Best NY Sportsbook Promos - $5,100 in Free Bets in March, 2023

New York sports betting launched in January 2022 and has quickly become the most lucrative state handle-wise. 

A big part of that is the welcome promos the top online sportsbooks offer, and here, we’ll cover those offers in terms of how to claim them, how we rated these top sportsbooks, and more.

How We Rated the NY Sportsbook Offers: Our Approach

Evaluating the best sports betting promos in New York goes beyond just looking at what an ad says. There’s plenty of information that you can uncover through the terms and conditions that make two offers that may advertise the same thing be quite different. 

Below are a few of the key factors we considered when reviewing the best NY sportsbook bonuses. 

• Value - Of course, the bonus funds/site credits you receive are important. That’s a good first place to start, but there could be more details to uncover. However, this is an excellent first step in assessing a welcome bonus. 

• Wagering requirements - Wagering requirements are important as they’re always relevant with deposit bonus offers. These requirements are a part of the terms and conditions that determine how much you need to wager before withdrawing the bonus funds received. For example, suppose an offer has 10x wagering requirements on the deposit and bonus. In that case, you’ll need to wager, in cash, whatever you deposit and the bonus you get multiplied by 10. So, if you have a 100% deposit bonus worth up to $1,000 with 10x wagering requirements and a deposit of $100, you’ll receive $100. With a $200 total, you’ll need to wager $2,000 in cash to withdraw the $100 bonus. 

• Deposit and withdrawal options - Taking note of deposit/withdrawal methods and times are important because you’ll need to ensure you have a method available to put funds in and take funds out of your account. Withdrawal times differ from sportsbook to sportsbook, too, even if they accept the same method. 

Why You Should Trust Us

WSN is a trusted source for online sports betting information. We have numerous staff writers with years of experience in sports betting and iGaming. In addition to this experience, we, first-hand, explore online sportsbooks and test them for ourselves to provide the most accurate depiction and review of the sites.

As for welcome bonuses, we not only look at what the ad reads but also meticulously browse the terms and conditions to ensure we’re recommending the very best offers. Inside the terms and conditions, you can learn things such as wagering requirements, how long you have to complete them, minimum deposits, and more.

A Closer Look at the Top NY Sports Betting Promotions

Whether you’re new to sports betting in New York or looking to add more online sportsbooks to your betting profile, we’ve got the top offers below. Here, we’ll discuss them further and provide all relevant information. 

Our Top Pick: Caesars NY Promo - Up to $1,250 on Caesars

At Caesars Sportsbook, you’ll receive a risk-free bet worth up to $1,250. The minimum wager required is $10. Additionally, you’ll receive 1,000 Tier and Reward Credits, which can be used to redeem retail and online sports betting perks. 

With this risk-free bet, it’ll be assessed on your first wager on the site. If you win, you’ll keep your winnings like any other bet. However, you’ll receive it back within two days if you lose.

What you receive back won’t be cash. Instead, it’ll be a free bet. You have 14 days to use the free bet. 

If you have the deposit to max out the bonus then this offer is unbeatable! Which is why it is our top pick.

Our Runner-Up: PointsBet NY Promo - 5 x $50 in Bet Credits

As a new player at PointsBet NY, you can claim up to $250 in in second chance bets with your first five wagers. To take advantage of this great offer, here is what you need to do:

1. Sign up to PointsBet using our exclusive link (no promo code needed).
2. Place a fixed odds bet of up to $50 for five consecutive days.
3. If you're first wager of each day loses, PointsBet will credit your account with the value of your bet (up to $50) in Bet Credits.

It's that simple! Who doesn't love second chances?

PointsBet also has some other great promos such as PointsBet Rewards, which can be redeemed for more free bets.

Our Other Recommendations

Fanduel NY - $1,000 No Sweat First Bet

Known as a No Sweat Bet, FanDuel offers players a $1,000 risk-free bet. Like Caesars, if you lose, you’ll receive free bets back equal to your first wager within 72 hours. You’ll have 14 days to use the No Sweat Bet. 

Like PointsBet, FanDuel does not enforce any wagering requirements on the free bet - which is great! 

BetMGM NY Promo - $1,000 Risk-Free Bet

BetMGM NY also offers a $1,000 risk-free bet. However, where it differs is how the free bets are distributed if you lose.

On wagers of $50 or less, you’ll receive a single free bet if your first wager loses. However, if you wager over $50, you’ll receive five bets equal to 20% of the total stake. So, if you wager $100 and lose, you’ll get five $20 free bets. 

Find more BetMGM bonus codes here.

DraftKings NY Promo - $1,000 Deposit Bonus

DraftKings Sportsbook offers a $1,000 deposit bonus, but there are plenty of terms and conditions to be aware of. The deposit bonus is a 20% rate up to $1,000, meaning you’ll need to deposit $5,000 to get the full $1,000.

However, you won’t receive the bonus funds right away. Instead, they’re stored in a pool you pull from per $25 wagered in cash. When you wager $25, you’ll get $1 in bonus funds.

For example, if you deposit $100, you’ll get a $20 bonus. Then, to get the full $20 in bonus funds, you’ll need to wager $500 in cash. 

This promo requires a bit more work to extract the value but it’s still free funds so well worth pursuing if you have exhausted the more lucrative NY sportsbook offers.

BetRivers NY Promo - $100 Risk-Free Bet

At BetRivers NY, you’ll receive a $100 risk-free bet. To get this offer, you must use promo code “SPORTS” during registration. You’ll get the $100 in free bets back within 24 hours if you lose your first wager. From there, you’ll have 30 days to use the free bet. 

You can only use the free bet on odds with -200 or longer. For parlays, each leg must be -200 or longer. 

While this BetRivers NY offer is not as lucrative as some of the other New York sportsbooks, it will be appealing to bettors that prefer a straightforward risk-free offer.

How to Claim a Bonus Offer at New York Sportsbooks

Claiming a welcome offer is simple and you shouldn’t be deterred by some of the terms and conditions attached. Below, we will take you step-by-step through the process of signing up for an online NY sportsbook, making your first deposit, and claiming your bonus.

1. Go to your chosen NY sportsbook. Be sure to click on one of our links in order to be able to claim the relevant bonus.

2. Find and click on the registration button.

3. During the registration process, input any promo code relevant to the promo offer. 

4. After that, make your first deposit. You’ll want to make sure it’s the minimum amount for the welcome offer.

5. After you’ve done both of those steps, you’ll have access to the welcome bonus. Depending on the offer, you’ll need to complete the associated terms and conditions.

For deposit bonuses, you’ll get a bonus after your first deposit. You’ll then need to meet the related wagering requirements.

For risk-free bets, you’ll want to make your wager after depositing. If you win, keep your winnings, but if you lose, you’ll receive it back in whatever form the online sportsbook allows. 

That’s it - it’s as simple as that!

Who Qualifies for NY Sportsbook Bonuses?

There are a few things to keep in mind when trying to redeem a NY sportsbook bonus. We have listed these below for you:

• Minimum age requirement (must be 21 in New York)

• Existing customers are usually not eligible for welcome bonuses

• Ensure you make the minimum deposit

• Use the offer within the amount of time it allows for

• You must be located within the borders of New York state

Different Types of Sports Betting Promos Explained

Free Bet

A free bet allows you to wager on a sporting event without wagering real money. However, with a free bet, you’ll only receive the winnings on a successful wager.

For example, if you have a $10 free bet and wager on something with +100 odds, you’d typically receive the $10 you wagered and the $10 from the winnings. 

However, with a free bet, you’ll get just $10 in winnings. 

Risk-Free Bet

A risk-free bet allows you to wager on something without running the risk of losing it altogether. When you wager using this and lose, you’ll receive your wager back. Depending on the sportsbook, it can either be a free bet or cash back. 

Deposit Bonus

A deposit bonus is exactly what the name suggests, a bonus given for making a deposit. The bonus is usually a percentage of the deposit, which ranges from sportsbook to sportsbook. However, the bonus funds you receive aren’t immediately withdrawable. Instead, you’ll need to complete the wagering requirements associated with them. 

No Deposit Bonus

A no-deposit bonus is straightforward: You receive bonus funds simply for creating an account. These may or may not have wagering requirements associated with them, but if they do, they’re typically no more than 1x. 

Parlay Boost

A parlay boost increases the overall payout of a successful parlay wager. This can be a fixed amount or a scaling boost based on the number of legs. 

Odds Boost

Odds boosts are something that online sportsbooks can mostly offer daily. These take odds from existing potential wagers and artificially boost them. This can provide a better opportunity to make even more profit. 

Common Sportsbook Bonus Terms & Conditions

Wagering Requirements

Wagering requirements are the terms and conditions associated with bonuses that stand between you and withdrawing bonus funds you receive. These can range from 1x to 10x or more. You’ll need to wager whatever the amount is in cash. 

Minimum Deposit

This changes from offer to offer, but most offers require a minimum deposit. This amount could even be different from what the minimum deposit at the sportsbook asks for with any general deposit. 

Minimum Odds

The minimum odds are essential to be aware of because if you don’t meet these requirements, it won’t count toward the offer. Looking at BetRivers as an example, you’ll need to wager on something with odds of -200 or longer. So, if you were to wager on something with -201 odds, it wouldn’t qualify for the offer. 

Maximum Bet

An online sportsbook can’t stop you from wagering whatever you want to, but if, for example, the risk-free bet is worth up to $1,000, your max bet before the value ends is $1,000. So, if you deposit and wager $1,500 on a $1,000 risk-free bet, you won’t qualify. 

Market Restrictions

With so many states legalizing sports betting, various online sportsbooks are available in multiple locations. With that, it may not have the same offers everywhere. So, the welcome bonuses you see here may be restricted to New York or a few other states. 

For some offers, you may also see restrictions on the contests you can wager on (odds-wise) and the type of bets. 

For example, some bonus funds may only be bet on contests with -200 odds or longer and bet types, such as futures, may not be allowed for the offer. This is different from offer to offer. 

Expiry Date

Welcome bonuses won’t last forever—they reach an end date eventually. Whether it’s the offer itself or the bonus you receive, these could have expiration dates. This is something to be aware of, so you ensure you use the bonus and/or funds within the appropriate amount of time. 

Can I Claim Bonuses From Multiple Sportsbooks in New York?

Yes, as long as you’re in New York, you can sign up at as many online sportsbooks as possible. Thus, you can redeem all available welcome bonuses if you meet the requirements. 

Do All NY Sportsbooks Have Betting Promotions?

Whether it’s a welcome bonus or existing player promotions, yes, most online sportsbooks in New York will have at least one offer available. Regardless of which online sportsbook you choose, you’ll likely run into at least one promotion to utilize. 

Final Verdict on NY Sportsbook Promos

New York has quickly become the epicenter for sports betting in the United States. With that, there are several bonuses available to use to your benefit. Not only that, but there are other New York-specific offers to utilize, too. 

There are numerous online sportsbooks to play at in New York, and with that comes thousands in value and upside to increase your online bankroll and bring in more profit.