Indiana Sportsbook Bonuses and Latest Promo Codes

In September 2019, Indiana became the tenth state to legalize sports betting after the federal ban was lifted a year earlier.

Online sports betting began a month later when DraftKings and BetRivers became the first legal Indiana sports betting apps to launch in the state. FanDuel soon followed.

With the help of 14 legal online sportsbooks in the state, all of which are available for Android and iOS mobile devices, Indiana has taken more than $10 billion in wagers, making it a top six state in terms of handle since sports betting became legal in the US.

Now that online sports betting has been legalized in Indiana, numerous welcome bonuses and promotions such as bet insurance, risk-free bets, profit boosts, and free bets are available for sports bettors in The Hoosier State.

Continue reading to learn about the different sportsbook bonuses, how to use promo codes, what terms and conditions to keep an eye out for, and which Indiana sports betting sites offer the best value.

Best Indiana Sportsbook Promos and Bonuses June 2023

The above offers include the best second-chance bets for new customers in Indiana. All Indiana sportsbooks offer welcome bonuses, but the above online sports betting promos provide users with the best value. Sign up with any of the legal sports betting platforms above and claim your bonus money today.

Indiana sportsbooks maintain profits by offering bettors less than true odds on their wagers. However, the juice is minimal enough that a wise player can find means to temporarily turn the book’s edge on its head. One of the most effective ways to do this is by taking advantage of Indiana sports betting promos such as second chance wagers or free bet money from betting apps.

PointsBet Sportsbook Indiana – 5x$50 Second Chance Bets

PointsBet sportsbook combines a modern look with a traditional online sports betting site layout and features everything online bettors have come to expect from a sports betting site, like live betting, an early cash-out option, and some of the top odds on favorites.

The online sportsbook’s 18 betting markets, which include an entertainment category, can be found listed within the collapsible sidebar to the left of the screen. For the more popular professional sports leagues, Pointsbet sportsbook provides betting stats, including the win probability, weight of bets, and weight of money.

Those with higher risk tolerance and the bankroll to back it up may be interested in PointsBet sportsbook’s new bet type, pointsbetting, where every single point matters, unlike traditional fixed odds betting. If your bet wins by one unit, your stakes will be multiplied by one. If your bet wins by two units, you win two times the wager, and so on. Conversely, if you lose by one unit, you would lose one times the stakes. Lose by ten units, lose ten times the bet. For specific markets, pointsbetting limits your risk of potential losses from a bet with the stop loss slider. This will also limit your potential winnings.

PointsBet sportsbook has also put a new spin on the second chance welcome bonus, by breaking up the typical large bet insurance, in this case, up to $250, into smaller promos of up to $50 to be used over five days. Any losing wagers will be refunded in bonus bet credits within 24 hours. Second chance bets must be used consecutive days after placing your first wager. If you miss a day, you lose that day’s bonus opportunity. Bet credits can be split up to four times, expire after a week, and can’t be used on pointsbetting wagers. Click here to create a PointsBet account and claim the welcome bonus bets from anywhere in Indiana.

For existing customers, PointsBet sportsbook offers bettors a pair of daily parlay odds boost tokens. One for a traditional parlay, the other of the same-game parlay variety. The online sportsbook also has a rewards program where bettors can convert points into PointsBet bet credits.

Caesars Sportsbook Indiana – Tier Credits & $1250 First Bet Insurance

With its acquisition of William Hill in 2021, Caesars Entertainment, one of the largest gaming companies in the world, became one of the biggest online sportsbook operators in the US.

Designed with mobile in mind, Caesars sportsbook features 17 sports betting markets, great value on underdogs, and a favorites section to save time. As the official partner of the NFL, the sports betting site also became the first sportsbook to stream NFL games through the Caesars app.

For what the Caesars sportsbook lacks in bells and whistles, they make up for with possibly the best welcome bonus in the business. Not only do new bettors get a no-sweat first bet of up to $1,250, reimbursed in a single bet credit if the initial wager settles as a miss, with that comes 1000 tier credits and 1000 reward points redeemable for bonuses and discounts at retail locations. To claim the welcome bonus, enter the Caesars promo code GUSAFULL below your email address during the registration process.

Bettors have 30 days from opening an account to deposit at least $10 and place a qualifying first wager. Bonus bets will be credited within 48 hours, must be used in one lump sum, and expire after 14 days. Tier credits and Caesars reward points may take up to a week to settle.

Along with plenty of daily profit boosts to peruse, seasonal promos for existing Indiana customers include parlay bet insurance and opportunities to earn bet credits.

FanDuel Sportsbook Indiana – $1000 Second Chance Bet

The most popular legal online sportsbook provider in the US, FanDuel sportsbook features an intuitive interface, competitive odds, an extensive list of prop bets, and expanded same game parlay combinations.

Bettors will find 18 sports to choose from and some helpful betting info for significant events, including results of the last five games, the weight of money and bets on the spread, and records against the spread, moneyline, and point totals.

FanDuel sportsbook offers new users a welcome bonus second chance first bet of up to $1,000, returned in free bet credits if the wager settles as an L. After depositing at least $10, the FanDuel Sportsbook bonus will automatically apply on the first wager. No IN promo code is required. Any free bet credits will appear within 72 hours and expire after 14 days. Free bets can be broken into multiple bets and come with just 1x rollover requirements. Click here to sign-up and start betting on FanDuel.

Existing customers will be happy to find weekly promos, including capped stakes no-sweat bets, parlay bet insurance, and prop bet odds boosts.

BetMGM Sportsbook Indiana – $1000 Second Chance Bet

BetMGM sportsbook has made up a lot of ground quickly by offering 24 sports, competitive lines on both sides of the action, and a cool edit my bet option. The edit my bet feature is available on parlays with unsettled sections. Along with increasing stakes, Hoosier bettors can add, swap, or remove picks.

BetMGM IN sportsbook welcomes new users with a second-chance first bet of up to $1,000, refunded in bet credits if your initial wager falls flat. To claim the welcome bonus, enter BetMGM promo code GAMBLEUSA when depositing at least $10. Bonus bets will hit your account within 24 hours and disappear after a week.

If your bet loses and is over $50, you will receive five bonus credits back in equal denominations of 20 percent of the total amount up to $1,000. If your wager loses and is less than $50, you will receive a single bet credit back equaling the bet amount.

Promos aren’t as frequent as with some online sportsbooks, but BetMGM does offer a bonus bet where you wager a certain amount during the week and earn bet credits. The MGM reward program is robust, and loyalty points can be redeemed at participating locations nationwide for exclusive deals, discounts, upgrades, waived fees, expedited window service, bet credits, and more.

DraftKings Sportsbook Indiana – $1000 Bonus Match

With operations in 20 states, DraftKings sportsbook has the most extensive reach of any legal online sports betting site and features more sports betting markets than most at 28 sports. The oddsmakers at DraftKings favor the favorites when setting lines where bettors will find value.

DraftKings sportsbook gives Indiana bettors less reason to leave the site by providing a helpful stats section, which includes an overview, betting trends, stats, and prop bet success rates with customizable ranges.

The DraftKings sportsbook welcome bonus could be better, offering just a 20 percent deposit match of up to $1,000 released at $1 for every $25 spent, which equates to a stingy 25x playthrough. A minimum sports deposit of $5 is required, and only bets on odds of -300 (i.e., -250, -150, +300) or better qualify towards the release of bet credits. Bettors have 90 days to maximize their bonus. To start racking up DK dollars click here.

The online sportsbook makes up for it with plenty of worthwhile weekly promos, including free bets, risk-free bets, and parlay profit boosts. DraftKings bonus dollars can also be earned on cash wagers.

Indiana Sports Betting Highlights

• State sports betting launch: September 2019 (October for online)

Top IN promo codes:

• #1 PointsBet IN Bonus –  Five $50 second-chance bets (one per day)
• #2 Caesars IN Bonus – $1,250 second-chance first bet +1000 tier credits and 1000 reward points
• #3 FanDuel IN Bonus – $1,000 risk-free first bet
• #4 BetMGM IN Bonus – $1,000 no-sweat first bet
• #5 DraftKings IN Bonus – 20% deposit bonus match up to $1,000

• Legal IN online sportsbooks: Bally Bet, Barstool, BetMGM, BetRivers, Betway, Caesars, DraftKings, FanDuel, PointsBet, TwinSpires, Unibet, WynnBET, Hard Rock, MaximBet
• IN sports betting markets: Aussie Rules, Badminton, Baseball, Basketball, Bowling, Boxing, Chess, Cornhole, Cricket, Cycling, Darts, eSports, Floorball, Football, Futsal, Gaelic Football, Gaelic Hurling, Golf, Handball, Hockey, Jai Alai, Lacrosse, MMA, Motorsports, Rugby League, Rugby Union, Snooker, Soccer, Table Tennis, Tennis, Track and Field, Volleyball, Winter Sports
• Bet types: Moneylines, Point Spreads, Over/Unders, Futures, Prop Bets, Parlays, Teasers, Same Game Parlays, Round Robins, College betting, Jai Alai, Multibets, Pointsbetting, Flash Bets

Types of Sportsbook promo codes available in Indiana

With competition heating up between online betting sites, bettors are in a prime position to take advantage of generous Indiana sportsbook promos. The legal sports betting industry has settled on a few popular sportsbook bonuses, including deposit matches, free bets, risk-free bets, and bet-to-get.

Deposit matches

The principle behind the deposit match is simple: You deposit a certain amount of money, and the operator matches this amount (either entirely or partially) with bonus free bet credits.

For example, if an online sportsbook offers a 50 percent deposit match of up to $500 for every dollar deposited, the sports betting site will issue 50% of that as a bet credit bonus.

How good a deposit match bonus is depends on several factors. Most crucial is the wagering requirement, which is the number of times you must bet your bonus before it’s converted to cash. If you find a 1x playthrough requirement, that is excellent, as once the bonus is wagered once, the money can be withdrawn. By contrast, if you find a bonus where the operator imposes a 25x playthrough requirement like DraftKings, that is less appealing.

Also, the higher the percentage, the better. The gold standard is typically 50 percent or more. The monetary cap is also essential, with $500 being the average. Ensure you always check if there are expiration dates, as deposit match offers often expire after a certain period.

Free bets

Free bets are one of the most common welcome bonuses utilized by Indiana online sportsbooks and across the country. The concept behind them is straightforward: you can make a bet using house money, and any winnings are instantly awarded as cash. Some sports betting sites will require you to use free bets in one lump sum; others will allow you to split them up.

Stakes using free bets are not included with any winnings generated. For instance, if you get a free bet of $100 and bet it on odds of +200, you would get $200 for a winning payout, not $300 as if you used your own money.

As with most bonuses in the online sports betting world, free bets usually have some restrictions tagged on them. Mainly, you may be forced to bet only on limited markets at odds greater than -200 or -300.

Free bets are presented in a couple of different ways:

• No deposit free bets
• Deposit matched free bets
• Matched free bets
• Existing customer free bets

Risk-free first bets

Risk-free bet offers sound fantastic on paper, but they are essentially watered-down versions of free bets. Unfortunately, as the legal US betting industry matures, this promo is becoming more widespread, especially as part of welcome bonuses.

Bettors who lose on their first bet will get a refund of the wager up to a specified amount. So, a $300 risk-free bet offer will award up to $300 if the bet loses, a $1,000 risk-free bet would return $1,000, and so on. The obvious issue here is bettors who win their first bet don’t receive anything beyond their winnings. This is why free bets are superior, as the bonus is delivered win or lose.

Bet-to-get

Bet-to-get bonuses are just as they sound. Bet a specific amount and get free bet credits in return. Bet to get welcome bonuses may be exponentially bigger, but for existing bettors, the percentage usually ranges from 5-20 percent.

Terms & Conditions for Indiana Sportsbook Bonuses

Welcome bonuses may be promo code protected. For existing customer promos, bettors usually need to select opt-in from the promo page. Some Hoosier online sportsbooks do better than others at highlighting bonus qualifying criteria. For a complete list of terms and conditions, click the labeled link or drop-down tab located within the promotion. Be aware of bet minimums, rollover requirements, and expiration dates.

Industry-standard practices include the inability to combine promotions and the canceling of any bonus previously applied by cashing out early. Bookmakers may designate some bet types as unavailable for specific promos within the fine print.

Opt-in

• Depending on the online sportsbook, welcome bonuses may apply automatically after meeting certain deposit or betting requirements; Indiana promo codes might otherwise be required
• For all other promos, you’ll most likely need to select the opt-in option
• Locate the dedicated promo section to find the button
• Some options may be accessed from the homepage

Rollover requirements

• Bonus funds may not be available for withdrawal straight away
• Most online sportsbooks require bettors to wager the bonus before money becomes eligible for withdrawal
• The multiple could be up to 50x the bonus amount (however, it is typically less)
• Enough online sportsbook bonuses offer 1x rollover requirements, bettors can be picky

Expiration dates

• Bonus bets usually come with short expiry periods
• These typically range from a few days to a month
• You must use the bonus before this date or risk losing it
• Welcome bonus free bet credits may have extended windows

Bet minimums

• Promos may require bettors to meet specific criteria
• Stakes limits call for a minimum size wager or maximum bet bonus cap
• Odds minimums like -200 or better (i.e., -150, +200, +400) must be met to qualify
• Usually on parlays of three legs or more, by individual portion or combined

Indiana Sportsbook Bonuses for Existing Users

Online sportsbook bonuses for existing users are often lesser versions of welcome bonus free bets, risk-free bets, and bet to get. Other promo opportunities bettors will encounter include bet insurance, profit boosts, and reward points.

With existing customers, sports betting sites can be more creative, for instance, the NBA early win bonus from DraftKings. If the NBA team you bet on gets up by ten or more, the wager automatically cashes, regardless of the outcome.

Bet insurance

Bet insurance is a type of risk-free bet but is more common for parlays. Stakes will be refunded if one leg of a parlay (usually three or more legs) settles as a loss. UFC betting and golf betting promos take a similar approach. Your money is returned if the fighter or golfer you bet to win doesn’t make the cut.

Odds boosts

Odds boosts provide increased payout and are a great way to turn the oddsmakers’ advantage in your favor. Profit boosts come in a few forms, including daily or weekly prop bets or through opt-in promo opportunities. Hoosier bettors may have to meet specific requirements to qualify.

Reward points

The value provided by sports betting site promos will outpace any bonuses earned through rewards points, but when deciding between online sportsbooks, getting a small percentage returned for your efforts can make the difference. Reward points can often be redeemed for free bets, profit boosts, and cash. Some of the loyalty schemes featured at online Indiana sportsbooks extend to Hoosier casinos like the FanDuel Rewards Program, iRush Rewards, and mychoice loyalty points.

Who is eligible for Indiana sports betting bonuses?

To be eligible for Indiana sportsbook bonuses, sports bettors must be 21 years of age and physically located in Indiana. Although most forms of gambling in the state, such as pari-mutuel wagering, only require you to be 18 or older, sports betting is linked to the state’s casinos, so you must adhere to the same age requirements. Only one welcome bonus per residence or IP address can be claimed.

Before claiming any sort of welcome bonus in Indiana, you must complete the sportsbook registration process by providing verifiable personal information, including your name, email, date of birth, phone number, address, and the last four digits of your social security number, which the Indiana Gaming Commission has ordered. Your account will be approved and verified in seconds if everything is above board.

How to use Promo Codes

Before you use your deposit match bonus or risk-free bets once you have created your online sportsbook account, you should be aware of promo codes. Sometimes, a book may ask for a promo code to be used to activate a bonus. To claim an offer, you must opt-in using a unique promo code. These codes take the form of a short word or phrase and appear in caps. They may look something like “GUSAFULL” or “GAMBLEUSA”.

Using a promo code is simple. During registration or your first deposit, there will be a field reserved in the form. By entering a promo code at sign-up, you will trigger one of the most valuable promotions you will ever receive at a betting site: the welcome bonus. These are usually worth hundreds of dollars in added value, so make sure you don’t miss out.

Tips for turning IN sportsbook promos into real cash

Always read the fine print and do your due diligence before placing any bonus bets. Requirements can change from site to site and bonus to bonus. You don’t want to take on more risk or increased stakes thinking you’re making a risk-free bet when you’re not or have to scramble minutes before a match starts because you haven’t met the odds minimum requirements.

Use multiple sportsbooks to take advantage of as much free or value action as possible. Keep in mind the welcome offers will eventually dry up. Still, having a few accounts with different sportsbooks is also a good idea to shop the best lines before placing a bet.

Frequent promos and profit boosts can keep the odds in your favor. Professional bettors look for the slightest of edges on lines. Profit boost percentages provided by sports betting sites trump those numbers. Reward points can also add up.

Popular IN teams to bet on

Along with the Indianapolis Colts (NFL) and Indiana Pacers (NBA), the Hoosier State is also home to the Indiana Fever (WNBA) and Indianapolis 500. Betting on college sports is permitted but no prop bets.

Complete list of D-I college teams:

• Ball State
• Butler
• Indiana
• Indiana State
• Purdue
• Notre Dame
• Valparaiso

Indianapolis Colts

It took only a short time after the Indianapolis Colts’ initial sports betting partnership with PointsBet sportsbook came to a close in 2021 for Caesars and WynnBET to secure deals. FanDuel is involved on the daily fantasy sports side. During the offseason, bettors can wager on futures like will the Colts win the AFC South, AFC Conference, Super Bowl, achieve over/under a certain number of wins, or who they’ll take in the NFL draft. IN betting apps are the first to release promo codes before a big game of the Colts.

Indiana Pacers

In 2020 the Indiana Pacers inked a deal with PointsBet sportsbook to be part of $360 million in arena renovations. DraftKings has dibs on DFS. Like the NFL, basketball bettors can wager on the Pacers to win the Central Division, Eastern Conference, NBA Finals, whether they will reach a certain number of wins, or their draft picks.

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