bet365 Sportsbook is now live in Illinois and Tennessee: sign up with bet365 bonus code LABSNEWS and claim your bet365 bonus bets. Wager on March Madness NCAAB games this week, such as Arizona vs. Duke on Thursday, with your bonus bets. Use the bet365 bonus code LABSNEWS to get your bonus bets through a $150 bet-and-get offer in Illinois and Tennessee.
The way the bet-and-get offer works in both states is fairly straightforward. You bet $5 on any March Madness betting market with -500 odds or longer. Once your bet settles, you get $150 in bonus bets, win or lose.
Read below to see the best ways to use your bonus bets from the bet365 bonus code in Illinois or Tennessee. Sign up with bet365 Sportsbook and use your bonus bets on March Madness games now.
Best Ways to Use bet365 Bonus Bets in Illinois for March Madness
Now that bet365 Sportsbook has launched in Illinois and Tennessee, look at these strategies to make the most of your bonus bets from the bet365 bonus code LABSNEWS.
Turn Your Bonus Bets into Cash With Hedging Strategy
bet365 bonus bets are different from cash funds, and you can’t withdraw them to your bank account. It is possible, however, to get some withdrawable cash through March Madness bets a hedging strategy with a different sportsbook.
This strategy is simple: you use two sportsbooks and place a separate bet on either side of a March Madness betting market. For example, let’s say I have $150 in bonus bets from both bet365 Sportsbook and BetMGM Sportsbook and I want to bet on the Arizona vs. Duke game. Arizona is listed at +360 to win their matchup against Duke on bet365, while the Duke moneyline is listed at -475 with BetMGM.
Let’s say you use $150 in bonus bets to bet on Arizona with bet365 and $150 in bonus bets to wager on Duke with BetMGM. Either way, you get a cash payout of at least $31.58. If Arizona wins, you get $540 in cash from bet365 Sportsbook. If Duke wins, you receive $31.58 in cash from BetMGM Sportsbook.
Wager with Bonus Bets on Plus-Money Markets in Illinois or Tennessee
Use your bet365 bonus bets on Illinois and Tennessee on available plus-money markets. Since you don’t keep the stake with a bonus bet wager, it is prudent to use it on a plus-money market since, that ensures the payout is more than the initial stake.
The smart play is to look for betting markets that feature a higher expected value (+EV). For example, the Arizona moneyline is +360 against Texas, but other sportsbooks have it at around +350.
Let’s say you use $150 in bonus bets to bet on Arizona. If your bet wins, you get $540 in winnings, compared to the $525 in winnings at other sportsbooks.
How bet365 Bonus Bets work for March Madness in Illinois and Tennessee
Let’s say you’ve already received your bonus bets, but you’re unsure of how they work or what stipulations there are when you use them to bet on March Madness games or other events such as NBA or NHL games. Here is how the bonus bets from the bet365 bonus code LABSNEWS operate in Illinois and Tennessee:
- Bonus bets expire after seven days. Though you are allowed to place bets on listed future sports events, the bonus bets themselves must be used on wagers within a seven-day period.
- You are allowed to use your bonus bets on any available sports betting market, such as March Madness
- It is possible to divide the $150 in bonus bets however you like. For example, it is possible to make 150 bets of $1, or 75 bets of $2.
- Your bonus bet amount will appear on your bet slip. By checking the box to confirm you want to use bonus bet funds, you can place your wager as you normally would.
- For more insights, consider exploring the +EV betting guide. To adopt a mathematical approach, you might use your bonus on a market with odds in the +300 to +700 range.
Must be 21+ and Present in IL. Minimum $10 deposit required. Minimum odds -500 of greater. Bonus Bets wager excluded from returns. New customers only. T&CS, time limits and exclusions apply. Super Boost only available to new customers, max wager $50, bet restrictions, time limits and T&Cs apply.
Must be 21+ and Present in TN. Minimum $10 deposit required. Minimum odds -500 of greater. Bonus Bets wager excluded from returns. New customers only. T&CS, time limits and exclusions apply. Super Boost only available to new customers, max wager $50, bet restrictions, time limits and T&Cs apply.
