We’ve got eight sports betting sites live in North Carolina ahead of the ACC Tournament final and the NCAA Tournament next w💞🥃eek.
You can♔ join any of the apps to get a welcome offer on Saturday or anytime next week.
Belo we’ll break down the total value of each offer, and how to claim it.
The 8 best North Carolina sportsbook promos
| NC Sports Betting App | Bonus | True Max Cash Value* |
| 1. Fanatics Sportsbook | Bet $20, get $200 or $1,000 bet match | $545 |
| 2. Underdog Sports NC | $1,000 first bet mulligan | $400 |
| 3. bet365 North Carolina | $200 bonus bets or $1,000 first bet insurance | $400 |
| 4. ESPN BET NC | Bet anything, get $225 + $500 max deposit match | $270 |
| 5. DraftKings North Carolina | Bet $5, get $250 | $150 |
| 6. FanDuel North Carolina | Bet $5, get $250 | $150 |
| 7. Caesars NC | Bet $10, get $250 | $150 |
| 8. BetMGM NC | Bet $5, get $150 | $90 |
Estimating the true maximum cash value of these offers
Sportsbooks often promise🐽 big bonuses through first bet insurance offers or deposit matches, but what are they actually worth🤪?
Bonus bets: If you optimize your bonus bets by betting plus-money underdogs in the +300 to +500 range, over the long run you’ll convert about 60-70% of your bonus bets into cash. So $200 in bonus bets can be worth ~$130. Most people won’t use bonus bets optimally, however, so sportsbooks only pay out about 30% of all bonus bets. So $200 in bonus bets costs them about $60.
Insurance: These first bet offers are tricky to value — if you make a $1,000 first bet at +250 and it wins, you’ve won $2,500. If your first bet loses, then your ensuing bonus bets lose, you can be left with $0.
There is a hedging method that will lock in about $400 from a $1,000 first bet. It’s a big investment, since you need to bet more than $4,000 on the opposite side of your $1,000 first bet, so most people won’t do it. But I think it’s fair to call the cash value about 40% of the insurance amount.
Deposit match: Most deposit matches come with a rollover or play-through requirement. This means that you can’t just deposit, get a match, and then immediately withdraw.
Some matches have bigger rollovers than others. We estimate the value to be the max offered, minus the money you’d lose if you hit 50% of your bets reaching the rollover requirement, assuming those bets are all -110.
Take the ESPN BET deposit match. Say you max it out by depositing $250 and get $500 in Eligible Cashback. It comes with a 20x rollover, meaning you must wager $10,000 total ($500 x 20) over your first 30 days to get the f🅠ull match.
If you made 100, $100 wagers all at -110 and went 50-50, you’d lose about $455 in cash. So the deposit match, by this estimation anyway, is really only worth about $45. With ESPN BET, at least you are getting actual cash and not bonus bets.
Bet match: Similar to the deposit match, think about what it would cost you to earn the max match, ♉and assume your bets hit at 50% rate.
If you make 10, $100 bets at Fanatics and go 5-5, you’ll lose about $55 in cash. But you’ll get $1,000 in bonus bets. It’s no guarantee you go 5-5, but that’s what we’ll use as an estimate.
Assuming you turn your bonus bets into 60% cash, you’ll earn $600, minus the $55 you lost, for $545 cash.
1. Fanatics Sportsbook Promo: Bet $20, get $200 or $1,000 bet match
Fanatics Sportsbook has a choice of offers.
- Bet $20, get $200 FanCash (which converts 1-1 to bonus bets)
- $100 per day bet match for 10 days: For your first 10 days on the platform, your first bet of the day will be matched in FanCash, up to $100. So if you place a $50 bet as your first bet on Day 1, you’ll get $50, if you place a $100 bet, you’ll get $100.
The bet match is of course higher value, if you bet the max $100 each day and s🔯tick with it for all 10 days. As we detailed above, we estimate this offer at about $545 in cash if you max it out.
Even if you go 5-5 on those $100 bets, you’ll lose about $55 in cash, but you’ll have $1,000 in bonus bets.
2. Underdog Promo: $1,000 mulligan on your first bet
As we detailed above, if you max out a $1,000 insurance bet and hedge it against another book, it’s worth about $400 in cash. We don’t necessarily recommend that, but I think it’s a fair way to measure the value.
3. bet365: $200 or $1,000 first bet insurance
bet365 offers a choice between two sign-up bonuses in all states, including North Carolina. Use bet365 bonus code NYPNEWS and select either a $1,𓂃000 first bet safety net or grab the bet $5, get $200 offer.
- The $1,000 first bet safety net refunds you in bonus bets equal to what you lost, if your first bet loses.
- The bet get gives you $200 after a $5 wager (just make sure your first bet is at odds of -500 or longer, meaning -400 is OK but -600 is not).
As we’ve covered above, the $1,000 first bet if you max it out can be worth about $400 in cash over a large sample. So if plan on maxing it out, take the insurance, but if you just want some bonus bets, take the $200.
4. ESPN BET Promo Code: Get $225 and $500 deposit match
ESPN BET has two parts to its offer:
- Use ESPN BET promo code to get $225 in bonus bets after any cash waer.
- No matter what, you’ll also get up to with your first deposit. Whatever you put in, you’ll get 200% extra, up to $500.
The cashback unlocks very slowly, 5% at a time, and you only have 30 days to unlock it all. We estimate the deposit match is worth more like $45, because you’ll slowly lose juice as you bet against the wagering requirement.
5. FanDuel Promo: Bet $5, get $250
FanDuel’s offer is simple — just deposit $10, bet $5, and you’ll get $250 in bonus bets.
There’s no promo code needed to claim this offer.
6. DraftKings: Bet $5, get $250
For new users, DraftKings offers the same deal as FanDuel: bet $5 and get 🌞$250 in bonus bets.
7. Caesars Sportsbook Promo Code: Bet $10, get $250
With promo code , you’ll get five, $50 bonus bets after just a $10 wager. Make sure your first bet is $10+, or else you’ll forfeit the offer.
8. BetMGM Promo Code: $150 bonus bets
BetMGM bonus code NYPNEWS will earn you $150 in bonus bets aft𝄹er a $5 wager.
Those bonus bets come back in six increments of $25, and you’ll have seven days to use them.