North Carolina legislators could finally be getting behind legal online sports betting in 2023. If that happens, major online sportsbooks will be looking to launch in the state and attract customers. That means they’ll offer all sorts of bonuses and promos.
Here’s how you can claim the best bonuses and promotions at the top online sportsbooks, should they come to North Carolina.
Best sportsbooks for bonuses
Here’s a look at what the main online sportsbooks in the US are doing in current legal betting states and what they could end up offering in North Carolina when they can.
DraftKings Sportsbook promos
- Welcome bonus: $50 bonus bet plus 20% matching up to $1,000 when you make a first deposit. Also, bet $5 to win an additional $150 in bonus bets if your team wins.
- Ongoing promos: Up to a 100% profit boost on NBA games, up to a 100% boost on single game parlays, up to a 100% boost on NHL parlays.
- Known for: Promos for bets on the big four sports leagues (NFL, NBA, MLB, NHL).
BetMGM Sportsbook promos
- Welcome bonus: A refund of up to $1,000 in bonus bets if your first bet loses.
- Ongoing promos: NBA first basket scorer insurance, football one-game parlay insurance, NBA one-game parlay insurance, English Premier League one-game parlay insurance.
- Known for: Betting options that go beyond the big four leagues.
Caesars Sportsbook promos
- Welcome bonus: A refund of up to $1,250 as a single bonus bet if your first bet loses.
- Ongoing promos: Giveaways, parlay insurance, profit boosts, odds boosts.
- Known for: Boosted odds on the biggest games on the calendar every day.
FanDuel Sportsbook promos
- Welcome bonus: “No Sweat First Bet”—a refund of up to $1,000 in bonus bets if your first bet loses.
- Ongoing promos: TNT Tuesdays no sweat single-game NBA parlays, bet $5 on the NBA and get three months of NBA League Pass.
- Known for: Promos for NFL and NBA bets.
How to use a sportsbook bonus code
Codes can unlock some of the new-player bonuses we went over above, as well as bonuses at other online sportsbooks. Once online sports betting goes live in North Carolina, we’ll list various bonus and promo codes on this page.
All you’ll have to do is fill in the bonus code field with that info when the sportsbook prompts you during sign-up. The sportsbook will do the rest. Here are a couple of examples:
| Sportsbook | Promo or Bonus Code | Bonus |
|---|---|---|
| Caesars | LEGALFULL | $1,250 |
| BetMGM | PLAYBONUS50 | $1,000 |
What are bonus bets, and how do they work?
Some of the sportsbook promos above mention “bonus bets.” These are credits you can use to bet at the sportsbook, but they are not withdrawable on their own. Win with a bonus bet and you’ll get the winnings but not the amount of your wager back as you normally would.
Bonus bets and other similar credits usually have a shelf life, which means they won’t work on most futures bets. Look to use them on single-game bets, but avoid big favorites because you can only collect the winnings.
What is bet insurance, and how does it work?
Bet insurance is a promo that online sportsbooks use quite often. Here’s how it works.
- Place a certain type of bet according to the terms of the offer (such as your first bet as a new customer at that sportsbook).
- If that bet loses, you’ll get a refund, generally in the form of a bonus bet or bonus bets.
This is more of a limited second chance than a refund because the refund is something that you will need to wager and subsequently win with to see any benefit. Plus, if your bonus bet wins, you receive only the profit from the wager, not your original bet amount. You may also find sportsbooks offering insurance if you lose a parlay by just one leg.
Most of the time, there’s no risk in claiming such a promotion if you were planning to place the bet anyway. It’s simply a bit of insurance for your bet that could give you a return on what would otherwise be an immediate loss.
What other bonuses are available to new bettors?
Here are some other terms you may run across at online sportsbooks in North Carolina.
Deposit matching bonuses: A bonus that’s a percentage of your initial deposit up to 100%. You have to make a deposit, and there will be limits. Plus, you’ll need to meet a playthrough requirement by betting the amount of the bonus a certain number of times before it is yours. Look for the highest match percentages, highest limits and lowest wagering requirements.
No deposit bonuses: A bet credit that you receive just for signing up at a sportsbook; there’s no need to make a deposit. These are usually small, making it hard to win big.
Bet and get: Bigger payouts on a small bet, and sometimes you don’t even have to win to receive the reward. Sportsbooks often pay these in bonus bets, which means only winnings if you win with them.
What other ongoing promotions will you find at online sportsbooks?
Odds boosts: Better than the normal odds for a specific bet. Most sportsbooks offer odds boost daily, but these only pay off when the boosted bet wins.
Profit boosts: Better than the normal payouts on certain bets. Sportsbooks may offer league-specific profit boosts regularly, but these offer value only when your bet wins.
Insurance: A refund in bonus bets against certain losses. Parlay insurance, overtime insurance and third- or fourth-quarter insurance all offer refunds when you come close. Again, the refunds generally take the form of bonus bets.
Pools and contests: Free-to-enter betting pools and sponsored contests with cash or betting credits as prizes.
Terms and conditions for bonuses
There’s always a catch or at least something you need to do to get your hands on a sportsbook promo or bonus. Read the fine print, including every term and condition, for any sportsbook promo or bonus. The terms and conditions should include the following:
- What playthrough requirements you must meet, if any;
- The bets that qualify for the bonus;
- Any minimum or maximum odds that you’ll need to know;
- What you stand to win on successful wagers;
- What form refunds take (cash, site credit, bonus bets).
Sportsbook bonuses FAQ
The maximum will vary from sportsbook to sportsbook. Additionally, the absolute maximum dollar figure may not be the most important information for you, depending on what you are looking for in a bonus. Caesars Sportsbook, for instance, offers a bonus of up to $1,250, but that is only if you lose your first bet. The refund you receive is in the form of a bonus bet, meaning you would need to wager it and win to receive any benefit.
A sportsbook’s welcome bonus is almost always limited to one per person. However, there’s no limit on how many sportsbooks you can sign up for, other than the total number of legal online sportsbooks in your state.
Playthrough requirements, a.k.a. wagering requirements, stipulate how much you need to wager to translate a bonus (such as a deposit matching bonus) into withdrawable cash. Sportsbooks usually express this as a multiple of the bonus amount, such as 25x.
Many bonuses allow you to bet on anything you want. Just look at the terms and conditions to check whether the sportsbook excludes a specific sport or type of bet.
You can cash winnings from bonus money out like any other winnings as long as you’ve met the wagering requirements.
If there is, the sportsbook will list the maximum in the terms and conditions of the bonus.
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