boosts offer the bettor increased odds on a popular betting market, like NBA betting odds, March Madness betting or Super Bowl prop bets. When you place a bet for which the odds have been boosted, you receive a larger payout than usual if the bet is a winner. Most sports betting sites offer daily and weekly odds boosts.

Profit boosts

A profit boost is similar to an odds boost in that it increases the payout for a winning bet. Odds boosts are usually attached to a specific bet such as a readymade parlay the site has created. Profit boosts usually give you more freedom, letting you choose your own bet and then have the profit boost applied when you win. Many licensed sportsbooks offer profit boosts on specific sports in season, including MLB promos and boosts during the baseball season.

Insurance

Sports betting sites often run promotions giving you "insurance" on certain bets that award some sort of refund should you lose the bet. These are sometimes called "second chance" or "no sweat" bets that refund back the bet amount as bonus bets with which you can bet again. You're not getting cash back, but site credit with which you can place another wager.

Pools and contests

Many online sportsbooks also run free-to-play pools and contests that often award prizes of bonus bets (i.e., site credits). Pick’em contests and props are common examples, as are bracket pools when March Madness rolls around.

Related pages:

How to use a sportsbook bonus code

As mentioned above, sometimes you need a promo code or bonus code to take advantage of the latest offer from a licensed online sportsbook. These promo codes are for new players to use during the registration process. You’ll find a space to enter the code on the registration forms when you enter your personal info in order to create your account.

See more: How to bet on sports online for beginners

What are bonus bets?

You’ve seen the term “bonus bets” several times already to describe a type of bonus that is not cash but rather site credit. When online sportsbooks award you bonus bets, you’ll find they work just like cash with one important difference.

When you place a regular cash wager at a sports betting site and win, you receive back the wager amount plus the winnings. Say you bet $20 on a wager with +200 odds and won. You’d get the $40 in winnings plus your original $20 wager, meaning you’d receive back $60 altogether.

However, with a bonus bet you generally do not receive the bet amount back. For instance, in that same example if you won a $20 Bonus Bet you’d only get the $40 in winnings and not the stake back.

How does bet insurance work?

A bet insurance promo refunds losing bets, usually with site credit. The terms and conditions will spell out precisely what bets qualify for the insurance promo. They’ll also tell you if you get cash, site credit, or bonus bets back.

If the refund is in bonus bets or site credit, you probably won’t get the original stake back. Plus, there could be wagering requirements attached to any winnings.

Are sportsbook bonuses worth it?

Almost all sportsbook bonuses are promos are worth signing up for, especially those offering bonus bets or deposit matches. You can turn bonus bets into withdrawable winnings by wagering with credit given to you by the sportsbook. Deposit matches allow you to increase your bankroll just by adding money to your account.

Of course, there are almost always wagering requirements and other terms and conditions attached, so be aware of these to maximize your sportsbook bonuses.

Terms and conditions for betting promotions

Whenever sports betting sites run promotions or offer bonuses, there are always certain terms and conditions attached. It pays to take the time to read through these as they can help you understand exactly what the promo is offering. Sometimes these terms might make a particular offer less attractive than it might seem at first glance. Don't be surprised later -- always read through those terms and conditions and if ever anything is unclear contact support with your questions.

Here are a few common terms and conditions you'll likely encounter with online sportsbooks' promos and bonuses:

Wagering requirements: Also called “playthrough requirements,” these are requirements to wager a certain amount on the site in order to receive the bonus. If there is a 25x wagering requirement attached to a $100 bonus, that means you have to wager 25 x $100 or $2,500 before you can receive the bonus.
Time limits: You might have notice several of the welcome offers up above have time limits associated with them. In some cases, you might receive a bonus and only have a certain amount of time to use it (e.g., seven days) or it will expire and you’ll lose it. There might be time limits on fulfilling wagering requirements as well.
Bet limits: Pay attention to whether or not you have to make certain types of bets either when wagering with your bonus or in order to receive a bonus. You might be limited only to make a bet with certain odds (e.g., -200 or longer) or you might only be allowed to bet on a certain sport or contest. Often with bonuses you can’t use odds boosts or combine other offers.
One bonus per account: With welcome offers, for example, sports betting sites will often only allow a user to claim a particular offer one time, or to use a particular bonus code once.
Maximum winnings and/or banking restrictions: Sometimes a site will only let you win a certain maximum amount with a bonus. You may find also with bonuses certain restrictions when it comes to banking options, such as not being able to withdraw the bonus but having to wager it.
Geographical restrictions: Sometimes a bonus offered in one state is not available in another. Be sure to confirm a bonus is indeed offered in your location.

Sports betting promos by state

Sportsbook promos and bonuses FAQ

What is the maximum bonus you can get?

The terms and conditions for any online sportsbook bonus will tell you the maximum bonus you can claim. Bonuses are always limited to one per person. The terms will also tell you if the bonus is limited to one per household.

How many bonuses can I use at one sportsbook?

Online sportsbook bonuses are always limited to one per person and sometimes to one per household. However, you can take advantage of more than one ongoing promo at any sportsbook, up to the limits stated in the terms and conditions for each promo. When new sports betting sites launch, you are eligible to sign up for any bonuses they offer.

What are playthrough requirements?

Playthrough requirements stop you from taking a sportsbook bonus and walking away. These requirements prescribe exactly how many times you need to bet a bonus before you can make a withdrawal. After meeting any playthrough requirements attached to a bonus, anything you’ve won is yours.

What sports can I get bonuses & odds boosts for?

Sportsbooks offer you bonuses you can use to bet on any sport you like. The odds boosts they post may be sport-specific, but they always seem to have odds boosts surrounding whatever sports are in season. Check here for the best NBA betting promos, best NHL betting promos or latest NFL sportsbook promos, for example.

See more:

Best college football betting promos

How do I cash out bonuses or wins from bonus bets?

You cash out wins from bonuses or bonus bets the same way you would any other winning bet. Sportsbooks place all winnings in your account. Once you meet all the wagering requirements for a bonus or bonus bet, you can make a withdrawal request for any amount up to the total in your account balance.

See more: Fastest paying sports betting apps

Is there a maximum I can win from a sportsbook bonus offer?

The terms and conditions for any online sportsbook bonus will tell you if there’s a maximum win allowed. The terms will also list any odds restrictions or expiration dates.

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