Updated August 18, 2026
Editorial Review By: Simon CrippsSports Betting Analyst
Compare the best sportsbook promos for August 2026, including bonus codes, welcome offers, and bonus bets from top U.S. sportsbooks. We rank each promotion based on its overall value, bonus requirements, and how easy it is to claim.
Sportsbook promos can vary quite a bit in how much value they actually provide. A larger advertised bonus isn’t always the better deal, especially when you factor in minimum deposits, qualifying bets, expiration dates, and wagering requirements. Below, we break down the current offers from leading U.S. sportsbooks and what you should know before claiming one.
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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.
Want to see the best sportsbook bonuses available in your state? Check out our full list of state-specific bonus pages below.
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.
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.
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.
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.
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.
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.
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.
Compare the Available Promos
Start by comparing the offers above and choosing the one you want to claim. Look at the bonus amount, minimum deposit, qualifying bet, and any important restrictions.
Create Your Account
Go to the sportsbook's website or app and sign up. You’ll usually need to provide your name, date of birth, address, email, and phone number.
Enter the Promo Code
If the offer requires a promo code, enter it when you sign up. Some sportsbook bonuses don’t require a code and will be automatically added to your account.
Verify Your Account & Location
Complete any identity checks and allow the sportsbook to verify your location. You’ll need to be physically located in an eligible state before you can place a real-money bet.
Make a Deposit
Add money to your account using one of the available payment methods. Make sure you meet any minimum deposit requirement for the promo.
Place Your Qualifying Bet & Get Your Bonus
Place the wager required by the promotion. Depending on the offer, you may receive bonus bets after your wager settles or only if your first bet loses.
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.
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:
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 | 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. |
Note: Promotions are subject to change and may vary by location. Always check the sportsbook’s official promotions page for the most up-to-date information and terms.
The advertised bonus amount doesn't always tell you how much a sportsbook promo is really worth. Bonus bets usually don't return the original stake, and wagering rules, odds restrictions, and expiration dates can all affect how much value you actually get.
One way to compare offers is through expected value (EV), which estimates how much of a promotion you can realistically turn into withdrawable winnings.
Estimated EV = (Bonus Amount × Conversion Rate) − Expected Losses
Promo Type | Example | Estimated Value | What to Know |
|---|---|---|---|
Bet & Get | Bet $5, Get $150 | ~65-75% of bonus | Small qualifying wager can unlock a much larger bonus |
Second-Chance Bet | Bet $1,000, Get Bonus Bets if You Lose | ~30-40% of max refund | You only receive the bonus if your qualifying bet loses |
Deposit Match | 100% Match Up to $500 | Varies | Value depends heavily on playthrough requirements |
Odds Boost | 25% Profit Boost | Varies | Max bets and eligible markets can limit the value |
Bet-and-get offers are usually among the better sportsbook promos because the qualifying wager can be small compared with the bonus you receive.
For example, say a sportsbook offers Bet $5, Get $150 in Bonus Bets. If you estimate that you'll convert about 70% of those bonus bets into withdrawable winnings:
$150 × 70% = about $105 in estimated value
The actual amount you get back will depend on how you use the bonus bets. Since most bonus bets return the winnings but not the original bonus stake, the odds you choose can make a difference.
For a simple example, consider a $100 bonus bet:
Odds | Profit If It Wins | Bonus Stake Returned? |
|---|---|---|
+100 | $100 | No |
+200 | $200 | No |
+400 | $400 | No |
This is why using bonus bets at longer odds can sometimes improve the percentage of the bonus you're able to convert into cash. However, longer odds also mean a lower probability of winning.
Second-chance promos work differently. Instead of getting bonus bets simply for placing a qualifying wager, you typically receive them only if that wager loses.
For example, suppose you bet $1,000 and get up to $1,000 back in bonus bets if you lose. If the original wager has roughly a 50% chance of losing and you estimate a 70% conversion rate on the bonus bets:
$1,000 × 70% × 50% = about $350 in estimated promotional value
In this simplified example, that's about 35% of the maximum $1,000 refund. Your actual value will depend on the odds of your qualifying wager and how efficiently you use any bonus bets you receive.
For most bettors, bet-and-get promos tend to provide more value relative to the amount you have to risk. A $5 or $10 qualifying wager can sometimes unlock $150 or more in bonus bets.
Second-chance offers can have much larger advertised maximums, but you usually have to risk considerably more money and only receive the bonus if your qualifying bet loses. That's one reason strong bet-and-get offers tend to rank highly in our sportsbook promo comparisons above.
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.