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Caesars Sportsbook promo code CTNEWS1000 unlocks $1K bet insurance in 20 states for any NBA game, other matchup

Action Network
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Chicago Bulls' Andre Drummond, top, dunks during the second half of an NBA basketball game against the Philadelphia 76ers, Saturday, Dec. 30, 2023, in Chicago.

Chicago Bulls' Andre Drummond, top, dunks during the second half of an NBA basketball game against the Philadelphia 76ers, Saturday, Dec. 30, 2023, in Chicago. (Paul Beaty/AP)

Whether you’re in Arizona or Wyoming or any state across the country where Caesars operates, you can get up to $1,000 in bonus bets with the Caesars Sportsbook promo code CTNEWS1000.

Currently, Caesars Sportsbook offers a generous bet insurance promotion for new customers across the country who sign up for an account with using the module below.

Since this is a bet insurance promotion, new users will ONLY earn bonus bets if their first wager loses. In that case, they’ll get their full stake back in bonus bets that can be used for additional bets.

So, if you wager $400 and lose, you’ll get $400 in bonus bets. If you bet $700, you’ll get $700 in bonus bets. There’s a $1,000 cap so you’ll only be covered up to $1K.

Based on the nature of this offer, it behooves you to place a bet on a market with longer odds. If you win, you’ll collect a bigger profit and if you lose, you’ll get refunded in bonus bets.

How to Use the Caesars Sportsbook Offer

As mentioned above, since this is a bet insurance promotion you’ll only earn bonus bets if your first bet loses. This offer is nice as a sign-up offer because you’ll either collect profit from a successful wager or get refunded 100 percent of your stake in bonus bets.

To get the most value out of this offer, you should place your first bet on a market with longer odds and, in the event it wins, you’ll collect more profit. Even if that bet loses, you’re covered and will get your full stake back in bonus bets.

So if you placed a $1,000 cash wager on the Bulls to beat the 76ers at +390, you’ll get $3,900 in profit if Chicago pulls off the upset. Even if the Sixers win, you’ll get $1,000 back in bonus bets that can be used for additional wagers.

Bonus bets earned from this offer are valid for 14 days after distribution. Similarly, if you earn bonus bets you cannot immediately withdraw them and need to bet them in order to cash out. With that in mind, bonus bet stakes will not be included in successful wager payouts because bonus bets are only valid for one wager a piece.

How to Sign Up with Caesars Sportsbook and Important T&Cs

Critically, this promotion is only available for new bettors who are 21 or older and present in one of the 20 legal Caesars Sportsbook states.

You do not need to be a resident of one of the legal states to take advantage of this offer. As long as your in a legal sports betting state, you’ll be able to sign up as Caesars — like other sportsbooks — using geolocation data to screen users. If you’re traveling you can still sign up and wager and will still be able to withdraw your winnings when you return to your home state.

  1. Use the module above to get to the Caesars Sportsbook state selector page. From there, you’ll choose the state you’re located in. The promo code will autofill if you use the module above.
  2. Input the relevant personal details, including your real address and birth date, to verify your account. As noted, you’ll still be able to play even if you don’t live in a state that allows legal sports betting.
  3. Make your first deposit of at least $10, in cash, to register your account.
  4. You’re ready to wager! Critically, your first bet must be made in cash to qualify for this promotion.