NY Sportsbook Promos February 2023

Your Guide to the Best New York Sportsbook Promos

With New York joining the dozens of other states in legalizing online sports betting, we help you find the best offers as we break down the top free money offers to help you start building your bankroll right from the start.

ByPat Pickens

Feb 2, 2023

New York online sports gambling has been up and operational since DraftKings, FanDuel, BetRivers, and Caesars went live on January 8, 2022, and BetMGM followed shortly thereafter on January 17.

They have since been joined by PointsBet and WynnBet. This means that now is the time to get into the action by signing up for the seven operational sportsbook apps. More online sportsbooks are on their way, as well.

Each sportsbook offers new signup bonuses enabling users to cash in with risk-free bets and deposit matches.

Bettors who sign up but don’t claim the bonus will lose the opportunity to in the future, which means now is the time to cash in on that free money. In other words, you use it or lose it.

What is a NY Promo Code? And Why Use One?

A promo code is a code used to cash in on a promotion (such as a welcome bonus). Most users who buy goods and services online should be familiar with the notion.

NY online sportsbooks also offer promotional offers for new signups and users in the form of deposit matches or one-time risk-free bets.

Best NY Sportsbook Promos

New Yorkers have a plethora of options to consider when placing online sports bets. Here’s a look at each.

Caesars

  • New Player Offer: Up to $1,250 risk-free
  • Status: Active

Caesars is one of the most widely known names in casino gambling, and between their catchy marketing campaign and partnership with Big Apple-titan Madison Square Garden, their New York sportsbook is huge.

Caesars is bringing the heat with its New York Sports betting offer of first-bet insurance, aka a risk-free bet, of up to $1,250.

The free bet is a one-shot deal, so make sure you do some research, or let us do the hard work for you and ride with one of our betting experts here at TheGameDay for some solid betting ideas.

In order to trigger this deposit match, you must use the promo code . This is an exclusive offer through our partnership with Caesars Sportsbook.

FanDuel

  • New Player Offer: No Sweat First Bet up to $3,000
  • Status: Active

FanDuel is the No. 1 online sportsbook in the United States with exceptional odds, single-game parlays and now the opportunity to parlay multiple single-game parlays in the same multi-leg bet through Single-Game Parlay+. FanDuel has thousands of markets to wager on, making them a great option for prospective New York bettors.

FanDuel is arguably the best online sportsbook there is, between their huge selection of betting markets, industry-leading mobile app and full slate of promotional offers, FanDuel will keep you coming back for more.

New users who deposit real money into their accounts will also receive a no-sweat first bet up to $3,000. That means if your initial wager fails you can get bonus bet credits for FanDuel up to $3,000.

DraftKings

  • New Player Offer: Bet $5, Get $200 in site credit
  • Status: Active

The self-proclaimed “King of Sportsbooks" has partnerships with every major league and offers thousands of potential betting markets each day. They have an aesthetically pleasing app and terrific promos for new and existing users.

DraftKings is also offering new signups a lucrative $200 in site credit just by depositing at least $10 and placing your first real-money wager of at least $5. DraftKings’ bonus pays out in free bets, which should lengthen your ability to play on the site.

BetMGM

  • New Player Offer: $1,000 Risk-Free Bet
  • Status: Active

BetMGM, one of the most recognizable names in gambling worldwide, is one of the leaders in online sports gambling. They have a terrific user interface, great odds, offer terrific promotions and a great rewards program that users are signed up for on Day 1.

I love BetMGM. It’s one of my favorite sportsbooks, with a user-friendly interface, loads of free bets, competitive odds, and a great loyalty rewards program. New players can take advantage of a risk-free bet of up to $1,000 that is reimbursed in site credit if it is unsuccessful.

BetMGM requires players to use the promo code “GAMEDAY" when signing up, so be sure to do so to take advantage of this exclusive offer.

BetRivers

  • New Player Offer: Risk-free bet up to $500
  • Status: Active

BetRivers may not be the household name like the names above it, but they are backed by Rush Street International, and are focused on delivering a user-friendly experience and unique rewards that can be cashed in either online or at their brick-and-mortar properties.

New players at BetRivers will receive a second-chance bet up to $500, meaning if their initial wager fails they can get a second wager equal to the first amount. Users must use the promo code “GAMEDAY" in order to unlock the new-player offer.

PointsBet

  • New Player Offer: Five $100 Risk-Free Bets
  • Status: Active

PointsBet is one of the most innovative and exciting new sportsbooks, offering traditional fixed-odds betting as well as PointsBetting — which rewards winners for being extra right and punishes losing bets that are way off base.

PointsBet will give up to $500 in free bets to all new signups. Simply opt-in with the code GD5X100 and place a wager up to $100 each day for up to five days and receive a free bet credit if that initial bet doesn’t hit.

Use the promo code GD5X100 to cash in on the bet matches. Each rebate will be provided only to losing bets.

WynnBet

  • New Player Offer: Bet $100, Get $100
  • Status: Active

WynnBet was established in 2020 and has expanded across the country, coming to New York as of February 3, 2022. They are offering new users with a bet-and-get promotion where new users who wager $100 in cumulative bets will get an extra $100 in site credit.

BallyBet

  • New Player Offer: First Bet Match up to $50
  • Status: Active

BallyBet is the online sports betting arm of the legendary Bally’s casino chain that has been operating nationwide for decades. It is operational in five states currently, Arizona, Colorado, Indiana, Iowa and Virginia, with New York coming soon as the sixth.

BallyBet has partnerships with NBA, MLB and NHL and offers odds for each major US sporting event each day. BallyBet’s signature feature is its trophy room, where users who successfully accomplish things like winning a live bet and hitting a four-or-more-leg parlay will receive a virtual trophy and free bet credit.

Plus, BallyBet enables users to wager with, or against, friends by connecting in a social-media style format where bettors can see their friends’ wagers and either tail or bet against it.

Are New York Sportsbook Promos Worth It?

Of course. Promo codes offer free money, and new sign-up promos are use-or-lose, which means if you don’t take advantage of the code initially you’ll lose the opportunity down the road.

Why Do New York Sportsbooks Offer Promo Codes?

New York sportsbooks offer promo codes to entice prospective bettors to sign up and get in the action. Signing up is super-easy but can be intimidating for the lay gambler. A lucrative promo code or sign-up offer can be the final straw in luring in a prospective gambler to sign up and deposit.

Who is Eligible For a New York Sportsbook Bonus?

New York sportsbook bonuses are eligible for all new signups over the age of 21. In order to place a bet, you must have both feet firmly planted in the state of New York, but you do not need to be located to register, claim a bonus and make your first deposit.

New York Sportsbook Promo Code vs Bonus Code

Promo codes and bonus codes mean the same thing, and the terms can be used interchangeably. Each site will have its own terminology, but bonus code, promo code, and affiliate code will all lead you down the same path.

Do You Need A New York Promo Code?

Each of the new sign-up offers at the four eligible New York sportsbooks do not require a promo code — they hit your account simply by signing up and depositing — and most promos are enacted by opting in through a special link.

However, as other sportsbooks also crop up online in New York, there will be new signup promos that require a code such as GAMEDAY or GAMEDAYFULL to cash in on their best offer. Be sure to check each site’s individual offer at the top of this page to claim the best offer.

Best New York Sports Betting Bonus Types

No-Deposit Bonus

A no-deposit bonus is exactly what it sounds like, a free money offer where you get free bets or site credit just for registering a new account. Once you complete the registration process, and your identity is verified, your bonus will be waiting for you in your account.

No-deposit bonuses are rare in sports betting, and tend to be between $10 and $25. Each site will have its own wagering requirements attached to these bonus offers, but are typically only one time through.

Deposit Match

A deposit match bonus is when a New York Online Sportsbook will match your first deposit up to a certain amount. For example, if a sportsbook is offering a 100% deposit match up to $1000, and your first deposit maxes out the offer, you would start off with a $2000 bankroll ($1000 deposit + $1000 bonus).

These bonus funds are not immediately available for withdraw, as there will be some wagering requirements attached. Ranging from 1x - 25x, the wagering requirements are how many times you have to put the bonus funds in play to convert the bonus to cash. For instance, if you have $1000 in bonus money, and the wagering is 5x, you would have to bet $5000 in order to turn the site credit into your cash balance.

Risk-Free Bet

Risk-free bets are available for nearly every new signup of an online sportsbook. The basics of the offer is that you register a new account, make your first deposit and place your first bet. If that bet wins, great! You will be paid out as usual and you can move on with your next bets.

If that first bet loses, you will be refunded up to a certain amount in either free bets or site credit. How you are refunded is the biggest factor into how great of an offer the risk-free bet is. When you are refunded in site credit, it plays the same as cash, and you can bet it in any denomination, and you are paid the stake + the profit just as you would with any cash wager.

If you get a free bet refund, you are still getting a great deal, but it has to be bet in one shot, and only pay the profits from the bet. For instance, if you bet $1000 in site credit on the Jets at +10.5 at odds of -110 and they cover, you would be paid out $1991 ($1000 stake + $919 profit). That same bet with a free bet would only pay the profit with a total payout of $919.

First Bet Match

The basics of a first bet match are simple, register a new account, make a deposit, place your first bet and the sportsbook will match your first wager with a free bet or site credit, no matter if that first bet wins or loses.

This offer is similar to a risk-free bet, with the added perk of not having to lose your first bet to get the bonus.

Bet & Get

BetMGM, FanDuel and DraftKings are among the best at offering Bet and Get promos. For instance, they’ll give up to $200 in free bets just for putting $5 or $10 on a marquee NBA or NFL game.

How To Pick the Best New York Sportsbook Promotions

Picking a sportsbook is really a matter of feel. A terrific one-time promo — hello Caesars! — is a great reason to jump in and deposit. When a sportsbook has a 100 percent deposit match, which each will offer periodically throughout the year, is another great time to deposit and get in on the action.

But for new signups, picking the offer that is most conducive to your gambling style is how you should pick which book and promo to take advantage of. If you’re planning to be a periodic gambler, cash in on a risk-free bet — particularly on a game or market you love. If you’re going to do this more regularly then the deposit match is probably your best bet.

How To Use New York Sportsbook Bonuses

Bonuses are a great way to take some extra chances that you may be too timid to ordinarily. If you have a risk-free bet up to $1,000, maybe put an extra $10 on that game you really love. Maybe add a prop or an over/under to make it a single-game parlay.

Or get crazy with a four- or five-leg parlay and rest assured knowing that your funds will be matched if you lose. Cashing in on bonuses is a great way to max out the funds in your account, and there’s no wrong way to use them.

Do New York Sports Betting Bonuses Have Restrictions or Limitations?

Some bonuses have restrictions around minimum odds or deposit amounts.

Here are some other restrictions:

  • You must be 21 and older and physically present in New York to take advantage of these offers.

What Are Wagering Requirements?

Wagering requirements are how many times you have to bet through a bonus offer before it can be withdrawn. For instance, a $250 deposit match with 1x wagering requirements means that you deposit $250, and are awarded $250 in site credit for a total bankroll of $500.

Once you wager through the $250 in site credit one time, it is all converted to cash. If that same bonus came with 4x wagering, you would need to put $1000 in play in order to convert the funds to cash.

Free Bets vs New York No-Deposit Bonuses

No-deposit bonuses are given for new signups without having to put their own money in.

Free bets can be handed out the same way but are mostly accrued by gambling and winning or as paybacks for risk-free wagers lost.

Look for More Than One New York Sportsbook Promo

New users should take advantage of as many promotions as possible, meaning prospective gamblers should cash in on as many new signup and first-deposit bonuses as possible. Plus with money in multiple apps, you can shop around for the best odds to max out the winnings on your bets.

Author

Pat Pickens

Pat Pickens is a seasoned sportswriter who has covered the NHL since 2013 for various websites, including The New York Times, NHL.com, Sportsnet.ca, USA Today, the Associated Press and many others. His debut book, titled "The Whalers" about the history of the NHL's Hartford Whalers, was released in October 2021. His greatest successful wager was an LA Kings puck-line bet (+200) in Game 1 of the 2012 Western Conference Final.

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