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Best March Madness Betting Promos & Bonuses 2023

Mitchell South

by Mitchell South

Updated Nov 13, 2023 · 9:26 PM PST

March Madness is one of the most exciting sporting events in the world, and online sportsbooks offer special betting bonuses worthy of the vaunted NCAA men’s tournament.

With promos like free bets, risk-free bets, parlay insurance, and other types of insurance unique to the tourney, these bonuses will have you on the edge of your seat as you track each game closely alongside your bracket.

The best March Madness sports betting bonuses aren’t necessarily the ones offering the highest potential payouts. Look for promos that take your immersion in the games to a whole new level.

The sportsbook promos for March Madness usually offer new promotions for each round, so we’ll keep this guide updated as the tournament rolls along with San Diego State and UConn facing off in the championship game tonight.

Keep reading for more details on the best March Madness bonus offers in 2023.

Bonus offer availability varies by location and changes frequently. Please consult each sportsbook directly to confirm the availability of the bonus offers featured on this page.

Best March Madness Betting Promos

Here’s a quick rundown of the best promos for the men’s basketball tournament, with links to help you get started:

Sportsbook March Madness 2023 Bonus Get Started
DraftKings Sportsbook Bet $5, Get $200
BetMGM Bet $10, Win $200 in Bonus Bets
FanDuel Sportsbook Get 10x Your Bet in Bonuses Up to $200 BET NOW!
Caesars Sportsbook First Bet on Caesars Up to $1,250 BET NOW!

Let’s get into the details and some of the terms for these March Madness bonuses. See more March Madness betting apps for the 2023 NCAA Tournament. Pro tip: the Bet365 bonus code is also a valuable promo for new users looking to bet on the tournament.

bet365 promos

March Madness Betting Promos Explained

Betting promos for March Madness have specific terms and conditions, and we always recommend you read the fine print before placing a bet. The availability of these bonuses differs based on where you’re betting from, but we’ll let you know where bettors can find each of these NCAAB sportsbook promos.

DraftKings Sportsbook March Madness Promo: Bet $5, Get $200

Here’s a promo with some serious value. DraftKings Sportsbook is making betting on March Madness an absolute no-brainer with a Bet $5, Get $200 offer. Trust us, it’s really as simple as it sounds.


Get a No Sweat First Bet Up To $1,000!


UP TO $1,000!


How it works:

  • Follow the links in this section to reach the DraftKings Sportsbook signup page
  • Sign up for a DraftKings Sportsbook account
  • Deposit minimum of $5
  • Place a $5 bet on any March Madness matchup and get $200 in bonus bets

BetMGM College Basketball Bonus Code: Bet $10, Win $200 in Bonus Bets

BetMGM is certainly not be outdone by its competition when it comes to bringing an excellent college basketball promo to the table. The Bet $10, Win $200 in Bonus Bets promo is as simple as it sounds.

Bet $10 on & Get $200 - Instantly!

GameSense Icon
Not available in DC, MS, NY & NV. Must be 21+ to Participate. Gambling problem? Call 1-800-GAMBLER (CO, IL, IN, LA, MD, NJ, OH, PA, TN, VA, WV, WY); 1-800-NEXT-STEP (AZ); 1-800-522-4700 (KS); 1-800-327-5050 (MA); 1-800-270-7117 for confidential help (MI). Visit BetMGM.com for Terms & Conditions.
BET $10
GET $200


How it works:

  • Follow the links in this section to set up your account
  • After registering, make a first-time deposit
  • Place a $10 bet on any March Madness game and get $200 in bonus bets

FanDuel Sportsbook March Madness Promotion: Get 10x Your Bet in Bonuses Up to $200

As one of the biggest sportsbooks in the business, FanDuel Sportsbook does not play around when it comes to their March Madness promos. They have a March Madness promo that is as clear-cut and lucrative as you can find.

Bet $5 & Get $150 If Your Bet Wins!
Must be 21+. T&C Apply. Gambling Problem? Call 1-800-GAMBLER.
BET $5
GET $150


How it works:

  • Follow the links in this section to set up your account
  • Complete signup form and make a deposit
  • Bet $20 on any March Madness matchup
  • Receive $200 in bonus bets, win or lose


Caesars Sportsbook March Madness Promo: First Bet on Caesars Up to $1,250

Caesars Sportsbook doesn’t have a March Madness promo per se, but you can still leverage their fantastic $1,250 bonus on any NCAA tournament game of your choosing.


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

$1,000 BACK


How it works:

  • Hit the links in this section to access this offer
  • This is a sign-up offer for new players only
  • Caesars will cover your first bet up to $1,250 if it happens to lose
  • It is only valid on your first bet, so go ahead and make one that counts
  • It will be paid out in bonus bet credit


States Where You Can Bet On March Madness 2023

Not sure if you can bet on March Madness in your state? Don’t worry, we’ve got you covered with this list of states where you’re able to bet on March Madness.

States Where You Can Bet On March Madness 2023 Details
Arizona Arizona Sports Betting Apps
Arkansas Arkansas Sports Betting Apps
Colorado Colorado Sports Betting Apps
Connecticut Connecticut Sports Betting Apps
Illinois Illinois Sports Betting Apps
Indiana Indiana Sports Betting Apps
Iowa Iowa Sports Betting Apps
Maryland Maryland Sports Betting Apps
Massachusetts Massachusetts Sports Betting Apps
Michigan Michigan Sports Betting Apps
New Jersey New Jersey Sports Betting Apps
New York New York Sports Betting Apps
Ohio Ohio Sports Betting Apps
Pennsylvania Pennsylvania Sports Betting Apps
Tennessee Tennessee Sports Betting Apps
Virginia Virginia Sports Betting Apps
West Virginia West Virginia Sports Betting Apps
Wyoming Wyoming Sports Betting Apps

March Madness Betting Promos FAQ

Got more questions about March Madness betting promos? We’ve got you covered

What is the best March Madness betting promo for 2023?

The best March Madness betting promos for 2023 are offered by DraftKings, FanDuel, Caesars, and BetMGM.

Do all March Madness promos require a promo code?

No, not every March Madness promo requires a promo code to be unlocked. Simply use the links on this page for instant access.

When do March Madness sportsbook promos expire?

The expiry date of March Madness sportsbook promos varies based on the sports betting brand.

Use Sports Betting Bonuses to Wager with Confidence

Bonus offers are some of the best resources to help you bet on your favorite games with confidence. At Sports Betting Dime, we have all the details you need on the plethora of promotions from legal sportsbooks, including the ESPN BET promotion.

Be sure to check out our ‘Bonuses’ section for all the latest and greatest promos. We also have comprehensive guides on the different kinds of bonuses available at online sportsbooks.

We hope you enjoy the return of March Madness in 2023!


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