Cut Down The Nets With These Can’t-Miss March Madness Betting Promos

Posted on March 15, 2021 - Last Updated on March 20, 2024

March Madness is here and Indiana sportsbooks are ready for the betting action.

This will be the first year that Hoosiers can bet on March Madness in Indiana. They would have been able to bet on the action last year if COVID-19 hadn’t canceled the event.

With so many games taking place in such a short time span, there’s a lot to keep track of.

Thankfully, PlayIndiana has your back.

We’ve got the entire lineup of promotions from all of the top Indiana online sportsbooks in one place.

DraftKings bet $4 win $256

New to betting on sports? There’s never been a better time to dip your toes into the water.

DraftKings has a deal out there for new gamblers to help them get started off on the right foot.

The “Bet $4 To Win $256” promotion is as simple as it sounds.

Get up to $1,000 at Caesars Sportsbook
Get up to $1,000 at Caesars Sportsbook
$1,000 First Bet
On Caesars
Caesars Sportsbook Review
  • Up to $1,000 Back as a Bonus Bet if Your Bet Loses
  • Stream NFL Games In-App for Free
  • 21+ Gambling problem? Call 1-800-GAMBLER 
  • Use Promo Code: PLAYIN1000

If you’re looking to take advantage of the deal, then just click the link above to get things going.

You’ll have to sign up for DraftKings first, and then deposit at least $5 into your account.

March Madness is all about the upsets, so you’ll have to bet on a lower-ranked team to beat a higher seed for this promotion.

After you’ve signed up and made your deposit, just scroll through the list of games and find which one you’d like to bet on.

The promotion is available for the first two rounds of the tournament, so don’t miss out on this new deal. It’s a fantastic value for basketball fans that have never tried DraftKings before.

DraftKings doesn’t stop there with March Madness betting promos

March Mania

DraftKings sportsbook still has more March Madness deals on the board for betting.

The company’s “March Mania” promotion is basically insurance on your basketball bets.

The deal is valid for all March Madness games between March 19 and March 22.

Here’s how the promo works: If the team you bet on loses, but scores 75 points or more in the game, then DraftKings will refund your money up to $50.

That’s it! It’s that simple.

Deals like that help take away some of the risk involved in gambling.

This promotion is particularly special if you’re already a DraftKings regular.

You can use the insurance for every single March Madness game you bet on until the deal ends on March 22.

If you already like betting with DraftKings, then that’s a great reason to stick around.

Refer a friend

The third March Madness deal from DraftKings is a new referral bonus.

If you refer two or more friends to DraftKings, then the sportsbook will give you a $100 bonus for each one, as well as an extra $50 bonus bet to use for March Madness.

To hop in on the action, just find the deal under the “Promos” section of the DraftKings app or website.

Then, copy and paste your specific referral code and send it to your friends. They’ll have to use your special code in order for the deal to work.

Parlay boost

The fourth and final new promotion from DraftKings is a parlays odds boost.

If you place a March Madness parlay with four or more legs, then DraftKings will boost your profits by 20%.

That’s a solid way to increase your winnings if you already had parlay betting in mind.

There’s a $50 max bet for the promotion, which can add up to a max of $250 in additional winnings.

The deal is only available for the opening round of the tournament, so head over to DraftKings soon if the parlay boost sounds interesting.

FanDuel spreads the March Madness betting love

Spread The Love

FanDuel is bringing back its popular Spread The Love promotion for the Big Dance.

Spread The Love puts the odds for Michigan States first game in the hands of gamblers.

For every 2,500 FanDuel users that bet on the deal, the spread for the game moves one point in everyone’s favor.

The spread is already at +25.5, and it’s not going to stop there.

Since there’s no limit on how far the line can move, things tend to get ridiculous by the time the dust settles.

For example, when FanDuel used the deal for an IU basketball game, gamblers moved the spread all the way up to an insane +118.5.

In other words, Spread The Love events are almost guaranteed wins.

There’s a $50 max bet for the promotion this time around, so head over to FanDuel to take advantage of the deal.

Parlay insurance

Many gamblers enjoy putting together parlays to spice up the typical betting experience.

Hoosiers wagered over $66 million on parlays during February alone.

FanDuel is looking to take advantage of the parlay hype with one of its new deals.

Gamblers can use FanDuel’s “Tournament Parlay Insurance” on any of the March Madness games between March 19-30.

That insurance will refund you up to $25 if exactly one of the three or more legs in your basketball parlay loses.

In order to qualify for the insurance, your parlay will have to have odds of -200 or greater. So, for example, a parlay with +100 odds would still qualify you, but a -300 parlay wouldn’t fit the requirements.

March Million giveaway

The final tournament deal from FanDuel sportsbook is a unique one.

The company’s “March Million” contest will be giving away $1 million to one lucky gambler.

So how do you throw your hat in the ring?

It’s easy, just bet on March Madness! Every day that you place a March Madness bet with FanDuel, you’ll earn another entry into the drawing.

You can earn up to 22 entries from now until April 4, so there are plenty of opportunities to get in on the fun.

If you’re already betting with FanDuel, then this is a fun cherry to throw on top of your March Madness betting experience.

PointsBet Let It Rip

PointsBet has a new March Madness deal that’s perfect if you plan on placing a lot of bets.

The “Let It Rip” promotion is sponsored by Rip Hamilton, who won a National Championship with the 1999 UConn Huskies.

The deal gives gamblers more bonus bets the more that they wager on March Madness games.

If you bet $100 on March Madness, then PointsBet will give you a free $50 bet. Wager $500, and you’ll receive another $50.

The list keeps scaling all the way up to a free $799 bet if you wager $20,000 on tournament games.

Betting $20,000 on basketball certainly isn’t everyone’s cup of tea or in everyone’s budget, but if you already plan on being a big spender, then betting with PointsBet could help you maximize value.

Every March Madness game from the first two rounds of the tournament will qualify you for bonus bets.

BetRivers Mystery Madness

BetRivers has a new promotion out there for March Madness.

The sportsbook’s first deal is for Hoosiers betting on the eventual National Champion.

If you place a bet on a team to win the entire tournament, then BetRivers will give you a bonus bet worth half of your original wager, up to $50.

So if you bet $100 on Purdue to come out on top, then BetRivers will credit you with a $50 bonus bet.

That promotion is part of the company’s new “Mystery Madness,” which rewards gamblers for coming back every day.

The app is changing its March Madness promotion daily as part of the fun, so check the “Promotions” section of the website or app after midnight to see the new deal.

Unibet Early Bird Boost deal

Unibet also has an offer out there for you if you’re betting on a team to win the championship.

The company’s “Early Bird Boost” is handing out bonus bets for gamblers who bet on the eventual NCAA basketball champion.

First thing’s first, you’ll have to sign up for Unibet if you haven’t already.

Once you’re all set up, just bet at least $50 on any team to win the championship.

After you do, Unibet will credit your account with a free $25 live bet to use on the first round of the tournament.

Live betting is a fun way to spice up a basketball game. If betting on a game as it’s happening sounds like fun to you, then this is a great deal to look into.

William Hill March Madness promotions

William Hill has a March Madness deal out there for both new and existing gamblers.

The sportsbook is running a “50% Hoops Refund.”

You’ll have to bet at least $10 on a team to win the National Championship in order to qualify for the deal.

If the team you bet on loses, but makes the Final Four, William Hill will refund 50% of the money you lost up to $50.

The promo is similar to today’s Mystery Madness deal from BetRivers, although it does have the extra requirement that the team you bet on makes the Final Four.

These are only the first batch of March Madness promotions in Indiana. More deals will be released throughout the tournament, so check in with your favorite sportsbook for the full list of options.

Photo by Dreamstime
Jake Garza Avatar
Written by
Jake Garza

Jake Garza is a US Gambling Industry Analyst for Catena Media. He specializes in Midwest sports betting and casino content. Prior to covering the legal gambling industry, he spent time as a professional sports writer, reporting on teams such as the Cincinnati Bengals, Indianapolis Colts and Indiana Pacers. Garza is currently working as a Managing Editor for PlayIndiana and PlayOhio, with previous stops at other well-known brands such as PlayIllinois and PlayMichigan. He has been covering the gambling industry since 2019, and currently works with a team of other journalists to provide comprehensive coverage of the legal U.S. gambling industry.

View all posts by Jake Garza