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8 Elite March Madness Betting Sites Offer Thousands in Bonuses Mar 2023
Mark Strotman | 63 mins
It’s the most wonderful time of the year: March Madness betting is finally here! We’ll crown a national champion in less than two weeks, and on the way bettors will be able to place bets on the outcomes of those games while taking advantage of a number of great promos, offers, and welcome bonuses from all the top March Madness betting sites in the process.
Best March Madness Betting Sites
 | DraftKings Bet $5, Win $150 in Bonus Bets If Your Bet Wins | Bet Now ➜ | Massachusetts bettors must be 21+ and present to place wagers in the state. Gambling problem in Massachusetts? Call 1-800-327-5050 to speak with a trained specialist free and confidentially 24/7. Full T&Cs apply. |
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While also March Madness betting sites have the same functionality—a spot for bettors to legally place bets and earn winnings—they are not all created equal. Certain sports betting sites are better for certain types of players, and some welcome bonuses will appeal more to one person than it does another.
That’s why we’re here. We’ve analyzed all March Madness betting apps to let you know what we like about them, where they can improve, and how you the bettors can make the most out of your experience—including unlocking everything that comes with the welcome bonus after you register for a new account. Here’s what you need to know as you get ready to start playing.
Features at Top March Madness Betting Sites
BetMGM Sportsbook
There’s a reason BetMGM Sportsbook is one of the most popular March Madness betting sites in the industry. New players will receive $200 in Bonus Bets as soon as they place a simple $10 wager on the tournament. You get the bonus bets regardless of whether or not your wager wins.
That means those players will earn cash profit if they win their first bet or receive five bonus bets in equal 20% denominations of their original wager if it loses. Either way you’re in good shape here betting during the NCAA Tournament.
Caesars Sportsbook
If you’re looking to go big at your March Madness betting site, your best bet (literally) is Caesars Sportsbook. All bettors can earn up to $1,250 on Caesars with their first real-money wager. ➜
That’s the largest potential dollar amount on the board and makes it a great offer for bettors of all shapes and sizes. Either you’ll earn cash profit with a win or you’ll receive a matching bonus bet in equal value with a loss.
DraftKings Sportsbook
Want to bet on March Madness? It’ll only take a $5 wager to earn you $200 in bonus bets. Bettors who place a $5 pre-game wager will $200 in Bonus Bets Instantly ➜
That’s effectively +3000 odds on any team to win an NCAA Tournament game. They’re paid out as 8 $25 bonus bets, allowing players to spread them out across bet types and markets. That versatility is what you’ll find with most features at DraftKings Sportsbook.
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DraftKings
Bet $5, Win $150 in Bonus Bets If Your Bet Wins |
Bet Now ➜ |
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69 PLAYERS REDEEMED TODAY!
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FanDuel Sportsbook
It can be stressful placing bets at March Madness betting sites—but FanDuel Sportsbook takes some of that stress away with thanks to a deal that gives you 10x your first bet up to $200.
Just place your first March Madness bet up to $20 ➜ and get 10x your money back in bonus bets, regardless of whether or not your wager hits. You can use the $200 in bonus bets in any way, but you must use them within 14 days. The bonus bets will be credited within 72 hours of placing your first bet.
PointsBet Sportsbook
One welcome bonus is good—but five is great. New bettors at PointsBet Sportsbook will receive a Second-Chance bet up to $50 each of the first five days after registration.
That means a total of up to $250 in second-chance bets, with the unique feature that your first bet of each day is insured. It’s a unique offer for what many consider to be one of the most unique sports betting sites.
BetRivers Sportsbook
Register for a new BetRivers Sportsbook account and earn a Second-Chance bet up to $500. ➜ Though that’s less than some of its competitors, it’s likely plenty for the vast majority of bettors.
Either you’ll earn cash profit on your first real-money wager or receive a matching bonus bet and a second chance to get your bet correct.
Betway Sportsbook
Signing up at Betway Sportsbook secures a solid welcome bonus: Up To $250 In Bonus Funds If Your 1st Wager Loses. It's not huge when compared to the likes of Caesars and BetMGM, but it costs nothing to sign up and a bonus is a bonus, after all.
Either your first March Madness wager is a winner at Betway, or it's a loser and you get your stake back to try again (up to a maximum value of $250 in bonus funds).
Barstool Sportsbook
All new players who register for a new account with the Barstool March Madness Betting Site will receive a $1,000 new player bonus. That means bettors who place a real-money wager up to $1,000 with their very first action will receive a full refund in the form of a bonus bet if it loses.
That’s a second chance to earn your funds back in addition to all of the great March Madness bonuses that Barstool Sportsbook will provide players.
March Madness New User Sportsbook Promos
All March Madness betting sites will offer new bettors some kind of sportsbook promo code that unlocks a welcome bonus. These welcome bonuses all provide bettors with something that enhances the sports betting experience and increases potential payouts. They’re all similar in that respect—but all are unique in their own right.
The two most popular forms of welcome bonuses are first-bet bonuses and bet-and-get offers. First-bet bonuses allow bettors to place a first real-money wager knowing that if that wager loses, they’ll receive matching bonus bets and a second chance to get their bets correct.
Of course, a winning first wager earns cash profit like it would any other bet. Bet-and-get offers work like this: Place a small wager and automatically receive bonus bets that get transferred into your account. There’s less upside here but also less risk—making it a great option for all players.
Where Can I Use March Madness Betting Sites?
Online sports betting is available in more than 30 U.S. states, and that’s great news for players ready to get their hands on all the March Madness betting sites and the odds they provide. Here’s a look at the states where you can legally place bets on college hoops and March Madness:
Odds on March Madness Betting Sites
We always recommend registering with multiple online sportsbooks, not only because you can take advantage of additional welcome bonuses but also because you can shop odds and make sure you’re getting the best value on your bets.
Getting one team’s spread at -110 vs. -115 may not feel like a big difference, but that’s an additional $5 you’re wagering each time to win $100 ($115 vs $100), and that really adds up over time.
While most odds are going to be similar—if not identical—it’s always worth looking around at multiple March Madness betting sites so you are sure you’re getting the best deal each time you place a bet.
Live Betting on March Madness Betting Sites
We know how quickly NCAA Tournament can change in an instant. That means that betting does not end once games begin. Live betting is a major part of all online sports betting sites—and especially during March Madness.
It’s important to have a website (and strong internet connections) because these odds change in real-time, and a missed or made shot will shift odds in a matter of seconds.
All major operators have live-betting functionality and make it easy for bettors to wager in-game. Realistically, it’s easier to place live bets on mobile betting apps but a fast computer and internet will make it possible on betting sites, too.
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DraftKings
Bet $5, Win $150 in Bonus Bets If Your Bet Wins |
Bet Now ➜ |
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29 PLAYERS REDEEMED TODAY!
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March Madness Betting Sites FAQs
Where can I use March Madness betting sites?
March Madness betting sites are available in more than 33 states, plus Washington, D.C. There are restrictions in some states on placing bets involving in-state teams or on games played in a particular state.
Which March Madness Betting Sites offer the best promos?
Different online sportsbooks provide different promotions to their players. Certain features will interest certain players, so it’s tough to say which are the best. All bettors are unique, so you’ll need to determine which kind of bets you want to make and then figure out which online sportsbooks best cater to those needs.
Which March Madness Betting sites have the best odds?
Most March Madness betting sites will tout similar odds on NCAA Tournament games. That being said, it’s important that bettors always shop lines at different operators to see where the best odds are for their specific game. What’s more, many operators offer odds boosts and profit boosts on major markets, which the NCAA Tournament would qualify for. Always register with multiple online sportsbooks so you have access to the best odds at all times.
Which March Madness Betting sites payout the fastest?
What’s great about using all legal and licensed online sportsbooks is that payouts happen in a matter of minutes and hours—rather than days and weeks at offshore sportsbooks. It depends which type of banking method you’re using, but most March Madness betting sites will pay out winnings within 24 hours.
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