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Caesars Sportsbook promo code YNEWS1000 unlocks $1K insurance for any game

By Ian Firstenberg | Last updated May 15, 2024 3:24 PM ET

Caesars Sportsbook, one of the staples of American sports betting sites, currently has a generous $1,000 bet insurance offer for players in 21 states.

You can sign up using the Caesars Sportsbook promo code YNEWS1000 and claim the $1K first bet insurance offer.

If you've bet with other books, you're probably familliar with this kind of offer structure, if not it's straightforward. You'll get the value of your first cash wager of the day back as bonus bets if your first bet loses.

Say you put down $120 in cash on the Mavericks moneyline and they lose to the Thunder. You'd get $120 back as bonus bets.

Bonus bets don't function like cash, they can only be bet once and they're not included in any winnings, but you can wager with them nonetheless.

Unlike some other operators, you'll get one lump sum bonus bet with Caesars Sportsbook.

Currently, this offer is available in Arizona, Colorado, Iowa, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maine, Maryland, Michigan, North Carolina, New Jersey, New York, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia and Wyoming.

You can get started at Caesars Sportsbook with the hyperlinked promo code above or the module below.

How to sign up with Caesars Sportsbook

Before claiming this welcome promotion, review the list below to ensure you're eligible:

Must be 21 or older
Must be new customer, any previous sign up will disqualify you
Cash deposit is required to register your account
Initial cash wager must be $10 or more
Bonus bets earned paid out as one lump sum
Bonus bets are valid for 14 days from distribution

Sign up process

Use either the hyperlinked promo code or the module above to access Caesars Sportsbook
When asked, input YNEWS1000
Review and approve the T&Cs
Make cash deposit
Place first wager, must be $10 or more
Collect your bonus bets if you lose

Wagering with Caesars Sportsbook

Bet insurance offers of this kind are well-suited for players looking to take a chance on an underdog. If you hit, you'll hit big and if you lose, you'll forfeit the cash, but you'll get the value as bonus bets.

Say, for example, that you put down $220 in cash on the Avalanche to stave off elimination (+123) against the Stars. A win would garner you $270.60 in profit, plus you'd keep the $220 cash stake.

You wouldn't collect any bonus bets because you won your wager. That said, if the Avalanche are eliminated, you'll get the value of your cash stake back as bonus bets.

While victory would be nice, some bonus bets aren't a terrible consolation prize for a potential Avalanche fan.

21+ only. New users and first $10+ wager only. Offer valid and must be physically present in AZ, CO, IA, IL, IN, KS, KY, LA, MA, MD, ME, MI, NC, NJ, NY, OH, PA, TN, VA, WV, and WY only. Know When To Stop Before You Start.® Gambling Problem? IL, MD, NJ, OH, PA, TN, VA, WV: Call 1-800-GAMBLER. MA: CALL 1-800-327-5050 or visit gamblinghelplinema.org. NY: Call 877-8-HOPENY or text HOPENY (467369). ©2024, Caesars Entertainment

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