All 8 Kentucky sports betting promotions, ranked by actual cash value

Kentucky Sportsbook	Signup Promotion	Actual Max Cash Value
ESPN BET KY	$1,500 first bet	$675
bet365 Sportsbook KY	$1,000 first bet	$450
Fanatics Sportsbook KY	$1,000 first bet	$450
Caesars Sportsbook KY	$1,000 first bet	$450
BetMGM Sportsbook KY	$1,500 deposit match	$393**
DraftKings Sportsbook KY	$250 bonus bets	$162.50
FanDuel Sportsbook KY	$200 bonus bets	$130
Circa Sports KY	N/A	N/A

*Fanatics Sportsbook Kentucky awards new users with $100 in no sweat bets every day for 10 days, adding up to the same $1,000 bonus other books are giving out (if taken full advantage of)

**Our calculation of BetMGM KY’s deposit match value includes funds you’d lose from hitting the promotion’s wagering requirement, though there are ways to mitigate that some.

1. ESPN BET Kentucky

• Offer type: $1500 first bet
• Value if maximized: $675
• Required investment to maximize: High

When using a first bet reset promotion like ESPN BET Kentucky’s offer, there are two strategies that can maximize your potential value:

1. Placing your initial wager on a plus-money outcome to increase the expected value.
2. Using another sportsbook to hedge your bet, guaranteeing a profit regardless of the outcome.

These approaches typically yield about 40-50% of the advertised bonus value in actual profit. With ESPN BET’s $1,500 offer, this translates to the highest potential value currently available in Kentucky.

However, it’s important to note that realizing this full value requires a significant upfront investment. You’ll need to deposit $1,500, plus additional funds if you choose to hedge. If you’re not comfortable with this level of initial commitment, the actual value of the offer for you may be considerably less.

2. bet365 Sportsbook Kentucky

• Offer type $1,000 first bet safety net with code BARKER
• Value if maximized: $450
• Required investment to maximize: High

bet365 KY is currently offering two promotional offers to new users in Kentucky. The first option is a $1,000 first bet safety net, which functions similarly to ESPN BET’s offer but with a lower maximum amount. If you fully utilize this $1,000 offer, you can expect to receive about 45% of that amount back in cash on average.

The second option is a guaranteed $150 in bonus bets when you place a $5 wager. This offer provides lower potential value but requires a much smaller initial investment.

3. Fanatics Sportsbook Kentucky

• Offer type: $1,000 first bet
• Value if maximized: $450
• Required investment to maximize: Medium

Fanatics Sportsbook KY offers a unique welcome promotion worth up to $1,000 in no sweat bets, which is structured a bit differently from other offers. Instead of a single large bet, new users receive a daily $100 no sweat bet for ten consecutive days after signup.

This approach provides similar overall value to other $1,000 first bet offers but with a more gradual investment strategy. You don’t need to risk $1,000 upfront to maximize the bonus. Instead, you can spread your betting activity over a week and a half, potentially reducing your initial financial commitment.

To qualify for this offer, simply place a daily wager of at least $1 with odds of -500 or longer. If your bet loses, you’ll receive a bonus bet up to $100. This process repeats for ten days, allowing you to accumulate up to $1,000 in bonus bets and potentially $450 in cash value.

4. Caesars Sportsbook Kentucky

• Offer type: $1,000 first bet with code YARDBET1000
• Value if maximized: $450
• Required investment to maximize: High

Caesars Sportsbook KY offers a $1,000 first bet promotion similar to some of the offers mentioned above, with an estimated maximum value of around $450. However, Caesars’ offer comes with a unique feature: if your initial wager loses, you receive a single bonus bet equal to your lost stake, up to $1,000. This structure affects the optimal strategy for claiming the bonus.

Since you only get one bonus bet if you lose, it may be more advantageous to convert it through hedging. This approach involves placing a bet on the opposite outcome at another sportsbook, which can secure about 60-70% of the bonus bet’s cash value.

This strategy differs from the typical approach of wagering bonus bets on plus-money outcomes. At Caesars KY, you’ll only have one opportunity to use your bonus bet, as you’ll only receive one if your initial wager loses. Therefore, hedging to lock in a guaranteed return may be the most prudent choice for many bettors.

5. BetMGM Sportsbook Kentucky

• Offer type: $1600 deposit match with code YB1600
• Value if maximized: $393
• Required investment to maximize: Very High

Calculating the true value of deposit matches can be complex due to two main factors: the actual value of the bonus received and the expected losses while meeting any wagering requirements (also known as rollover or play-through requirements).Here’s a breakdown of the process:

1. Estimate the real value of the bonus: Apply a 60-70% conversion rate to the bonus amount. For example, $1,500 in bonus bets would be worth approximately $975 in cash value.
2. Calculate expected losses during rollover: Consider the rollover requirement and timeframe. For instance, with a 10x rollover on a $1,500 bonus:
   • Total wagering required: $15,000
   • Timeframe: 30 days
   • Strategy: 150 bets of $100 each
   • Assuming a 50/50 win-loss ratio at -110 odds, you’d expect to lose about $582
3. Determine the net value: Subtract the expected losses from the estimated bonus value. In this case:
   $975 (estimated bonus value) – $582 (expected losses) = $393 net value.

This approach provides a more realistic assessment of what you might actually gain from a deposit match promotion, accounting for both the bonus value and the cost of meeting wagering requirements.

By strategically hedging bets across different sportsbooks with closely matched odds, you can dramatically reduce rollover losses. Instead of losing $9 per bet at -110, you might lose only $1-2 per pair of bets. This approach can potentially increase the net value of a deposit match bonus from around $300 to $700-$800, making the promotion significantly more profitable with careful execution.

6. DraftKings Sportsbook Kentucky

• Offer type: Bet/get
• Value if maximized: $162.50
• Required investment to maximize: Low

When using bonus bets optimally, you can generally expect to convert about 60-70% of their value into cash, regardless of how you obtain them.

For this particular offer, you’ll receive $50 in bonus bets on deposit. Additionally, if you place your first bet of $5 or more (which has no odds requirement, so you should choose the heaviest favorite available), you’ll get another $200 in bonus bets.

If DraftKings provides these as ten $25 bonus bets, the recommended strategy is to place them on bets with odds around +600. With this approach, you only need to win one out of the eight bets to make a $150 profit, even if the other seven lose. While we estimate an average value of $162.50 based on the 60-70% conversion rate, your actual results may vary. Some users might gain more, while others might gain less, depending on the outcomes of their bets.

7. FanDuel Sportsbook Kentucky

• Offer type: Bet $5, get $200 bonus bets
• Value if maximized: $130
• Required investment to maximize: Low

FanDuel Sportsbook Kentucky is currently offering $200 in bonus bets to all first-time signups. To claim this offer, new users need to sign up, deposit at least $5, and place a qualifying wager of $5 or more.

Regardless of the bet’s outcome, you’ll receive $200 in bonus bets. The potential value of this promotion, if maximized, is estimated to be around $130, based on the typical 60-70% conversion rate for bonus bets.

8. Circa Sports Kentucky

• Offer type: N/A
• Value if maximized: N/A
• Required investment to maximize: N/A

Unfortunately, Circa Sports Kentucky does not offer any signup promotions to new users.

Which Kentucky Betting Offers Should I Claim?

Simply put, there are two primary strategies for approaching sportsbook signup promotions:

1. Maximizing Cash Value: For those aiming to extract the most cash value, focus on the “first bet on the house” offers. These typically require larger initial deposits but can yield large returns if utilized correctly. This approach is best for those comfortable with larger upfront investments and willing to employ more complex betting strategies.
2. Low-Risk Bonus Bets: If you’re looking for a low-stakes entry into the online sports betting world or prefer to start with a smaller bankroll, opt for the “bet and get” offers from platforms like FanDuel and DraftKings. These promotions usually require minimal initial investment (often around $5) and provide bonus bets regardless of your first bet’s outcome.

The choice between these strategies depends on your risk tolerance, available bankroll, and general betting experience. The first option offers higher potential returns but requires more investment and strategy, while the second provides an easier, lower-risk introduction into sports betting.