NY Sports Betting Bonus
& Online Promo Codes For May 2022

NY Sports Betting Promos Are Live Now

Seven of the nine approved sportsbooks are now available and offer sign-up promotions for new players: DraftKings Sportsbook, Caesars Sportsbook, FanDuel Sportsbook, BetMGM, BetRivers, PointsBet, and WynnBET.

Each sportsbook has at least one welcome bonus to consider when opening a new account. The most popular types of offers are a deposit match or risk-free bet up to a certain amount. A deposit match is an amount that is given in various forms that matches how much money the user puts into their account initially. A risk-free bet is the first wager the user places, and it is given back as site credit if the settlement loses.

At this time, only DraftKings Sportsbook offers a completely free bet, which is a $50 one-time use offer. It does require the new user to deposit at least $5 into their account. Get additional information on this offer, and what other competitors are featuring, for their welcome bonuses.

How much does New York State receive in online sports betting revenue? Take a look at detailed information on wagers and how much gaming operators and the state government receive on our revenue page.

Get the largest bet return possible: Compare parlay odds across all NY online sportsbooks

Special Gambling Promotions Now Available In New York

DraftKings Sportsbook

• Bet $5 or more on any NBA playoffs game moneyline, get $150 in free bets if you win
  • Place a $5 or higher bet on any moneyline for an NBA playoff game
    • If the wager wins, you are eligible for the reward
  • Free bets distributed in 6 separate $25 wager credits
  • Reward received after bet placement
  • Free bets valid for 7 days
  • Available until May 31
• Claim limited-time offer here

BetMGM Sportsbook

• Bet $10 or more on any NBA moneyline, get $200 in free bets
  • Use code SHARP when signing up
  • Free bets are awarded unless neither team of the game wagered on scores a 3-pointer
  • Free bets distributed in 4 separate $50 wager credits
  • Reward received within 24 hours after a 3-pointer is made
  • Free bets valid for 7 days
  • Available until June 1
• Claim limited-time offer here

Every NY Online Sports Betting Sign-Up Bonus for May 2022

Here are all the New York State sportsbook promos currently available online. Additional terms and conditions apply.

Best NY Sportsbook Promo Offers – May 2022

Best New York Sportsbook Promos – Additional Information

DraftKings New York Promo Code

Because it offers competitive odds, reliable apps for iOS and Android, and a lot of promotions, DraftKings is one of the most popular online sportsbooks in the United States. You can also use DraftKings via a web browser. With the best overall quality and innovation, the platform is a strong performer in New York’s sports betting market.

New users can get a $50 free bet after making a minimum deposit. If you’re looking to receive the biggest possible deposit bonus, DraftKings is your spot. While BetRivers doubles your deposit and DraftKings matches it by 20%, it allows for bonus credits up to $1,000.

There’s still plenty to wager on after Super Bowl LVI and the NFL season. Both the NBA and NHL seasons are into their postseason. The MLB is also starting its season and both the New York Yankees and New York Mets are off to strong starts. Take a look at our DraftKings Sportsbook review to see all the promos available.

FanDuel and DraftKings set aside competition to join forces in a bid for a sports betting license in New York. They are part of one of the two major coalitions.

Caesars New York Promo Code

Caesars has some of the best welcome bonuses available for New York. The latest offer is up to $1,100 on first bet insurance. After making a deposit, the first wager of up to $1,100 is eligible. No minimum odds required are listed, but always check the terms and conditions to confirm.

The insurance means that the amount first wagered is given back as single-use site credit if it loses. To qualify for insurance, the first bet must be placed within 30 days of opening the account. The site credit will expire 14 days after it is issued.

After the opening promotions, current users will see a large number of promotions available. While existing free bets cannot be used toward these, it’s a way to gain additional free bets for other wagers. Promotions will be offered for a number of popular sports and leagues. There’s almost at least one new promotion to consider on a daily basis.

Caesars Sportsbook is part of Kambi Group’s bid for a sports betting license. It boosts Kambi’s chances even further than its name recognition due to its existing business partnership with the Oneida Indian Tribe. Oneida properties Yellow Brick Road Casino, Turning Stone Casino Resort, and Point Place Casino are home to brick-and-mortar Caesars Sportsbooks.

FanDuel New York Promo Code 

FanDuel has strong odds on underdogs and mid-tier futures odds. So, it’s a worthwhile online sportsbook for New York bettors to consider if they haven’t already tried it in New Jersey. The traditional welcome offer from FanDuel is a risk-free bet for new users. Its $1,000 risk-free bet only refunds the first bet, so bettors are encouraged to bet big from the beginning.

FanDuel constantly provides a handful of promotions to current users. Common features include risk-free bets on Same Game Parlays and parlay insurance. Note that the initial welcome bonus must be completed first, and any bonus money (also known as site credit) cannot go toward a promotion. This will be alerted on the betslip, where users can turn off the bonus money.

FanDuel Sportsbook holds the largest market share in betting handle in New York, dominating all the competition within the first half of 2022. Its application included DraftKings, BetMGM, and Bally Bet as part of the bid. The coalition was selected by the NYSGC.

BetMGM New York Bonus Code

BetMGM has a near-perfect rating in Apple’s App Store for delivering an extremely reliable betting experience. It also has some of the best promotions in online sports betting, including the ongoing Parlay Plus offer, through which bettors can boost a seven-leg parlay by 40 percent. Even a four-leg parlay is boosted by 10 percent.

The traditional offer available everywhere – a $1,000 risk-free bet. Any amount up to $1,000 on the first bet will be given back as site credit if it loses. Make a deposit of up to $1,000 and use that money to make the risk-free bet. If it loses, that money is returned as multiple free bets if it is $50 or more.

BetMGM is part of FanDuel Sportsbook’s bid for an online betting license in New York along with DraftKings and Bally Bet. That’s a powerful coalition that aided in their approval of an online sportsbook in the state.

PointsBet New York Promo Code

PointsBet offers a unique type of betting. It offers standard fixed-odds wagers, but it also offers “PointsBetting.” Bettors can win exponentially more money by making a precise prediction about point spreads and point totals, but bettors risk more money too, so this is for risk-seeking bettors only.

In total, up to $2,000 is available risk-free for the welcome bonus. This is split up into two different bets. The first one is a fixed-odds bet up to $500. Any normal wager on the sportsbook with standard odds qualifies. The other is up to $1,500 utilizing the special “PointsBetting” feature.

Any free bets expire within seven days after issuance. Each free bet given back can be divided up to four times. For example, a $500 risk-free bet returned can be split into four different $125 free bets.

The Kambi Group received a sports betting license from the NYSGC, so PointsBet will be one of the skins. That gives New York bettors access to a big risk-free bet and all the other promotions that this top-tier online sportsbook has to offer.

BetRivers New York Bonus Code

BetRivers offers the best welcome bonus in sports betting, and that makes it one of the popular sportsbook brands in the US. BetRivers skips the offer of a risk-free bet and goes straight for a welcome bonus up to $250. The best part of it is that it requires only a one-time playthrough before it becomes withdrawable cash.

Rush Street Interactive, which owns BetRivers, is part of Kambi Group’s successful bid for an online sports betting license in New York. BetRivers will be available in the near future.

WynnBET New York Promo Code

WynnBET announced a partnership with the New York Jets, and it will open a luxury lounge at Met Life Stadium. Both their website and app have a more simplified design, and there are numerous changing promotions and deals to boost potential winnings. Their mobile sportsbook is the seventh to go live in the state. WynnBET is part of the winning Kambi Group bid.

Resorts WorldBET Bonus Code

From the Resorts World Catskills Casino, residents are able to bet online with the Resorts WorldBET app and desktop site. The casino is the closest to New York City residents, so there will be plenty of brand familiarity. Even the platform will be familiar – it was built through a partnership with PointsBet. The layout is exactly the same as PointsBet and includes most of the features, outside of daily parlay odds boosts and the “PointsBetting” option. Odds do vary from the PointsBet sportsbook itself.

Future Sportsbooks in NY

Not every sportsbook app has launched in New York. Below is a list of sportsbook offers found in other states for operators that are licensed but not approved for launch.

Bally Bet New York Promo Code

A newcomer in the sports betting industry is Bally Bet, which has recently launched its platform in a handful of states. One of the first locations in their portfolio will be in New York. At the moment, Bally Bet offers a $550 risk-free first bet and an additional $100 free bet just for signing up.

In addition to the welcome bonuses, there are various reward systems for frequent bettors. A trophy system provides free bets for winning streaks. While app design and performance will need to be improved, there’s a lot of potential in linking their existing properties.

Bally’s is expanding their presence most notably in the regional sports market, taking over numerous local sports networks that show top collegiate and professional sports. Bally Bet is part of the FanDuel Group consortium which features some of the most recognized names in the industry.

Types Of Sports Betting Bonuses In New York 

Bettors will find a bedrock of standard bonuses in New York.

New player bonuses are exclusive to new bettors. Welcome bonuses entice new bettors to sign up for sportsbook accounts with specific sportsbooks. Ongoing bonuses offer promotions throughout the year, giving regular sports bettors many betting options. And some sportsbooks offer loyalty or VIP programs to reward high rollers.

But understanding what to do with these wagers is important too. Here’s what bettors need to know. 

Risk-Free Bets 

Risk-free bets are one of the two most common types of bonuses. They’re particularly useful welcome bonuses because the dollar amounts bettors can redeem can be high. For example, BetMGM and FanDuel offer a $1,000 risk-free bet. As we’ve seen, bettors have to use their first wagers to cash in on this bet. That’s a common condition among risk-free bets. So, bettors have to make their first wagers with this bonus in mind. 

Bettors may also see smaller risk-free bets on events throughout major sports seasons, which will be available to current members rather than new signups. These risk-free bets may not be more than $25 or $50, but they’ll reward bettors for taking risks. A common condition may be to award bettors a small risk-free bet for betting a certain amount of money on a certain sport or league in a set time frame.

Parlay Insurance

An emerging bonus that is being offered at multiple sportsbooks is parlay insurance, both traditional and single-game format. Parlays can be a fun way to bet and potentially win big money, but the vast majority of wagers with this method aren’t successful. Sportsbooks can offer a bit of relief with a parlay insurance promotion.

Legs of a parlay are the different props that can be added. In order to be eligible for parlay insurance, bettors typically need at least three or four legs. The parlay insurance comes in when one of these legs does not hit. So if three of the four legs are successful, the wager is often given back as a free bet or site credit.

Another frequent requirement is an odds limit that must be met. For example, each leg must have at least -200 odds or greater, or the combination of all the legs must have odds of +400 or higher. When we say “greater” or “higher” than +400, that means +450, +500, or anything above that is acceptable. If the total legs equal +350 odds, that wouldn’t qualify.

Various terms and requirements for parlay insurance will differ across sportsbooks. Some platforms, like BetMGM, offer parlay insurance all the time for particular sports and leagues. We’ve seen a significant boost in parlay insurance, or even risk-free parlay bets, as sportsbooks launch their single-game parlay features.

Deposit Bonuses

Deposit bonuses are the other common bonus type. It’s also often used as a welcome bonus, as we saw with DraftKings. Deposit bonuses have two parts to them. The first is the match rate. That tells bettors how much they have to deposit or wager to get $1 in bonus credit. 

For example, DraftKings offers a $1,000 deposit bonus at a 20% match rate. For every $25 wagered, bettors receive $1 in bonus credit, which is effectively a 5x wagering requirement. At BetRivers, the offer is a $250 deposit bonus at a 100% match rate. Bettors only have to wager $1 to get $1. So, even though BetRivers offers less, more bettors are likely to redeem BetRivers’ full value than DraftKings’ bonus. 

Deposit bonuses are usually limited to welcome bonuses. They’re rare for ongoing bonuses. 

No-Deposit Bonuses

No-deposit bonuses are the closest thing to free cash that sportsbooks offer. They’re small amounts of site credits awarded to bettors for signing up for sportsbooks. They’re usually not more than $50, and they’re often not even that much. For example, Barstool Sportsbook offered a $10 no-deposit bonus just for signing up.

For the most part, no-deposit bonuses are very limited. These are generally offered within special time frames, such as sports betting officially launching in a specific state or a limited-time promotion to receive a free bet. That’s certainly the case in New York, where there were a few pre-launch bonuses in under 48 hours prior to launch.

How To Claim The Best NY Sportsbook Promos 

Claiming online sportsbook bonuses begins with selecting the right platform. Usually, that means searching the app store or browsing different sportsbook websites to decide which has the best welcome bonus or other features that set it apart. Bettors can find sportsbooks on websites in-browser. so if bettors don’t want an app, then they can keep their sports betting on their computers. 

However, selecting a sportsbook also means differentiating between sportsbook apps and daily fantasy sports apps. Some sportsbooks have separate apps for each service, and bettors need to make sure they’re selecting the sportsbook app. Further, some sportsbooks have one app while others have different ones for each state. Bettors should make sure that they select the New York version of the app.

From there, downloading the app is straightforward. iOS users can download their apps from the App Store. The Google Play store just recently allowed gambling apps so not all online sportsbooks are available. Note that with a newer launch, some New York-specific apps are still in the approval process to get into the iOS and Android marketplaces. Signing up through our links will provide a nice welcome bonus and access to the app through the device’s app store or sportsbook’s website.

After the app is downloaded, bettors can register their accounts. Many welcome bonuses come with a promo code. The box to enter that promo code is usually on step one or step three of the registration process. If bettors have promo codes, then they’ll use them during registration. 

Remember: always read the terms and conditions before opting into a promotion. You’ll need to know the minimum odds for an eligible bet, the wagering requirements for a deposit match bonus, and so on. Welcome bonuses and promotions are optional, and bettors can simply disregard the offers and get right to betting.

NY Sportsbook Promos – FAQs