Best March Madness Betting Promos: NCAA Tournament Bonuses

When looking for a good March Madness betting promotion, consider the following:

• Bonus Type: There are different types of bonuses, including “bet and get” offers and “no sweat” bonuses. Some offers give you bonus bets for wagering a small amount of money, which is essentially free money to use at the sportsbook. The second type gives you a bonus bet only if your first wager loses, so it’s more like a refund. Both types can only be used at the sportsbook, but any cash winnings you receive from the bonus bets can be withdrawn.
• Eligibility: Many promotions are only available to new customers who haven’t signed up for that specific sportsbook before, while others are geared toward existing customers. You may need to be present in a certain state or over the legal gambling age to access a promotion.
• Wagering Requirements: To qualify for a promotion, your wager may need to meet specific criteria. It may need to be a certain amount (i.e., at least $5) or over a certain odds threshold. Some promotions may also require you to “opt-in” to them to take part, so be sure to check beforehand.
• Minimum Odds: Some promotions may have a minimum odds requirement to prevent customers from betting on heavy favorites with their qualifying wager. If the minimum odds are -200, for example, you can bet on a market with -150 odds but not -250 odds.
• Validity Period: The amount of time that a bonus is valid for. A bonus bet is usually valid for a week or so before it expires and is removed from your account, so make sure to use it before then.
• Market Restrictions: Some betting markets may be off-limits for a promotion. For example, you may only be able to wager on specific games or place your bet during a certain time period. When it comes to March Madness betting, some states don’t allow college prop markets, so those bets might not be eligible for a promotion. The promotion itself won’t change if you’re located in a state where college prop bets aren’t legal, just the amount of betting markets available.
• Maximum Win/Bonus Cap: Some bonuses have a limit on the amount of money you can win with them. These protect the sportsbooks from heavy losses on bets with long odds like parlays.
• Bet Type Restrictions: Some promotions only allow certain bet types, like straight bets or pre-game wagers. Certain bet types, like same-game parlays or futures, may not be eligible, especially if you need to wait for your bet to settle to receive your bonus.

Here are some of the best March Madness promos to check out.

DraftKings Sportsbook launched in the U.S. in 2018 and has since become one of the nation’s premier mobile sportsbooks.

New customers who sign up for DraftKings can earn $150 in bonus bets by wagering $5.

To receive the promotion:

• Sign up for DraftKings Sportsbook using this link
• Deposit at least $5 in your account
• Bet at least $5 with your first wager on any sports market
• Win or lose, receive $150 in bonus bets (six $25 bets) instantly
• Bonus bets are valid for seven days

With so many games going on at once, having that many bonus bets will be helpful whether you’re making straight bets or building a parlay.

To create an account, you’ll just need to provide the sportsbook with some basic personal information and the last four digits of your social security number.

Once that’s confirmed, make a $5+ deposit and wager $5+ on anything you want to claim your bonus bets. This promotion is valid until 11:59 p.m. ET on April 14, 2024, so it runs for the entire tournament.

No DraftKings promo code is needed for this promotion.

FanDuel Sportsbook is one of the biggest names in sports betting in the U.S. Luckily for bettors, it’s offering an equally big sign-up bonus, as new customers will receive $200 in bonus bets if they win their first $5+ wager.

Here’s how to redeem the offer:

• Sign up for FanDuel using this link
• Deposit at least $10 in your account
• Bet at least $5 with your first wager on any sports market
• If your wager wins, you’ll receive $200 in bonus bets within 72 hours
• Bonus bets are valid for seven days

No promotion code is needed, and the offer runs until 11:59 p.m. ET on April 8 – the day of the NCAA Championship Game.

Since you need to win your first wager to your bonus bets, bet on a favorite with minus odds to improve your chances.

A top name in the North American gaming scene, Caesars Sportsbook has a mobile sportsbook built around prestige and generous rewards.

That model is evident in the sportsbook’s March Madness promotion, as its sign-up bonus gives new users a bonus bet up to $1,000 if their first wager doesn’t win.

New users should use the code FORBES1000 when signing up.

To receive the promotion:

• Sign up for Caesars using this link using the promo code FORBES1000
• Deposit funds into your account and make your first wager within 30 days of opening your account
• If your first bet loses, you’ll receive a bonus bet equal to the amount of the wager up to $1,000
• If your bet wins, you’ll receive your winnings in cash and no bonus bet
• Bonus bets are valid for 14 days

This promotion is only available to new users who have never signed up for Caesars Sportsbook before.

Since you get your first bet back if it loses, it’s worth taking a shot on an underdog, especially given how often upsets occur in March Madness.

The newest sportsbook on this list, Fanatics has a unique promotional offer that allows new users to earn up to $100 in bonus bets for 10 straight days.

To redeem Fanatics’ promo:

• Sign up using this link or through one of the banners on this page
• Deposit at least $5 using an approved payment method
• Bet at least $5 on a market with -200 odds or longer and receive a bonus bet for the same amount
• Opt-in and repeat for the next nine days
• The maximum promotional amount is $100 each day and $1,000 total

This offer doesn’t require a promotion code. That said, make sure you opt into the promotion every day over the 10-day period.

You must wager at least $5 to earn a bonus bet and can earn up to $100 each day. If you wager $10 one day and $20 the next day, you’ll earn a $10 bonus bet for the first day and a $20 bonus for the second day.

You’ll also earn FanCash with each wager, which can be redeemed for bonus bets or merchandise credit at Fanatics’ retail store.

At BetMGM, new customers can get up to $1,500 in bonus bets if their first wager loses.

Here’s how the offer works:

• Sign up for BetMGM
• Deposit at least $10 in your account
• Use the promo code FORBES1500
• Bet on any sports market with your first wager
• If your first bet loses, receive the same amount in bonus bets up to $1,500
• Bonus bets valid for seven days

This promotion is only available to new users who have never signed up for BetMGM.

If your first wager wins, you’ll receive your winnings in cash but will not get any bonus bets.

New users who sign up for BetRivers get a “second-chance bet” that ranges from $100-$500 depending on their location.

Here’s how you can get the promo:

• Sign up for an account using your name and other personal information
• Deposit at least $10 into your account using the promo code SPORTS
• If your first wager loses, receive a bonus bet equal to that amount
• Bonus bet valid for 30 days

This offer is between $100 and $500 but varies by state. You won’t receive a second-chance bet if your first wager wins.

Not sure if you’d rather have a second-chance bet or bonus bets? With Bet365, you can choose which welcome offer you prefer.

One option gives new users $150 in bonus bets when they wager $5+:

• Sign up for Bet365 using the code FORBES in the U.S. or FORBESCAN in Canada
• Deposit money in your account
• Wager at least $5 on a market with -500 odds or longer
• Win or lose, receive $150 in bonus bets

The other option provides up to $1,000 in bonus bets if your first wager loses:

• Sign up for Bet365 using the code FORBES in the U.S. or FORBESCAN in Canada
• Deposit money in your account
• Wager up to $1,000 with your first bet
• If your wager loses, receive the same amount in bonus bets up to $1,000

Either offer can be used in conjunction with March Madness, so the choice is up to you.

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