Kansas Sports Betting Promo Codes: Are Sportsbooks Changing Bonus Philosophies?

Legalized sports betting launched in Kansas on Thursday, and sports betting operators are offering a wide array of welcome bonuses to celebrate.

New users of PointsBet Sportsbook in Kansas can claim up to five risk-free bets up to $100 each for a total of $500. The five-bet instalment is a different format than PointsBet – or most other sportsbooks, for that matter – has offered in the past. 

Typically, we see a risk-free bet offer between $500 and $1,000+ or a deposit match within the same range. 

Caesars Sportsbook still offers a first bet insurance promotion of up to $1,250; if your initial wager loses, you will be issued a free bet matching the initial wager amount. 

As for two of the industry's other big names, Kansans might like what they see at first glance.

FanDuel is an industry titan offering a "Bet $5, Get $150" promotion. DraftKings, another industry leader, is running a "Bet $5, Get $200" promo, along with a 20% deposit match up to $1,000 (meaning you'll need to deposit a whopping $5,000 to see the full amount).

Though these offerings seem lucrative, there appears to be a shift in welcome bonus philosophy throughout the industry. 

While it may have to do with Kansas' small population (roughly three million people), we have seen these companies be much more aggressive in the past with their bonuses. 

Take Caesars, for instance; when the company entered New York in early January, it was awarding new users upwards of $300 in free bets. 

FanDuel and DraftKings offered a multitude of promotions that essentially gave money away to new users. 

However, prospective new customers have seen sportsbooks scale back on these offerings in recent months, likely due to most companies facing plenty of red ink and increasing pressure from eager shareholders. 

Caesars Chief Executive Officer Tom Reeg told investors in February, "You are going to see us dramatically curtail our traditional media spend effectively immediately" in efforts to get into the black. 

A recent article by Covers echoes the sentiment that intense promotional strategies are coming to a halt due to either to tax reasons, or to companies being satisfied with their brand awareness. 

Many look at sports betting as a hobby or an enhanced form of entertainment when cheering on their favorite team. But at its core, the sports betting industry is a significant business, and operators need to make money to sustain their business models and keep shareholders happy. 

One way to do so is to stop being so charitable – and we're seeing this in Kansas, as operators don't seem threatened by what one another is offering. 

Though the expansion of the industry continues, it seems that sportsbooks' competitiveness to match or outdo one another in the promotional category is waning. And that's less than ideal for new players looking to secure a strong welcome bonus.