Indiana Sportsbook Promos and Bonuses: Best Offers for April 2024

Indiana sports betting promos quick facts

All Indiana sportsbook promo codes

The best Indiana sports betting apps all know that the best is yet to come, and new players are the key to success. So, they’ve made it easy to earn various sign-up welcome bonus offers with and without promo codes.

Only BetMGM, BetRivers, bet365, and Caesars require promo codes to be entered during the first deposit. Most of the 12 sports betting apps available in the Hoosier State each offer welcome bonuses that fall into three categories -- first bet insurance, deposit match bonus, and bonus betting credits.

Some of the best welcome promos are:

• FanDuel: Bet $5, get $150 in bonus bets
• $1,000 first bet on Caesars
• ESPN BET: Up to $600 in bonuses

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FanDuel IN welcome offer 🔵

As an industry leader, FanDuel could rest on its laurels and allow its reputation to speak for itself. Still, the operator is offering new players in Indiana a bet $5, get $150 in bonus bets reward. No FanDuel promo code is required to redeem this sign-up offer.

• You must download the FanDuel app to claim the offer.
• Minimum first deposit of $10 is required.
• Place a qualifying wager of $5 on any available market.
• Win or lose, you'll get $150 in bonus bets.
• You will have seven days to use the bonus bets.

What’s the promo mean for you?

This promo allows you to potentially start off your sports betting journey with a handful of bonus bets. Just make a first bet of $5 or more and FanDuel will credit your account with $150 of bonus bets, win or lose. You can use those bonus bets to make additional wagers, although they expire within seven days. 

How much money can be earned with the promo?

The immediate maximum value of this promotion is $150. However, it could end up being worth more if you can use the bonus bets to pick winners, expanding your potential profit. 

Why this bonus is better than others

While many sportsbooks with first-bet insurance or 'bet & get' offers force you to use your bonus all at once, FanDuel permits you to split its reward into multiple smaller wagers, providing you with top-tier flexibility.

DraftKings IN welcome offer 👑

DraftKings Indiana, one of the top-tier operators in the country, is targeting new players with its latest welcome bonus. First-timers can earn $200 in bonus bets instantly. No DraftKings promo code is required at sign-up.

• You must make an initial deposit of $5 or more.
• Your $5 qualifying wager can be on any sport.
• $200 in bonus bets will arrive instantly.
• The $200 is delivered in eight (8) $25 increments.
• You can’t withdraw bonus funds as real cash.
• Bonus bets will expire after seven days if unused.

What does the promo mean for you?

This promo means you will receive $200 in bonus bets instantly after your initial wager of $5 or more. It's one of the best welcome offers available, considering what you get in exchange for a relatively minor risk.

How much money can be earned with the promo?

All eight (8) bonus bets valued at $25 each can be used to make additional wagers and potentially build your bankroll. You will not be allowed to withdraw the $200 in bonus bet funds directly, but the profits you make from winning with them are yours to keep.

Why this bonus is better than others

DraftKings doesn’t force new bettors use all $200 in bonus bet funds on a single wager. Rather, players will get up to six chances to earn money and build their bankroll. You also don't need to lose your first bet to receive this bonus, making it more attractive than other 'bet & win" or first-bet insurance offers.

BetMGM IN welcome offer 🦁

The “King of Parlays” hopes to become Indiana’s go-to sports betting app with an aggressive welcome bonus. New players can earn up to $1,500 in bonus bet insurance. Ensure you use BetMGM promo code SBRBONUS during registration.

• Minimum deposit of $10 is required.
• First bet must lose for BetMGM to pay out insurance funds.
• First bet losing wagers of $50 or more will be paid out in 20% increments.
• For example, a $1,500 first bet loss would earn five (5) $300 bonus bets.
• These must be used within seven days of receiving them.
• Bonus funds cannot be withdrawn as cash.

What’s the promo mean for you?

It means you either win your first bet and don't receive the welcome bonus at all, or you lose and get the value of that bet credited back to your account as a bonus bet (up to $1,500). It's sort of like a safety net, as it gives you a second chance to make a winning bet.

How much money can be earned with the promo?

If your first bet wins, you will earn no additional money via BetMGM’s welcome bonus.

If your first bet loses, you can potentially earn a great deal of money on bonus bet profits. For example, let’s say you take a $200 bonus bet credit and wager on an event at 2-to-1 (+200) odds, and it wins, and you get to keep the $400 profit. So, the more you win, the more you can make via bonus bet insurance wagers.

Why this bonus is better than others

BetMGM does not require bonus bet monies to be risked on a single wager and allows new players to spread bonus funds over five bets in most instances. So, if you received the maximum $1,500 worth of bonus bets, you would get them in five $300 pieces. It gives you a lot of flexibility to try out different betting markets as a new BetMGM customer. 

BetRivers IN welcome offer ⚡

The BetRivers welcome offer is among the sweetest in the Indiana sportsbook market. The pride of Rush Street Interactive, BetRivers, is offering new players a second chance bet of up to $500. The BetRivers bonus code SBRBONUS is required at the time of registration.

• Make an initial bet of up to $500 with odds of -200 or longer.
• If you lose, bonus funds will appear within 24 hours.
• Don’t forget the promo code SBRBONUS before making the deposit.

What’s the promo mean for you?

You are insured with your first bet at BetRivers. If you win, you can keep the profits of your initial bet. If you lose, you can continue to make additional wagers with the bonus bets and try try to build up your bankroll without making additional deposits. 

How much money can be earned with the promo?

Like other second-chance bets, you will earn nothing from this promo if your first bet wins. If it loses, you can use them to continue to bet, albeit with rollover requirements. That means you can't withdraw the bonus bets as cash, but must use them for additional wagers.

Why this bonus is better than others

The BetRivers welcome bonus has a higher dollar value than DraftKings or FanDuel, but lower than BetMGM or Caesars. You also have to lose your first bet in order for this offer to kick in. However, a $500 second-chance bet is still a potentially lucrative offer, especially if you're actively pursuing multiple bonuses from multiple sportsbooks.

Caesars IN welcome offer 🏛

Caesars isn’t messing around regarding marketing towards prospective Indiana sports bettors. The name brand is global, offering new players a $1,000 first bet on Caesars. New users must enter the Caesars Sportsbook promo code SBRBONUS1000 to snag the offer.

• Minimum deposit of $10 is required.
• Your first bet must lose in order to qualify.
• If your bet loses, you'll get your stake back, up to $1,000, as a single bonus bet.
• The bonus bet expires within 14 days, so use it promptly.

What’s the promo mean for you?

Caesars gives you the chance to jump-start your bankroll with up to a $1,000 bonus bet. Just register a new account using the promo code SBRBONUS1000 and make a first bet on any sports market. Should you lose, Caesars will return your money, up to $1,000, as a bonus bet.

How much money can be earned with the promo?

The amount you can earn entirely depends on how your picks pan out. If you win the wagers you make with bonus bets, you can potentially profit hundreds or thousands of dollars. If your picks end up as losers, though, you'll burn through the bonus bets fairly quickly and be left with little.

Why this bonus is better than others

Caesars offers one of the largest amounts of bonus bets, more than competitors like FanDuel and DraftKings. You do have to risk up to $1,000 in order to maximize its value, but it's still a lucrative welcome bonus with great potential to pad your profits.

How we rate and review sports betting promotions

Our editorial team spends an incredible amount of time independently reviewing every Indiana online sportsbook and sports betting app for quality, safety, and user experience. Our team of experts applies the same stringent grading process when rating Indiana sports betting promotions. The last thing new players want after signing up for a new account is surprises regarding assumed welcome bonus monies.

So, here are some of the factors we consider when rating IN sports betting offers:

• The maximum overall value of the welcome bonus.
• If the sign-up offer is guaranteed or not.
• Verifying the promo code, if required.
• What are the minimum deposit requirements, if any.
• Examining playthrough requirements and withdrawal policies.
• The potential expiration date of the welcome bonus.

Not all bonuses are created equal. Some are easier to obtain than others, depending on the betting requirements or playthrough terms. You should always read the terms and conditions of any welcome bonus you're trying to collect to ensure you know exactly how to be successful in claiming it. 

Types of Indiana betting sign-up offers and bonuses

Indiana sports betting sites and apps offer a variety of sign-up bonuses and promotions. Still, these days, the most common offers fall into three categories: a deposit match bonus, bonus bet credits, and first bet insurance.

1. Deposit match bonus

Operators that offer deposit match bonuses are beloved by the sports betting community because the promotion isn’t contingent on any future wager.

For example, a 100% deposit match up to $250 would convert a $250 first-time deposit into $500 in a player’s account. A 50% deposit matchup up to $1000 would mean a $500 deposit unlocks a welcome bonus of $250 for a total of $750 in available funds.

2. Bonus bet credits

Sign-up offers that market bonus credits are outstanding for new players. Here you’ll be asked to make a small minimum deposit of as little as $5-$10 and wager on any event. Once the initial bet settles, operators will issue bonus credits up to a certain dollar amount.

For example, many sportsbooks offer $150 in bonus bets in exchange for a first bet of $5 or more. Some books may force you to use all $150 at once, but most of them split the bonus up into smaller chunks, like six $25 slices. Bonus bets cannot be cashed out, only used to make additional wagers. 

3. First bet insurance

The first bet insurance welcome promotion is found at most Indiana sports betting sites. Operators tend to offer a higher dollar amount on these offers because you can only redeem them if a new player’s first bet settles as a loss, and you will not receive the bonus if the first bet wins.

First bet insurance bonuses often come with a strict set of terms, conditions, and playthrough requirements. For example, you can't withdraw them as cash, you may not be able to split the amount up into smaller wagers, and the bonus bets might expire quickly.

4. Referral bonus

Once you've become a customer and taken advantage of a welcome bonus, most sportsbooks will offer you additional perks if you can recruit your friends to sign up. You'll sometimes be given a unique code or customized link to pass along. If your friends sign up using your referral, the sportsbook will toss a small bonus bet or cashback amount your way. In some cases, your friend may also get a small bonus for using your referral code, making it a win-win situation for everyone. 

These bonuses are often smaller amounts; $10 to $100, on average. However, you might as well take advantage if the opportunity presents itself. Read our guide on the subject to find out which platform offers the best sportsbook referral bonus.

Indiana online sportsbooks

Indiana Governor Eric Holcomb signed House Bill 1015 into law in May of 2019, a year after the United State Supreme Court overturned the Professional and Amateur Sports Protection Act, which allowed individual states to legislate sports betting matters. A few months later, just a few legal sports betting sites launched, like BetRivers and DraftKings. Indiana would issue licenses for 15 online sportsbooks and sports betting apps in the following months and years. 

However, in 2022, two operators — TwinSpires and MaximBet — left the marketplace. WynnBET also left in 2023. With 12 operators still offering welcome bonuses to new players, Indiana is about to get their 13th mobile sportsbook here shortly as the state recently granted Betr a license.

Indiana online and mobile sportsbooks

Indiana sports betting legal news updates

Indiana betting resources

Indiana sportsbook promos are just one piece of the puzzle. For new players to become well-informed, they should check out our other Indiana sports betting resource guides. These include a full review of the best Indiana betting apps, a more extensive overview of all the best sportsbook promos, and an in-depth review of Indiana’s best online sportsbook, FanDuel.  

Sportsbook by category

Check out our resources on the best sportsbook for specific sports and leagues:

Responsible sports betting with Indiana promos

The Indiana Gaming Commission is the state’s governing body overseeing legal sports betting oversight, regulation, and law enforcement. In addition to reviewing operator applications, issuing licenses, and performing site and app audits, the IGC is responsible for problem gambling education, resources, and treatment options.

When you visit the commission’s website, you’ll notice a vast library of problem gambling resources, including the hotline 1-800-994-8448. With thousands of dollars in welcome bonuses, sign-up offers, and ongoing promotions, those addicted to sports gambling may need assistance maintaining a healthy relationship with the hobby. The IGC also offers the following:

• Voluntary self-exclusion programs
• Internet self-restriction program
• Self-assessment tests
• Treatment center providers
• Gamblers Anonymous meetings in Indian

National U.S. gambling helpline: 1-800-GAMBLER

Sportsbook promos and bonuses in other regions

Sportsbook promos & bonuses in legal U.S. states

Every state makes its own laws about gambling of any kind, including betting on sports and whether it's available online. For a more detailed explanation, check out SBR's legal sports betting states tracker or any of the state-specific pages below. 

Sportsbook promos & bonuses in international regions

• Canada sportsbook promos (excluding Ontario)
• U.K. sportsbook promos