Caesars Entertainment has launched a massive new promotion that will see new customers receive up to $5,000 on their very first sports wager.
The offer runs until September 30, is the largest of its kind thus far for the industry, and is open to bettors in New Jersey, Michigan, Virginia, West Virginia, Indiana, Iowa, Tennessee and Colorado.
Caesars is known for its lucrative bonus bet promos, which has helped grow its customer base across the US. William Hill also previously offered bettors a $2,021 bonus earlier this year, and the promo proved to be successful.
The latest offer from Caesars is part of the recent rebranding of its US sports betting operations, a move which has seen William Hill US change its name to Caesars Sportsbook. The $5,000 risk-free promo is the biggest in the market today, with most operators only offering up to $1,000 bonus for new players.
Caesars Sportsbook and Casino
The promo is only available to new players, meaning existing customers on William Hill are not eligible for the offer.
To get started, you must first sign up with Caesars Sportsbook and provide the information required.
You can then choose a funding method, make a first deposit of up to $5,000, and then place your first wager (up to $5,000) risk-free on any games or events at your preferred price point. If you end up losing your first bet, you will get a site credit in the same amount of your losing wager.
Downside of $5,000 Risk-Free Offer
Bettors can deposit and wager as little as $20, but in order to take full advantage of the offer, many would be enticed to deposit the full $5,000, and this might push some people to gamble irresponsibly, considering that over half of US residents have savings lower than $5,000.
The term “risk-free” being used to advertise the promo may also mislead customers into believing that the money will be returned to them in the form of a refund that they can easily cash out, which is not actually the case. They will instead get site credit, and they must consume it by placing bets via the Caesars Sportsbook app.
If Caesars’ ongoing promo becomes a hit, other operators may follow suit, and some could up the stakes, offering a bonus bet of as high as $10,000. This would mean more trouble for some bettors who show signs of problem gambling.
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