Robinhood Promo Code: Up to $200 Bonus in 2025

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Robinhood promo code summary for this week

Robinhood promo code terms and conditions

You can secure the current Robinhood promo code welcome offer in minutes, but there are several prominent terms you should know before claiming:

• 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 stick 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.

Coming soon

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

Up to $200 in Reward Stock

No Code Required

Coming soon 

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

"While the potential upside of the Robinhood promo code offer is alluring, it's worth noting that 99% of new users only receive the $5 welcome bonus."

Carson Deveau, Betting Editor

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 least 18 years old. 

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: 

Robinhood app review

The Robinhood app is one of the world's best mobile trading platforms in 2025 and is free to download on the App Store and Google Play Store. We love its clean interface, allowing you to browse the sports betting app and seamlessly buy, sell, and trade event contracts. We also appreciate how streamlined the banking process is on mobile, as you can fund or withdraw from your sportsbook app account in a few simple taps. 

The public echoes our high praise of the Robinhood app, as over five million iOS users rated the platform a 4.2/5 on the App Store. Android users feel similarly, giving Robinhood a 4.2/5 rating based on over 500,000 reviews. 

Robinhood iOS app

Robinhood promo comparison

	Robinhood	Kalshi	ProphetX	Novig
Welcome bonus	Up to $200 in Reward Stock	$10 Bonus	Up to 300 in Prophet Cash	1,000 Novig Coins & five Novig Cash
Promo code	No code required	COVERS	COVERS	COVERS1000
Bonus type	No-deposit	Trade and get	Play and get	No deposit offer
Bonus form	Up to $200 in reward stock	One (1) $10 bonus	2% bonus back on every play for 30 days	1,000 Novig Coins & five Novig Cash
Payout speed	Within 24 hours	Within 24 hours	Within 24 hours	Within 24 hours
Min. deposit	$1	$1	$10	$5
Covers BetSmart Bonus Rating	⭐ 3/5	⭐ 4.2/5	⭐ 4/5	⭐ 4.6/5

What markets can you trade on Robinhood?

Since Robinhood is the new kid on the sports trading block, beginning to offer sports contracts for the men's and women's 2025 March Madness NCAA tournament. Robinhood has expanded its coverage thanks to its partnership with Kalshi, offering single-game betting markets — which act similarly to moneyline betting — for the ongoing 2025 NHL and NBA Playoffs. 

We hope that Robinhood will offer these types of contracts for football (NFL), baseball (MLB), F1, tennis, soccer, golf, and additional top sporting events in the future. 

Robinhood initially emerged for the 2024 U.S. presidential election, becoming one of the few available political betting sites for the event. 

Robinhood live event trading

Robinhood's single-event contracts for March Madness 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 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:

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 stick 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 Analysis

"Bookmark this section, as we'll be closely monitoring the online trading platform and provide updates if it adds one of the best sportsbook rewards programs, market boosts, bonus stocks, or any other type of promo in the future. "

Carson Deveau, Betting Editor

Robinhood 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. 

The market price for both teams in a given game starts at $0.50, representing an even moneyline you'd find on regular online betting sites, incentivizing you to buy early to get the best value on a favorite. However, the markets are open until the end of the game, allowing you to buy and sell contracts during the match the same way you would live bet on sports. Robinhood's platform incorporates small trading fees of $0.01, which is far better than the house edge that traditional online sportsbooks typically charge.

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 2025. 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+.

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 the 2025 NHL and NBA Playoffs are Robinhood's newest markets in 2025. You can buy and sell predictions for a single-game event throughout each round of the playoffs for both sports.

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 offer prediction contracts for inflation reports, GDP forecasts, and other economic indicators. Robinhood doesn’t provide these markets yet, but they will surely be one of the next significant trades offered in the coming months. 

Robinhood Rewards and VIP perks

Robinhood offers a rewards program — Robinhood Gold — in 2025, 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 2025, 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 2025: 

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 predictive 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:

• Kalshi: Offers a $10 bonus when registering with the Kalshi promo code 'COVERS'. 
• Polymarket: Offers referral program perks for inviting friends and rewards for users who contribute to liquidity.
• PredictIt: Offers a $20 bonus with a $20 deposit for new users.
• Sporttrade: Claim up to a $100 bonus without a Sporttrade promo code.