Best March Madness Bonuses & Promos

March Madness is one of the biggest sporting events annually from a fanfare and betting perspective. Regarding the latter, many  roll out their best bonuses for this famed college basketball tournament.

That said, the Big Dance is here. If you want to score some great March Madness bonuses, check out our eight offers below. These deals provide hundreds of dollars in bonus funds, while one even offers up to $1,250. What’s more, is that all of these bonuses come from the industry’s best online sportsbooks. 

Top March Madness Bonuses For Round of 64

First-round action began Thursday and continues on March 17 with another full slate of games.

Some of the March Madness betting offers we’ll cover are only available before or during the first round. Therefore, the time is now to scoop the best tournament bonuses — or at least begin your search. After all, some of these promotions will be available up until April 3 (Championship game). When browsing the following list, remember that these bonuses come from reputable betting sites that score well in our reviews.

Best March Madness Betting Promos At A Glance

BetMGM March Madness Promo: Bet $10, Get $200 in Bonus Bets

Exclusive to Gambling.com readers,  is offering a Bet $10, Get $200 promotion (a.k.a. “March Matchups”). You use code GAMBLINGMARCH and place your first bet worth $10 (or more) on a tourney team to qualify. BetMGM will then give you four bonus bets worth $50 apiece (4x$50). 

You can also enter a free bracket contest before the first game on March 16. First place wins $100,000, while a perfect bracket nets $10 million.

Wagering requirements

The wagering requirements (a.k.a. rollover) and other important terms for this deal are as follows:

• $10 minimum deposit & $10 minimum bet.
• Bonus bets pay winnings minus the stake.
• 1x wagering requirements on bonus bet winnings.
• Promo is available from now until April 3.

How to Claim the Offer

You can claim BetMGM’s March Matchups bonus through the following steps:

1. Visit this sportsbook through our link.
2. Register and use code GAMBLINGMARCH.
3. Make a first deposit worth $10+.
4. Wager at least $10 on a tournament team.

Bet365 March Madness Promo: Get $365 in Bonus Bets

Bet365 offers the best low-roller bonus of the March Madness betting season. It’s giving out $365 in bonus bets for just a $1 wager on the “First Four.” Aside from betting $1, you must also use code GAMBLING and enter the  Bracket Challenge (free). 

Wagering requirements 

You can see the terms for this Bet $1, Get $365 bonus below:

• $10 minimum deposit.
• $1 minimum bet on a First Four game (March 14 & 15).
• Must enter the Bracket Challenge (free).
• Promo lasts until the last First Four game on March 15.

How to Claim the Offer

You can get this deal by following the steps below:

1. Visit Bet365 and register using promo code GAMBLING.
2. Deposit $10 or more.
3. Wager $1+ on any First Four game.
4. Enter the Bracket Challenge by making your college basketball picks.

DraftKings $200 Bonus Spices Up Your First Round Betting

DraftKings has a Bet $5, Get $200 deal going on from now until March 19. In other words, you wager $5 and the  will give you $200 in bonus bets. The latter come in the form of eight bonus wagers worth $25 apiece. Therefore, you can spread the bonus funds out and enjoy yourself.

Wagering requirements 

Notable terms and conditions on this deal are as follows:

• $5 minimum first-time deposit.
• $5 minimum first bet.
• Bonus bets delivered as eight $25 wagers (8x$25).
• 1x rollover on winnings from bonus wagers.

How to Claim the Offer

The DraftKings March Madness promo is available through the following steps:

1. Visit this betting site through our link .
2. Register & deposit at least $5.
3. Place a $5 first wager or more.
4. Promo lasts from now until March 19, 2023.

Caesars March Madness Betting Promo Code “GAMBLINGFULL” - Get a $1,250 Bonus

The  has the biggest promotion on this list. It’s offering up to $1,250 in first bet insurance, along with 1,000 TIER CREDITS and 1,000 REWARD CREDITS®. You can qualify by registering with code GAMBLINGFULL and betting at least $10. If your first bet loses, you’ll receive a matching refund (bet credit) worth up to $1,250.

Wagering requirements 

Important terms and conditions on this deal are as follows:

• $10 minimum first deposit & $10 minimum first wager.
• Receive a matching bet credit if your first wager loses.
• 1x rollover on winnings from the bet credit.
• Bonus available from now until April 3.

How to Claim the Offer

Here are the steps to qualify for this bonus:

1. Visit Caesars and register with code GAMBLINGFULL.
2. Place a $10 minimum deposit.
3. Bet at least $10.
4. Receive a bet credit worth up to $1,250 if you lose.
5. 1x wagering requirements on winnings from bet credits.

FanDuel First Round Promo - 10x Your First Bet Up to $200

FanDuel wants to give you bonus bets worth 10x your first bet up until March 19. You just need to wager at least $5 before the 19th to qualify. If you place a first-time wager worth $10, for example,  will deliver $100 in bonus wagers. The maximum amount of bonus bets available is $200 for a $20 first wager.

Wagering requirements 

Rollover and other notable terms for this bonus are as follows:

• $10 minimum deposit.
• $5 minimum first bet.
• Any sport is eligible for the first wager—not just March Madness basketball.
• Promo is available until March 19, 2023.
• The bonus bets arrive in your account within 72 hours.
• 1x rollover on winnings from bonus wagers.

How to Claim the Offer

Here’s how to pick up this 10x bonus:

1. Visit FanDuel through our link .
2. Deposit $10 or more.
3. Place a $5 bet or larger.
4. Collect bonus bets worth $10 your first wager up to $200.

Unibet March Madness Promo - $500 First Bet Insurance for First Round

has a special offer exclusively for Pennsylvania March Madness bettors. It’s currently providing up to $500 in first-bet insurance from now until April 3. You can use code MARCH and deposit at least $10 to qualify. Assuming you lose a first bet worth $10 or more, you’ll be reimbursed with up to $500 in bonus funds.

Wagering requirements 

Here are the T&Cs for this March Madness betting promo:

• $10 minimum first deposit & $10 minimum first wager.
• Promo lasts until April 3.
• 1x wagering requirements on bonus funds.
• Bonus bet must be placed at -300 odds or greater (e.g., -225, -150).
• Bonus wager has an expiration date of 30 days.

How to Claim the Offer

You can get this bonus through the steps below:

1. Be within Pennsylvania’s boundaries.
2. Visit Unibet via our link MARCH.
3. Register and use code MARCH.
4. Deposit at least $10.
5. Make a first bet worth $10+.

Betway March Madness Bonus - $250 Bonus for First Round

Betway is another top-tier online sportsbook that’s getting into the spirit of March Madness bonuses. It’s offering up to $250 in bonus bets to anybody who loses their first wager. You can get in on the action by visiting the  and depositing at least $10. From here, you just need to bet $10 (or more) and see if you win or lose. In the latter case, you’ll receive up to $250 in bonus wagers.

Wagering requirements 

Notable T&Cs on this deal include: 

• $10 minimum deposit (no min. bet listed).
• First wager must be at -300 minimum odds or better (e.g., -240, -135).
• Your first bet needs to settle within 7 days.
• Bonus funds must be used within 7 days of receiving them.
• 1x rollover on bonus bet winnings.
• You have to opt-in to this promo.

How to Claim the Offer

You can follow the steps below to cash in on this deal:

1. Go to Betway through our link .
2. Opt-in to this promotion.
3. Make your first wager at -300 minimum odds (or better).
4. Bonus available until April 3, 2023

Ends: 09/05/23. Must be a new verified Betway patron. 21+. Opt-in may be req’d. Make your first min. deposit of $10+, place a wager up to $250 (with odds of at least –300 (1.33)) and receive up to $250 as bonus bet funds if the wager loses. Wager must be settled within 7 days from new account opening. Qualifying wager restrictions apply. Any bonus bet funds earned must be used within 7 days of receipt. Bonus bet funds are not the same as cash, must be used in the Sportsbook, and are subject to restrictions. Promo subject to full T&C’s us.betway.com/sport/bonus-terms. Gambling problem? Call/text 1-800-GAMBLER.

PointsBet March Madness Bonus - 5x$50 in Second Chance Bets

PointsBet rounds out our list of betting sites with special March Madness bonuses. It’s offering up to $250 in Second Chance Bets over your first five days. 

You’re eligible for a Second Chance Bet up to $50 for each of these days (5x$50) at the . If you bet and lose $50 on the third day, for example, you’ll receive a $50 Second Chance Bet. We suggest placing at least one wager each day so that you’re eligible for all five Second Chance wagers.

Wagering requirements 

Here are the noteworthy T&Cs on this bonus:

• Each of the first five days offers a Second Chance Bet worth up to $50.
• $10 minimum deposit.
• $0.50 minimum bet (per day).
• Second Chance Bets expire if not used within 7 days.
• Offer runs until April 3, 2023

How to Claim the Offer

You earn this deal through the steps below:

1. Visit PointsBet through our link .
2. Deposit $10 or more.
3. Bet at least $0.50 on any or all of your first five days.
4. The first losing daily wager delivers a Second Chance Bet up to $50.

States Where You Can Legally Bet on March Madness Round of 64

You can enjoy first round March Madness betting in plenty of states throughout the US. In fact, well over two dozen states have legalized and regulated online sportsbooks. Subsequently, these jurisdictions offer licensed and reputable college basketball betting sites. 

You can take comfort in wagering at regulated sportsbooks, which must adhere to each state’s licensing standards and laws. The following state let you legally bet on your March Madness favorites at reputable online sportsbooks:

• Arizona
• Arkansas
• Colorado
• Connecticut
• Delaware
• Illinois
• Indiana
• Iowa
• Kansas
• Louisiana
• Maryland (recently legalized sports betting)
• Massachusetts (recently legalized)
• Michigan
• Mississippi
• Montana
• Nevada
• New Hampshire
• New Jersey
• New York
• Ohio (recently legalized)
• Oregon
• Pennsylvania
• Rhode Island
• South Dakota
• Tennessee
• Virginia
• Washington DC
• Washington
• West Virginia
• Wyoming

Why Sign Up with The Top Sportsbooks? 

All of the betting sites covered here have minor differences from each other. However, they share similarities regarding reputation, betting markets, promotions, and customer support.

You can choose any online sportsbook here and find a reputable operator with great customer service. Furthermore, you’ll have access to plenty of promotions and bet types. The latter is key during March Madness betting because more betting options keeps things entertaining.

You can enjoy even more March Madness bonuses by checking out our . Gambling.com works hard to scour various online sportsbooks and find the hottest basketball tournament deals.

FAQ

The Houston Cougars (31-3) are the current March Madness favorite at many betting sites with +500 odds. The Alabama Crimson Tide (29-6) aren’t far behind with +550 odds at most sportsbooks.

Yes, most US online sportsbooks offer Android and iOS apps for March Madness gambling. If a US betting site doesn’t have an app, it’ll at least provide browser-based mobile wagering. In this case, you use your mobile browser to place bets.

Various locations will host first round games for the 2023 March Madness tournament. These sites include Legacy Arena (Birmingham, AL), Wells Fargo Arena (Des Moines, IA), Amway Center (Orlando, FL), Golden 1 Center (Sacramento, CA), and MVP Arena (Albany, NY).

There are many low seeds in March Madness 2023, but we only see a handful of Cinderellas that could make a deep run. Our favorite Cinderellas include Oral Roberts, Drake, USC, Iona, and NC State.

In 1977, Marquette coach Al McGuire was asked why he wore a blue blazer to the game. McGuire responded, “You gotta wear the blue blazer to the big dance.” This tournament nickname has since become almost as iconic as March Madness.