bet365 Bonus Codes: Active $1K First Bet in NJ, CO, Ohio, VA & Iowa, $365 in Kentucky All Weekend

If you're betting college football on Saturday in Colorado, Iowa, New Jersey, Ohio or Virginia, the bet365 bonus code TOPACTION provides a first bet offer of up to $1,000. If it loses, you are reimbursed in bonus bets from bet365 equal to what you lose. Their other signup offer scores a guaranteed $150 in bonus bets after your first $5 wager.

Aside from those five states, bet365 in Kentucky reveals $365 in bonus bets following a $1 bet. New bettors just need to deposit $10 and placing a $1 wager on any prop with -500 odds or longer.

All three offers use the same bet365 bonus code TOPACTION.

Both offers are meant to lend value in either result of your first bet. You can select one of the two upon signing up.

bet365 also offers our favorite same game parlay interface, tons of props and live betting options among other things. Let's get creative for our Saturday bonus betting example.

Breaking Down the bet365 Bonus Code Offer

With bonus bets, imagine betting monopoly money to profit real cash. That’s sort of how bonus bets work. You can’t withdraw them, but you can place wagers to win profits. Once the bonus bets are used they go away. So you won’t keep the stake if your bet wins.

A rule of thumb is to never overreact to trends: It may be tempting to place a bet on a team riding a nine-game win streak or fade the team that’s in a slump, but you shouldn't take this into consideration. Teams that are following a win are historically overvalued.

Look for longshots when using bonus value at any sportsbook because you will not keep the winnings. You will also accrue more value over time when going plus. So that's why picking player props or crafting a parlay are optimal moves for using bonus bets.

Let's use this parlay from our Week 6 betting write up:

• Georgia Tech +21 at Miami
• California +9.5 vs. Oregon State

This parlay is priced at +265 at the time of this writing.

We'll lose any bonus bet stake we use at bet365. If we use a $100 bonus bet on the Nebraska ML, we either have a $150 profit or no winnings.

Quick Bet Tip: How to Hedge

In sports betting circles, you may have heard the term "hedge" thrown around a time or two. Hedging is a more grounded approach to betting; a bettor will wage on the opposite side of their original bet when the odds of it winning becomes more realistic.

An example would be as such: Let's say I bet $100 on UConn to upset Rice at +280. Say UConn is leading by a possession in the fourth quarter. The +280 is no longer available on the market at this point, as the Huskies moneyline would be minus since they're leading.

I can either ride the bet out and hope the Huskies can finish ahead or hedge the bet to insure my $100. This means I would place a wager on Rice to come from behind and win the game. It would cut my winnings if the Huskies still win, but also provide some sort of profit in the case of either result.

bet365 Terms & Conditions

Here are the important points to know about this offer:

• States available: Colorado, Iowa, Kentucky, New Jersey, Ohio, and Virginia
• You'll get the bonus bets about one hour after your first bet settles.
• Make your first bet within 30 days of account creation
• If you're inactive for 90s days, your account will be closed.
• You can't bet on both sides of the same game to lock in a profit.

New players only, 21+. Gambling Problem? Call 1-800-GAMBLER. Available in NJ, IA, CO, VA, OH only. Place a qualifying bet of up to $1000 to be eligible for a matched refund in Bonus Bets if your qualifying bet loses. A deposit (minimum $10) is required to participate in this offer. T&Cs, time limits and exclusions apply.

Bet $5 and Get $150 in Bonus Bets at bet365. Deposit required. Bet Credits wager excluded from returns.