Illinois Sports Betting Promos & Bonuses: Best Offers for 2023

All Illinois sportsbook promo codes

Caesars Sportsbook boasts the sign-up bonus with the highest potential value at up to $1,250. Caesars Illinois requires you to lose your first wager to qualify for the bonus. At the same time, DraftKings and BetRivers are the only two operators offering guaranteed deposit match bonus funds at the time of the first deposit.

SBR tip: Only Caesars (SBRFULL) and BetRivers (SPORTS) require promo codes when submitting your first deposit.

FanDuel IL welcome offer

New FanDuel Illinois customers can claim a sign-up off of a No Sweat First Bet up to $1,000 without needing a FanDuel promo code. Illinois-based bettors can create an account, make an initial deposit of at least $10, and if your bet loses you'll get your initial stake back in bonus bets. Here are pertinent details:

• Register on any device, but you'll have to download the FanDuel app to claim the bonus. 
• A minimum $10 bet is required.
• Welcome bonus kicks in with a first-bet loss only.
• Bonus bets must be used within 14 days of receipt.

FanDuel IL pros and cons

What does this promo mean for you?

FanDuel is insuring your very first bet with them. Say your Chicago Blackhawks pick is wrong, FanDuel will stake your account with funds up to $1,000 in the form of bonus bets depending on how large your wager was.

How much money can I earn with the promo?

If your first wager wins, you will receive your winnings, and you can do with it what you wish. If it loses you'll get bonus bets deposited into your account and will have to fulfill rollover requirements.

Why this bonus is better than others

FanDuel is ensuring bettors can receive cash on bonus bets with their first bet at their sportsbook.

DraftKings IL welcome offer

One of the industry leaders in daily fantasy sports and sports betting, DraftKings Illinois' latest welcome offer allows new players to earn $200 in bonus bets simply by placing a first bet at a minimum of $5. No DraftKings promo code is required at the time of redemption. Take a look at the key information:

• Make a minimum $5 deposit
• Initial wager of $5 or more 
• Receive $200 in bonus best once it settles
• Bonus paid out in eight (8) denominations of $25 bonus bets
• Can’t be redeemed for cash

DraftKings IL pros and cons

What does this promo mean for you?

This promo is great for new players because, for just $5, your bankroll grows by $200 in bonus bets. Those eight (8) $25 bonus bets can be used on moneylines, point spreads, point totals, same-game parlays, and other live in-game betting markets to allow you to try and learn each bet type. Before wagering, check out the terms and conditions because some odds playthrough requirements may apply. 

How much money can I earn with the promo?

You can earn $200 in bonus bets simply by wagering $5 on your first bet. Win or lose, and you get to keep the $200 in bonus bets. That money can’t be withdrawn, however. To earn money that can be paid out, continue to place bets that win. If one of your $25 bonus bets is wagered on an event paying 4-to-1 odds, and it hits, you keep $100 in profit. If you lose the $25, DraftKings eats the loss, not your bankroll. 

Why this bonus is better than others

It’s a low cost of entry at only a $5 minimum deposit and first wager. It helps novice and first-time players find their footing without shelling out thousands of dollars to earn bonus bets right off the jump.

BetMGM IL welcome offer

The sportsbook and self-appointed "King of Parlays" offer new players in Illinois up to $1,000 paid back in bonus bets. There is no BetMGM promo code required to redeem this welcome bonus.

• $10 minimum deposit is required.
• The bonus only pays if you lose your first bet.
• If you wager more than $50 and lose, BetMGM will pay out in 20% bonus bets increments of the total amount lost. So, a $1,000 first bet loss would pay out in five (5) $200 bonus bets.
• If you bet less than $50 and lose, BetMGM will pay out one bonus bet credit.
• Bonus bets must be used within seven days of account credit.

BetMGM IL pros and cons

What does this promo mean for you?

It means new players can make a bet up to $1,000 and earn five individual $200 bonus bets should they lose. You don’t have to risk up to $1,000 and can wager as little as $10 on your first bet. Remember, the first bet needs to lose to unlock the bonus bets. If your first bet wins, no bonus bets will be paid out.

How much money can I earn with the promo?

This promo can earn no money if you win your first bet. If you lose your initial wager, the earnings potential of this promo is unlimited so long as you continue to pick winners.

Why this bonus is better than others

Compared to Caesars, the bonus bets awarded over $50 come in increments, allowing new players to spread their future wagers around rather than risk it all on one bet.

BetRivers IL welcome offer 

BetRivers recently updated its new-player welcome offer: Claim up to a $ 500-second chance bet with promo code SPORTS. Should your first bet lose, BetRivers will insure it up to $500.

• Minimum deposit of $10 is required.
• The first bet must lose for the welcome offer to kick in.
• The bonus bet value of up to $500 will be credited to your account within 24 hours.
• There are odds limits when wagering with bonus bet credits -200 or longer.

BetRivers IL pros and cons

 What does the promo mean for you?

The BetRivers welcome offer promo means new players can wager up to $500 with a built-in safety net. BetRivers will credit your account within 24 hours if your first bet loses, with whatever you lose up to $500. If your first bet wins, the promo bonus offer does not pay anything then or later.

How much money can I earn with the promo?

If your first wager wins, the earnings potential of the promo is zero dollars. If your first wager loses, new players can take the bonus bet credit, and if they continue to win, earnings potential is limitless. 

Why this bonus is better than others

If we’re being honest, BetRivers' previous welcome offer of a deposit match bonus up to $250 was better because bonus monies were guaranteed. However, a second-chance bet up to $500 is still pretty strong.

Caesars Sportsbook IL welcome offer

A Las Vegas casino and sports betting industry veteran has taken its talents online to Illinois. New customers can earn a first cash bet on Caesars of up To $1,250, including 1,000 Reward Credits® and 1,000 Tier Credits. You will need to use promo code SBRFULL to redeem the promo at the time of the initial required deposit.

• A minimum first deposit and wager of $10 are required.
• The first bet must lose to qualify for the welcome offer. 
• Bonus credit(s) will be available within seven days after the first bet settles.
• The bonus expires 14 days after receipt.
• Bonus credit must be used on single bet.
• Caesars Rewards can be used on various bets and exclusive operator experiences in Las Vegas and elsewhere. They may not be redeemed for cash.

Caesars IL pros and cons

What does the promo mean for you?

For Illinois' new players, Caesars has allowed you to be slightly more selfish with your first wager. Caesars IL will provide up to $1,250 in bet credit should your first bet lose. Let's say that you wager $500 on the Chicago Bulls to win, and they get blown out, then Caesars will gift you $500 in bet credit to your account bankroll. Plus, they will load your account with 1,000 Reward Credits® and 1,000 Tier Credits, which can unlock even more promotions and bonuses.  

How much money can I earn with the promo?

If your first bet at Caesars sportsbook wins, no money can be earned with this welcome promotion. If your first bet loses, Caesars will reload your account with whatever you lost, and you must wager that entire amount on a future bet within 14 days. The more wagers you win with those bonus funds equal, the more you can earn with this bonus offer. Consistency is vital, and it would be wise to find short odds with your bonus bet and build the bankroll from there.

Why this bonus is better than others

No other sports betting operator provides thousands of loyalty rewards in addition to bonus credit in the form of a deposit match, second chance bets or bonus bets welcome promo.

How we rate & review sports betting promotions

We strive to thoroughly provide our readers with an in-depth and independent critique of all seven Illinois online sportsbooks and sports betting apps. Our team of experts also applies the same quality standards when we rate and review sports betting promotions and bonuses. We consider several factors like these:

• The earnings potential of each bonus.
• If the sports betting promo is guaranteed simply by signing up or by making a first deposit.
• If the sports betting bonus monies need you to lose a first bet (or bets) to unlock value.
• If a promo code is required to redeem the promo (extra step, user experience).
• Is there a minimum deposit amount required?
• How long are the bonus funds good for, or do they carry an expiry date?
• If any playthrough requirements must be met before any withdrawal or payout.

Types of Illinois betting sign-up offers & bonuses

New players in Illinois have several options regarding sign-up offers and bonuses operators are using to entice and attract customers. Still, the three most common sportsbook promos are deposit match bonuses, bonus bets, and second chance bets.

Deposit match bonus

The popular deposit match bonus is becoming harder to find at legal Illinois online sportsbooks because the up-front cost for the operator is steep. A deposit match bonus equates to guaranteed funds for new players based on the amount of their first deposit. So, your classic 100% deposit match bonus up to $1,000 would take a $1,000 deposit and double that player’s bankroll to $2,000, costing the operator $1,000 to convert a new player. A 50% deposit match up to $500 on a $500 initial deposit would kick in $250 for a bankroll of $750 to start for a new player. Deposit match bonuses are not impacted if your first bet wins, loses, or draws; the bonus funds are credited to your account simply by making a deposit. 

Free bet bonus

In recent months, operators like DraftKings have leaned on promoting bonus bets to their new players. This has required you to sign-up, make a first deposit with as little as $5, and place a wager of as little as $5 to earn hundreds of dollars in bet bonuses. It doesn’t matter if your first bet wins or loses; the bonus bet's only requirement is tied to a placed wager. From there, terms and conditions vary. Some operators allow the bonus bets to be spread out over several wagers, while some ask you to wager the total amount on a single bet. Also, most bonus bet promos have a quick expiration date of 7 to fourteen days after acquisition. 

First bet offer

Sign-up bonuses labeled first bet offers are attractive because their peak value is higher than most modest welcome bonuses. However, the only reason operators have to pay out first bet bonuses is if, and only if, your first bet settles as a loss. If you win, you’re happy you won, and the operator is glad they don’t have to shell out account credits. For example, Caesars' first bet offer is valued at up to $1,250. So, if you wager $1,250 on the Chicago Cubs to win their next game and they lose, Caesars will credit your account the entire $1,250. The catch: Caesars also requires you to wager that entire bet credit in a single wager next time and within a certain number of days before expiration.

Illinois online sportsbooks

Most casual bettors living outside of Illinois may need to learn that when sports betting became legal in June 2019, the bill stated that out-of-state operators must wait 18 months before entering the market. This allowed Chicago-based BetRivers to launch the first online sportsbook in Illinois before the likes of DraftKings and FanDuel entered the fray. Today, there are seven online sportsbook operators with sports betting apps for download on iOS and Android devices. While each is worthy of consideration, we're calling out their unique calling cards and top features.

Illinois online & mobile sportsbooks

Illinois betting resources

With FanDuel offering new players up to $1,000 in welcome bonus funds and Caesars Sportsbook kicking in up to four figures plus rewards points, it’s easy for Illinois sports betting enthusiasts to get tunnel vision when it comes to sign-up promos. However, the goal should be the best-informed sports bettor, not the person who falls in love without doing homework.

We spend time building complementary resource guides to the best sportsbooks promos in Illinois, a more in-depth look at how sports betting bonuses work, and highlighting the best sportsbooks.

Responsible sports betting with Illinois promos

The Illinois Gaming Board regulates all forms of gaming in the state. In addition to ensuring the integrity and safety of those who engage in sports betting, the IGB also offers services for those seeking help for problem gambling.

Proceeds and a portion of the tax revenue collected from operators and sports bettors go towards these programs to educate, prevent and treat gambling addiction. Some of the resources available include:

• Self-exclusion programs that is a voluntary option for those who want to limit their exposure to casinos and sportsbooks, both retail and online.
• Problem Gambling registry, which is also voluntary, provides regular emails and courses on recognizing, treating, and preventing gambling problems before they get out of control.
• The Illinois Department of Human Services launched a website

With online sportsbooks offering so many glitzy promotions to new players, it’s easy to get caught up in the moment. However, practicing safe sports betting and protecting your bankroll is of the utmost importance to avoid the pitfalls of gambling addiction.