Best March Madness Bonuses & Promos - First Round Betting

Article By Jeremy Olson

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Jeremy Olson has been writing about gambling since 2004. He started out by covering poker and branched out into casino games and sports betting shortly thereafter when he started reviewing online casinos and sportsbooks in 2008.

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Last Updated: Mar 14^th, 2024

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March Madness is one of the biggest sporting events annually from a fanfare and betting perspective. Regarding the latter, many March Madness betting sites roll out their best bonuses for this famed college basketball tournament.

That said, the Big Dance is here. If you want to score some great March Madness bonuses, check out our eight offers below. These deals provide hundreds of dollars in bonus funds, while one even offers up to $1,250. What’s more, is that all of these bonuses come from the industry’s best online sportsbooks. 

First-round action began Thursday and continues on March 17 with another full slate of games.

Some of the March Madness betting offers we’ll cover are only available before or during the first round. Therefore, the time is now to scoop the best tournament bonuses — or at least begin your search. After all, some of these promotions will be available up until April 3 (Championship game). When browsing the following list, remember that these bonuses come from reputable betting sites that score well in our reviews.

Best March Madness Betting Promos At A Glance

Exclusive to Gambling.com readers, BetMGM Sportsbook is offering a Bet $10, Get $200 promotion (a.k.a. “March Matchups”). You use code GAMBLINGMARCH and place your first bet worth $10 (or more) on a tourney team to qualify. BetMGM will then give you four bonus bets worth $50 apiece (4x$50). 

You can also enter a free bracket contest before the first game on March 16. First place wins $100,000, while a perfect bracket nets $10 million.

Wagering requirements

The wagering requirements (a.k.a. rollover) and other important terms for this deal are as follows:

• $10 minimum deposit & $10 minimum bet.
• Bonus bets pay winnings minus the stake.
• 1x wagering requirements on bonus bet winnings.
• Promo is available from now until April 3.

How to Claim the Offer

You can claim BetMGM’s March Matchups bonus through the following steps:

1. Visit this sportsbook through our link.
2. Register and use code GAMBLINGMARCH.
3. Make a first deposit worth $10+.
4. Wager at least $10 on a tournament team.

Established 2018

BetMGM Sportsbook Bonus

Up To $1,500 in Bonus Bets If Your First Bet Loses
Bonus Code: GAMBLINGCOM

Bet Now

Bonus Bets Expire in 7 Days. One New Customer Offer Only. Must be 21+ to participate & present in OH. In partnership with MGM Northfield Park. Gambling problem? Call 1-800-GAMBLER. Visit BetMGM.com for T&Cs. US promotional offers not available in NY, NV, or Puerto Rico.

Bet365 offers the best low-roller bonus of the March Madness betting season. It’s giving out $365 in bonus bets for just a $1 wager on the “First Four.” Aside from betting $1, you must also use code GAMBLING and enter the Bet365 Sportsbook Bracket Challenge (free). 

Wagering requirements 

You can see the terms for this Bet $1, Get $365 bonus below:

• $10 minimum deposit.
• $1 minimum bet on a First Four game (March 14 & 15).
• Must enter the Bracket Challenge (free).
• Promo lasts until the last First Four game on March 15.

How to Claim the Offer

You can get this deal by following the steps below:

1. Visit Bet365 and register using promo code GAMBLING.
2. Deposit $10 or more.
3. Wager $1+ on any First Four game.
4. Enter the Bracket Challenge by making your college basketball picks.

Established 2001

Bet365 Sportsbook Bonus

First Bet Safety Net up to $1,000
Promo Code: GAMBLING

Bet Now

Deposit required. Bonus Bets winnings are added to Bonus Bets balance. Bonus Bet wager excluded from returns. T&Cs, time limits and exclusions apply. Must be 21+ and present in OH. Gambling Problem? Call 1-800-GAMBLER

DraftKings has a Bet $5, Get $200 deal going on from now until March 19. In other words, you wager $5 and the DraftKings Sportsbook will give you $200 in bonus bets. The latter come in the form of eight bonus wagers worth $25 apiece. Therefore, you can spread the bonus funds out and enjoy yourself.

Wagering requirements 

Notable terms and conditions on this deal are as follows:

• $5 minimum first-time deposit.
• $5 minimum first bet.
• Bonus bets delivered as eight $25 wagers (8x$25).
• 1x rollover on winnings from bonus wagers.

How to Claim the Offer

The DraftKings March Madness promo is available through the following steps:

1. Visit this betting site through our link CLICK HERE.
2. Register & deposit at least $5.
3. Place a $5 first wager or more.
4. Promo lasts from now until March 19, 2023.

Established 2012

DraftKings Sportsbook Bonus

Bet $5, Get $200 Instantly in Bonus Bets
+ Get a No Sweat NBA SGP Every Day of NBA Playoffs

Bet Now

Must be 21+ and present in OH. Gambling Problem? Call 1-800-GAMBLER.

The Caesars Sportsbook has the biggest promotion on this list. It’s offering up to $1,250 in first bet insurance, along with 1,000 TIER CREDITS and 1,000 REWARD CREDITS®. You can qualify by registering with code GAMBLINGFULL and betting at least $10. If your first bet loses, you’ll receive a matching refund (bet credit) worth up to $1,250.

Wagering requirements 

Important terms and conditions on this deal are as follows:

• $10 minimum first deposit & $10 minimum first wager.
• Receive a matching bet credit if your first wager loses.
• 1x rollover on winnings from the bet credit.
• Bonus available from now until April 3.

How to Claim the Offer

Here are the steps to qualify for this bonus:

1. Visit Caesars and register with code GAMBLINGFULL.
2. Place a $10 minimum deposit.
3. Bet at least $10.
4. Receive a bet credit worth up to $1,250 if you lose.
5. 1x wagering requirements on winnings from bet credits.

Established 2013

Caesars Sportsbook Bonus

$1,000 First Bet on Caesars
Promo Code: GAMBLING1000

Bet Now

Must be 21+ and present in OH. New users and first wager only. Must register with eligible promo code. Maximum bet credit $1,000. Must be used within 14 days of receipt. See Caesars.com/promos for full terms. Void where prohibited. Know When To Stop Before You Start.® Gambling problem? Call 1-800-GAMBLER

FanDuel wants to give you bonus bets worth 10x your first bet up until March 19. You just need to wager at least $5 before the 19th to qualify. If you place a first-time wager worth $10, for example, FanDuel Sportsbook will deliver $100 in bonus wagers. The maximum amount of bonus bets available is $200 for a $20 first wager.

Wagering requirements 

Rollover and other notable terms for this bonus are as follows:

• $10 minimum deposit.
• $5 minimum first bet.
• Any sport is eligible for the first wager—not just March Madness basketball.
• Promo is available until March 19, 2023.
• The bonus bets arrive in your account within 72 hours.
• 1x rollover on winnings from bonus wagers.

How to Claim the Offer

Here’s how to pick up this 10x bonus:

1. Visit FanDuel through our link CLICK HERE.
2. Deposit $10 or more.
3. Place a $5 bet or larger.
4. Collect bonus bets worth $10 your first wager up to $200.

Established 2009

FanDuel Sportsbook Bonus

Bet $5, Get $150 in Bonus Bets

Bet Now

Must be 21+ and present in OH. Gambling Problem? Call 1-800-GAMBLER

Unibet Sportsbook has a special offer exclusively for Pennsylvania March Madness bettors. It’s currently providing up to $500 in first-bet insurance from now until April 3. You can use code MARCH and deposit at least $10 to qualify. Assuming you lose a first bet worth $10 or more, you’ll be reimbursed with up to $500 in bonus funds.

Wagering requirements 

Here are the T&Cs for this March Madness betting promo:

• $10 minimum first deposit & $10 minimum first wager.
• Promo lasts until April 3.
• 1x wagering requirements on bonus funds.
• Bonus bet must be placed at -300 odds or greater (e.g., -225, -150).
• Bonus wager has an expiration date of 30 days.

How to Claim the Offer

You can get this bonus through the steps below:

1. Be within Pennsylvania’s boundaries.
2. Visit Unibet via our link MARCH.
3. Register and use code MARCH.
4. Deposit at least $10.
5. Make a first bet worth $10+.

Established 2013

Caesars Sportsbook Bonus

$1,000 First Bet on Caesars
Promo Code: GAMBLING1000

Bet Now

Must be 21+ to participate. T&Cs apply.

Betway is another top-tier online sportsbook that’s getting into the spirit of March Madness bonuses. It’s offering up to $250 in bonus bets to anybody who loses their first wager. You can get in on the action by visiting the Betway Sportsbook and depositing at least $10. From here, you just need to bet $10 (or more) and see if you win or lose. In the latter case, you’ll receive up to $250 in bonus wagers.

Wagering requirements 

Notable T&Cs on this deal include: 

• $10 minimum deposit (no min. bet listed).
• First wager must be at -300 minimum odds or better (e.g., -240, -135).
• Your first bet needs to settle within 7 days.
• Bonus funds must be used within 7 days of receiving them.
• 1x rollover on bonus bet winnings.
• You have to opt-in to this promo.

How to Claim the Offer

You can follow the steps below to cash in on this deal:

1. Go to Betway through our link CLICK HERE.
2. Sign up and deposit $10 or more.
3. Opt-in to this promotion.
4. Make your first wager at -300 minimum odds (or better).
5. Bonus available until April 3, 2023

Established 2006

Betway US Sportsbook Bonus

Check Out Betway Here

Bet Now

Must be 21+ to participate & present in Ohio. Must be a new verified Betway customer. Gambling Problem? Call 1-800-GAMBLER.

You can enjoy first round March Madness betting in plenty of states throughout the US. In fact, well over two dozen states have legalized and regulated online sportsbooks. Subsequently, these jurisdictions offer licensed and reputable college basketball betting sites. 

You can take comfort in wagering at regulated sportsbooks, which must adhere to each state’s licensing standards and laws. The following state let you legally bet on your March Madness favorites at reputable online sportsbooks:

• Arizona
• Arkansas
• Colorado
• Connecticut
• Delaware
• Illinois
• Indiana
• Iowa
• Kansas
• Louisiana
• Maryland (recently legalized sports betting)
• Massachusetts (recently legalized)
• Michigan
• Mississippi
• Montana
• Nevada
• New Hampshire
• New Jersey
• New York
• Ohio (recently legalized)
• Oregon
• Pennsylvania
• Rhode Island
• South Dakota
• Tennessee
• Virginia
• Washington DC
• Washington
• West Virginia
• Wyoming

Why Sign Up with The Top Sportsbooks? 

All of the betting sites covered here have minor differences from each other. However, they share similarities regarding reputation, betting markets, promotions, and customer support.

You can choose any online sportsbook here and find a reputable operator with great customer service. Furthermore, you’ll have access to plenty of promotions and bet types. The latter is key during March Madness betting because more betting options keeps things entertaining.

H3: Stay up to date with the latest betting offers and promotions at Gambling.com

You can enjoy even more March Madness bonuses by checking out our sports betting sites promo codes. Gambling.com works hard to scour various online sportsbooks and find the hottest basketball tournament deals.

Established 2018

BetMGM Sportsbook Bonus

Up To $1,500 in Bonus Bets If Your First Bet Loses
Bonus Code: GAMBLINGCOM

Bet Now

Bonus Bets Expire in 7 Days. One New Customer Offer Only. Must be 21+ to participate & present in OH. In partnership with MGM Northfield Park. Gambling problem? Call 1-800-GAMBLER. Visit BetMGM.com for T&Cs. US promotional offers not available in NY, NV, or Puerto Rico.

Updated by

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Jeremy Olson has been writing about gambling since 2004. He started out by covering poker and branched out into casino games and sports betting shortly thereafter when he started reviewing online casinos and sportsbooks in 2008.

Read Full Bio

Jeremy Olson

Last Updated:   Mar 14^th, 2024

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