Sports betting has become increasingly popular in North Carolina, with eight sportsbooks now live in the state. As a result, these sportsbooks are offering various promotional deals and sign-up offers to attract new users. However, it can be challenging to determine the true value of these offers when they come in different styles. In this article, we will break down the top eight North Carolina sportsbook promos and estimate their maximum cash value.
One common type of offer is bonus bets, where users receive bonus bets for making a small deposit. These bonus bets can be worth around 60-70% of their face value if used optimally. However, most people do not use them optimally, and sportsbooks typically only pay out about 30% of all bonus bets. Therefore, the cost for sportsbooks to offer $200 in bonus bets is approximately $60.
Another type of offer is first bet insurance, where users are refunded in bonus bets if their first bet loses. It can be challenging to value these offers accurately, as the cash value depends on the outcome of subsequent bets. However, a hedging method can lock in roughly 40% of the insurance amount, meaning that a $1,000 first bet insurance offer could be worth around $400 in cash.
Deposit matches are also popular, where sportsbooks match a user’s initial deposit up to a certain amount. However, these matches usually come with rollover requirements, meaning users must wager a certain amount before being able to withdraw their funds. The value of deposit matches depends on the rollover requirement and how successful users are with their bets. For example, an ESPN BET deposit match may only be worth around $45 in cash after considering potential losses from meeting the rollover requirement.
Bet matches are similar to deposit matches but are based on the number of bets placed rather than the deposit amount. Users receive bonus bets based on the number of qualifying bets they make. Assuming a 50% success rate on bets, a bet match offer could be worth around $545 in cash for the maximum match amount.
Now, let’s explore the top eight North Carolina sportsbook promos based on their estimated cash values:
1. Fanatics Sportsbook Promo: Bet $20, get $200 or $1,000 bet match
Fanatics Sportsbook offers two choices for their promotional offer. Users can either receive $200 in FanCash, which converts 1-1 to bonus bets, or a $100 per day bet match for ten days. If users bet the maximum $100 each day for all ten days, the estimated cash value of this offer is around $545.
2. Underdog Promo: $1,000 mulligan on your first bet
Underdog Promo offers a $1,000 insurance bet on your first bet. While it is not recommended to hedge this offer, the estimated cash value is around $400.
3. bet365: $200 or $1,000 first bet insurance
bet365 provides users with the choice between a $200 first bet insurance or a $1,000 first bet safety net. The estimated cash value of the $1,000 offer is around $400.
4. ESPN BET Promo Code: Get $225 and $500 deposit match
With ESPN BET’s promo code, users can receive $225 in bonus bets after making a cash wager and up to $500 in eligible cashback with their first deposit. The estimated cash value of the deposit match is around $45.
5. FanDuel Promo: Bet $5, get $250
FanDuel’s offer is straightforward – users deposit $10, bet $5, and receive $250 in bonus bets. No promo code is needed for this offer.
6. DraftKings: Bet $5, get $250
DraftKings provides the same offer as FanDuel, where users bet $5 and receive $250 in bonus bets.
7. Caesars Sportsbook Promo Code: Bet $10, get $250
With the promo code, users can receive five $50 bonus bets after placing a $10 wager. It is essential to ensure that the first bet is $10 or more to qualify for the offer.
8. BetMGM Promo Code: $150 bonus bets
By using the promo code, users can earn $150 in bonus bets after making a $5 wager. The bonus bets are distributed in increments of $25 over six days.
With these valuable promotional offers, North Carolina sports bettors have plenty of opportunities to maximize their betting experience and potentially earn some extra cash. It’s important to carefully consider the terms and conditions of each offer and choose the one that best suits your betting preferences. Good luck and happy betting!
