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Best March Madness Betting Promos and Bonuses 2023

With the tournament in full-swing, we rank the best March Madness betting promos and bonuses of 2023.

Last Updated: Mar 20, 2023 9:49 AM ET Read Time: 6 min
Fans begin packing up and leaving Indianapolis on Tuesday, April 6, 2021, after the completion of the NCAA March Madness tournament.
Photo By - © Mykal McEldowney/IndyStar via Imagn Content Services, LLC

21+. Know When To Stop Before You Start. Gambling problem? Call 1-800-GAMBLER.

The most thrilling portion of the NCAAB season is here, and sports bettors can come out on top through to the national championship game by capitalizing on the best March Madness betting promos and bonuses.

With the iconic tournament underway and upsets aplenty in play, it's time to put your money where your bracket is. Here are the top sportsbook promos from the best March Madness betting sites in 2023.

Best March Madness betting promos

Here's a look at the current March Madness betting promos offered by legal U.S. sportsbooks:

Sportsbook March Madness Promo Offer Promo Code
1. bet365 Bet $1, get $365* No code - Claim $365
2. DraftKings Bet $5 to win $150* No code - Claim $150
3. FanDuel Bet $20, get $200* No code - Claim $200
4. Caesars Up to $1,250 on Caesars* COVERSBONUSFULL
5. BetMGM $1,000 back in bonus bets* No code - Claim $1,000
6. PointsBet 5 x $50 second chance bets* No code - Claim $250
7. BetRivers Up to a $500 bonus bet* SPORTS

*This offer is for new eligible U.S. customers only. Offers are not available to residents of Ontario, Canada.

March Madness betting promos explained

bet365 March Madness promo


Bet $1, get $365

No code required

Despite bet365 only being available in four states — Colorado, New Jersey, Ohio, and Virginia it boasts one of the best sportsbook promotions and bonuses, landing it atop our list. March Madness bettors can sign up and place a qualifying wager of $1 to get $365 in bet credits  regardless of whether the wager wins or loses. Here’s all you need to know about the bet365 March Madness promo:

  • This bonus is only for eligible and first-time users in Colorado, New Jersey, Ohio, and Virginia. No bet365 promo code is necessary, nor is any March Madness promo code.

  • You must deposit at least $10 before claiming the March Madness promo.

  • Your $1 qualifying wager can be placed on any sports market, but it must be done within 30 days of registration.

  • Your initial wager must contain one selection with odds of -500 or greater.

To discover more about the sportsbook in its entirety, read our bet365 Sportsbook review.

DraftKings March Madness promo


Bet $5 to win $150

No code required

The DraftKings March Madness promo allows new users to earn $150 in bonus bets, but you'll have to win the wager to score the bonus bets. Make a first deposit and wager of at least $5 to get started. Here's the critical fine print you should know before registering with one of the best sports betting apps in the U.S.:

  • When signing up, you must confirm your location and identity — be sure to have basic personal information ready. No DraftKings promo code is needed.

  • An initial deposit of $5 or more is necessary, followed by a bet of $5 or more on any pre-game moneyline.

  • If you win, you'll get $150 in bonus bets once the qualifying bet settles.

  • If your wager wins, you keep your winnings as well as the bonus funds.

Scour through our DraftKings Sportsbook review for further details.

FanDuel March Madness promo


Bet $20, get $200 in bonus bets

No code required

Users new to FanDuel can claim its Big Dance-focused offer when March Madness tips off. Following registration, bettors can place a wager on any sports market. Regardless of its outcome, FanDuel will credit you 10x the amount wagered, up to $200, as bonus bets. Here are the FanDuel March Madness promo details:

  • This March Madness betting promo is only for new FanDuel users in one of the 19 states — excluding Massachusetts — where the sportsbook is active. No FanDuel promo code is necessary.

  • Downloading the FanDuel app is required to obtain this bonus. You will be prompted to do so after signing up on either desktop or the mobile app.

  • A first deposit of $10 or more and an initial bet on any sports market are needed to qualify for the March Madness promo.

  • Regardless of whether your wager wins or loses, FanDuel will issue you 10x your stake, up to $200, in non-withdrawable bonus bets. So, if you want to maximize the bonus, you'll need to bet $20.

  • The bonus bets will expire unless they are used within 14 days.

Take a look at our thorough FanDuel Sportsbook review for more expert insight.

Caesars March Madness promo


Up to $1,250 on Caesars


The Caesars March Madness promo offer is as lucrative as they come. Input March Madness promo code COVERSBONUSFULL during registration to unlock up to $1,250 on Caesars. Here are the specifics:

  • Use the active Caesars promo code to claim the bonus — COVERSBONUSFULL or COVERSFULL in New Jersey.

  • Following sign-up and an initial deposit of $10 or more, you'll have 30 days to make your qualifying bet.

  • If your first wager flops, Caesars will reimburse you, up to $1,250, in the form of a bet credit.

  • Your bonus will be delivered as one (1) bet credit that cannot be broken up into smaller bets.

  • Additionally, you will get 1,000 Caesars Rewards® Tier Credits and 1,000 Caesars Rewards Reward Credits. They will arrive in your account within seven (7) days of your failed initial wager settling.

  • Once it is in your account, you will have 14 days to use the bet credit.

Itching to find out more? Check out our complete Caesars Sportsbook review.

BetMGM March Madness promo


$1,000 back in bonus bets

No code required

Offering one of the best March Madness betting promos, new users can sign up with BetMGM to claim a high maximum-value opportunity  up to $1,000 back in bonus bets. Here’s the complete BetMGM March Madness promo breakdown:

  • This March Madness promo is only for new BetMGM users — excluding those in Mississippi, Nevada, and New York. You don't need a BetMGM promo code or any unique March Madness promo code here.

  • A minimum deposit of $10 or more must be made to your new account, followed by an initial bet of up to $1,000. Once done, you'll qualify for the second chance bet.

  • Should your first wager go down in flames — and you bet more than $50 — bonus bets will be supplied to your account in five (5) chunks. If your qualifying wager is less than $50, BetMGM will give you a single bonus bet. For example, if you bet $300 and lose, you will acquire five $60 bonus bets. Alternatively, if you risk $20 and lose, BetMGM will issue you one $20 bonus bet.

  • Bonus bets will appear in your account within 24 hours of your losing wager settling.

  • Individual bonus bets must be wagered within seven (7) days of the date they arrive in your possession.

Dissect our BetMGM Sportsbook review for more actionable intel.

PointsBet March Madness promo


5 x $50 second chance bets

No code required

If you're looking for flexibility, you'll find plenty of it with Australia-based operator PointsBet. Before and during this year's March Madness tournament, new bettors can nab up to $250 in second chance bets to use on the Big Dance. Here's a closer look at the PointsBet March Madness promo:

  • Like most other sportsbooks, neither a PointsBet promo code nor a March Madness promo code is needed here.

  • You will get a second chance at success, up to $50, each time your initial fixed odds wager loses over your first five days of betting with PointsBet. So, if all five bets fail, you'll receive $250 total to spend.

  • Each second chance bet you acquire can be further broken into up to four (4) separate bets.

  • Each bonus amount will appear in your account within 24 hours of your bet settling.

  • Bonus bets will expire unless used within seven (7) days.

Our PointsBet Sportsbook review explores other elements of the sportsbook you'll find valuable for your March Madness betting.

BetRivers March Madness promo


Up to a $500 bonus bet


Closing out our list of the best March Madness betting promos and bonuses, BetRivers joins the pack with a solid proposition up to a $500 bonus betHere are the vital terms and conditions you should have in mind before snagging the BetRivers March Madness promo this tournament season:

  • A specific March Madness promo code isn't necessary, but you will need to plug in the active BetRivers promo codeSPORTS — during registration.

  • An initial deposit of $10 or more is required. 

  • Within 24 hours of your qualifying wager losing, you will receive up to a $500 bonus bet in your new BetRivers account.

  • Any bets placed with bonus funds cannot have odds less than -200.

  • There is a 1x rollover requirement connected to the offer, meaning you'll need to wager all bonus funds once before you can make a withdrawal.

  • If unused, bonus funds will expire after 30 days.

Dive into our BetRivers Sportsbook review to uncover more information about the platform as you research March Madness betting promos and bonuses. 

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