Eight of the nation's largest sports betting apps launched in North Carolina earlier this month, all with enhanced offers available to new North Carolina users.
These promotions can be used for any game including the Sweet 16, MLB Opening Day, NBA, and more.
We'll explain the four main types and how much cash you can actually earn on average by claiming the promotion. We've already detailed how to best use your sign-up bonus here.
NC Sportsbook App: Actual Cash Value vs. Advertised.
| sports book | offer | maximum promotion value | Actual estimate* |
| 1. Fanatics Sportsbook | $1,000 Bet Match | $1,000 | $545 |
| 2. Underdog NC | First bet $1,000 mulligan | $1,000 | 400 dollars |
| 3. Bet365 NC | $200 bonus bet or $1,000 first bet insurance | $1,000 | 400 dollars |
| 4. ESPN Bet NC | Bet anything and get a maximum deposit match of $225 + $500 (currently 10% cashback rate) | $725 | $408* |
| 5. DraftKings NC | Bet $5 and win $250 | $250 | $150 |
| 6. Caesars NC | Bet $10 and win $250 | $250 | $150 |
| 7. FanDuel NC | Bet $5 and win $200 | 200 dollars | $120 |
| 8. BetMGM NC | Bet $5 and win $150 | $150 | $90 |
*Estimate the actual maximum cash value of these offers
Sportsbooks often promise hefty bonuses through first bet insurance offers and deposit matches, but how much are they really worth? We'll do our best to break it down for you below. Masu.
Bonus bet: If you optimize your bonus bets by betting on plus money underdogs in the +300 to +500 range, you can turn around 60-70% of your bonus bets into cash over the long run. So your $200 in bonus bets could be worth ~$130. However, most people do not utilize bonus bets optimally, so sportsbooks only pay out about 30% of all bonus bets. So a $200 bonus bet will cost you around $60.
insurance: These first bet offers are hard to value, so if you make a $1,000 first bet at +250 and win, you've won $2,500. If the first bet loses and subsequent bonus bets he also loses, you could be left with $0.
There is a hedging method that locks in about $400 from your first $1,000 bet. This is a big investment that most people don't do, as he has to bet more than $4,000 on the other side of his initial bet of $1,000. However, I think it's safe to say that the cash value is about 40% of the insured amount.
Deposit match: Most deposit matches come with rollover or playthrough requirements. This means you can't deposit, get a match, and withdraw immediately.
Some matches have more rollover than others. Assuming the stakes are all -110, the maximum value offered is estimated to be the amount minus the amount he would lose if he hit 50% of the stake reaching the rollover requirement.
Try out ESPN BET Deposit Match. Let's say he deposits $250 to reach the maximum amount and earns $500 in eligible cashback. It comes with a 10x rollover and you must bet a total of $5,000 ($500 x 10) in your first 30 days to win the full match.
If you place a $50, $100 bet all at -110 and end up 25-25, you'll lose an average of about $227 in cash on those bets, but you'll gain $500. So, according to this estimate, your deposit match is actually only worth about $273. With ESPN BET, at least you receive real cash and not bonus bets.
Bet match: As with deposit matches, consider how much it costs to get the maximum match and assume your bet has a 50% chance of winning.
If you place a $10 bet on Fanatics and end up winning 5 and losing 5, you'll lose about $55 in cash. However, with a bonus bet he can win $1,000. There is no guarantee that you will get a 5-5 result, but use that as an estimate.
Assuming you convert your $1,000 bonus bet to 60% cash, you would have won $600 minus the $55 you lost, or $545 in cash.
1. Fanatics Sportsbook Promotion: $1,000 Bet Match
At Fanatics, 10-day $100 bet match, total potential FanCash of $1,000: During your first 10 days on the platform, your first bet of the day will be paid in FanCash up to a maximum of $100. Therefore, if he bet $100 as his first bet on day 1, he would win $100, and if he bet $25, he would win $25.
Of course, if you bet up to $100 every day for a full 10 days, your bet match will be worth more. As detailed above, if you take full advantage of this offer, it's estimated to be around $545 in cash.
Even if you win 5 and lose 5 on a $100 bet, you'll lose about $55 in cash, but your bonus bet will be $1,000. And when he converts these bonus stakes into cash at a rate of 60%, he ends up with just over $550 in cash.
2. Underdog Promotion: $1,000 mulligan on your first bet
As detailed above, if you max out a $1,000 insurance bet and hedge it with another book, it's worth about $400 in cash. I don't necessarily recommend it, but I think it's a fair way to measure value.
3. bet365: $200 or $1,000 First Bet Insurance
bet365 offers two sign up bonuses to choose from in every state, including North Carolina.use bet365 bonus code NYPNEWS Choose the safety net for your first $1,000 bet or win a $5 bet and get a $200 offer.
- The safety net for your initial bet of $1,000 will refund you a bonus bet equal to the amount you lost if your initial bet loses.
- For a $5 bet, you get $200 (make sure the odds of your first bet are -500 or higher, i.e. -400 is OK, -600 is bad).
As explained above, if you bet up to the maximum, your first $1,000 bet could be worth about $400 in cash for a large sample. So, get insurance if you plan to make the most of it. However, if you just want to wager the bonus, choose $200.
Four. ESPN BET Promo Code: Get $225 and $500 Deposit Match
ESPN BET has two parts that add real value
- Get $225 in bonus bets after cash with ESPN BET promo code NPNEWSNC.
- No matter what, you can earn up to $500 in eligible cashback on your first deposit. Whatever you put in, it will add 200% up to $500.
Cashback is unlocked 10% at a time, and you only have 30 days to unlock it all. We estimate that the value of your deposit match will be around $222, as you will gradually lose juice if you bet against the wagering requirements. The current cashback rate is 10%, so this amount has increased significantly. Last week it was 5%.
Five. fan duel Promotion: Win $200 when you bet $5
FanDuel's offer is simple. Just deposit $10 and bet $5 to get $200 in bonus bets. No promo code is required to receive this offer.
FanDuel lowered this bonus from $250 to $200 this week, and we expect other books to follow suit with reduced offers as the NCAA Tournament concludes.
6. DraftKings: Bet $5, Win $250
For new users, DraftKings offers the same deals as FanDuel. Bet $5 to get a $250 bonus bet.
7. Caesars Sportsbook Promo Code: Win $250 when you bet $10.
with promo code NYP News NC, you can win 5 $50 bonus bets with just a $10 bet. Make sure your first bet is at least $10. Otherwise, the offer will expire.
8. BetMGM Promo Code: $150 Bonus Bet
BetMGM Bonus Code NYPNEWS After a $5 bet, you can win $150 in bonus bets.
These bonus bets will be returned to you in 6 increments of $25 each. Bonus bets are available for use for 7 days.
