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March Madness Betting Bonuses: Claim the Best March Madness Betting Promos

Last Updated on 09/04/2024

March Madness is the best time of year for college basketball fans as the top teams in the country battle it out to be crowned national champions.

We’ve got everything you need to know about betting on the event, including how to claim a March Madness bonus and the best March Madness promos out there.

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FanDuel

One of the big-names out there, FanDuel offers great promotions and offers quality live streaming options. Its competitive odds on offer are always something to keep an eye on. Being one of the market leading sportsbook brands out there, it’s no wonder this is also a winner of ours.

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Best March Madness Betting Promos

Each March Madness bonus has its pros and cons, and each bettor is different, so it’s important to find the best one that suits you.

The table below details the best March Madness sports betting promos currently available, with regular updates to ensure no offer is missed.

DraftKings

Don’t miss out on $150! New players who sign up before 4/14/2024 will be automatically eligible for this deal when they wager $5. They’ll get $25 instant bonus bets to use within a 7 day period throughout the tournament.

Terms and conditions apply, see here to find out more.DraftKings have a stellar reputation and they come highly recommended by us as one of the most used Sportsbook products out there.

How to Choose a March Madness Bonus

There’s so many March Madness betting promos out there that it can be overwhelming, especially for new bettors.

To help you out, we’ve highlighted a few things that you should always consider before registering for a new betting site and before diving into a bonus.

Value of the bonus

An obvious one to begin with. If you’re not attracted by the value of the bonus, there’s probably no point in claiming it. March Madness bonuses can be anything from a few dollars to thousands, and there’s more than enough available to you that you don’t have to settle for an offer that doesn’t tickle your fancy.

Type of bonus

There’s a number of different bonus types available, such as matched deposits and risk-free bets, and certain types can require sizable deposits. If a bonus has too many steps or needs a deposit that makes you uncomfortable, choose a different one.

Deposit Methods

Any good sportsbook offers lots of ways to fund your account, but not all of them are eligible for the bonus.

Qualifying Bet

You usually have to place a bet to trigger the bonus, and this may come with sports restrictions or minimum odds.

Expiration Date

Bonuses don’t (usually) last forever. Some betting sites only give you a few days, while others are happy to let you have a few weeks. If you want to bet on March Madness, make sure the bonus will still be active during the tournament!

Wagering Requirements

Sadly, wagering requirements have still not fully left us, and you may have to play through your bonus multiple times before you can withdraw any winnings.

Claiming a March Madness Promo

Now, you’ve decided which of the March Madness deals you like the most, the final step is to claim it. Don’t forget that you can claim as many of these promos as you like!

The best US sportsbooks all make this process pretty smooth, but always make sure you understand the welcome offer fully before opening an account.

  1. Choose the site from the list at the top of the page. Remember to read the T&Cs of the March Madness bonus so you know exactly what you need to do.
  2. Register for a new account. Sign up for the sportsbook, remembering to use the March Madness promo code when prompted (if necessary). You must be of at least the minimum legal age in your state to register, which is anywhere from 18-21.
  3. Deposit and place your qualifying bet. Most March Madness promotions require you to deposit and place a bet to start the bonus. Make sure to adhere to at least the minimum amounts for both.
  4. Claim your bonus. Receive your March Madness bonus to use on any game within the tournament.

Best Betting Apps for March Madness

Any good sportsbook has dedicated betting apps for iOS and Android, making it simple to place bets on your phone. Given the frequency of games during March Madness, especially in the early rounds, a reliable betting app is hugely important to bettors.

Every mobile app is also scored on criteria like range of markets, odds, promos, bonuses, and how easy it is to navigate.

DraftKings Sportsbook

draftkings sportsbook reviews
DraftKings: Pros & Cons
  • Diverse sports book
  • Generous promotions
  • User-friendly betting platform
  • Geographic restrictions

DraftKings made its name as the innovator of Daily Fantasy Sports and continues to be a major player in the sport, entering the betting sphere just months after legalization in 2018.

New DraftKings bettors can get a $1,000 no sweat first bet plus same game parlay insurance after registering and depositing at least $5. If your first bet loses, you get a bonus bet back in the amount of your original wager and a bonus bet back in the amount of your losing SGP.

The DraftKings app is one of the best for US bettors thanks mainly to its usability and easy navigation, making it simple to find the market you want to bet on and place wagers.

There’s also a quick link to men’s college basketball on the right-hand side when you open up the app, so it’s easy to bet on March Madness.

bet365

Pros and cons of Bet365
Pros and cons of Bet365
  • Combined sportsbook and online casino platform
  • Massive range of sports betting markets available
  • Excellent range of banking methods including PayNearMe
  • Not a homegrown US sportsbook

Bet365 is one of the biggest betting brands in the world, and their app is excellent for both new and regular bettors.

Mainly, the bet365 app is fast and incredibly responsive, making it perfect for March Madness betting when there are a few games going on at once. It’s also simple to deposit and withdraw at the touch of a button.

The bet365 March Madness bonus is attractive, too, with $150 worth of bet credits on offer in exchange for depositing $10 and placing a $5 bet on anything.

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At bet365 we don't do ordinary, that's why if you sign up now you'll get the choice of two great New Customer Offers, the First Bet Safety Net up to $1000 or Bet $5 and Get $150 in Bonus Bets. Deposit required. Bonus Bets wager excluded from returns. T&Cs, time limits and exclusions apply. Gambling Problem? Call 1-800-Gambler 21+

FanDuel Sportsbook

Pros and cons of FanDuel
Pros and cons of FanDuel
  • Well-known company
  • Excellent range of markets
  • Clever site design
  • Geolocation issues

FanDuel Sportsbook is another app that offers excellent usability and easy navigation, clearly designed to make things as simple as possible for bettors. They also have some of the March Madness best prop bets available for those who are in states that allow betting on college props.

As a new FanDuel app customer, you can get $150 in bonus bets when you register and place a $5 bet that wins. It’s a shame that your initial wager has to win for you to be able to get the March Madness bonus funds, but the quality of the app means this shouldn’t deter you.

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What is March Madness?

March Madness is the informal name for the Division I College Basketball tournament, which sees the best 68 teams in the USA vie for glory.

Eight of those colleges play in the First Four and the four winners advance to the main bracket, which consists of four quarters each with 16 teams in.

The first two rounds of the main tournament, a total of 48 games, take place across a four-day span in March - hence the name March Madness!

When is March Madness 2024?

The 2024 tournament starts on March 19 at University of Dayton Arena, Dayton, Ohio. The main bracket then begins on March 21 and the Championship Game takes place on April 8 at State Farm Stadium in Glendale, Arizona.

Where is March Madness 2024 Held?

Like every year, March Madness is held in a few different cities, and each college is assigned to a bracket that makes some sort of geographic sense.

As some states have betting restrictions on games that take place within their state, it’s always useful to know where a tournament matchup is being held.

This year’s hosts are:

First Four - March 19 and 20

  • University of Dayton Arena, Dayton, Ohio

First and Second Rounds (Subregionals) - March 21-24

  • Spectrum Center, Charlotte, North Carolina
  • CHI Health Center, Omaha, Nebraska
  • PPG Paints Arena, Pittsburgh, Pennsylvania
  • Delta Center, Salt Lake City, Utah
  • Barclays Center, Brooklyn, New York
  • Gainbridge Fieldhouse, Indianapolis, Indiana
  • FedExForum, Memphis, Tennessee
  • Spokane Veterans Memorial Arena, Spokane, Washington

Regional Semi-Finals and Finals (Sweet Sixteen and Elite Eight) - March 28-31

  • TD Garden, Boston, Massachusetts
  • Crypto.com Arena, Los Angeles, California
  • American Airlines Center, Dallas, Texas
  • Little Caesars Arena, Detroit, Michigan

National Semifinals and Championship (Final Four) - April 6 and 8

  • State Farm Stadium, Glendale, Arizona

March Madness Betting

Every game is available to wager on, from the first round to Sweet 16 betting to the championship game, and there are dozens of markets to bet on.

Whilst the availability of player props does depend on the state you’re betting from, you can still have a punt on some March Madness upset predictions if you fancy another number one seed to fall to a #16 - just like last year when Purdue lost to Fairleigh Dickinson in the first round.

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March Madness Futures Betting

As well as betting on individual games, March Madness promotions can also be used on futures to potentially give you long-term interest in the tournament.

Odds have moved up and down all season and will continue to do so as the teams are whittled down during the final tournament.

Reigning champions UConn, who defeated San Diego State last year, are +500 to be the first team since the Florida Gators in 2007 to retain the crown.

Houston Cougars are +650 to break their duck and win the championship for the first time ever, whilst Purdue Boilermakers are just behind at +700.

If you’re into sleeper picks March Madness betting sites offer plenty of longshots, including South Carolina Gamecocks at +8000 and Kansas Jayhawks at +3500. Both of these colleges are projected to be seeded in the top-six of their respective bracket quarter.

March Madness betting rules are a bit more complex than anyone would like them to be.

Most states that have legalized sports betting allow punters to bet on college sports, but there’s usually restrictions and caveats, so make sure you know your state’s rules before claiming a March Madness bonus.

It just depends on which state you’re trying to bet in, where the game is being played, and which colleges are playing… simple, really.

  • Arizona - No betting on player props.
  • Arkansas - No restrictions.
  • Colorado - No betting on player props.
  • Connecticut - No betting on colleges based in Connecticut, unless they’re playing in a tournament (like March Madness!).
  • Delaware - No betting on games involving a Delaware college.
  • Florida - No betting on player props.
  • Illinois - No betting on player props for Illinois colleges. All bets involving Illinois colleges must be placed in-person.
  • Indiana - No betting on in-play player props.
  • Iowa - No betting on player props.
  • Kentucky - No restrictions
  • Kansas  - No restrictions.
  • Louisiana - No restrictions.
  • Maine - No betting on Maine colleges and no betting on player props for any college.
  • Maryland - No restrictions.
  • Massachusetts - No betting on colleges based in Massachusetts, unless they’re playing in a tournament (like March Madness!), and no betting on player props.
  • Michigan - No restrictions.
  • Mississippi - No betting on player props and all wagers must be placed at retail locations.
  • Montana - Bets must be placed at a retail location, but otherwise there are no restrictions on college betting.
  • Nebraska - No betting on Nebraska colleges.
  • Nevada - No restrictions.
  • New Hampshire - No betting on games involving a New Hampshire college or any games that are held in New Hampshire.
  • New Jersey - No betting on games involving a New Jersey college or any games that are held in New Jersey.
  • New Mexico - No state restrictions, but each site can decide on their own rules.
  • New York - No betting on games involving a New York college and no wagering on any player props.
  • North Carolina - No restrictions.
  • North Dakota - No state restrictions but each site can decide on their own rules.
  • Ohio - No betting on player props.
  • Oregon - No betting on college sports.
  • Pennsylvania - No betting on player props.
  • Rhode Island - No betting on games involving a Rhode Island college or any games that are held in Rhode Island.
  • South Dakota - No betting on South Dakota colleges and no betting on player props for any college.
  • Tennessee - No betting on player props or in-play team props.
  • Vermont - No betting on colleges based in Vermont, unless they’re playing in a tournament (like March Madness!).
  • Virginia - No betting on games involving a Virginia college and no betting on player props.
  • Washington - No betting on games involving a Washington college or sponsored by a Washington college, and no betting on player props.
  • Washington DC - No betting on games involving a DC college or any games that are held in DC.
  • West Virginia - No betting on player props.
  • Wisconsin - No betting on games involving a Wisconsin college.
  • Wyoming - No restrictions.

Conclusion

The NCAA Basketball Championship is just around the corner and so there are plenty of March Madness bonus options to get stuck into.

As well as individual games with dozens of markets available, you can also bet on who will win March Madness and who will win each side of the bracket. The number and types of markets available depend on which state you are betting from.

Remember to read the T&Cs of each March Madness betting promo before you get stuck into it, and also that you can claim as many of the bonuses on this page as your heart desires.

FAQs

How do bonus bets pay out?

Bonus bets pay out in cash, like regular bets. The only main difference is that you don’t get the bonus bet returned, only the winnings. Some sportsbooks may impose wagering requirements on a bonus, which means you may have to wager the winnings a certain number of times before you can withdraw.

How do you bet on the winner of March Madness?

Login to your preferred sportsbook and navigate to NCAA Men’s Basketball. Then click on Futures or Outrights, and select the team you want to bet on. NCAA Men’s Basketball may also be listed as March Madness.

What is a betting bonus?

A betting bonus is essentially free money that a sportsbook gives out to use only on their site. It allows customers to place bets without spending their own money while also reaping the potential winnings.

Can you cash out bonus bet?

No. A bonus bet is not real money in the sense that you can withdraw it back to your bank account. It can only be used at the sportsbook that gives it to you, and it must be used within the given expiration date.

How do you bet on the NCAA basketball tournament?

Go to your favorite sportsbook and navigate to basketball, then to College or NCAA. Tournament games will be listed there, allowing you to bet on game lines individually, create parlays, or bet on the March Madness winner.

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