For those holdouts who have yet to sign up with a mobile sportsbook in New Jersey more than four years after sports betting became legal, about the best time to dip your toes in the water is the start of the football season.
At DraftKings, new users in New Jersey and 14 other states can bet $5 on an NFL or NCAA football game (or a UFC event) by this weekend, and get $200 in free bets. The bonus is paid out in eight $25 bets and must be made within one week of sign-up — a good example of needing to read the fine print to make sure you can make maximum use of the offer.
At FanDuel, the offer is similar, but the $5 opening wager brings you a mere $150 in free bets.
Betting rivals have bigger offers
In New Jersey, BetMGM‘s offer, good for all of 2022, is for up to a $1,000 “risk-free” bet once new users deposit $10 into an account.
The fine print: “If your Qualifying Bet loses and it is in an amount greater than $50, you will receive five FreeBets back in equal denominations of 20% of the total amount of the Qualifying Bet up to $1,000. If your Qualifying Bet loses and it is less than $50, you will receive a single FreeBet back in a single denomination equaling the total amount of the Qualifying Bet.
- Example 1: If you place a $1,000 Qualifying Bet and your Qualifying Bet loses, you will receive five $200 FreeBets.
- Example 2: If you place a $49 Qualifying Bet and your Qualifying Bet loses, you will receive one $49 FreeBet.”
Barstool has basically the same offer, except it contributes a nominal $10 to a new user’s account for signing up, while the SuperBook also has the $1,000 matching incentive.
Then there is Caesars, where Garden State residents not only can get a free bet of up to $1,250 — with a full credit back if they lose — but also 1,000 Reward Credits and 1,000 Tier Credits (win or lose). Customers have up to 14 days, in this case, to use their $1,250 in free consolation bets.
At Bet365, a new customer only needs to make a $1 bet to claim the sign-up offer — but it is only for $200 in free bets. However, customers have 90 days to use the free bets here.
A middle ground can be found at Australian-based PointsBet, which offers five risk-free bets of up to $100 each. At WynnBet, meanwhile, new customers in nine states — including New Jersey — can get a $100 free bet upon making a $100 bet.
The BetRivers version is an offer to match a first-time bet of up to $500.
Betting exchange now an NJ option
What is a betting exchange? It is a place that removes the usual “player vs. the house” dynamic and instead allows gamblers to offer bets at their own prices, in hopes that someone will choose the other side of the bet. Because Prophet does not set the odds, the “vig” — or the amount held by the sportsbook — will tend to be lower than traditional books.
Prophet’s promotional offer is to match your sign-up money up to $200.
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