Legal In USA
Verified on Aug. 9, 2026
Last used 48 mins ago
2 min avg claim time
Editor's note (August 2026): We're actively working on acquiring a promo code for Robinhood. In the meantime, we highly recommend the Kalshi promo code offer, which currently gives eligible new customers access to the 'Up to $500 in Bonuses' sign-up offer.
Most popular sports trading promo code offer
No Robinhood promo code is required for new users in most states to register with the U.S.' leading online trading platform, which now offers sports betting contracts via your Robinhood Derivatives account. Read our detailed guide below to learn more about one of the best trading betting sites in 2026.
Check out the sportsbook promos that are available to you today while we finalize our offering, inlcuding what bonuses you can get from the current Kalshi promo code and Polymarket promo code welcome offers.
Robinhood promo code summary for this week
| 💰 Robinhood sign-up bonus | $200 in reward stock |
| ⭐ Top feature | World-class trading platform |
| 💲 Minimum deposit | $1 |
| 🌎 Eligible states | Most states + DC |
| 📱 Kalshi mobile app | iOS & Android |
| 🕒 Offer expiry | Ongoing |
| ✅ Last verified | Aug. 9, 2026 |
Robinhood promo code terms and conditions
Robinhood’s public no-code reward-stock offer can be claimed in minutes, but Covers does not currently have a site-exclusive Robinhood promo code. Here are the main terms to know before signing up:
- The Robinhood promo code offer is available to new users in 45 states, plus DC.
- You do not need to input the Robinhood promo code during registration.
- You must verify your identity to ensure you are of legal betting age and link your newly created Robinhood account to your banking account to qualify.
- Since this is a no-deposit bonus, Robinhood will instantly issue you a welcome bonus between $5 to $200 in reward stock.
- You must wait three days before selling any reward stock earned. Once you've sold it, you must keep the cash value of the stock in your account for 30 days before withdrawing.
- This Robinhood promo code offer is ongoing.
Best Robinhood bonus offers for new users
Robinhood is a financial trading company that began dipping its toes into the American sports betting industry in October 2024, providing event contracts — betting markets — for the U.S. presidential election. Today, new users in most states, plus DC, can register without a Robinhood promo code and unlock the following welcome bonus:
How to use the promo code on Robinhood
Since there is no promo code for Robinhood, you can easily claim the online betting sites' welcome bonus. Simply sign up, and after verifying and linking your new online sportsbook account to your banking institution, you'll receive the Robinhood no-deposit offer. The bonus will be $5, $10, or $200 in reward stock, which you can use to buy and trade event contracts on-site.
Covers Expert Analysis
Is Robinhood legal?
Although Robinhood is not a traditional betting site like FanDuel, DraftKings, or Caesars Sportsbook, the online trading platform is regulated by several U.S. governing bodies — such as the Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC) — to provide sports betting contracts to bettors in most states who are at least 18 years old.
| Alabama | Kentucky | Rhode Island |
| Alaska | Maine | South Carolina |
| California | Minnesota | South Dakota |
| Colorado | Mississippi | Tennessee |
| Connecticut | Missouri | Texas |
| DC | Nebraska | Utah |
| Delaware | New Hampshire | Vermont |
| Florida | New Mexico | Virginia |
| Georgia | New York | Washington |
| Hawaii | North Carolina | West Virginia |
| Idaho | North Dakota | Wisconsin |
| Indiana | Oklahoma | Wyoming |
| Iowa | Oregon | |
| Kansas | Pennsylvania |
How do you claim the Robinhood promo code?
Robinhood offers sports betting via event contracts, allowing you to predict the outcome of a given game in a simple "Yes" or "No" format. Follow the steps outline here to claim your Robinhood promo code bonus today:
Register
You can create an account via the Robinhood sports betting app or on your desktop. Simply select 'Sign Up' and provide personal information, like your date of birth and full name. Remember to link your bank account to your Robinhood profile to qualify for the Robinhood promo code welcome offer.
Deposit funds
You must upload a government-issued ID — driver's license, passport, etc. — to verify your identity. Once confirmed, you will automatically receive the Robinhood no-deposit offer of up to $200 in reward stock.
Start trading
With bonus funds in your account, head to the 'Prediction Market' section to explore the available betting options. Trading hours and fees can vary by contract, so review the market details and fee preview before placing a trade.
Withdraw winnings
When you are ready to withdraw, simply navigate to your account — indicated by the 'Person' icon — and select 'Transfers'. You'll hit 'Withdraw' on mobile, while desktop users will select 'Transfer Money'. Then, enter the amount you wish to take out, choose your preferred banking method, and hit 'Transfer' to complete the transaction.
Robinhood review
Robinhood is a leading U.S. trading platform for buying and selling traditional stocks in 2026. Sports events and prediction markets are still a newer part of the Robinhood experience, but the platform now features a broader Prediction Markets Hub with sports, politics, economics, crypto, culture, and other event contracts. Robinhood is not a traditional sportsbook, but it gives eligible traders in many states a familiar way to buy and sell predictions on real-world outcomes.
Who it's forRobinhood is ideal for people interested in stocks and finance who also want to try prediction markets from the same app. Its event-contract hub now covers more than sports, but users who only want a dedicated sports betting or prediction-market experience may still prefer a platform built primarily around those markets.
Covers BetSmart Rating: ⭐ 4.2/5 | Bonuses and promotions | ⭐ 4.0/5 |
| Banking and payout speed | ⭐ 4.5/5 |
| Key features | ⭐ 4.5/5 |
| Security and trust | ⭐ 4.8/5 |
| Customer support | ⭐ 3.5/5 |
| User experience | ⭐ 4.6/5 |
| Market pricing | ⭐ 4.3/5 |
User reviews "Overall the Robinhood platform is pretty good. I like the overall ease of use of the platform and like the fact that I can invest in stocks, ETFs and Crypto."
- App Store user
"It's GREAT! I have other investment apps but Robinhood seems to be the best one, as the colors and layout (UI) are better than the competition."
- Michael, Google Play Store user
Robinhood at a glance
| 💰 Robinhood sign-up bonus | Up to $200 in reward stock |
| 🏅 Top feature | World-class trading app |
| 💵 Minimum deposit | $1 |
| 🕒 Payout speed | Within 24 hours |
 App Store rating |
4.3/5 ⭐ (4.8M reviews) |
 Google Play rating |
4.2/5 ⭐ (531K reviews) |
| 🌎 Available states | 45 states + DC |
| ✅ Last verified | Aug. 9, 2026 |
What we like
What we don't like
Robinhood app review
The Robinhood app is one of the world's best mobile trading platforms in 2026 and is free to download on the App Store and Google Play Store. We love its clean interface, which lets you browse the sports betting app and buy, sell, and trade event contracts seamlessly. We also appreciate how streamlined the banking process is on mobile, as you can fund or withdraw from your sportsbook app account with just a few taps.
The public echoes our high praise for the Robinhood app, though app-store ratings can change often. The App Store listing shows a 4.3/5 rating from 4.8M ratings, a size of 921.9 MB, and Version 2026.27.1. Google Play lists Robinhood at 4.2/5 from 531K reviews, with 10M+ downloads, Version 2026.26.4, and a July 8, 2026 update date.
Robinhood iOS app
Robinhood promo comparison
 Robinhood |
Kalshi |
 DraftKings Predictions |
 ProphetX |
 Novig |
|
|---|---|---|---|---|---|
| Compare | |||||
| Welcome bonus | Up to $200 in Reward Stock | Up to $500 in Bonuses | Spend $5, Get $150 in Prediction Dollars | Trade $10, Get $20 | Spend $5, Get $50 in Novig Coins |
| Promo code | Automatically applied | COVERS | Automatically applied | COVERS | COVERS100 |
| Bonus type | No-deposit | Trade and get | Trade bonus | Play and get | No deposit offer |
| Bonus form | Up to $200 in reward stock | Up to $500 in bonuses | $150 in Predictions Dollars | 2% bonus back on every play for 30 days | 1,000 Novig Coins & five Novig Cash |
| Payout speed | Within 24 hours | Within 24 hours | Varies by withdrawal method | Within 24 hours | Within 24 hours |
| Min. deposit | $1 | $10 | $5 | $10 | $5 |
| Covers BetSmart Bonus Rating | ⭐ 3/5 | ⭐ 4.9/5 | ⭐ 4.2/5 | ⭐ 4/5 | ⭐ 4.6/5 |
| Claim Bonus | Claim up to $200 | Earn up to $500 | Claim $150 | Claim $20 | Claim $50 |
What markets can you trade on Robinhood?
Robinhood’s Prediction Markets Hub now includes 1,000+ real-world events across sports, politics, economics, crypto, entertainment, financial markets, commodities, climate, and more. Sports remain a major part of the product, with active markets across NHL, NBA, NFL, MLB, F1, tennis, soccer, golf, and other events.
Sports contracts still work differently from sportsbook bets. Instead of taking traditional odds, you buy and sell event contracts that can resemble moneyline betting when the market is based on a game winner. Prices move as traders buy and sell each side, and you can exit positions before settlement.
Robinhood also supports non-sports markets, which keeps it closer to a broader prediction market than a traditional sportsbook. That includes politics and election-style contracts, giving it overlap with the wider political betting sites category.
Robinhood live event trading
Robinhood's single-event contracts are open until the game ends, allowing you to buy, sell, or trade with other users until the final buzzer. While it's not as comprehensive as traditional online sportsbook live betting, Robinhood still allows you to capitalize on a lucrative opportunity or minimize your losses depending on how the game unfolds.
Robinhood Preset Combos and Player Contracts
Robinhood is soon expanding its prediction markets with Preset Combos and Player Contracts, giving users more dynamic ways to trade sports outcomes. Combos function like parlays, bundling multiple results such as spreads or totals into a single contract that pays $1 if every outcome settles correctly. Starting in 2026, traders can build custom combos with up to 10 legs.
Robinhood also introduced Player Contracts for props like touchdown scorers and passing or rushing yards, with plans to extend them beyond football. These upgrades reflect Robinhood’s push to become a leading hub for event-based trading.
Robinhood profitable trading strategies
Due to Robinhood's unique approach to online sports betting, we've outlined a few tips to help you get the most out of your trade:
Analyze data 📈
Analyze line movement, player stats, and other data points to identify market inefficiencies to guide your trades.
Diversify your trades 👥
Whether buying stock or sports event contracts, putting all your eggs in one basket is never a good idea. Spread your money around different markets to avoid significant losses.
Stick to budget 💰
The best way to minimize losses is to stick to a pre-made budget and never invest more than you are willing to lose. We'd suggest buying in early on a contract, as each starts at just $0.50, instead of buying late when the price could be over $0.90 per contract.
Be cautious of the consensus 👀
It’s essential to avoid groupthink when using Robinhood or any other trading platform. Conduct your own research before buying into popular contracts.
Avoid emotional trading 🧘
It's important to trade with your head at Robinhood, not your heart or gut. Blindly backing a position on a contract based on an emotional hunch can lead to trouble.
Robinhood promo code for existing customers
Besides its generous no-deposit bonus, which does not require a promo code for Robinhood to claim, the online trading platform also offers a lucrative sportsbook referral bonus that is an expanded version of its welcome bonus.
- Send your unique Robinhood referral link, found in the 'Earn Stock' or 'Rewards' section, to your interested, eligible friend.
- You get $5 to $200 in reward stock per referral and can receive up to $1,500 in yearly bonuses from this promo.
- You must wait three days before selling any reward stock earned. Once you've sold it, you must keep the cash value of the stock in your account for 30 days before withdrawing.
- This Robinhood referral bonus offer resets annually.
Covers Expert AnalysisRobinhood trading odds and fees
Unlike traditional online sportsbooks, users like you determine the value of a single-event contract, not Robinhood. For example, let’s say the Duke Blue Devils meet the Florida Gators in the 2025 March Madness NCAA National Championship game. If more users buy Duke contracts, the value of the contract will go up for future buyers, while Florida’s price will deflate.
Event contracts can be priced between $0.01 and $0.99, with prices moving as traders buy and sell each side. A contract priced near $0.50 can look similar to an even-money moneyline on a regular sports betting site, but Robinhood prices are driven by trading activity rather than sportsbook odds. You can also buy or sell contracts before they settle, which gives Robinhood more flexibility than a standard sportsbook ticket. Robinhood now uses a probability-weighted commission formula for event contracts, with commissions generally lowest near $0 or $1 and highest near $0.50. Exchange fees may also apply, so check the fee preview before placing a trade.
Robinhood customer service
We are hard-pressed to think of an online sportsbook with a more well-rounded and supportive customer service department than Robinhood's in 2026. Not only can you reach a knowledge agent 24/7 via live chat, but it also has a dedicated phone line that connects you to speak to a real person. Robinhood provides an extensive help center filled with a wide range of FAQs covering any minor query.
- Live chat: Available 24/7
- Email: support@robinhood.com
- Phone: 650-761-7789, available 7 a.m. to 9 p.m. ET Monday-Friday
- Support language(s): English
- X (Twitter): @AskRobinhood
Robinhood payment methods
Robinhood doesn't offer many of the top deposit and withdrawal options that you can find at traditional sportsbooks. Besides bank transfers, you can also create a Robinhood Crypto wallet to add and withdraw funds via Bitcoin (BTC) and Ethereum (ETH). This helps make up for missing popular providers such as Visa, Mastercard, PayPal and Play+.
| Method | Deposit | Withdrawal |
|---|---|---|
| Visa | ✅ | ❌ |
| Mastercard | ✅ | ❌ |
| Bank transfer | ✅ | ✅ |
| Ethereum (ETH) | ✅ | ✅ |
| Bitcoin (BTC) | ✅ | ✅ |
Robinhood is compatible with the EDGE Boost promo code COVERS, providing additional cash rewards with online sportsbooks, DFS, casinos, prediction markets, and more.
Best Robinhood promos by category
Although Robinhood doesn't provide any offers besides its current referral bonus of up to $200 in reward stock, you can still use those earned funds on the following top Robinhood trading categories:
Sports and Entertainment 🏀
Sports event contracts for 2026 remain one of Robinhood’s most visible prediction-market categories, with markets tied to game winners and other event outcomes across several major sports. Users can buy and sell contracts before settlement, giving the experience more flexibility than a standard sportsbook ticket.
Political Events 🗳️
The 2024 US Presidential Election was the first event Robinhood offered prediction contracts for. Robinhood did not provide any special promos for the race between Donald Trump and Kamala Harris. However, after its popularity, the online trading operator may expand its offerings for future political events.
Economic Indicators 💲
Exchange platforms like Polymarket and Kalshi helped popularize prediction contracts for inflation reports, GDP forecasts, and other economic indicators. Robinhood now lists economics as part of its broader Prediction Markets Hub, alongside sports, politics, crypto, commodities, financial markets, and other real-world event categories.
Robinhood Rewards and VIP perks
Robinhood offers a rewards program — Robinhood Gold — in 2026, which costs a $5 monthly or $50 annual subscription fee to join. We don't believe it has much value to sports bettors but could interest serious traders who utilize other aspects of the online platform with benefits such as:
- 4% APY — Annual Percentage Yield — on your uninvested brokerage cash.
- Significant instant deposit increases.
- Level II market data from Nasdaq.
- Interest-free on the first $1,000 of margin borrowed.
- Reduced fees on accounts managed by Robinhood Strategies.
How does Robinhood compare to stock and crypto trading?
Robinhood allows you to buy and sell cryptocurrencies, but it is definitely a more traditional stock trading platform than a crypto exchange. You cannot invest in stocks with crypto. However, you can freely buy and sell over 15 cryptocurrencies in 2026, including Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE).
Event trading is separate from both Robinhood’s crypto and traditional financial markets, as you can purchase March Madness event contracts with real money and receive your winnings instantly when the event ends.
Robinhood trading limits and liquidity
Robinhood starts the trading price per contract at $1, but since users drive the price, it can fluctuate based on the public's expected outcome for a given March Madness matchup. Robinhood limits you to 50,000 contracts per event, and you cannot simultaneously hold 'Yes' and 'No' contracts for the same game.
Recent Robinhood updates
Read below to get the latest news surrounding Robinhood in 2026:
June 5, 2026: Robinhood has launched World Cup prediction markets thanks to a new affiliate exchange market.
April 1, 2026: Just days after Washington sued the prediction market operator Kalshi in state court, Robinhood sued Washington in Federal court.
Feb. 11, 2026: Robinhood’s 4Q 2025 revenues grew by 27% year over year, but they were lower than Wall Street estimates.
Jan. 16, 2026: Robinhood launches 'custom combos' on prediction markets to mimic NFL parlays, with the new feature allowing users to build up to 10-leg contracts on pro football games.
Dec. 17, 2025: Robinhood unveiled a variety of new features related to its rapidly growing prediction markets, including preset and custom combos, which are akin to parlays at sportsbooks.
Dec. 7, 2025: Robinhood enters into agreements to acquire Buana Capital, an Indonesian brokerage, and PT Pedagang Aset Kripto, a licensed Indonesian digital financial asset trader, marking its entry into one of Southeast Asia’s fastest-growing markets.
Nov. 27, 2025: Robinhood agreed to halt Nevada sports prediction markets after a federal ruling denied its request for temporary relief.
Nov. 26, 2025: Robinhood acquires LedgerX to expand prediction markets amid overwhelming growth.
Nov. 6, 2025: Robinhood maintains momentum with a strong Q3, with revenue more than doubled compared to a year earlier, while net income climbed to $556 million, up from $150 million in the same quarter of 2024.
Oct. 23, 2025: Robinhood will introduce more than 100 new event contracts in the coming weeks, which will include sports, politics, and more.
Sept. 15, 2025: Robinhood filed a lawsuit against the Attorney General and the Massachusetts Gaming Commission to protect itself against legal complications following a lawsuit against prediction platform partner Kalshi.
Sept. 11, 2025: Robinhood CEO Vlad Tenev has stated that artificial intelligence (AI) will not eliminate the human element of trading, stating that AI will assist traders but not fully replace human decision-making.
Sept. 8, 2025: It's a significant milestone for both the company and the broader U.S. financial technology sector, as Robinhood Markets will replace Caesars Entertainment in the S&P 500.
Aug. 20, 2025: Robinhood Derivatives has sued gaming officials in Nevada and New Jersey for trying to prevent it from offering sports event contracts through the prediction markets platform KalshiEx.
Aug. 19, 2025: Robinhood Derivatives, LLC announced it will launch professional and college football prediction markets within its app for the 2025 seasons.
July 31, 2025: Robinhood beats Q2 estimates with a $989 million revenue surge, putting it up 45% largely due to major acquisitions and records highs in Gold subscribers.
July 23, 2025: Three federally-recognized California Indian tribes sued prediction market operator Kalshi and electronic trading platform Robinhood for offering sports betting, in violation of the Indian Gaming Regulatory Act (IGRA) and the Federal Wire Act.
July 7, 2025: OpenAI publicly rebuffed Robinhood's decision to offer tokenized versions of its private company shares to European users, with the company clarifying these so-called "OpenAI tokens" aren't genuine equity.
June 4, 2025: Financial services and future markets trading platform Robinhood Markets has completed a $200 million acquisition of Luxembourg-based cryptocurrency exchange Bitstamp.
May 28, 2025: The Commodity Futures Trading Commission (CFTC) is set to host a conference call with tribal leaders May 29th to discuss federally regulated prediction markets (such as Robinhood and Kalshi) and, presumably, the sports event contracts they offer.
May 1, 2025: Robinhood continues to break records as revenue soars by 50% thanks to an increase in net deposits, Robinhood Gold subscriptions, options volume, and year-over-year growth in trading across all asset classes.
March 17, 2025: After discussions with the federal government, Robinhood resumes its sports prediction markets for the 2025 March Madness tournament via a partnership with Kalshi.
Feb. 13, 2025: Robinhood strives for “regulatory clarity” on event contracts, including those involving sports.
Feb. 4, 2025: After pushback from the US Commodity Futures Trading Commission, Robinhood is cancelling its Super Bowl LIX prediction markets.
Feb. 3, 2025: Robinhood launches a new sports predictions market Super Bowl 59.
Dec. 5, 2024: Robinhood's CEO reveals that the company is contemplating expanding into sports betting through event contracts.
Oct. 29, 2024: Robinhood announces its first-ever event contract markets for the upcoming 2024 U.S. presidential election.
More prediction market sign-up bonuses
Although Robinhood operates in a niche lane in the U.S. sports betting industry, it does have its competitors. We've briefly outlined their current welcome bonuses below:
- PredictIt: Offers a $20 bonus with a $20 deposit for new users.
- Sporttrade: Claim up to a $100 bonus without a Sporttrade promo code.
- FanDuel Predicts: FanDuel teamed with CME Group to launch FanDuel Predicts in December 2025. Check out our FanDuel Predicts promo code review page to learn more
- Fanatics Markets: Fanatics partnered with Crypto.com to launch an online predictive platform. Check out our Fanatics Markets promo code review for more details.
- DraftKings Predictions: Check out our DraftKings Predictions promo code page for the latest offer details and a full review of the platform.
- Moon: Check out our Moon promo code page for the latest beta-access, promo-code, and prediction-market offer details.
- ROLR: The ROLR prediction market promo code will be live soon.
Robinhood promo code FAQs
There is no Robinhood promo code required to claim the trading platform's current no-deposit welcome bonus of up to $200 in reward stock.
Since there is no promo code for Robinhood sports, just sign up and link your bank account to your profile to receive the bonus.
No-deposit welcome bonuses like Robinhood's have very few terms and conditions attached. After receiving the bonus, you must wait three days before you can sell your free stock. Additionally, you must wait 30 days to withdraw any proceeds earned from your free stock.
Robinhood is legal and available to bettors in most states, plus DC.
Yes! Robinhood has a referral promo that allows you to earn up to $1,500 in reward stock every year by sharing your Robinhood invite link with friends. The Robinhood Gold premium membership also unlocks exclusive perks, but they are more for long-term traders.
At this time, you can trade event contracts across Robinhood’s broader Prediction Markets Hub, including sports, politics, economics, crypto, financial markets, commodities, climate, entertainment, and more. Sports markets can still resemble moneyline betting when the contract is based on a game winner, but Robinhood is a prediction market rather than a traditional sportsbook.
