Indiana: Best Sportsbook Bonuses and Promo Codes for February 2023

Quick facts: Indiana promo codes

1. Caesars Indiana welcome offer

Up to $1,250 on Caesars

Code: COVERSBONUSFULL

Claim Now

Caesars Sportsbook doesn’t shy away from a challenge and has stepped up to the plate with its latest up to $1,250 on Caesars welcome offer in Indiana. Like a couple of other Indiana sportsbook bonuses, the Caesars Sportsbook promo is predicated on a bettor losing the initial wager. If you win your first bet, the promotion stands null and void.

The sign-up bonus provides users with a safety net when deciding on their initial wager. As an added incentive, 1,000 Caesars Rewards® Tier Credits and 1,000 Caesars Rewards Reward Credits are also attached to the offer.

Caesars Sportsbook’s current promotion lists terms you’ll have to adhere to, including these seven: 

• Use Indiana promo code COVERSBONUSFULL when signing up to redeem the offer.
  
  
• The bet credit must be used within 14 days of activation.
  
  
• After losing the initial wager, bet credit is added to the account within two days.
  
  
• Your account will be credited with the tier and reward credits within seven days of the initial wager being settled. Remember, these credits cannot be withdrawn as real cash.
  
  
• Users must make an initial wager within 30 days of signing up.
  
  
• Must use all of the bet credit on one follow-up wager.
  
  
• Winnings paid out on bet credit, not the stake.

Caesars promo pros and cons

High $1,250 maximum offer 

Promotion guarantees 2,000 combined tier and rewards credits

30 days to make an initial, qualifying wager

Winnings paid out, but not stake on wagers using bet credit

Must use all bet credit on one follow-up wager

Must lose first bet to garner bet credit

What does up to $1,250 on Caesars Sportsbook mean for you?

This Caesars promo is an excellent way to entice new bettors to get involved. By providing a safety net, bettors can dip their feet into the water before gaining experience and determining whether they want to commit to the chosen sportsbook.

Additionally, the 1,000 tier and 1,000 reward credits provide a kickstart on garnering other Caesars rewards. Reach a certain tier or build up enough rewards credits, and you’ll be eligible for tons of perks. 

How much can you make with up to $1,250 on Caesars Sportsbook?

If your initial wager loses, a maximum bet credit of up to $1,250 is issued as reimbursement. The amount of credit you receive depends on how much you bet with your first wager. In the case of Caesars, its welcome offer checks the lucrative box if you go up to the maximum of $1,250. With no odds requirements in place, you can place a bet on any available market. If you decide to place a bet at odds of -400 using the full $1,250, then you would secure $312 as withdrawable winnings if you win the bet.

Why is this bonus better than the others?

Like others among the best Indiana betting bonuses, Caesars pours bundles of resources into their welcome offers, facilitating a high $1,250 maximum redemption offer.

2. FanDuel Indiana welcome offer

$3,000 No Sweat First Bet

No code required

Claim Now

FanDuel understands what welcome offers make bettors tick. Currently, the sportsbook is dishing out up to $3,000 back in bonus bets when you sign up, deposit $10, and place a losing wager. 

FanDuel’s promotion, which expires on Feb. 12, 2023, has an extensive list of terms and conditions, four of the most notable are outlined here:

• No FanDuel promo code is required, but you must download the FanDuel sportsbook mobile app and deposit $10 to get started.
  
  
• Bonus bets are deposited into your account within 72 hours of wager settling as a loss, with a value equal to the wager, up to $3,000.
  
  
• Bonus bets can be used on any sports betting market and expires in 14 days.
  
  
• Bonus bets cannot be withdrawn. Winnings can be withdrawn after reinvesting site credit on subsequent bets. 

FanDuel promo pros and cons

Up to $3,000 in bonus bets available

New bettors can aim for a larger payout than usual

Any market is available

Up to 72 hours for the bonus bets to hit your account

Bonus bets cannot immediately be withdrawn

What does a "$3,000 no sweat first bet" offer mean for you?

FanDuel’s welcome offer gives you up to $3,000 back in bonus bets should your initial wager lose. This provides an ideal safety net for users looking to build their bankroll.

How much money can you earn with $3,000 in bonus bets?

FanDuel does not apply odds requirements for this bonus, meaning that you are open to wager on any event. For example, betting the entire $3,000 on +300 odds could net you $9,000 in winnings.

Why is this better than the others?

In anticipation of the big game, FanDuel is offering their most lucrative promotion ever. Be highly recommend taking advantage of the $3,000 bonus before it expires.

3. BetMGM Indiana welcome offer

$1,000 back in bonus bets

No code required

Claim Now

BetMGM enters the scene with an enticing value proposition of up to $1,000 paid back in bonus bets. Here's how BetMGM disburses the reimbursed bonus bets: If the first bet wagered costs $49 or less and it loses, BetMGM reimburses the entire stake via a single deposit. However, if the bet’s stake is $50 or higher and it loses, BetMGM disburses the bonus bets via five separate 20% installments.

So if you wager $1,000 on the initial qualifying bet and lose, you will receive five bonus bets delivered in $200 denominations. Having the ability to make five subsequent wagers using bonus bets is a beneficial aspect of this welcome offer, where no BetMGM promo code is needed.

Here are five important stipulations placed on BetMGM’s promotion, which expires on Dec. 31, 2023:

• Minimum $10 deposit required.
  
  
• A maximum of $1,000 on the first wager (which must lose) is matched and credited to the account.
  
  
• All bonus bets are credited to the user’s account within 24 hours of the initial losing wager.
  
  
• Bonus bets must be redeemed within seven days.
  
  
• Only winnings will be paid out on bets utilizing bonus bets.
  
  

BetMGM promo pros and cons

High $1,000 maximum match offer 

Bonus bets disbursed in five equal 20% installments

Bonus bets deposited within 24 hours

Bonus bets must be redeemed within seven days

Only winnings paid out on bets utilizing bonus bets

If the opening wager wins, promotion stands null and void

What does $1,000 paid back in bonus bets from BetMGM mean for you?

BetMGM knows what it's doing when it comes to new player bonuses, as evidenced by its current "$1,000 paid back in bonus bets" offer. The way in which BetMGM, if the user’s initial bet loses, disperses the reimbursement provides bettors the opportunity to reinvest the credit on a number of subsequent bets. For that reason, it’s the preferred option of all the best Indiana betting bonuses.

How much money can you earn with $1,000 in bonus bets?

You can only receive a maximum of $1,000 in bonus bets, a scenario that occurs when you place a stake of $1,000, and it loses. Like all similar sign-up promos, the potential money you can earn with BetMGM's bonus depends on the wagered amount of the initial bet. Plus, betting options galore await courtesy of the no-odds requirement. If you go for a Cubs bet at odds of -250 and go all-in with $1,000, you'll score a $1,400 payout if it hits. 

Why is this better than the others?

Its $1,000 maximum match offer is obviously a highlight of the welcome offer, but there’s much more to rave about. The way in which BetMGM deposits bonus bets on applicable accounts across five equal installments is another headlining perk.

4. PointsBet Indiana welcome offer

Up to $500 in free bets

Code: 5X100RC

Claim Now

Australian-based operator PointsBet has a simplified sign-up bonus for new Indiana customers. You must use the latest PointsBet promo code — 5X100RC — to claim the offer. Here's how it works:

• Place an initial fixed odds bet, up to $100, each day over five days.
  
  
• How you start depends on your risk tolerance; try a $50 bet or go all-in with the $500 total maximum value.
  
  
• PointsBet Indiana will then refund your wagers wholly — up to $500 in total — in non-withdrawable free bets if you don't hit the mark and lose.
  
  
• As with any risk-free bets, you won’t be eligible to leverage the site credit on the wagers you win. However, you can split each of your free bets five ways, a tremendous variation.
  
  

PointsBet promo pros and cons:

Free bets can be split in four ways

Free bets deposited within 24 hours of wager settling

Fewer payment methods than other sportsbooks

Free bets must be used within seven days

What does up to $500 in free bets mean for you? 

Sports betting sites sometimes overcomplicate the welcome bonus, making it difficult for the player to claim or flat-out off-putting. Five equal risk-free bets, each worth up to $100, comes across as straightforward. Plus, you could win the initial qualifying wagers. Nothing wrong with that outcome. In a scenario where you back the Colts to win at odds of +450 with $100 staked, you're in line for a $450 payout should they pull out the win.

5. Unibet Indiana welcome offer

$100 risk-free bet

No code required

Claim Now

The $100 risk-free bet welcome offer from Unibet isn’t nearly as lucrative as other elite Indiana sportsbook bonuses, but it's still a solid place to start. Keep in mind that Unibet’s welcome offer comes as bonus money with a 3x playthrough requirement attached.

If you stake $100 on your opening wager and it loses, $100 in withdrawable funds is deposited into your account, placing this offer amongst the best Indiana betting bonuses. Here's the breakdown:

• Required minimum $10 deposit and no Unibet promo code needed.
  
  
• Unibet matches the initial stake and deposits up to a maximum of $100.
  
  
• If the first bet settles as a loss, a cash refund goes into your account within 72 hours.
  
  
• Eligible players receive bonus money with a 3x playthrough requirement attached. Only bets at odds of -300 or more count towards the bonus.
  
  
• Users have seven days to meet the playthrough requirement.

Unibet promo pros and cons:

Cash refunds are provided on first bets settled as a loss, which can be withdrawn immediately

Free bets can be used on any sports market

Risk-free initial wager

Lower maximum match offer, just $100

If the first bet loses, the refund takes 72 hours to hit your account

Why is this Unibet risk-free bet better than others? 

The prospect of receiving credit that is immediately withdrawable significantly elevates Unibet’s overall proposition. Plus, you don’t need a specific Indiana promo code to redeem this offer. 

Latest Indiana betting news

Most common sign-up bonuses

There are quite a few common sportsbook sign-up bonuses extended to players to garner a maximum number of new customers. However, risk-free bets, deposit matches, and no deposit bonuses are three of the most popular.

Risk-free bet

Risk-free bets are advantageous in a number of ways. For starters, they present an opportunity for bettors to wager without assuming too much risk if their respective wagers lose.  The only way the promotion activates is through a loss, so there is ample merit in sourcing an underdog that has a viable chance of upsetting the apple cart.

Let's say you like the Indiana Pacers, pegged as underdogs, at home against the Cleveland Cavaliers. Source additional reasons for backing the Pacers. Don’t simply back them because you have a risk-free bet at your disposal. 

Are any of Cleveland’s top players tired or hurt? Are the Cavaliers playing on back-to-back nights? Once you find a number of valid reasons to back the Pacers, go for it. If you win, you’ll reap the rewards from the risk-forward wager. If you lose, the sportsbook will reimburse the stake up to a pre-specified maximum. That’s the definition of a win-win scenario.

Deposit match

Deposit matches are a powerful tool used by sportsbooks, as they immediately double a bettor’s original investment. If a new player deposits $200 on a 100% deposit match offer, they will receive $200 in site credit, increasing their overall wallet to $400. 

Remember, stipulations and requirements are always placed on these offers, including rollover requirements and potential odds restrictions, so make sure to read the terms and conditions of each welcome offer.

No deposit bonus

No deposit bonuses are used less frequently than deposit matches and risk-free bets but are just as effective. Bettors love the fact that a sportsbook makes a pre-specified deposit on their behalf, ensuring users don’t initially have to invest their own money. The sportsbook believes the original investment will be enough to convince new bettors to commit long-term. 

This type of offer is regularly used by new sports betting sites and for prominent events, like the NBA Finals, Super Bowl, and March Madness. 

All online sportsbooks in Indiana

Indiana-based bettors have access to 13 regulated and licensed online sportsbooks, ready to accept legal wagers. Here's the complete list of Indiana betting sites — including new betting sites available to players 21 years of age and older:

Indiana's online and mobile sportsbooks

Online sportsbook	Mobile app	Odds provider	Online casino	Retail partner
Bally Bet	Yes	Bet.Works	No	Bally's Evansville
Barstool	Yes	Kambi	No	Ameristar Casino East Chicago
BetMGM	Yes	BetMGM	No	Belterra Casino
BetRivers	Yes	Kambi	No	French Lick Resort
Betway	Yes	SBTech	No	Belterra Casino
Caesars	Yes	Caesars	No	Indiana Grand Racing
DraftKings	Yes	SBTech	No	Ameristar Casino East Chicago
FanDuel	Yes	Flutter	No	Blue Chip Casino
Hard Rock	Yes	GiG	No	Hard Rock Casino Northern Indiana
PointsBet	Yes	PointsBet	No	Lawrenceburg's Hollywood Casino
SBK Sportsbook	Yes	Smarkets	No	Rising Star Casino Resort
Unibet	Yes	Kambi	No	Horseshoe Hammond
WynnBET	Yes	GAN	No	Rising Star Casino

More Indiana betting resources

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