7 Best March Madness Betting Promos: Bet $5, Get $200 Bonus + 10x Your First Bet
March Madness is almost here, and sports betting in the US doesn't get much better. 68 teams will enter the bracket and just one will remain standing after six rounds, giving us 67 games of competition, chaos, and of course, madness. Fun, fun, fun!
Online sportsbook across the country will be handing out their top March Madness betting promos to entice players to register for new accounts. We have them all right here.
Those March Madness sportsbook promo codes will unlock welcome bonuses that include bonus bets, first-bet insurance, deposit bonuses, or some combination of the three. What does this mean? It means you will be able to take advantage of free money and enjoy everything these great sports betting sites have to offer.
March Madness Betting Promos At a Glance
We’ll go over what these offers mean, what to expect from each of the major operators in the country, and how you can take advantage of these sportsbook promo codes just in time for the start of the 2023 NCAA Tournament. Selection Sunday will be March 12.
March Madness Betting Promos Explained
It’s important that new bettors always read the terms and conditions of any online sportsbook they’re considering signing up for. Read our Bookies reviews of each of the operators so you fully understand what you’re getting into when you use these offers. Here’s a quick look at what these welcome bonuses might entail:
A deposit match bonus doubles your dough before you ever place a bet. For example, if bettors deposit $200 in cash, they’ll receive $200 in site credit.
A first-bet offer means bettors who lose their first wager will receive site credit equal to that amount, giving them a second chance to get their bets correct. Lastly, some sportsbooks will hand out bonus bets once players place a real-money wager—and bettors receive the bonus bets regardless of the original wager’s outcome.
Almost always, any bonus bets that come out of these welcome bonuses will have a one-time playthrough requirement, so any winnings you earn off these bets can be redeemed as cash profit.
BetMGM March Madness Betting Promo
Bettors who register with the BetMGM bonus code BOOKIES will receive a first-bet bonus up to $1,000. It’s one of the most popular offers in the industry during March Madness, with bettors receiving cash profit if their first bet wins or bonus bets in return if that first wager loses.
It’s a win-win for all new players, who will also be able to take advantage of great One Game Parlays during March Madness that increase potential payouts.
Caesars Sportsbook March Madness Betting Promo
The largest potential offer on this board is the Caesars Sportsbook promo code BOOKIES. New players will earn first-bet insurance up to $1,250 simply for signing up.
Place a first real-money wager on any set of odds and earn cash profit with a victory or a matching bonus bet if that first wager loses. Either you’ve got cash in your pocket of you have a second chance to get your bets correct.
Caesars Sportsbook always has elite boosted odds on player and team props around March Madness, so check the “Boosts” section of the app and website to see what’s available to you once the games begin.
DraftKings March Madness Betting Promo
The easiest $150 in free bets you’ll ever earn starts with the DraftKings promo code offer. All bettors need to do is place a real-money wager of $5 or more and they’ll receive $150 in bonus bets—no matter the outcome of their original bet.
They can also double-dip on their original bet in addition to the six $25 bonus bets they receive.
DraftKings is also known for having elite odds boosts on the biggest markets of the sports night, so bettors can expect to see some great boosts during March Madness.
FanDuel March Madness Betting Promo
We all know there’s nothing more stressful than March Madness. Upsets are everywhere and wins can turn into losses in a heartbeat. But with the FanDuel promo code offer, bettors won’t need to worry about their first wager.
That’s because new players get 10x Back On Their 1st Bet Worth $200. Sign up, deposit and make a first wager. If your first wager is $5, your 10x bonus will be worth $50 in bet credits (and so on up to a $20 bet, which will be worth $200 in bonus bets). FanDuel is also known for having some of the best boosted odds in the industry, so you’ll want to see what’s available to you throughout March Madness.
PointsBet March Madness Betting Promo
One welcome bonus is good, but five of them is great. That’s the deal with the PointsBet promo code offer, which delivers five second-chance bets up to $50 each to new players. Your first bet of the day (for your first five days) receives insurance (up to $50), giving bettors the chance to grab $250 in second-chance bets.
That’s huge considering the first weekend of March Madness is four days long. No matter when and where you choose to place these bets, PointsBet is well worth your time.
BetRivers March Madness Betting Promo
Have you ever had your bracket busted by a certain team losing? That won’t happen with the BetRivers promo code offer.
When you register here, new bettors receive a second-chance bet up to $500. While that’s smaller than some of the other offers on the table, $500 should be enough to take care of most bettors’ needs. BetRivers is also known for having some of the best local odds in the entire industry, so see what’s available for the local teams in your state.
WynnBET March Madness Betting Promo
There’s a little bit more required to earn the WynnBET promo code offer, but it’s still a great deal. Bettors who place a $100 real-money wager will receive a $100 bets bonus—no matter what happens with their original wager.
It’s a great offer that also allows for players to potentially double dip on their original wager. At the very least, you’ve got $100 of bonus wagers back in your pocket to bet again.
How to Claim March Madness Betting Promos
No matter which operator you wind up going with (there’s no max), bettors will need to register for a new account before they start taking advantage of any of these offers. Luckily, it’s typically a simple process across the board. Follow these short steps and you’ll be betting in no time:
- Click the links on any of the online sportsbooks you’re considering using to begin your registration; if applicable, type in the promo code associated with the operator you’re using to unlock your welcome bonus
- Create your new account by providing the operator with your personal information to verify your identity; you’ll need to prove you are 21+ years old and located in a state where your sportsbook is legally operating in order to use these offers
- Place a qualifying deposit to fund your brand-new account and start placing your bets
Where is March Madness Betting Legal?
Not all states allow for collegiate sports betting. There are some stipulations, with certain states prohibiting wagers on in-state colleges and games played in that specific state. Here’s a list of states where online sports betting is legal on all games:
- Arizona
- Colorado
- Connecticut
- Illinois
- Indiana
- Iowa
- Kansas
- Louisiana
- Michigan
- New Hampshire
- New Jersey
- New York
- Pennsylvania
- Tennessee
- Virginia
- West Virginia
- Ohio
