Caesars Sportsbook Promo Code NYPNEWS1000: Earn $1K first bet for any game

Caesars Sportsbook promo code NYPNEWS1000 unlocks a $1,000 first bet on the house, meaning if your first wager on the platform loses, you’ll be refunded in bonus bets equal to whatever you lost.

This promo can be used on any game, but it must be your first wager on the platform, and you must place the bet within 30 days of creating your account. If your bet loses, you’ll have 14 days to use the bonus bet.

Let’s look at an example from Tuesday’s college basketball slate. Say you deposit $200 and bet it on Virginia moneyline against Memphis at +140.

If UVA wins, you profit $280 ($200 x 1.4) and you keep your $200 wager. You’ll now have $480 in your account, and you can keep betting it or withdraw it. The promo is over.

If UVA loses, you’ll get back a $200 bonus bet.

You’ll then have to wager that bonus bet to turn it into cash that can be withdrawn. The big downside to this offer is that the bonus bet comes back in one lump sum — it can’t be split across a bunch of games. So if you put in $1,000 and lose your first bet, you’ll only have one chance to make that money back.

Pretend UVA loses and I get back a $200 bonus bet. I put it all on Northwestern to beat Utah on Saturday in college football action (that’s fine, because it’s within the 14-day window).

• If Northwestern wins, I profit $400 in cash, but I don’t keep the bonus bet itselft. I now have $400 cash in my account following a $200 deposit, and I can withdraw that or keep betting.
• If Utah wins, I’ll have $0 left in my account.

1. You can use the first bet offer on any game, but it must be within 30 days of creating your account, and it must be your first wager on the platform. You can’t choose a certain bet to get the insurance treatment after you’ve already been betting at Caesars
2. If you lose your first bet, you have 14 days to use your bonus bet or else it expires.
3. Your bonus bet comes in one big sum, and you can’t spread it out across several bets like you can at some other sportsbooks (like FanDuel Sportsbook).
4. Caesars is available in AZ, CO, IA, IL, IN, KS, LA, MA, MD, ME, MI, NJ, NY, OH, PA, TN, VA, WV, or WY. It’s also in Nevada, but it’s a different platform and requires in-person signups, so this offer isn’t available.