BetMGM, FanDuel & Caesars Sportsbook Promo Codes Offer $2,050 Total Value All Weekend
Photo by Justin Ford/Getty Images. Pictured: Jordan Watkins (Ole Miss)
There's one "first bet on the house," which means you'll be refunded in bonus bets if your first bet loses, and two "bet/get" offers, which award you bonus bets right away after your first wager no matter what happens to it.
We'll dive into the specifics of each below.
FanDuel, BetMGM & Caesars Bonus Offers
- BetMGM Bonus Code: TOPACTION: A first bet on the house up to $1,500. It's available in all BetMGM states but Kansas, Washington D.C. and New York.
- Caesars Sportsbook Promo Code ACTION4GET : By using this promo code, you can earn $250 in bonus bets with a $50 wager. It's important to note that the bonus bets are not awarded all at once; instead, they are released in increments of $50 every Monday until the full $250 has been earned.
- FanDuel Promo Offer (no code required): The FanDuel promo offers $200 in bonus bets and a $100 discount off NFL Sunday Ticket, with no need for a promo code. Simply use the provided links to access this offer, which presents a total value of $300.
BetMGM's offer stands out from the other two, so let's delve deeper:
BetMGM First Bet on the House
A first bet on the house is sort of what it sounds like. If your first wager loses, you'll be refunded whatever you lost, up to $1,500, but you'll be refunded in bonus bets.
Let's take an example from Saturday's college football slate.
Say you deposit $300 and bet it on South Alabama +200 against Oklahoma State on Saturday. Here's what can happen:
- If South Alabama wins, you pocket $600 in profit, and keep your $300 wager. Your account will now be filled with $900 total cash, which you can either continue to wager or withdraw. The promo is effectively over after that win.
- If South Alabama loses, you'll get $300 back in bonus bets.
OK, so how do you use the bonus bets? They're like a credit in which you keep any profit, but not the stake itself.
BetMGM will split up your bonus bets in pre-determined amounts based on how much you're getting back, so let's use a $50 bonus bet as an example.
- If the Jets win, you'll pocket $150 in cash, but you won't keep your $50 bonus bet. So you'd now have $250 in bonus bets remaining, plus $150 in cash in your account, following your $300 deposit.
- If the Jets don't win, you'll lose that bonus bet and have $250 in bonus bets remaining.
If you're betting optimally with bonus bets, you should convert them to cash at about a 70% rate over a large sample. So if you have $300 in bonus bets, expect about $200 back in cash, resulting in a $100 loss after your $300 deposit.
Caesars Sportsbook Bet/Get Offer
Caesars has traditionally offered a "first bet on the house" like BetMGM, but this football season, they are giving out $250 in bonus bets when you place a $50 wager. This approach differs from many sportsbooks that have moved away from such offers due to their low initial investment requirement. However, Caesars has returned to this model for now.
One important note is that the bonus bets are not provided all at once. They are released in increments of $50 every Monday over the first five weeks on the platform until the full $250 has been released.
The bonus bets work the same as BetMGM's — you keep any profits, but not the bonus itself. So a $50 bonus bet wager on Steelers +110 against the Browns will pay $55 cash if it wins, but you won't keep the bonus itself.
FanDuel Promo Offer
Similar to the Caesars offer, FanDuel Sportsbook offers $200 in bonus bets with a $5 wager, in addition to a $100 discount off NFL Sunday Ticket. Unlike Caesars, you will receive the entire bonus in one installment after your first $5 wager.
It's worth mentioning that FanDuel may reintroduce its "no-sweat first bet" offer during this football season. If you are interested in bonus bets with minimal upfront investment, it's advisable to take advantage of this offer promptly.