Caesars Sportsbook Promo Code Scores $1,250 for NCAA Football

A bundle of Week 4 NCAA football action is on tap and Caesars Sportsbook promo code ACTION4FULL gives new users first-bet insurance of up to $1,250.

To clarify, you can wager whatever you'd like up to $1,250, and you'll get that same amount back if your first bet loses.

Caesar calls this compensation "free bets," which you can generally turn into cash at about a 50-70% rate, depending on how you use them.

Use ACTION4FULL at checkout or this link if haven't started your signup yet.

Here's how the offer works at Caesars.

What Does First-Bet Insurance Mean?

Sportsbooks all have their own names for things and it can be confusing, as each promotion can vary from another.

At Caesars, here's how first-bet insurance works (labeled "risk-free" bet by other sportsbooks):

• Follow this link to sign up and/or put in ACTION4FULL at checkout.
• Make your first bet up to $1,250
• If the bet wins, you keep the stake and the profits.
• If it loses, you'll get your bet amount back in free bets (you only get the full. $1,250 in free bets if you wagered that much).

Check out this example of how the offer will work:

You wager $15 on UTEP moneyline at +500 against Boise State.

• If UTEP wins, you'd win $75, and keep the original $15 you bet with. You've now got about $90 in your account.
• If it loses, you get $15 back in free bets.

A free bet is a bet that can be wagered on anything, and if it wins, it turns into real cash. If it loses, you end up with nothing.

Let's look at the other end of the spectrum: UTEP loses tonight, and you bet the $15 in free bets that you received from Caesars on Colts moneyline against the Chiefs. Caesars has Indy at around +200.

• If the Colts win, you'll profit $30 on the $15 in free bets, but won't keep the $15. So that's $30 in your account from a $15 deposit that you can now withdraw or continue betting.
• If Indy loses, you walk away empty-handed.

So, there is some risk here, just less — since at the end of the day, you can lose your whole deposit, or some of it if your free bet loses.

How can I Sign Up at Caesars?

1. Click here and select your state, and input the Caesars promo code ACTION4FULL.
2. Provide your basic personal information to create an account, including your name, date of birth, address & email address.
3. Make an initial cash deposit using one of the available banking methods, including PayPal and credit/debit cards.
4. Download the Caesars Sportsbook app.
5. Bet up to $1,250 on your first bet!

How Do I Use My First-Bet Insurance?

You've got free bets and want to use it for easier odds. We get that. But you should always consider the plus (+200, +375, etc.). There's much more expected value in those —  here's the math for you to explain why.

You'll lose more often than you win, but over time at enough sportsbooks, you'll make money.

Before you place your bets with the Caesars promo tonight, here are some betting factors to deliberate:

• Our analysis on UTEP vs. Boise State and how you can bet the alternative spread and total.
• Target these 3 games for our best bets of Week 4's College Football slate.
• Can Auburn bounce back against Missouri after an embarrassing blowout last week? Here's our alternative spread.
• How low can you go?: the Rutgers-Iowa total could just be the lowest in College football history .