If you’re new to legal sports betting, there’s one thing you should know: sportsbooks are practically giving away money to get you to sign up.
Right now, the combined value of all major sportsbook welcome bonuses exceeds $10,000 in free bets, bonus bets, and bet insurance. Here’s every offer worth claiming in March 2026, ranked by total value.
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Quick Overview: All Bonuses at a Glance
Sportsbook
Welcome Bonus
Min. Deposit
Our Rating
BetMGM
Up to $1,500 in bonus bets
$10
★★★★★
DraftKings
Up to $1,200 in bonus bets
$5
★★★★★
Fanatics
Up to $1,000 (10 x $100 no-sweat bets)
$5
★★★★☆
FanDuel
$300 in bonus bets (Bet $5, Get $300)
$10
★★★★☆
Caesars
$1,000+ (First bet on Caesars)
$10
★★★★☆
bet365
Up to $365 in bonus bets
$10
★★★★☆
ESPN BET
Varies by state
$10
★★★☆☆
Total
$5,365+
Bonuses may vary by state. These are the most common offers as of March 2026.
1. BetMGM — Up to $1,500 in Bonus Bets
The offer: If your first bet loses, BetMGM refunds the full amount in bonus bets — up to $1,500. This is one of the largest single-bet insurance offers in the market.
How it works:
Sign up for a new BetMGM account
Make a minimum deposit of $10
Place your first bet (up to $1,500)
If it loses, you receive the full amount back in bonus bets
Fine print: Bonus bets expire in 7 days. They cannot be withdrawn as cash — you must wager them. Any winnings from bonus bets are withdrawable (minus the bonus bet stake).
Available in: AZ, CO, DC, IL, IN, IA, KS, KY, LA, MA, MD, MI, MS, NJ, NV, NY, OH, PA, TN, VA, WV, WY
Pro tip: Pair this with a matched betting strategy to convert a significant portion of the bonus into guaranteed profit. A $1,500 bonus bet can typically be converted to $600–$1,000+ in real cash.
2. DraftKings — Up to $1,200 in Bonus Bets
The offer: New users get a multi-part welcome bonus that can total up to $1,200 in bonus bets, typically structured as bet-and-get promotions over your first few days.
How it works:
Create a new DraftKings account
Deposit at least $5
Follow the specific promotion steps (usually bet $5 on your first wager to unlock bonus bets)
Additional bonuses may be offered over your first week
Fine print: Bonus structure changes frequently. Check the current promotion on the DraftKings app. Bonus bets typically expire in 7 days.
Available in: AZ, CO, CT, IL, IN, IA, KS, KY, LA, MA, MD, MI, NJ, NY, OH, OR, PA, TN, VA, VT, WV, WY
3. Fanatics Sportsbook — Up to $1,000 in No-Sweat Bets
The offer: Fanatics matches your first daily bet for 10 consecutive days, up to $100 per day — totaling $1,000 in no-sweat bet protection.
How it works:
Sign up and deposit at least $5
Each day for your first 10 days, your first bet is protected
If the bet loses, you receive the stake back as FanCash (bonus bets)
Maximum match per day: $100
Fine print: You must place a qualifying bet each day to unlock that day’s no-sweat token. Miss a day and you lose that portion.
Available in: AZ, CO, CT, IL, IN, IA, KS, KY, LA, MA, MD, MI, NJ, NY, NC, OH, PA, TN, VA, VT, WV, WY
Pro tip: This is one of the best offers for matched betting because you get 10 separate chances to convert bonuses. Even at conservative conversion rates, this can yield $400–$600 in guaranteed profit.
4. FanDuel — Bet $5, Get $300 in Bonus Bets
The offer: Simple and clean — deposit and bet $5, and you instantly receive $300 in bonus bets regardless of whether your bet wins or loses.
How it works:
Sign up for a new FanDuel account
Deposit at least $10
Place a $5 bet on any market
Receive $300 in bonus bets (usually split into smaller denominations)
Fine print: Bonus bets expire in 14 days. One-time offer per customer.
Available in: AZ, CO, CT, DC, IL, IN, IA, KS, KY, LA, MA, MD, MI, NJ, NY, NC, OH, PA, TN, VA, VT, WV, WY
5. Caesars Sportsbook — $1,000+ First Bet Insurance
The offer: Place your first bet up to $1,000. If it loses, get it back as a bonus bet. Additional profit boost tokens may be included.
How it works:
Sign up with the Caesars promo code
Deposit and place your first bet (up to $1,000)
If it loses, receive the full amount back in bonus bets
Some promotions include 10 profit boost tokens on top
Fine print: Bonus bets expire in 14 days. Standard wagering requirements apply.
Available in: AZ, CO, DC, IL, IN, IA, KS, KY, LA, MA, MD, MI, NJ, NV, NY, NC, OH, PA, TN, VA, WV, WY
6. bet365 — Up to $365 in Bonus Bets
The offer: Bet $1, get $365 in bonus bets — or use the alternative first bet safety net offer.
How it works:
Register a new bet365 account
Make a qualifying deposit
Place your first bet
Receive bonus bets based on the current promotion
Available in: AZ, CO, IN, IA, KY, LA, NJ, NC, OH, PA, VA
How to Maximize Your Sign-Up Bonuses
Sign Up for Multiple Sportsbooks
There’s no rule that says you can only use one. Sign up for all of them. Each bonus is independent, and you can have active accounts at every sportsbook in your state.
Use Matched Betting to Convert Bonuses
Bonus bets aren’t the same as cash — they need to be wagered. But using matched betting techniques (backing and laying opposing outcomes), you can convert 70–85% of bonus bet value into withdrawable cash.
Example: A $1,500 BetMGM bonus bet, converted at 75%, yields $1,125 in real cash profit.
The welcome bonus is just the beginning. Most sportsbooks offer weekly profit boosts, odds boosts, and reload bonuses to existing customers. Check the promotions tab regularly.
States Where Online Sportsbook Bonuses Are Available
As of March 2026, legal online sports betting is available in 31 states plus Washington D.C. The highest-paying states for sportsbook promotions tend to be competitive markets like New York, New Jersey, Pennsylvania, Illinois, and Michigan — where sportsbooks spend aggressively to acquire customers.
New sportsbook sign-up bonuses represent one of the easiest money-making opportunities in 2026. Claiming all available bonuses and converting them with matched betting can realistically yield $3,000–$8,000+ depending on your state.
The offers won’t last forever — sportsbooks will eventually reduce bonuses as the market matures. The time to claim them is now.
