If creating a list of the most beloved sporting events in the United States, there's no doubt that March Madness and the NCAA Tournament are near the top for several reasons.
March Madness is not only one of the most popular annual sporting events in the country among fans of all kinds, but it is also the busiest time of the year for sportsbooks and those interested in the gaming industry. Unfortunately for all, the NCAA Tournament was conspicuously absent last time around. But it is set to return in all its glory in 2021.
The three-week college basketball tournament consists of 63 total games not counting the First Four contests and presents a huge range of betting opportunities for those enjoying the action. But before any profits can be made, bettors must create online sportsbook accounts at one of the many regulated sites available in a growing number of states across the country.
With so many sites to choose from, the time is right to help educate the public about what each sportsbook has to offer so that each person can choose a site that best fits their preferences.
Below, we'll go through the March Madness betting bonuses to consider and detail some NCAA Tournament betting promotions that sportsbooks are set to offer.
One of the most important aspects of selecting an online sportsbook to sign up with is the signup bonuses. These welcome offers are presented by all sites but some are more advantageous than others, and it's important for bettors to put themselves in a position to succeed from the very beginning of their betting journey by creating an account that comes with a beneficial bonus.
This is especially true as March Madness approaches and betting action heats up for a period of several weeks on end. Consider the following sportsbooks if you're on the lookout for the best NCAA Tournament betting bonuses from online betting sites:
DraftKings Sportsbook enjoys extreme popularity in every state where it operates for many reasons, but one of those is definitely its welcome bonus. DraftKings' current offer to new players comes with not just one, but multiple perks.
First, new customers receive a $25 no deposit bonus just for signing up and creating an account with a BonusSeeker DraftKings promo code. From there, these new bettors are awarded with a deposit bonus, which involves the sportsbook matching the original deposit.
Customers will receive a first deposit bonus up to $1,000, with the sportsbook matching the original investment 20 percent of the way.
BetMGM is a sportsbook that is fast becoming known for its excellent welcome offer to new signups. BetMGM offers a first deposit bonus but this site goes about things in a different way than some of its competitors that offer the same type of bonus.
After creating a new BetMGM account, players receive a first deposit match up to $500, with the sportsbook matching the initial investment 100 percent of the way! This means that if you deposit $20, you receive an additional $200 in site credit, and now have $400 to play with. If you invest $500, your deposit will be matched the entire way and there will then be $1,000 in site funds to use for sports betting.
Another popular welcome offer is a risk-free bet, which is exactly what William Hill offers to new players after signing up. This bonus is one that minimizes risk for new players on the very first wager they place with the sportsbook.
How it works is pretty simple. After signing up and making a deposit, new William Hill customers must place a sports bet of any kind. If that wager is to lose, the player is refunded in site credit up to $500! This means bettors can take a big swing from the very beginning, knowing that they will be refunded if their first bet winds up in a loss.
FanDuel is well known for its excellent promotions and bonuses, which definitely includes the welcome offer. FanDuel also offers a risk-free bet as its signup bonus, but it's taken to a new level here.
After creating a new FanDuel account and making a deposit, players are eligible for a truly enormous risk-free bet with their very first wager. If the initial bet made on the site winds up in a loss, bettors will receive a refund up to $1,000 in site credit!
This opens up the opportunity to make a massive bet with that first bet knowing the risk is minimized and the worst that can happen to bettors is that the stake is returned to them in the form of site credit if they lose.
If you aren't in a state with legal online sports betting, you can place legal sports picks at FendOff Sports. Read our FendOff Sports review for more information and get our exclusive welcome bonus below:
In addition to the generous welcome bonuses offered by various online betting sites, there are also several attractive NCAA Tournament sportsbook bonuses bettors may be able to take advantage of following Selection Sunday as the event returns in 2021.
DraftKings is known to offer several March Madness betting promotions each and every year, including the following free bet offer, which covers them even if their selection loses. Once bettors place a moneyline wager on any team to win an NCAA Tournament game, they can earn a free bet up to $25 if their selection loses but still manages to score 70+ points in the game!
For the opening two rounds of the tournament, DraftKings has a special risk-free bet offer for new players. After signing up for a new account, the bettor must make their first wager on any March Madness market. If the bet is a loss, DraftKings will offer a refund in the form of a free bet equal to the original stake, up to $50!
If new players couldn't create an account in time for the start of the tournament, DraftKings has you covered ahead of the Sweet 16 and Elite Eight rounds.
After signing up, new customers must make their first bet on the moneyline for any team playing in the NCAA tournament. If that team is ahead at halftime but loses the game, the player will receive a refund in the form of a free bet equal to the original risk, up to $50!
Prior to the most recent tournament, PointsBet offered a great deal for anyone looking to bet on March Madness games. After placing a wager on the point spread of any tournament game, bettors can receive $3 in site credit for every three-point field goal made by the team of your choosing, whether that team wins or loses.
PointsBet loves giving bettors an incentive to take an underdog, and that's what the Cinderella Heartbreak promotion is all about. Place a fixed odds moneyline bet on a team seeded No. 10 through No. 16 (against a higher-seeded team), and get your money back in bonus bets up to $100 if that team loses by three points or less!
Fox Bet has offered a promotion in the past that makes it incredibly easy to earn free bets during March Madness. All bettors need to do is place a $20 futures wager on any team seeded No. 2 through No. 16 (all non-No.1 seeds) to win the NCAA Tournament. From there, you get $10 in free bets for each round that team advances.
While No. 1 seeds have the best chance of winning the title and are excluded from this promotion, several top-flight teams are still available for choosing. Plus, advancing a few rounds without a championship could still earn more in free bets than was staked on the original wager, which still puts bettors ahead.
FanDuel is another sportsbook that has offered the opportunity to earn bonuses as the tournament progresses after placing a bet on an eventual champion. At FanDuel, bettors must opt in and place a futures wager of at least $25 on any team of their choice to win the National Championship.
After the wager is placed, bettors will earn $5 in site credit for each round that the team advances through the tournament. The best part? No. 1 seed are included in this promotion. Top seeds win the NCAA Tournament more often than any other seed, and selecting one of them offers the best chance to win the original bet in addition to stacking up the site credit.
The most recognizable thing about March Madness is the NCAA tournament bracket. From Selection Sunday until the event begins several days later, the talk of the sports world is the bracket as debate heats up about which teams will make it to the Final Four.
Whether or not you are taking part in a bracket contest, having one handy can be of huge help. Print your March Madness bracket template to keep track of the games you've bet on and how the tournament is progressing, in addition to staying current on what the path to the Final Four is for each team.
There are also plenty of opportunities to get involved with the NCAA Tournament bracket via the online sportsbook of your choice. Check out the options for March Madness bracket pools that can be found at online sportsbooks in New Jersey and other states where wagering is legal.
FanDuel is one brand known for its steady stream of promotions, especially around March Madness. Some sportsbooks require an entry fee but FanDuel allows players to fill out a free March Madness tournament bracket, and that makes players immediately eligible to win part of the $250,000 in prizes.
Better yet, you don't need a perfect bracket to qualify for prizes. Below is how the payouts are broken down for for FanDuel Sportsbook's free March Madness bracket pool:
Unlike most sites, DraftKings offers multiple March Madness bracket promotions ahead of the NCAA Tournament. The first is a free-to-play option that is open to anyone with a DraftKings account, which features $64,000 in prizes to be awarded nationally.
The second is a far more lucrative offer and one that is exclusive to those in the state of New Jersey. For a $20 entry fee, players can be entered into a pool that pays up to $100,000 in total prizes.
DraftKings also offers the chance to enter public or private bracket contests at the start of the first round, and new ones will also be created for the Round of 32 and the Sweet 16 to keep players involved throughout the tournament.
This sportsbook has been known to offer an extremely generous first prize of a $5,000 free bet for the person who scores the most points in the PointsBet Bracket Challenge.
PointsBet is a unique platform, so it makes sense that its NCAA Tournament bracket promotion is different from any other. First, players must fill out a bracket for the tournament and will earn points for every correct pick.
The site adds an incentive for picking the underdog (according to the betting odds) so if you're the person in your pool who takes pride in picking upsets, this promo is for you. Each favorite still earns a point, but the underdogs will earn you two points per win.
In order for that game to be eligible for your score in the contest, however, a $10 moneyline bet must be placed on the game.