Comparing the Best Sports Betting Promos Available Right Now – See Which Bonus Is Best for You

Left to right: Lions running back David Montgomery, quarterback Jared Goff, running back Jahmyr Gibbs and receiver Jameson Williams celebrate the go-ahead 1-yard touchdown by Montgomery vs. the Bears with 29 seconds remaining at Ford Field, Sunday, Nov. 19, 2023.Every sports betting app is offering great new user promos & bonuses for all users this Thanksgiving and Black FridayWe have compiled all the best sports betting promos hereRead our breakdown on each to help decide which sportsbook promo is best for you

This Thanksgiving, online sportsbooks are in the spirit of giving with the signup promos they are offering new users and are also saying “thanks” to their existing users by offering some great bonuses to be used on Thursday and Friday.

I have rounded up the best signup promos available and offer some insights on each to help you compare and p out which one is best for you – assuming you are here to sign up for a new sports betting account.

Best Sportsbook Promos for New Users

When you’re trying to p out which sportsbook promo is best for you this Thanksgiving, the main question to ask is: how big is my bankroll? In other words, how much money are you comfortable depositing/losing? Answering this question will help determine which type of promo is best for you. There are two types of sports betting promos above: (1) bet/get offers, and (2) first bet offers.

If you are not comfortable risking $1,000+ on a single bet, then the bet/get promos are the ones you should focus on. If receiving $150 in bonus bets isn’t meaningful to you because it’s such a small amount of money in comparison to your bankroll, then the first bet offers are the ones you should lean into. You can read more on each of the five offers below:

DraftKings 5/150 | bet365 5/150 | FanDuel 5/150 | BetMGM $1,500 | Caesars $1,000

DraftKings Bet $5, Get $150 Promo for New Users

In my opinion, DraftKings’ new user bonus is the best in market right now. Here are the pros and cons I see:

What I Like About the DraftKings Promo:

Simply put, the DraftKings promo is so great because you put up $5, which you could get back with some winnings if your first bet wins, and you are handed $150 worth of bonus bets that you can use on whatever betting markets you please. You don’t need to do anything difficult to obtain the $150 bonus bets.

DRAFTKINGSSPORTSBOOK

Bet $5 & Get $150 in Bonus Bets Instantly!

LOCK IN PROMOSIGNUP PROMOBET $5GET $150GET PROMO

I also really like that the bonus bets come in six $25 bonus bets. It’s nice knowing you get six bets you can make – you could, of course, put all six on the same bet if you wanted to – before having to go back to your own bankroll. The cherry on top is the no sweat SGP/SGPx. This allows you to test out DraftKings’ same-game parlay feature (or the same-game parlay x feature) without losing much money.

(To be clear, you will receive your no sweat stake back in a bonus bet; you do not receive the value of the bonus bet back after that bet settles. You only get the winnings. So, if you were to place that bonus bet on a standard spread/total with -110 odds and won the bet, you would have essentially paid a little bit of juice in the exchange.)

What I Don’t Like About the DraftKings Promo:

If you’re someone with a bigger bankroll – let’s say five ps – then this bonus doesn’t really do much for you. What’s $150, specifically six $25 bonus bets, to someone with $10,000 in their bankroll, right? If this is the case, you’d be better off going with DraftKings’ other bonus: Up to $1,050 in bonuses. (This one requires a bigger deposit but comes with a bigger bonus if you can satisfy the requirements.)

Also, you cannot use any portion of a $25 bonus bet. You must use the full $25 value in the bet. So, if you’re someone who generally only risks $5 (or so) at a time, it can certainly be a little stressful risking much more than normal. Thankfully, it’s not your money being risked. On the other side, you cannot use a bonus bet to partially fund any wager. If you wanted to bet $50 on an event, you would need to place that bet twice – once with your $25 bonus bet and then again with the remaining $25.

It can also be a little annoying having to opt-in to the no sweat SGP/SGPx promo every single day. The other part of the no sweat promo I don’t love is most have reported small maximum bets for the no sweat SGP/SGPx. But I do understand DraftKings is allowing users to test out one of their most popular bet types with little risk.

How to Claim DraftKings Promo

Click through one of our DraftKings links on this pageClick the “Sign Up” button to start creating your new accountBe ready to provide your full name, address, date of birth, email, last four digits of your SSN, a piece of government-issued ID to confirm your prior details, and a selfieMake your first deposit using your preferred methodStandard options include Apple Pay, bank wire transfer, credit card (in most states), debit cards, electronic gift card, PayPal, Venmo, and online bankingBet $5 (or more) on any sportGet $150 in bonus bets credited to your account instantly + a bonus bet back if your SGP/SGPx bet loses

DRAFTKINGSSPORTSBOOK

Bet $5 & Get $150 in Bonus Bets Instantly!

LOCK IN PROMOSIGNUP PROMOBET $5GET $150GET PROMO

Once you have completed the five steps above, you can go enjoy your six $25 bonus bets, along with a no sweat SGP/SGPx available each day.

Important Terms and Conditions to Know for DraftKings Promo

In order to claim this promo, you must be physically located in one of the following states: AZ, CO, CT, IA, IL, IN, KS, KY, LA, MA, MD, MI, NJ, NY, OH, PA, TN, VA, WY, OR WVMust be 21+ years of age (18+ if in KY, WY)Cannot have ever had a DraftKings Sportsbook accountMust deposit a minimum of $5 into your accountFirst $5 wager must be made with your cash balanceBonus bets are issued as six $25 bonus betsUsers must select the bonus bet from their betslip to use themOnce your bonus bet settles, you will only receive the cash winnings, not the value of the bonus bet back as wellUsers must opt-in to the no sweat SGP/SGPx each dayUsers must apply the no sweat SGP/SGPx token in your betslip before placing the qualifying wagerQualifying wagers for the no sweat SGP/SGPx must have a minimum of 3 legsBonus bets are only valid for seven days after receiving them

Please read the parts about how you receive the $150 in bonus bets and how you use them carefully. I would hate to see anyone risk their own money when thinking it’s a bonus bet, or even see any of them expire.

DRAFTKINGSSPORTSBOOK

Bet $5 & Get $150 in Bonus Bets Instantly!

LOCK IN PROMOSIGNUP PROMOBET $5GET $150GET PROMO

Other DraftKings Bonuses for All Users

Once you have claimed your $150 in bonus bets, you can also go ahead and use any of the following bonuses DraftKings is offering for the Thanksgiving NFL games:

Turkey Day Trifecta

Opt-in to this bonus and get a 33% boost on any 3-leg anytime touchdown scorer parlay.

College Football Game of the Week

Get a 33% profit boost on any bet of your choice for Ohio State vs Michigan

bet365 Bet $5, Get $150 Signup Promo

A very close second is bet365’s Bet $5, Get $150 in Bonus Bets promo. The only difference between their offer and DraftKings’ is that you don’t get the no sweat SGP/SGPx each day at bet365. They do, however, offer many great all-user bonuses once you are signed up as well.

What I Like About the bet365 Promo

Similar to the DraftKings offer above, the bet365 bonus is a great opportunity to put a little bit of money down and receive 30x back in bonus bets. You don’t need to win your $5 bet to get the bonus bets and the restrictions on that first $5 bet are very light.

BET365SPORTSBOOKOfferT&CsBet $5 & Get $150 in Bonus Bets or a First Bet Safety Net up to $1,000!
Deposit required. Paid in Bonus Bets. Bonus Bets wager excluded from returns. New Customers only. T&Cs, time limits and exclusions applyLOCK IN PROMOCODE: SBDXLMCODE: SBDXLMSIGNUP PROMOGET UP TO$1,000 BACK

OR BET $5 & GET $150!

CLAIM OFFER

There are actually two things I like better about bet365’s promo versus DraftKings’: (1) the bonus bets do not have an expiration – just don’t go inactive for 90 consecutive days; and (2) you can use any denomination of the $150 in any bet you want to make. It does not have to be used in specific increments. You can even place a $20 bet with $10 of your own cash and $10 of the bonus bets if you want.

It is also very easy to use these bonus bets. You will see the option once you load a bet into your betslip.

What I Don’t Like About the bet365 Promo

Honestly, there isn’t really much to dislike about this promo. If I’m going to get extremely picky, I’d say bet365 only being available in seven states – CO, IA, KY, LA, NJ, OH, and VA – limit the number of people who can claim it. We have also seen bet365 offer more in bonus bets in the past. (Users signing up for the new bet365 Louisiana betting app will know what I mean.)

The same sentiment I shared above about the DraftKings promo not meaning much to a user with a bigger bankroll applies here too. Thankfully, bet365 also offers a $1,000 first bet safety net for any users who wouldn’t get much from $150 in bonus bets.

How to Claim bet365 Promo

Click one of the bet365 links on this pageSign up for a bet365 accountYou will be required to verify your identityMake a qualifying deposit (at least $10)Standard deposit methods availableChoose the Bet $5, Get $150 offer and click “claim”Place a qualifying bet of at least $5 to unlock your $150 in bonus bets

BET365SPORTSBOOKOfferT&CsBet $5 & Get $150 in Bonus Bets or a First Bet Safety Net up to $1,000!
Deposit required. Paid in Bonus Bets. Bonus Bets wager excluded from returns. New Customers only. T&Cs, time limits and exclusions applyLOCK IN PROMOCODE: SBDXLMCODE: SBDXLMSIGNUP PROMOGET UP TO$1,000 BACK

OR BET $5 & GET $150!

CLAIM OFFER

Once you have followed the five steps above, your new bet365 account will have access to an extra $150 in bonus bets to use however you please. It is important to know that your bonus bets will be available through the betslip once you have selected a bet you want to make. You can also partially fund a bet with your bonus bets if you want.

Important Terms and Conditions to Know for bet365 Promo

This offer is available to new bet365 customers onlyMust make a minimum $10 deposit in your new accountMust claim this offer within 30 days of registering your accountBonus Bets are non-withdrawable – you must bet them first to move them to your withdrawable balanceYour qualifying bet ($5 or more) must settle within 30 days of claiming the offer – stay away from any lengthy futures markets hereQualifying bet must contain at least one selection at odds of -500 or longerThe bonus bets wager is excluded from any returns; you will only receive the winnings backBonus bets will be forfeited if your account is inactive for 90 consecutive days

The most important parts of the above are to ensure your qualifying wager settles within 30 days of claiming the offer and that your bet must be on a team/outcome with -500 odds or longer. (For example, -600 odds will not qualify, but -250 will.)

BET365SPORTSBOOKOfferT&CsBet $5 & Get $150 in Bonus Bets or a First Bet Safety Net up to $1,000!
Deposit required. Paid in Bonus Bets. Bonus Bets wager excluded from returns. New Customers only. T&Cs, time limits and exclusions applyLOCK IN PROMOCODE: SBDXLMCODE: SBDXLMSIGNUP PROMOGET UP TO$1,000 BACK

OR BET $5 & GET $150!

CLAIM OFFER

Other bet365 Bonuses for All Users

bet365 is also offering all users a chance to take advantage of these great bonuses for Thanksgiving:

Goff Super Boost

Jared Goff to record 200+ passing yards & 1+ passing touchdowns boosted from -450 to +100.

30% Profit Boost on 49ers vs Seahawks SGP

Bettors can enjoy a 30% profit boost on any same-game parlay they construct for the San Francisco vs Seattle game tonight. The only catch is the SGP must have at least 3 legs and final odds have to be at least +100.

FanDuel Bet $5, Get $150 Promo

The next best sportsbook promo available, in my opinion, is FanDuel’s Bet $5, Get $150 if your team wins. I have italicized that final phrase because it is the only real difference between FanDuel’s offer and bet365’s. But it’s a significant one.

What I Like About the FanDuel Promo

The FanDuel signup promo is a great opportunity to return 30x your original $5 bet. Similar to the bet365 offer, you do not need to use the $150 in bonus bets all in one lump sum. You can use any amount you wish by selecting it in your betslip.

FANDUEL SPORTSBOOKOfferT&CsBet $5 & Get $200 in Bonus Bets if Your Bet Wins!
Must be 21+. T&C Apply. Gambling Problem? Call 1-800-GAMBLER. LOCK IN PROMOSIGNUP PROMOBET $5
GET $200

BONUS BETS!

BET NOW

I also appreciate how easy the bonus bets are to use once you’re in your betslip.

What I Don’t Like About the FanDuel Promo

The biggest thing I don’t like about the FanDuel promo is the fact that you have to win the bet in order to get the $150 in bonus bets. Thankfully, there are no minimum odds requirements on the $5 wager, but upsets do happen in sports – it’s why we love them! So, be sure you’re very confident in your (moneyline) bet and it’s probably smart to make it a heavy favorite.

Also, just like the DraftKings offer, FanDuel’s bonus bets expire seven days after receiving them. So, you do need to use the bonus bets up. If you’re someone who generally doesn’t bet more than $5-10, and you claim this promo on Thanksgiving or Boxing Day, be sure you either (a) use what’s left of your bonus bets after Week 12 on early Week 13 lines because your bonus bets will expire on Thursday/Friday of next week; or (b) step outside of just betting football so you have more games to potentially bet on.

How to Claim FanDuel Promo

Click through one of our FanDuel links and joinThey promote that it takes less than 2 minutes to verify your identityMake your first deposit of at least $10Place your first $5 moneyline betUnlock $150 in bonus bets if your team wins

FANDUEL SPORTSBOOKOfferT&CsBet $5 & Get $200 in Bonus Bets if Your Bet Wins!
Must be 21+. T&C Apply. Gambling Problem? Call 1-800-GAMBLER. LOCK IN PROMOSIGNUP PROMOBET $5
GET $200

BONUS BETS!

BET NOW

It is very important to understand that you only get your $150 in bonus bets if your moneyline wager wins. In order to use your bonus bets after receipt, simply select them from your betslip.

Important Terms and Conditions to Know for FanDuel Promo

Must be 21+ and present in select statesMust make $5 pregame moneyline wagerMust be your first real money wagerMust make a first deposit of at least $10Bonus is issued as non-withdrawable bonus bets that expire 7 days after receiptThere are no minimum odds restrictions on your first moneyline wagerBonus bets do not need to be used in one lump sum or specific increments

Again, be sure you do not let these bonus bets expire by not using them within seven days of receipt. Be sure to find a really heavy favorite for your first moneyline bet. If you lose that bet, you get nothing.

FANDUEL SPORTSBOOKOfferT&CsBet $5 & Get $200 in Bonus Bets if Your Bet Wins!
Must be 21+. T&C Apply. Gambling Problem? Call 1-800-GAMBLER. LOCK IN PROMOSIGNUP PROMOBET $5
GET $200

BONUS BETS!

BET NOW

Other FanDuel Bonuses for All Users

Once you have claimed your $150 in bonus bets from FanDuel, you can also take advantage of the following all-user bonuses:

No Sweat Same Game Parlay for Thanksgiving

Place a 3+ leg same game parlay (or same game parlay plus) on any NFL game this Thanksgiving and FanDuel will return your wager if it loses. Be sure to read the terms and conditions to know the  max bet they’ll return.

30% Profit Boost for Ohio State Michigan

Get a 30% profit boost to use on a bet of your choice in the Ohio State vs Michigan game.

Kay & Gronk Thanksgiving Boost

Amon-Ra St Brown to record 50+ receiving yards & CeeDee Lamb to record 50+ receiving yards & Christian McCaffrey to record 50+ rushing yards boosted from -135 to +130.

Aiyuk & Metcalf Boost

Brandon Aiyuk & DK Metcalf to each record 40+ receiving yards boosted from -150 to +100.

BetMGM Get Up to $1,500 Paid Back Promo

BetMGM’s signup promo is the largest when simply looking at the cash value but it is the first on our list that is not a bet/get.

What I Like About the BetMGM Promo

If you have a bankroll of at least five ps, our BetMGM promo code (SBDXL1500) is a really great opportunity to make a big splash and add a lot more units to your bankroll. If you lose, you’re likely comfortable betting the five $300 bonus bets that get credited to your account.

BETMGM SPORTSBOOKOfferT&CsGet Up To $1,500 Paid Back in Bonus Bets if You Don’t Win21+ only. Please Gamble Responsibly. Gambling problem? Call 1-800-GAMBLER (US); 1-800-327-5050 (MA); 1-800-NEXT-STEP (AZ); 1-800-BETS-OFF (IA); 1-800-981-0023 (PR). First Bet Offer for new customers only (if applicable). Subject to eligibility requirements. Rewards are non-withdrawable bonus bets that expire in 7 days. See BetMGM.com for Terms. US promotional offers not available in MS, NY, NV, ON, or PR.LOCK IN PROMOCODE: DIME1500CODE: DIME1500SIGNUP BONUSGET $1,500
BACKBET NOW

I also really like that there are no odds restrictions attached to the first bet. You can take a swing on a big underdog and look to really pad your bankroll.

What I Don’t Like About the BetMGM Promo

It can be a little scary placing that first bet and not having firm communication that it is going to qualify as an eligible wager. Thankfully, BetMGM does notify you that your wager is eligible for their up to $1,500 paid back offer after you have placed it.

If you’re a bettor whose bankroll is less than five ps, this can certainly be an intimidating offer, and one you potentially may not be able to take full advantage of. Not only does your first bet not come back in cash, it comes back in bonus bets, but you only get five bonus bets back, each amounting to 20% of your first bet. So, if you used the full value of the offer and your bet loses, you’re getting five $300 bonus bets back, which need to be used within a week of receipt.

All of that is likely a bit intimidating to someone who is new to betting or just doesn’t feel comfortable risking that much money. Thankfully, you do not have to use the full value. You can take it down to as little as you like, but you will only receive the amount you wagered back if the bet loses.

How to Claim BetMGM Promo

Click on one of the BetMGM links on this pageIf on mobile, it will prompt you to download the BetMGM appSign up for a new BetMGM account and verify your identityDeposit at least $10 into your new BetMGM accountPlace your first wager & receive up to $1,500 back in bonus bets if it losesIf the first bet loses, your bonus bets will be available once your initial wager is settled

BETMGM SPORTSBOOKOfferT&CsGet Up To $1,500 Paid Back in Bonus Bets if You Don’t Win21+ only. Please Gamble Responsibly. Gambling problem? Call 1-800-GAMBLER (US); 1-800-327-5050 (MA); 1-800-NEXT-STEP (AZ); 1-800-BETS-OFF (IA); 1-800-981-0023 (PR). First Bet Offer for new customers only (if applicable). Subject to eligibility requirements. Rewards are non-withdrawable bonus bets that expire in 7 days. See BetMGM.com for Terms. US promotional offers not available in MS, NY, NV, ON, or PR.LOCK IN PROMOCODE: DIME1500CODE: DIME1500SIGNUP BONUSGET $1,500
BACKBET NOW

The fifth step above is only an “if” the bet loses. If your first bet wins, then you receive your stake back with the winnings and continue on with a bigger bankroll.

Important Terms and Conditions to Know for BetMGM Promo

BetMGM will only cover up to $1,500 of your first bet; if you wager more, only the first $1,500 will be eligible for this promoYou will only receive the amount back (if your bet loses) that you wagered; if you risk $500 on the first bet, then BetMGM will credit you with $500 worth of bonus bets if it losesAs long as the first bet is more than $50, the participant will receive five bonus bets back in equal denominations of 20% of the total amount of the first betFor example, if you risk $500 and it loses, you will receive five $100 bonus bets backIf the first bet is less than $50, the participant will just receive one bonus bet back in that amountBonus bets must be used within seven days of being credited to your accountThe value of the bonus bet will not be included in any winnings; if you win a bet with the credited bonus bet, you only return the winnings, not the stake too

It is really important that you understand two things with the BetMGM offer: (1) you do not receive up to $1,500 back in cash if you lose and it cannot simply be withdrawn right away; and (2) if you lose, you receive up to $1,500 back in five bonus bets. So, you will need to use the full amount of each bonus bet when you want to use it. They cannot be broken down further. You also need to use these bonus bets, and win those bets, to put this money back into your withdrawable balance.

BETMGM SPORTSBOOKOfferT&CsGet Up To $1,500 Paid Back in Bonus Bets if You Don’t Win21+ only. Please Gamble Responsibly. Gambling problem? Call 1-800-GAMBLER (US); 1-800-327-5050 (MA); 1-800-NEXT-STEP (AZ); 1-800-BETS-OFF (IA); 1-800-981-0023 (PR). First Bet Offer for new customers only (if applicable). Subject to eligibility requirements. Rewards are non-withdrawable bonus bets that expire in 7 days. See BetMGM.com for Terms. US promotional offers not available in MS, NY, NV, ON, or PR.LOCK IN PROMOCODE: DIME1500CODE: DIME1500SIGNUP BONUSGET $1,500
BACKBET NOW

Other BetMGM Bonuses for All Users

Once you have placed your first bet up to $1,500 at BetMGM, you can also take advantage of the following all-user bonuses:

NFL Thanksgiving Odds Boost Token

Double your winnings on any bet placed on an NFL Thanksgiving game.

Caesars $1,000 First Bet Back Offer

While the Caesars Sportsbook $1,000 first bet back offer is not my favorite on the list, it did still make the list. This is still a really great offer for anyone who isn’t yet betting with Caesars.

What I Like About the Caesars Promo

Again, if you have a five p (or more) bankroll, Caesars offers a great opportunity to pad your bankroll with their first bet back up to $1,000.

CAESARS SPORTSBOOK

Get Your First Bet Back – Up To $1,000 On Caesars!

LOCK IN PROMOCODE: SBD1000CODE: SBD1000SIGNUP BONUSGET UP TO$1,000 BACKCLAIM OFFER

I also appreciate that there are no odds restrictions, so you can bet a bigger underdog knowing you will get the value back (up to $1,000) in a bonus bet.

What I Don’t Like About the Caesars Promo

I don’t like the restrictions around profit boosts and super boosts with our Caesars promo code (SBD1000) – your first bet cannot be on one of these markets. Unless you read the terms and conditions closely, you would not know that and could end up risking a lot of money only to find out it wasn’t eligible for their first bet back offer.

I also dislike that if your first bet loses, it is returned in one lump sum that cannot be broken down across multiple bets. So, if you risked the full $1,000 and lost, you would then have 14 days to make another $1,000 bet using the bonus bet you were awarded. This promo probably isn’t for many casual bettors.

How to Claim Caesars Promo

Click on one of the Caesars links on this pageOpen a new Caesars account & verify your identityEnsure the promo code “SBD1000” is being usedMake your first depositPlace your first real money sports wager up to $1,000If your bet loses, you will receive the amount you wagered back in a bonus bet

CAESARS SPORTSBOOK

Get Your First Bet Back – Up To $1,000 On Caesars!

LOCK IN PROMOCODE: SBD1000CODE: SBD1000SIGNUP BONUSGET UP TO$1,000 BACKCLAIM OFFER

Once again, the sixth step is not necessarily needed. If you win your first bet, you will not be receiving any bonus bets. You will receive your stake back plus the winnings and enjoy a bigger bankroll to get started.

Important Terms and Conditions to Know for Caesars Promo

Must place your first real money sports wager within 30 days of opening your accountSuper boost or profit boost markets do not qualify for this promoThe awarded bonus bet is a one-use token and cannot be broken down across multiple betsIf you win your wager using the bonus bet, the value of the bonus bet is not included in the winnings; you just receive the profitThe bonus bet must be used within 14 days from the date it is awarded; it will expire after this

Similar to the BetMGM offer above, Caesars does not simply pay you back your first wager in cash. You get it back in a bonus bet, and what’s different from the BetMGM offer is that you get it all back in just one single bonus bet at Caesars. It is also crucial you understand that this first bet cannot be placed on any of Caesars’ many profit boosts / super boosts.

CAESARS SPORTSBOOK

Get Your First Bet Back – Up To $1,000 On Caesars!

LOCK IN PROMOCODE: SBD1000CODE: SBD1000SIGNUP BONUSGET UP TO$1,000 BACKCLAIM OFFER

Other Caesars Bonuses for All Users

Once you have taken advantage of the $1,000 first bet back offer, you will also have the following all-user bonuses available to you:

33% Thanksgiving Profit Boost Pack

Get three 33% profit boosts to use on any sporting events on Thanksgiving.

There are also tons of odds boosts available at Caesars, but be careful to only bet the valuable ones. If you’re unsure, consult our daily odds boosts and if you don’t see it there, it’s likely not worth betting.

I hope this post helped you find the perfect sportsbook promo this Thanksgiving / Black Friday. Happy Thanksgiving, all! (And good luck with your betting!)