Top Sportsbook Promos for August – Best Bonus Codes & Welcome Offers
Sportsbook promotions can have an immediate impact on a bettor’s bankroll when starting off at a new sportsbook. This guide covers current betting offers from licensed U.S. sportsbooks, including sign-up incentives and ongoing promotions available through ATS.io. Featured operators include DraftKings, FanDuel, BetMGM, Caesars, and bet365, and you can find our insights into their sportsbook promos right here. Offer details, eligibility requirements, and wagering terms vary by sportsbook and jurisdiction.
Best Sportsbook Promotions & Bonus Codes (Updated on August 31, 2026)
| Sportsbook | Promotion Offer | Promo Code | Minimum Deposit | Wagering Requirements | Expiration |
|---|---|---|---|---|---|
| BetMGM | ATSBONUS1500 | $10 | 1x bonus bet amount | 7 Days | |
| Bet365 | Bet $10, Get $365 in Bonus Bets Win or Lose Gambling Problem? Call 1-800-GAMBLER. Deposit required. Paid in Bonus Bets. Bonus Bets wager excluded from returns. New Customers only. T&Cs, time limits and exclusions apply. | Click to Claim | $10 | 1x bonus amount | 7 Days |
| BetRivers | Second chance bet up to $500 | BONUSPLAY | $10 | 1x bonus amount | 30 days |
| DraftKings | Spend $5+ Get $150 in Bonus Bets | Click To Claim | $5 | Bonus bets must be wagered once | 7 Days |
| FanDuel | Bet $5 Get $200 in Bet Reset Tokens for 5 Days (Up to $1,000 Bet Reset Tokens) | Click To Claim | $10 | 1x on bonus bets | 14 Days |
| Caesars | Bet $1, Double Your Winnings 10x | CLICK TO CLAIM | $10 | 1x on returned stake (if bet loses) | 14 Days |
| Fanatics | 10 x $100 Bet Match In FanCash | Click To Claim | $10 | 1x each bonus bet | 7 Days |
Affiliate Disclosure
ATS.io uses affiliate links. If you sign up through a link on this page, we may earn a commission at no additional cost to you. Rankings are based on hands-on testing and published criteria, and affiliate relationships do not determine placement.How We Evaluate Sportsbook Promotions
Sportsbook promotions are evaluated based on overall value and usability for bettors, not just headline bonus amounts. Factors considered include wagering requirements, eligible bet types, odds restrictions, minimum deposit thresholds, expiration periods, and whether bonus bets return stake or winnings only. Offers that are simpler to use and easier to convert into withdrawable winnings are prioritized over high-value bonuses with restrictive terms.
Latest Sportsbook Promos
Sportsbook Bonuses Available By State
Want to see the best sportsbook bonuses available in your state? Check out our full list of state-specific bonus pages below.
Legal sports betting promos by state
Ranking the Best Sportsbook Promos For New Users
1. bet365
What I like most about the bet365 sportsbook bonus is that they typically pay out in bonus bets whether your first bet wins or loses. In my testing of this offer, I bet on the NCAA Tournament and won my initial wager for $10. As soon as my bet settled, I received both my winnings from the original wager and my bonus bets, which I was then able to use immediately on another tournament game.
2. Fanatics Sportsbook
The Fanatics Sportsbook promo code often works similarly to the offer at bet365, where bonus bets are awarded whether your first bet wins or loses. The bonus bets at Fanatics are awarded as FanCash, which can be used to purchase sports merchandise and memorabilia from Fanatics. Those that know me know that I always love an opportunity to buy more sports jerseys, so that system is great for me, but the higher first bet amount might not be everyone’s cup of tea.
3. DraftKings Sportsbook
The reason that the DraftKings Sportsbook new user bonus is lower than the first two sportsbooks in these rankings is the fact that DraftKings switches its promotional terms back and forth on a regular basis. Sometimes, bettors receive their bonus bets instantly, just for placing their first bet. Other times, bonus bets are only awarded if your first bet wins. I would appreciate more consistency on that front, though there is often value to be had regardless with the boosted odds that come with a bet and get promo.
4. FanDuel Sportsbook
I generally hold FanDuel Sportsbook in high regard as a bettor, as their selection of betting markets is hard to match. But the FanDuel Sportsbook bonus for new customers is also usually contingent on a player winning their first bet. That requires you to be more risk-averse when placing your first bet at FanDuel and doesn’t allow you to take advantage of the long list of prop options available on the site, which is a shame.
5. BetMGM
The BetMGM First Bet Offer promo is fine for what it is. New customers place their first bet at BetMGM and, if it loses, they receive their first bet amount back in bonus bets. I don’t love that this bonus is only triggered if a player loses their first bet. But I did lose my first bet at BetMGM on the New York Knicks and was able to use the bonus bets to place a winning wager after, so the promotion worked as intended for me.
6. Caesars Sportsbook
I give Caesars some credit for being creative with their Caesars Sportsbook promo code. The current format of their bonus is definitely different from what you are seeing at other sportsbooks with their typical bet and get and second chance bet offers. But their current offer is more convoluted than what is available at most other sites and a simpler approach may do them some good as far as I’m concerned.
7. BetRivers
It’s hard for me to understand what BetRivers Sportsbook is going for with its sportsbook promotion for new customers. Going with a second chance bet offer, but doing so for far less than what is available at a site like BetMGM is baffling, as there is no sense of urgency generated to try this sportsbook over one of its competitors. This is a solid offer, but certainly not one I’d rush to try over any of the others on this list.
How to Use a Sportsbook Promo Code
Using a sportsbook promo code is a great way to boost your betting experience but getting the most out of it means following a few important steps. Here’s how to make sure you claim your bonus the right way:
1. Choose the Right Promo
Before signing up, take a little time to compare different sportsbook offers. Some promos match your style better than others. Once you’ve picked the offer you like best, keep the promo code handy for registration.
2. Sign Up for an Account
Head to the sportsbook’s website or app to start creating your account. You’ll need to enter basic information like your name, date of birth, address, phone number, and email. Make sure to enter your promo code when asked some sportsbooks ask for it during sign-up and others right after.
3. Verify Your Identity and Location
State laws require sportsbooks to confirm who you are and where you’re betting from. You’ll be asked to upload a government-issued ID like a driver’s license. The site will also use geolocation services to check that you’re inside a legal betting state. Without completing these checks, you won’t be able to place bets.
4. Make a Deposit
Once your account is verified, it’s time to fund it. Different sportsbooks accept different deposit methods, so check their options first. Choose the one that works best for you and make your first deposit.
5. Claim Your Bonus
How you unlock your bonus depends on the promo you chose. Here’s a quick guide:
- Deposit Match: You’ll get bonus credits once your deposit goes through.
- Bonus Bets: After meeting small requirements, like placing a first wager, bonus bets will be credited.
- First-Bet Insurance: If your first bet loses, the sportsbook refunds your stake with bonus credits.
Always make sure you enter the promo code when required and meet all the conditions to activate your bonus. Keep in mind that bonus credits usually expire between 7 to 21 days after being issued, so plan to use them before they run out.
Following these simple steps will help you make the most of sportsbook promo codes and maximize the value of every bet you place.
Types Of New User Sportsbook Promos
Just about every online sportsbook, casino, or social casino in the industry will give you a welcome bonus: a sign-up promo when you make your first deposit. Many of the legal gambling sites now give those bonuses to you in the following ways:
- No Deposit Bonus – Very popular among online casinos, sweepstakes casinos, DFS sites, and, in some cases, sportsbooks. This bonus allows users to try the site out by completing a new user registration.
- First Bet Offers – The most common sportsbook promotion for legal US sportsbooks, bettors can place a first wager and receive bonus bets back if the bet loses.
- Bet & Get or Bet & Win is a newer bonus offered throughout the US for first-time users. Users place a wager and get additional bonus bets to try out the betting site.
- Deposit Match – Rare amongst online sportsbooks but common among real money casinos and DFS sites. Users make a deposit and get a match in bonus or site credit up to a certain percentage of the deposit.
- Odds Boosts – Unique to sports betting sites only, new and existing users are treated to improved odds on a sports event or prop.
- Existing User Bonuses – player perks for another deposit, login bonus or rewards based on play.
Existing User Sportsbook Promotions For: August 31, 2026
| Sportsbook | Promotion Name | Description | Key Details |
|---|---|---|---|
| BetMGM | Refer a Friend | Earn a $100 bonus for each friend you refer who registers and meets the requirements. | Up to 20 referrals per month; maximum of $2,000 in bonuses. |
| BetMGM | EPL Early Payout | Receive an early payout if your team takes a 2-0 lead in EPL Match Result bets. | Available on select EPL matches; terms apply. |
| BetMGM | NBA First Field Goal Cashback | Get cashback if your NBA First Field Goal bet doesn’t hit, but your player scores the second field goal. | Available on Fridays; terms apply. |
| BetMGM | Parlay Boost Token | Enhance your potential payout with a Parlay Boost Token. | Check your account for available tokens; terms apply. |
| FanDuel | Refer a Friend | Both you and your friend receive a $75 bonus when they sign up and place a qualifying bet. | Maximum of 10 referrals; terms apply. |
| DraftKings | Daily Odds Boosts | Access daily odds boosts on various sports and events. | Offers vary daily; check the promotions page for current boosts. |
| bet365 | Early Payout Offers | Get early payouts on select sports if your team leads by a certain margin. | Available on specific sports and leagues; terms apply. |
| Caesars | Profit Boosts | Receive profit boosts on select events and markets. | Offers vary; check the promotions page for current boosts. |
Strategies for Maximizing Sportsbook Promos, With Expected Value Analysis
Sportsbook promos can look generous on the surface, but the real value depends on how efficiently you convert bonus funds into withdrawable cash. Smart bettors focus on expected value (EV), the long-term mathematical value of a promotion after accounting for rollover requirements, odds restrictions, and conversion rates.
Understanding Bonus Expected Value (EV)
A simplified EV formula:
EV = (Bonus Amount × Conversion Rate) − Expected Losses
Where:
- Bonus Amount = total promo value
- Conversion Rate = percentage realistically converted into cash
- Expected Losses = wagering losses incurred while clearing the bonus
Bet-and-Get Bonuses
Example: Bet $5, Get $150 In Bonus Bets
These are typically the highest EV sportsbook promos available because the qualifying wager is small relative to the reward.
Best Strategy
- Place the qualifying bet on a high-probability market
- Example: -300 to -500 favorite
- Avoid volatile parlays
- Use bonus bets on:
- Longer odds (+300 to +600)
- Markets with reduced hold
Why Longer Odds Matter
Bonus bets usually return winnings only, not the stake amount.
For example, when using a $100 bonus bet at +100
- Profit if won: $100
- EV capture rate: ~50%
And when using a $100 bonus bet at +400
- Profit if won: $400
- EV capture rate: ~70%
Estimated EV For a Bet and Get Offer
- Bonus: $150
- Conversion rate: 65–75%
- Qualifying bet loss expectation: ~$1–$3
EV = (150 × 0.70) − 3 = 102
Estimated True Value:
~$95–$105
Second-Chance Bets
Example:
- Bet $1,000
- Get refund in bonus bets if you lose
These are high EV offers if used correctly.
Best Strategy
- Bet on markets close to fair value
- Hedge on another sportsbook/exchange when possible
- Target outcomes where:
- You lose the first bet
- Receive bonus refund
- Convert bonus efficiently
Approximate EV
Refund bonuses usually convert at 65–75%.
Example:
EV = 1000 × 0.70\timesP(Lose)
If the original wager is near a coin flip:
EV = 1000 × 0.70 × 0.50 = 350
Realistic EV:
~30–40% of refund amount
As you can see, bet and get offers carry a higher expected value relative to what you are risking. As a result, we have those offers ranked the highest in our ranking of sportsbook promos above.
Sportsbooks don’t just reward new users. Loyal players can grab plenty of great deals too. From boosted odds to bonus bets and referral bonuses, there are plenty of ways to keep stacking value after you’ve taken advantage of a new user bonus. We’ve pulled together the best ongoing promotions from top names like BetMGM, FanDuel, DraftKings, bet365, and Caesars below.
Sportsbook Bonus FAQ
Sportsbooks offer bet-and-get deals, first-bet insurance, deposit matches, odds boosts, and bonus bets to attract and reward new and existing bettors.
With these offers you place a small qualifying bet, usually $5 or more, and receive bonus bets of a higher value (e.g., $150–$250) that you can use on future wagers, regardless of the outcome.
Some promos require a bonus code at signup or deposit, while others are auto-applied when you register via a promotional link.
Usually no – bonus bets must be used on wagers first, and only winnings from those bets are withdrawable. Terms vary by sportsbook.
Top welcome offers currently include DraftKings, FanDuel, BetMGM, bet365, Fanatics, Caesars, and others with varying bet credits, insurance, and match bonuses.
Most promos require a minimum deposit (often $5–$10) and qualifying bet at specified odds (like -500 or longer), so check specific sportsbook terms before betting.
Promos vary by state legal regulations; some offers are limited to markets like NJ, PA, or MI, and others exclude certain regions entirely.
Bonus bets typically expire within 7 days of issuance unless otherwise stated, so timing your wagers is crucial.
Bonus bets are promotional credits that can be used to place wagers, but you only withdraw net winnings, not the stake itself.
