Best March Madness Betting Promos & Bonuses 2023

Aside from the Super Bowl, nothing is bigger than March Madness! The NCAA Tournament, like the Super Bowl, will be watched world wide. If you plan on biting off a piece of the action, this page is your one-stop shop for finding the best March Madness promo codes and bonuses offered by legal sportsbooks in the United States!

After finding the best sportsbook bonus, you'll want to check out our March Madness Betting Guide for 2023, made by our in-house experts. If you need help watching the Big Dance this year, check out our March Madness Hub Page, which has previews for every game along with how-to-watch information.

Need more March Madness? Then head over to our Best Betting Sites page, where we share all the best legal sportsbooks bettors can use to place bets, participate in bracket contests, and more this March.

Keep reading below for all the best bonuses and promotions.

Don't Miss the Free to Enter: $2,300 WSN Bracket Challenge

FanDuel Sportsbook March Madness Promo

Bet $20, and get $200 at FanDuel

New users at FanDuel will get $200 in bonus betting credits regardless of their bet wins or loses on March Madness as long as it is $20 or more. There is no better way to kick off the NCAA Tournament than with $200 in free bets.

Once your bet of at least $20 is placed, you'll see the $200 in site credits added to your account. While those funds cannot be withdrawn, you can play with them just once on the FanDuel sportsbook to turn them into cash. 

With March Madness kicking off and weeks of great college basketball games ahead of us, an extra $200 can go a long way.

Use our custom link to Sign up with FanDuel today to get your $200 in bonus betting credits!

DraftKings Sportsbook March Madness Promo

Bet $5+ Win $150 at DraftKings

If you are new to DraftKings, take advantage of this offer! Bet $5+ on any college basketball money line and win $150 in free bets if your team wins. This deal is on top of their other promotions, which can be combined with another of the fantastic promotions for the DraftKings Sportsbook.

Be sure to do some research before picking a game to give yourself the best chance at winning $150 in free bets. While picking a heavy favorite is safe, your winnings will be small. Plus, no favorite is ever truly safe in March Madness.

DraftKings Deposit Bonus Match Up to $1,000

New users will also get a 20% deposit match on their first deposit at DraftKings up to $1,000. DraftKings Sportsbook is quickly becoming the largest sportsbook in the United States, and they got that way by offering excellent bonuses and promotional deals to new users!

Simply create a new account for the DraftKings Sportsbook, and they will match 20% of your initial deposit of up to $1,000. That means if you sign up and deposit $100 into your account, you'll receive $20 in DraftKings Dollars. They work as a site credit that can be used to place bets. 

Be sure you use your DraftKings Dollars within 90 days of receiving them. These site credits can only be withdrawn for cash if they have been used first on a bet within the first 90 days. With a month of March Madness ahead of us, hitting that play-through requirement should be easy!

Check out some of the best DraftKings sign-up offers for March Madness that you can take advantage of right now below!

BetMGM Sportsbook March Madness Promo

$1,000 in Bonus Bets at BetMGM

New users at BetMGM will have their first bet covered up to $1,000 just for signing up. When a new user places a first bet, and it loses, BetMGM will give that user up to $1,000 back in BetMGM bonus betting credits. That extra insurance of a refund in betting credit makes this a very exciting offer.

Those betting credits will be deposited into your account within 24 hours after the completion of your first bet. These bet credits can be used to place more bets on March Madness games or any of the many sports that BetMGM covers. Be aware that these bet credits must be used within 14 days of being added to your account, or they will expire.

Anything you win using these credits will be available to be withdrawn for cash. While you can't cash out your bet credits, they will allow you the chance at cash prizes.

This incredible deal essentially gives you a no-sweat bet for your first BetMGM Sportsbook bet. Sign up today to take advantage before March Madness tips off on Tuesday, March 14

Caesars Sportsbook March Madness Promo

$1,250 Caesars Promo with Promo Code WSNFULL

With your first bet protected up to $1,250, Caesars is helping new users go big with their best. Caesars Sportsbook will give you back up to $1,250 in betting credits if your first bet loses. 

That's not all. Regardless of your first bet outcome, all new Caesars users get 1,000 Reward Credits and 1,000 Tier Credits. Caesar's first-class rewards system is one of the best in the country, and its promo offer helps you get a jump start on those rewards. You can use those rewards for free bets, bonuses, and even hotel stays at any Caesars location.

That means you are getting one of the best sportsbook promos in the industry and earning points for rewards you can use. That combination can only be offered by the O.G. of US sportsbooks.

BetRivers Sportsbook March Madness Promo

BetRivers Sportsbook $500 Bonus Bet

BetRivers Sportsbook, an excellent choice for players in many locations, is known for its clear and impressive mobile app and live betting options. But now, new users who use the WSN promo code "SPORTS" in certain states can get a $500 bonus bet just by signing up at BetRivers and creating your new account! 

This offer is available in any of the following states:

• Colorado

• Illinois

• Indiana

• Iowa

• Louisiana 

• Michigan

• New York

• Pennsylvania

• Virginia

If you live in one of these states, you just need to deposit $10 into your BetRivers account you signed up for using our promo code. Then just place your first bet on the NCAA Tournament, and you'll be set to receive a second chance bet up to $500 back if it loses.

If you do receive the bet credits, you can use them to place bets within the first 14 days of receipt. While they can't be withdrawn for cash, you can keep any winnings from bets placed using the credits.

Read the Betrivers Sportsbook review here! 

PointsBet Sportsbook March Madness Promo

PointsBet Sportsbook, known for its array of generous welcome bonuses and innovative sports betting app platform, is geared up and ready for March Madness. Are you?

Check the current offers below to see which ones are right for you. Remember, this page is updated constantly throughout March Madness 2023, so return week by week, as the offers are subject to change!

Read the PointsBet Sportsbook review to see if it is right for you!

Get 5 $50 Bet Credits

New users at PointsBet Sportsbook will get 5 $50 bet credits to be used once per day for their first five days as a PointsBet bettor just for signing up. This means you can apply the promo before the first play-in games on Tuesday and receive a free $50 bet credit to use for the opening week. 

Don't forget to use those bet credits, which cannot be withdrawn for cash and will expire if not used in the first five days. Fortunately, the PointsBet Sportsbook has a wide selection of sports and leagues available to bet on.

It's hard to beat getting five straight days of $50 in free bets, so don't let this offer slip by! Use our link to create an account and start winning today.

Types of Bets March Madness NCAA Tournament Bets

Spread

A spread bet is one of the most used types of bets placed by customers for college basketball. The way it works is that oddsmakers at a sportsbook determine a favorite team in a matchup and predict how much that team should win by. For example, say Michigan State is playing Michigan. The Spartans may be favored by -2.5 points, which means to cover the spread, Michigan State has to win by at least 3 points. 

Moneyline

A moneyline wager is the simplest type of bet a gambler can make. For any customer at an online sportsbook, you would pick which team is going to win. Odds on the game determine how much the wager payout or payouts would be if it hits. The favorite will have lower odds, while the underdog will have higher odds.

Parlays

Parlay bets are some of the very best for bettors trying to make big money with little stake. Whether you live in Massachusetts, Tennessee, or anywhere else that has legal sports betting in the country doesn't matter. Parlays can pay out big. With that said, parlay wagers are some of the most challenging bets to win.

The way a parlay works is to combine multiple bets to increase the odds of your wager. Each part of a parlay is called a leg and is a bet by itself. For a parlay wager to be a winner, each of the legs of the parlay must win. If one leg loses, the entire wager loses. Check out the WSN Parlay Calculator to see how odds increase with each added leg of a parlay.

Futures

Future bets are a wager placed on a specific team or player to win a championship or award. A bettor can say the Kansas Jayhawks will win the National Championship and get various odds for it to happen, just to name one example.

Team Props

Team Props vary by state, so check your state's rules and regulations around prop bets. The way a prop bet works, though, is betting on whether a particular thing will happen in a game. Common team props will also include which team will do something first. For example, a typical team prop bet may be which team scores 10 points first or which has the most three-pointers in a game. 

Player Props

Player Props are similar to team props but are odds for an individual player to have something happen. Standard player props include the number of threes a player makes, and a bettor can bet whether they hit over or under a set number.

Live or In-Game Betting

Bettors can take advantage of live or in-game betting while games are being played. Bettors can place wagers on many typical bets, from moneyline, spread, point totals, and more.

Other Bet Types

Every Sportsbook has its own wagers, which can differ from operator to operator. There are teaser bets, NCAA Tournament Pools, over/under point total bets, and remember various bonus code and sportsbook promotions must be used with certain bet types at times. Each chance bets offered comes with different levels of opportunity, and a lot of them vary in form and with the sporting events they are tied to.

Check out all of the WSN NCAA Tournament Predictions & Picks Articles: WSN March Madness Page

States Where Gamblers Can Bet on NCAA Tournament & March Madness

As the Brackets get released, bettors are thinking of many things, from who the no-brainer CBB teams are in the tournament, which team didn't get a good enough seed, or other teams like Gonzaga got too high of a seed considering the conference the Zags play in. 

An important thing to consider is whether sports betting sites are legal in your state. Sports betting operators in some states are legal only at retail venues like casinos, and in others, states are legal both retail and online. Also, considering being a good sports betting operator often means that the sportsbook operates in multiple states. 

There are also states where betting on college sports is not legal or has limitations, even if betting on pro sports is allowed. See each table below to help you know your options.

States Where Online Betting on March Madness is Legal

States Where Betting on March Madness is only Allowed In Person at Retail Venues

• Mississippi: Only at Casinos
• Montana
• New Mexico: Only at tribal Casinos
• North Carolina: Only at tribal Casinos
• North Dakota: Only at tribal Casinos
• Oregon
• Washington State: Only at tribal Casinos and no betting on in-state teams
• Wisconsin: Cannot bet on in-state teams

States Where No Betting on March Madness is Allowed

• Alabama
• Alaska
• California
• Florida
• Georgia
• Hawaii
• Idaho
• Kentucky
• Maine
• Minnesota
• Missouri
• Nebraska
• Oklahoma
• South Carolina
• Texas
• Utah
• Vermont

Tips for Choosing The Best Sportsbook Promotion for You

Now that you know some of the best sportsbook promo codes and bonuses for the 2023 March Madness tournament, it's time to pick one to get started. With so many great deals being offered, it can be overwhelming to choose the right one. If you are still trying to decide which to choose, check out our tips to help you get the most value out of every promo and the benefits available to you.

Read the details of each bonus carefully

l have different terms and conditions that could affect your experience. Check for things like expiration dates, withdrawal rules, and playthrough requirements, and verify its availability in your state. Each promo works differently, so you'll need to be sure you understand things like playthrough requirement, qualifying bet, and time to use a bonus/promo before making a selection.

Set a budget to determine how much you can bet

Even though you have yet to choose your sportsbook apps, knowing how much you can afford to deposit can help determine which promo is best for you. While many include offers of a deposit bonus or no-sweat bet up to $1,000, they require an initial deposit of at least that amount. Once you determine a budget, calculate each promo based on what your initial deposit will be.

Check out our sportsbook reviews

We have researched all of the top online sportsbooks in the industry and have reviews to help you make the most informed decision. There are many reliable and well-established options to choose from, but they all have their differences. Check out our online sportsbook review page to see our findings and review some of the biggest pros and cons.

Sportsbook Odds

Sportsbook Odds vary from sportsbook to sportsbook and market variety. Gamblers that take their wagers seriously often use more than one provider for their wagering. Bookmakers at an online sportsbook will use their own odds. While most odds are typically close from sportsbook to sportsbook, getting bets that are consistently +5 to +15 better can make a gambler significantly more money over the course of a season. There are also sportsbooks that offer odds boosts at times as ongoing promotions for their customers. So with that said, make sure when placing pregame wagers, whether it is a bet on the spread or the moneyline, to look at the odds and markets available.

Verify payment method Deposits & Withdrawals

While the sportsbooks from our list accept many of the same payment methods, be sure to verify your preferred method is available. Most major sportsbooks allow for bank transfers, credit/debit cards, PayPal, and other eWallet services. 

Determine what sports or leagues you want to bet on

While these promos celebrate March Madness, you should determine what other sports or leagues you like to bet on. The NCAA Tournament is one of the most exciting sports betting events of the year, but it only lasts for a month. You'll be using these promos to build your bankroll, so you'll want to be sure the sportsbook you choose covers other sports and leagues once March Madness ends.