Best Kentucky Sportsbook Bonuses & Promo Codes for 2023

When Kentucky finally launches legal and regulated sports betting, the biggest online sportsbook brands in the U.S. are going to come to the Bluegrass State and compete for a piece of your action. That means offering you a variety of sportsbook bonuses and promos to attract your business.

They’re going to offer you bonus bets just for signing up, making deposits, and betting regularly. Here’s how you can get your hands on all that and more, including information on the best online sportsbook bonuses and promos in the country and their true value.

Kentucky sportsbook promos and offers

The top online sportsbooks in the country offer great bonuses and valuable promos in the dozens of states where they’re licensed to operate. Here’s what they’re doing now and what they’re likely to bring as Kentucky online sports betting apps in the near future.

Sportsbook bonus and promo awards

Here’s a look at the best sportsbooks across three important categories.

1. The winner of the best sportsbook for upfront value in a new player bonus is…

🥇 – Caesars Sportsbook and its $1,250 first bet.

The runner-up is…

🥈 – DraftKings Sportsbook with its combination of a 20% first deposit bonus up to $1,000, a $50 no deposit bonus bet offer, and a $150 Bet & Get bonus with a $5 cash bet adding up to  $1,250

2. The winner of the best sportsbook for ease of getting your hands on a new player bonus is…

🥇 – BetMGM Sportsbook and its $1,000 first bet offer paid back in bonus bets if you don’t win your first bet, plus a $50 bonus bet after your first bet settles.

The runner-up is…

🥈 – Caesars Sportsbook and its $1,250 first bet. All you have to do is bet, and you’ll get paid back in bonus bets if you don’t win.

3. The winner for most creative promo by an online sportsbook is…

🥇 – FanDuel Sportsbook and its MSG Three Point Bonus, giving away a $10 bonus in Bonus Bets if the NY Knicks make twelve or more three-pointers in home games at MSG to anyone placing a $10+ SGP on the game.

The runner-up is…

🥈 – BetMGM Sportsbook’s World Series Bet & Get offering a $20 bonus bet to anyone that places a bet of $50 or more on any MLB team to win the 2023 World Series.

Kentucky sportsbook promo codes

Keep an eye out for promo codes and bonus codes when Kentucky sportsbooks unveil their welcome offers.

A promo code is usually some combination of letters and numbers you have to enter at some point during registration in order to get the full sign-up offer.

However, some sportsbooks don’t require a promo code and instead give their bonus to all new customers.

What to look for in a sportsbook bonus offer

You’ll want to consider these four factors when deciding whether a sports betting bonus offer from a Kentucky online sportsbook is worth pursuing:

1. Bonus amount: the bigger the bonus, the better
2. Playthrough requirements: the less you have to do to clear the bonus, the better
3. Bonus type: Bonus bet, deposit bonus, and first bet offers are all different
4. Sportsbook reputation: The biggest and best offers come from recognizable, trustworthy, and reliable U.S. sportsbooks

How playthrough requirements work

There is something of a catch when it comes to new player bonuses at online sportsbooks. At the very least, there will be something you must do to get your hands on the bonus. Most of the time, there are simple wagering requirements, otherwise known as playthrough requirements.

These requirements are attached to the bonus so you can’t simply take the money and run. However, they’re easy to follow, as they simply spell out the number of times you have to bet the bonus before you can actually withdraw it or any winnings accrued using it. Ultimately, playthrough requirements tell you how difficult a bonus is to clear and, therefore, its true value.

Most of the time, the bonus bets offered to you by sportsbooks have what’s equal to just a one-time or two-time playthrough requirement, making them easy to clear. All you have to do is either bet one time with your bonus bet, and the winnings are yours to keep, or place one bet with your own money, lose it, and you’ll get a refund in bonus bets you can use to bet again.

It gets a little more complicated when it comes to deposit bonuses. Read the fine print on these bonuses. It’s common to find you’ll have to wager the bonus amount as many as 15 or 20 times before the bonus is actually released to you.

Types of Kentucky sportsbook bonuses and promos

• Deposit match bonuses: This is where a sportsbook matches a percentage of your deposit with bonus money you can use to place bets. The match will generally range from 20% to 100% of your deposit. Just be careful, as there are always wagering requirements attached, and they can be tough to clear unless you string together a few wins. Look for higher percentages, higher limits, and lower wagering requirements to get max value out of a deposit match bonus.
• No deposit bonuses and bonus bets: This is a bonus bet sportsbooks give you just for signing up. You have to bet with it, so there’s something akin to a one-time wagering requirement attached. But there’s no need to make a deposit, and anything won with a bonus bet should be yours to keep. If there’s a downside, it’s that sportsbook bonus bets like this are almost always on the small side.
• Bet and Gets: This is generally a bonus bet sportsbooks give to you for betting on something else. Essentially, Bet and Gets either offer you a bigger-than-normal payoff or a guaranteed win. The standard Bet and Get offers some great value, giving you $150 to $200 in bonus bets just for betting $5 in a particular market, whether you win that bet or not.
• Odds boosts: Here, sportsbooks give you bigger-than-normal odds on a particular bet. Most sportsbooks offer daily odds boosts and regular odds boosts surrounding big events. Sometimes you can even choose where to apply a boost. Boosted bets have value only when they win, so it’s important not to let a boost sway you into making a bet you don’t like. Instead, look at odds boosts as added value to something you were already going to bet on.
• Profit boosts: This is where sportsbooks offer you the chance to earn a bigger profit on a winning bet. It’s usually a small percentage added to your profits on a bet. Most sportsbooks offer profit boosts regularly, particularly surrounding big events. Once again, these boosts have value only when you win, so don’t let the allure of a profit boost sway you. Instead, look at profit boosts as added value to bets you were already planning to place.
• Insurance: Whether you’re talking about parlay insurance, OT insurance, third-or-fourth-quarter insurance or point insurance, this is where a sportsbook offers you a refund in bonus bets on the bets you come within a hair of winning but fall just short. There’s usually a limit on the size of your refund, and it comes as bonus bets you must use to bet more, not as a full cash refund.
• Daily and weekly promos: These are offered to existing players. You might get a $10 bonus bet for placing $50 in bets the week before, or something similar.
• Event promos: Sportsbooks run promos, odds boosts, free contests, and more surrounding big events like the Super Bowl and March Madness.
• Pools and contests: Many sportsbooks run free-to-enter betting pools and sponsored contests surrounding big events with cash or bonus bet prizes.

Sports betting bonus terms & conditions explained

Read the terms and conditions attached to any sportsbook promo or bonus. These will tell you if there are any strings attached and what they are. Wagering or playthrough requirements are just one example of the kind of terms and conditions attached to a promo or bonus. Others may include:

• Whether the value of a bonus bet will be included in the payout on winning bets
• If refunds come as cash, site credit, one bonus bet, or multiple bonus bets
• What bets qualify for a promo (number of legs in a parlay, minimum odds, etc.)
• All minimums and maximums

Registering with multiple sportsbooks

New player bonuses at licensed sportsbooks are limited to one per person. But there’s no reason why you can’t sign up with every licensed sportsbook in the state and take advantage of them all.

Taking advantage of every one-time, one-per-person offer out there will ensure you get maximum value out of every online sportsbook that lands in Kentucky. Plus, it’ll give you the chance to see what each sportsbook is really about, helping you make an informed decision about where to take your action.

Just be careful. You’ll need to clear the bonuses for this to really pan out, and that might take some work. In fact, it could turn out to be an expensive effort if you’re not winning your bets.