Nov 26, 2021; New York, New York, USA; New York Knicks guard Alec Burks (18) dribbles up court against the Phoenix Suns during the first half at Madison Square Garden. Mandatory Credit: Vincent Carchietta-USA TODAY Sports
- Online sports betting will be live in New York in a matter of weeks
- The biggest sportsbooks offer lucrative sign-up bonuses to attract new business
- See the promotional offers that will be available to New Yorkers in the near future
The start of online sports betting in New York is growing nearer and nearer, though there is still no concrete start date.
When online sportsbooks are finally allowed to start taking deposits and accepting wagers, there is going to be a huge push from each sportsbook to sign-up as many customers as they can.
What does that mean for New York sports bettors? It means big sign-up bonuses and welcome packages.
The table below shows which sports-betting apps will be coming to New York in the near future. The subsections under the table describe in detail the biggest sign-up bonuses that will likely be available in the Empire State.
Sports-Betting Apps Coming to New York
Based on what the sportsbooks are currently offering in other states, here is what New Yorkers can expect in terms of sign-up bonuses once sportsbooks in NY are allowed to start doing business in the state.
DraftKings New York Will Offer a $1,050 Welcome Package
DraftKings Sportsbook’s main sign-up bonus is billed as a $1,050 welcome package. The first part of the package is a $50 free bet that is credited to your account instantly.
The second part is a “deposit match”; DraftKings will match 20% of your deposit in cash, up to $1,000. In order to get the full $1,000, customers will need to deposit at least $5,000.
The bonus money is not credited to the customers account straight away. It’s released gradually as the customer wagers. For every $25 bet at the DraftKings sportsbook, daily fantasy site, or casino, the customer will receive $1 of their deposit bonus.
FanDuel New York Will Give New Customers a $1,000 Risk-Free Bet
The biggest FanDuel Sportsbook sign-up bonus is a $1,000 risk-free bet. It’s available to all new FanDuel customers making a first-time deposit. It’s a little more straightforward than the DraftKings gradual-release bonus. Here’s how it works: after signing up at FanDuel and making a deposit, each customer’s first wager at the sportsbook counts as their risk-free bet.
If that bet is graded as a loss, FanDuel will credit the customer’s account with the same amount as the customer lost on that wager, up to $1,000.
This obviously has its pros and cons. In order to get the bonus money, you have to lose the bet. But, if you don’t get the bonus money, it means you’ve started your FanDuel betting career with a win, potentially a huge one.
BetMGM New York Also Has a $1,000 RFB Sign-Up Bonus
The BetMGM sign-up bonus is basically identical to the FanDuel one described above. BetMGM gives each new customer a risk-free bet on their first real-money wager at the sportsbook. If the wager is graded as a loss, BetMGM will credit the customer’s account with bonus money equal to the amount of the wager.
There is one key difference between the two, however. The FanDuel bonus money is paid as “site credit”. This is basically cash that must be wagered at the sportsbook before it can be withdrawn. (In other words, there is a one-time rollover on the bonus money.)
The BetMGM bonus pays out in free bets. Free bets are not equivalent to cash. When a bettor wins a wager made with a free bet, they receive only the profit back. The original stake is not part of the return. This means there is less equity in a free bet than in site credit.
Sascha was a hockey player in his youth, a lawyer in his capricious mid-20s, and has now been an assigning editor, writer, and lead oddsmaker for SBD for over five years. He covers everything you can possibly put odds on, but specializes in football, baseball, hockey, and basketball.