Caesars Sportsbook may be one of the most recognizable names in gaming, but its online sports betting platform took a while to truly take off. After aggressively revamping its mobile app and betting interface, Caesars Sportsbook propelled itself into the upper tier of sportsbook operators. And with its improvements, Caesars also introduced an Emperor-sized welcome bonus.
The new and improved Caesars Sportsbook bonus gives new users a chance to place their first wager and get a refund paid as a bonus bet credit worth up to $1,250 if it loses. And on top of that, Caesars welcomes new customers with 1,000 Reward Points and 1,000 Tier Credits to give them a running start in its new and improved Caesars Rewards loyalty program.
We examine if this titanic Caesars signup bonus is as glorious as it sounds in the sections below.
Caesars Sportsbook Promo Code: First Bet Is On Caesars
- Promo code: BUSAFULL
- Eligible States: AZ, CO, IA, IL, IN, LA, MI, NJ, NY, TN, VA, WV, WY
- Bonus amount: Up to $1,250 awarded as bonus bet credit
- Rollover requirements: None
- Minimum qualifying wager: $10
Enticing players with first bet refund offers is commonplace among U.S. online sportsbooks but rarely do we see one exceeding $1,000 in value.
Beyond the monetary cap, the promotional terms are standard. New bettors who place their first real-money wager using our Caesars sportsbook promo code will be entitled to a bet credit of equal value, up to $1,250 should that bet lose. The initial wager must be made within 30 days of opening an account. Likewise, any bonus bet received must be used within 30 calendar days or it will expire.
When wagering with bonus bet credits, the initial stake is not returned to player accounts, only the winnings. So, if you place a $1,000 wager at even odds, and it hits, you’ll have $1,000 in your account, not $2,000 as if you were using your own funds.
In addition to all of the above, all new customers receive 1,000 Reward Credits and 1,000 Tier Credits regardless of whether their first bet wins or loses.
Pros of the Caesars Sign-Up Bonus
#1 The monetary cap
To give you some perspective on how aggressive Caesars Sportsbook’s welcome bonus is, consider that the average offer of this type is capped at $500 to $1,000.
In other words, Caesars’ offer is significantly larger than most. Caesars sports betting promotions are truly massive and tailored toward bettors willing to make large deposits and big bets.
That’s not to say low rollers can’t get in on the action, as anyone can qualify with a $10+ first bet.
#2 Lenient timetable
Caesars gives new bettors a healthy 30 days to find a bet they like. This applies to both the initial wager and the bonus bet. That’s much longer than industry standards, which are closer to 7-14 days. However, anyone who receives a refund must use their bet credits within 14 days.
#3 No bet restrictions
Caesars Sportsbook does not list any bet restrictions in its terms, meaning that you can use your initial wager and refund however you like, the only caveat being that you must wager both of them in one shot.
So, whether you’re feeling a straight bet on a favorite at -200, or a 5-leg parlay at +1000, all bets are eligible. Just be aware that if you use the “Cash Out” feature on your initial wager, you will no longer be eligible for a bonus bet credit.
Caesars Sportsbook Sign-Up Bonus Cons
The single biggest con, and this applies to every similar promo, is that if your settled bet turns out to be a winner, Caesars won’t award you anything extra other than Reward Credits and Tier Credits.
The second biggest issue is that refunds are awarded as bonus bet credits. With bonus bets, the book is effectively staking you, and will take that stake back if you win. Only the winnings will remain yours.
Therefore, it is in a bettor’s best interest to use the bonus bet on an attractive underdog, as we want the payout to be larger than the initial stake.
As you may have suspected by now, first bet refund promos encourage bettors to take quite a bit of risk. Irony abounds.
If there weren’t enough to make risk-averse types tremble, both the initial wager and the bonus bet credit must be wagered in one shot. If you deposit $1,000 and place five $200 wagers, you’ll only be eligible for a $200 bonus bet, and that bet credit can only be used on a singular wager. Risky.
How does the Caesars Sportsbook Welcome Offer rank?
In terms of how much money Caesars Sportsbook is willing to put itself on the hook for, no other offer compares. It’s not even close. Yet we question just how many new bettors are going to be in solid enough financial position to take full advantage of the offer.
The other facets of the sign-up bonus aren’t terrific, especially the fact that refunds are awarded as bonus bets instead of site credit.
Site credits allows bettors to break up their wagers how they choose and return the initial stake on winning bets. Most books don’t use them, but the ones that do provide significantly more value to the bettor.
Considering this, we rank Caesars’ sign-up offer slightly above average. It’s certainly worth taking advantage of, just be aware that it’s a riskier proposition than it might initially appear.
Mike Murphy founded BettingBonuses.com to help bettors understand the terms and conditions associated with betting offers, bonuses, and promotions. Mike has worked in the regulated online betting industry since 2008.