Best sportsbook promos and top bonus offers today

On this page, we'll break down the best sportsbook welcome promos from a collection of the top sportsbooks. FanDuel, DraftKings, Fanatics, BetMGM, Caesars and bet365 all offer valuable bonus bets, and we'll explain how each one of their offers works and how to claim them.

Sportsbooks are boosting offers for MLB season and the playoff runs for the NBA and NHL. For those interested, it's a great time to claim welcome bonuses.

Best sportsbook promos today

Every sportsbook tries to attract new users with a welcome promo. Here's a table with the best welcome promos from around the industry, followed by a deeper breakdown of each one.

Sportsbook	Bonus offer	Promo code
FanDuel	Bet $5. Get $250 in bonus bets if you win	No code required
DraftKings	Bet $5, Get $200 in bonus bets instantly	No code required
BetMGM	Up to $1,500 in bonus bets back if your first bet loses	CBSSPORTS
Fanatics	Bet and Get up to $1,000 in No Sweat Bets	No code required
bet365	Bet $5, Get $150 in bonus bets win or lose	CBSBET365
Caesars	Bet $1, double your winnings your next 10 bets	CBSDYW

Three best sportsbook promos for existing users this week

DraftKings NBA Playoffs No Sweat: Get a No Sweat Token to be used on an NBA bet every week of the playoffs. If the bet you apply your No Sweat Token to loses, DraftKings will credit your bet back as a bonus bet.
BetMGM NBA Second Chance: For every game of the NBA playoffs, if the player you bet on to score the game's first bucket instead scores second, you will get your bet paid back in cash at BetMGM.
Fanatics Fair Play for NBA Playoffs: Expanded from injuries in the first quarter to now injuries in the first half; player prop bets will either get refunded in cash or settled as a win. If it's part of a parlay, the rest of your bet will still play out. Any bet settled before the injury will stand.

DraftKings Sportsbook promo code

DraftKings Sportsbook has a great promo for new users interested in signing up. Plus, no DraftKings promo code is required during registration. Just click the links on this page to get started.

After registration, new DK users will get $200 in bonus bets instantly after a first deposit of at least $5 and a first wager of at least $5. It does not matter if your first wager wins or loses; the bonus bets are yours. There are no minimum odds required for your first bet. It just has to be at least a $5 wager.

The bonus bets are received as eight $25 bonus bet tokens and must be wagered 1x before any winnings can be withdrawn. DraftKings bonus bets expire after seven days and only pay a profit (a $25 bonus bet at +100 odds pays out $25, not $50). Bonus bets are not redeemable for cash, transferable, or refundable.

This welcome offer is ideal for those who want to try betting without making a large initial deposit or wager. It only requires a $5 bet to unlock the bonus bets and explore everything DraftKings Sportsbook offers.

DraftKings promo: Age and location requirements

To claim this sportsbook promo, you must be at least 21 years old and present in AZ, CO, CT, DC, IA, IL, IN, KS, KY, LA (select parishes), MA, MD, ME, MI, NC, NJ, NY, OH, PA, TN, VA, VT, WY, or WV (18+ DC/KY/NH/WY).

DraftKings Sportsbook highlights

Bonus offer: Bet $5, get $200 in bonus bets instantly
Best feature of the sportsbook: Daily promos for both new and existing users as well as frequent odds boosts
App Store rating (and # of reviews): 4.8 out of 5 stars (830k reviews) as of April 2025
Google Play rating (and # of reviews): 4.3 out of 5 stars (168k reviews) as of April 2025
Payout speed: Less than two hours for online banking via Trustly, Apple Pay, PayPal, debit card, and Venmo

FanDuel Sportsbook promo code

FanDuel Sportsbook is offering $250 in bonus bets to new users who win their first bet of at least $5. No special FanDuel promo code is required to claim this offer. Just click the links on this page and sign up for a new account.

After registering, new FanDuel users must deposit at least $5, opt into the offer under 'Promos,' and place a winning bet of at least $5 to receive $250 in bonus bets. To make things easier, there are no minimum odds for a winning bet to unlock the bonus bets. So we recommend finding a big favorite to increase your chances of winning.

You must play through the bonus bets once before you can withdraw any winnings. Bonus bets only pay out profit and do not include the original amount of the bonus bet. For example, a $150 winning bonus bet at +100 odds pays out $150, not $300. Bonus bets expire after seven days.

FanDuel promo: Age and location requirements

You must be 21+ (18+ D.C.) to get this promo and be present in AZ, CO, CT, DC, IA, IL IN, KS, KY, LA (select parishes), MA, MD, MI, NC, NJ, NY, OH, PA, TN, VA, VT, WV, or WY.

FanDuel Sportsbook highlights

Bonus offer: Bet $5, get $250 if your first bet wins
Best feature of the sportsbook: Biggest same-game parlay catalog in our experience
App Store rating (and # of reviews): 4.9 out of 5 stars (1.7 million reviews) as of April 2025
Google Play rating (and # of reviews): 4.7 out of 5 stars (367k reviews) as of April 2025
Payout speed: Less than two hours for debit card, online banking via Trustly, Venmo, and PayPal

BetMGM Sportsbook promo code

New users of BetMGM can sign up using the BetMGM promo code CBSSPORTS to unlock a welcome offer with a huge potential maximum benefit. The promo will return up to $1,500 in bonus bets if your first bet loses. If you win, get paid out in cash like any other bet.

The minimum deposit for this offer is $10, and any bonus bets added to new user accounts expire after seven days. Keep in mind, too, that bonus bets do not work the same as cash bets. A winning $1,500 bonus bet at +100 odds pays out $1,500; a winning $1,500 cash bet at +100 odds pays out $3,000. This is why we like to remind new users winning bonus bets only pays out profit. However, BetMGM bonus bets only have a 1x playthrough before the funds can be withdrawn.

BetMGM promo: Age and location requirements

You must be at least 21 years old to use this BetMGM promo code and must be physically located in NC, NJ, IN, WV, DC, CO, PA, MI, IA, AZ, LA (select parishes), TN, IL, VA, MD, MS, WY, MA, KS, OH, or KY.

BetMGM Sportsbook highlights

Bonus offer: Up to $1,500 in bonus bets if your first bet loses
Best feature of the sportsbook: A few deposit bonuses (e.g., offering 25% bonus on top of a deposit for up to $100 with only a 1x playthrough requirement) per year, though eligibility varies
App Store rating (and # of reviews): 4.8 out of 5 stars (232k reviews) as of April 2025
Google Play rating (and # of reviews): 4.3 out of 5 stars (35k reviews) as of April 2025
Payout speed: Less than two hours for Visa debit (BetMGM lists MasterCard debit processing time as slower), Apple Pay, PayPal and Venmo

Caesars Sportsbook promo code

The latest Caesars Sportsbook promo code offers a series of profit boosts for new users, who can use the Caesars bonus code CBSDYW, which will provide 10 100% profit boosts after placing a qualifying offer of $1 or more.

Profit boost tokens expire after 14 days, and individual tokens can't be split across multiple bets. The maximum wager for a bet using a profit boost token is $25, while $2,500 is the maximum in additional winnings for each token.

Caesars promo: Age and location requirements

To use this promo code, you must be 21+ and physically present in AZ, CO, IL, IN, IA, KS, KY, LA (select parishes), ME, MD, MA, MI, NJ, NY, NC, OH, PA, TN, VA, WV, WY or Washington, DC.

Caesars Sportsbook highlights

Bonus offer: Bet $1, double your winnings on your next 10 bets
Best feature of the sportsbook: Bet and get entries for huge sweepstakes prizes, such as an NFL drawing featuring prizes like tickets to the game, viewing parties, bonus bets, and gift cards (Caesars Sportsbook users received an entry for every 25 Tier Credits earned)
App Store rating (and # of reviews): 4.7 out of five stars (84k reviews) as of April 2025
Google Play rating (and # of reviews): 4.5 out of five stars (30k reviews) as of April 2025
Payout speed: Less than two hours for online banking, debit, Apple Pay, PayPal and Venmo

Fanatics Sportsbook promo code

The Fanatics Sportsbook promo code provides new users an offer of Bet and Get up to $1,000 in No Sweat Bets. No bonus code is required to secure the welcome offer. Just click the links in the banners on this page to begin registration.

The offer is a No Sweat Bet up to $100 each of the first 10 days your account is open, for a maximum potential value of $1,000 in No Sweat Bets. Opt into the offer each day and find the No Sweat Bet option in your bet slip. If any No Sweat Bet loses, you receive a bonus bet of the same value up to $100. But any winning No Sweat Bets are paid out in cash.

Users must deposit at least $5 to get started with Fanatics, and only bets with minimum odds of -200 count toward the No Sweat Bets promotion. Only one wager per day applies to the sign-up promotion. Any bets beyond the first made after opting in each day will not be included in the No Sweat Bet offer. Bonus bet amounts are non-withdrawable and winnings exclude bonus bet stake. They have a 1x playthrough requirement, and bonus bets expire after seven days.

The Fanatics Sportsbook promo code is great for new users who would like the chance to win some money but also earn bonus bets. You can get bonus bets back with this promo plus with the No. 1 rewards program, in our opinion, as FanCash Rewards earns users bonus bets faster than any sportsbook that we have encountered.

Fanatics Sportsbook promo: Age and location requirements

Users must be 21+ and present in AZ, CO, CT, DC, IA, IL, IN, KS, KY, LA (select parishes), MA, MD, MI, NC, NJ, OH, PA, TN, VT, VA, WV, or WY.

Fanatics Sportsbook highlights

Bonus offer: Bet and Get up to $1,000 in No Sweat Bets
Best feature of the sportsbook: FanCash Rewards
App Store rating (and # of reviews): 4.8 out of 5 stars (104k reviews) as of April 2025
Google Play rating (and # of reviews): 4.7 out of 5 stars (22k reviews) as of April 2025
Payout speed: Less than two hours for online banking, debit, Apple Pay, PayPal and Venmo

bet365 Sportsbook promo code

The bet365 promo code CBSBET365 comes with a welcome offer similar to what you will find at DraftKings (with a smaller bonus amount). New users can sign up with that sports betting bonus code, deposit at least $10, and place a first bet of at least $5 to secure $150 in bonus bets. The bonus bets are credited to your account after your first bet of $5 or more settles, win or lose.

After you click one of the bet365 links on this page and register with the CBSBET365 promo code, opt into the welcome offer under Promos. Deposit and bet at least $5 on anything you'd like. You can use the $150 in bonus bets all at once or split the bet credits up however you want. You will be able to apply them to your bet slip. Just note bonus bets expire after seven days, and the stake is never included in the winnings from bonus bets. Therefore, a $100 winning bonus bet at +100 pays out $100, not $200 like a cash wager.

This promo is great for novice sports bettors who want to try out sports betting and bet365 without having to risk a large amount of money. The low minimum deposit and receiving the bonus bets regardless of the outcome of your first bet give you a chance to explore the app and potentially win money as well.

bet365 promo: Age and location requirements

You must be 21+ only (18+ in KY), and the offer is available in AZ, CO, IA, IN, KY, PA, LA (select parishes), NC, NJ, OH, and VA.

bet365 Sportsbook highlights

Bonus offer: Bet $5, get $150 win or lose
Best feature of the sportsbook: Early win payouts (which typically allow money line bets to settle early if a certain lead threshold is reached) and each-way betting (allowing users to increase/decrease potential payout by removing/adding positions in win outright and top-five or 10 type of markets)
App Store rating (and # of reviews): 4.8 out of 5 stars (171k reviews) as of April 2025
Google Play rating (and # of reviews): 4.6 out of 5 stars (30k reviews) as of April 2025
Payout speed: Less than two hours for online banking, debit, PayPal and Venmo

Types of sportsbook bonuses

Beyond the welcome bonus, sports betting apps offer several other types of promotions. Here are some of the most common ones you'll find

Sign-up bonus

These are your welcome promotions. The promotions that betting apps use to try and attract new users. You can only claim a welcome bonus with each sportsbook once, and it's usually the best offer it will have.

Sign-up bonuses generally come in one of two styles (though a couple of sportsbooks are starting to feature more unique welcome offerings), a "bet and get" or "first-bet insurance." With the "bet and get", you usually can make a small wager for $5 or $10 and then receive bonus bets after that initial wager settles. Sometimes you need to win your first bet to receive the bonus bets, other times you'll get them regardless of how your bet settles. You'll either be given free rein over your bonus bets to use them as you see fit, or you'll be given some division of bonus bet tokens equal to the total amount.

First-bet insurance works a little differently, and it's geared more towards bigger players. With this type of welcome bonus, You'll be able to place a first bet of up to $1,000 or $1,500 and get the amount back as a bonus bet if it loses. Sometimes you'll get it back as one lump sum to be used on one additional bet, and other times you'll get a division of bonus bet tokens equal to the amount of your initial bet.

The maximum bonus bet value is generally larger with the first-bet insurance type of welcome bonus, but you need to actually wager the maximum amount to achieve that value.

Occasionally, sportsbooks will stray from the norm and offer unique welcome bonuses. For example, Caesars recently ran a promo that offers new users 10 100% profit boost tokens after a first bet of at least $1.

Deposit match

Deposit matches are few and far between across the sportsbook industry, but you will occasionally come across them. When a sportsbook offers you a deposit match bonus, it means they'll match a percentage of any deposit you make (up to a given amount) in bonus bets. For example, if you choose to deposit $50 into a sportsbook running a 50% deposit match promotion, it will add an additional $25 in bonus bets to your bankroll.

Odds boosts and profit boosts

Odds boosts and profit boosts are both promotions that will add more to your potential winnings, usually on parlays. Odds boosts work on the front end. For example, if you place a four-leg parlay with +400 odds and add a 50% odds boost to it, your odds will increase to +600. If you wagered $100 on that parlay, you'd win $600 instead of $400. Profit boosts work very similarly, except they're applied to your winnings and not your odds. If you wagered $100 on a bet with +100 odds, you'd win $100 in profit. With a 50% profit boost token, however, your profit would increase to $150.

Same-game parlay insurance

This type of promotion usually applies to parlays of at least four legs. If you apply same-game parlay insurance to a four-leg parlay and only three of the legs hit, you'll still receive your initial stake back. For example, let's say on an NFL Sunday, you parlayed the money lines of the Chiefs, Bills, Bengals and Ravens, and placed $100 on that parlay. If only the Chiefs, Bills and Bengals win, but the Ravens lose, you'd still get the initial stake of $100 back.

Referral bonuses

Many sportsbooks have a referral program. If a friend signs up with the sportsbook using your referral link and then makes a minimum deposit and places a minimum wager, you can both get rewarded in bonus bets. Every sportsbook has slightly different terms and conditions for how exactly a referral bonus is applied.

Rewards or loyalty programs

In general, the more you bet with a sportsbook, the more loyalty points you'll receive. These loyalty points can be redeemed for bonus bets and other prizes. Fanatics has one of the more unique loyalty programs called "FanCash", where you can redeem your FanCash for Fanatics merchandise.

BetMGM and Caesars are known for having two of the best loyalty programs in the industry. If you're a big player with one of those sportsbooks, you can redeem your rewards for resort stays, restaurant tokens, or other events and Caesars or MGM locations around the country.

Terms and conditions explained

Every sportsbook has its own terms and conditions applied to its welcome promos and other promos, but here is a general list of what each of these terms refers to.

Age and location requirements: In most states, you need to be 21 to place a bet with an online sportsbook, however, the minimum age is 18 in New Hampshire, Wyoming, Rhode Island, Oregon and Washington, D.C.. Each sportsbook can also only be accessed in the states where it operates, and not every sportsbook operates in every legal state
Playthrough requirement: You can't just receive bonus bets and withdraw them as cash, as sportsbooks will all require you to bet through them at least once. The playthrough requirement refers to how many times you need to wager through the bonus bets to withdraw your winnings.
Minimum deposit: The minimum amount you must deposit into your sportsbook account to access the welcome promo
Minimum wager and odds: Many sportsbooks require a wager of at least $5 to access the welcome promo. Some sportsbooks have the minimum wager set as high as $10 while others have it as low as $1.

In some cases, sportsbooks may also require minimum odds for your qualifying bet. For example, -500 or longer.

Bonus bet expiration: When you're awarded bonus bets by a sportsbook, they don't last forever. They generally last seven days before they expire, but sometimes you'll have a longer or shorter time to use them.

Sportsbooks may also require you to claim the bonus within a certain amount of time after creating an account.

Sportsbook promo review criteria

When we're evaluating how good a sportsbook's welcome promo is for new users, we look at a lot of the terms and conditions listed above. Did the sportsbook implement the terms and conditions in a generous or restrictive way?

Maximum bonus value: What is the highest amount of bonus bets you can get if you maximize the value of the promotion?
User investment: How much do you need to deposit and wager to claim the bonus bets? How much do you need to wager to get all of the available bonus bets?
Playthrough requirements or odds restrictions: Is there more than a 1x playthrough restriction? Is there an odds minimum on the initial bet you need to place to activate the promo? If so, how restrictive does that make this promo? Does your bet need to win to be rewarded with bonus bets?
Bonus expiration: Are you offered the standard seven-day period to use your bonus bets or does the sportsbook give you a longer or shorter time?
Extra perks: Is there anything extra added to the welcome bonus? For example, FanDuel and DraftKings have offered trials of NBA and NFL streaming services to their welcome bonuses at the beginning of the NBA and NFL seasons. Other perks might include bonus spins at the brand's online casino or loyalty or rewards points with the brand

Special promos and bonuses by sport

Sportsbooks will offer plenty of profit boosts and same-game parlay promos tied to big games happening in the sports world, but there are also sport-specific promos that can't be universally applied to any sport.

A great example of this is FanDuel's "Dinger Tuesdays." This promotion is for baseball. The way it works is if you place a straight bet of at least $25 on a game of baseball, you'll get $5 in bonus bets for every home run hit in that game (with a maximum of $25 in bonus bets).

Football and hockey also have a common promotion between them, usually referred to as "first touchdown" or "first goalscorer" insurance. If you place a bet on Travis Kelce to score the first touchdown in a Chiefs game or Alex Ovechkin to score the first goal in a Capitals game, the odds are generally long and the payouts are favorable. That's because it's rare to hit on one of these bets. With the insurance promotion though, if Kelce or Ovechkin score a touchdown or a goal at any point in the game (after the first is scored), you'll get your initial stake back.

Sportsbook promos FAQ

What are the most common sportsbook bonuses?

Sportsbooks are most commonly known to offer bet-and-get bonuses, first-bet insurance and deposit matches. The occasional no-deposit bonus is also available, but it is fairly rare.

What is the best welcome bonus at a sportsbook?

This depends on the type of bonus you prefer. Those looking for sign-up bonuses will prefer DraftKings or bet365. Those looking for first bet offers will prefer BetMGM or Fanatics.

Are sportsbook bonuses worth it?

If users can be strategic in their usage, bonuses are a good way to get more out of wagers. Instances of sportsbooks limiting bet size on bonuses to some existing users have taken place across regulated sportsbooks. Welcome bonuses are the same for everybody, but maximum bet size for other bonuses vary by user. Sportsbooks can decide to lower how much any user can wager on the bonuses they offer.

Can you claim more than one sportsbook bonus?

Yes, but not from the same sportsbook. In other words, you can sign up for different sportsbooks and claim the welcome bonus from each one.

What are bonus bets?

Bonus bets are credits given out as part of sports betting promotions. They are essentially non-withdrawable betting credits you can use to place wagers.

What is first-bet insurance?

First-bet insurance, sometimes called a second-chance bet, is a bonus type that refunds your first wager if it results in a loss. The refund has a maximum, and it comes in the form of bonus bets.

Which sportsbook has the best bet and welcome bonus?

This is probably DraftKings, which offers a $200 incentive in bonus bets that is not contingent upon the initial bet winning, although users still have to deposit at least $5.

What are the best sportsbook promotions for existing bettors?

There are plenty of promotions for existing users, so it comes down to preference. Profit boosts and odds boosts are popular, and they can both significantly increase your winnings.