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In a busy sports weekend, it could be worthwhile to take advantage of sportsbook welcome offers such as the new bet365 promo code. Those interested can use CBSBET365 for a "bet $5, get $150" bonus bets offer, whether the $5 bet wins or loses. March doesn't just mean college basketball, as the NBA season has key matchups between playoff contenders.

New bettors who want to create a bankroll to wager on these events may want to look at bet365's sign-up offer of bet $5, get $150 in bonus bets win or lose. Let's understand how bet365's promo works along with its advantages and disadvantages compared to other sportsbook offers. 

How to claim the bet365 promo code

Do you want to obtain bet365's welcome offer during this busy week in the sports calendar? New users can follow these directions below to get $150 in bonus bets.

  1. Click "Claim Bonus" to be taken to bet365
  2. Fill out the requested information and remember to include the promo code CBSBET365
  3. You must make an initial deposit of at least $10
  4. Bettors have to claim the offer within 30 days of registration and then make a first wager of at least $5

Once you receive the $150 bonus bets, you can split up the amount in whatever fashion you'd like. With other sportsbooks' welcome offers, they'll give you tokens that have a fixed amount—like DraftKings' $200 in bonus bet is eight $25 tokens or anything above $50 is split into five even tokens at BetMGM (so a $1,500 first-bet loss would be five $300 bonus bet tokens). When you wager with bonus bets, you only receive the winnings back if you win your bet. For instance, if you make a $25 wager with bonus bets on a bet with +100 odds, you'd get back $25 if it wins (only winnings) and not $50 (initial stake plus winnings).

All bonus bets expire within seven days. New users must be 21+ to sign up for bet365, except in Kentucky (18+).

Bet365 promo comparison

Here is how bet365's welcome offer stands compared to other sportsbooks, as this table displays every current promo:

Brand

Promo

CBS promo code

bet365

Bet $5, get $150 in bonus bets win or lose

CBSBET365

FanDuel

Bet $5, get $200 in bonus bets if your bet wins

None required

Fanatics

Bet $30, Get $300 in Bonus Bets (select states) 

None required

DraftKings

Bet $5, get $200 in bonus bets instantly

None required

Caesars

Bet $1, double your winnings your next 10 bets

CBSDYW

BetMGM

Up to $1,500 in bonus bets if your first bet loses

CBSSPORTS

Both bet365 and DraftKings are offering bonus bets to new users, regardless of whether your first wager wins or loses. The key difference between the two is how you can use the bonus bets. With bet365, you can wager the $150 in bonus bets however you want, whether it's with one bet or spread out across several wagers (10 $15 bets, 30 $5 bets, etc.). DraftKings, however, provides eight $25 bonus bet tokens on its $200 offer in bonus bets, which forces your bet amount. 

Meanwhile, FanDuel has a bet $5, get $200 in bonus bets, but only if you win your first wager with the sportsbook. These promotions are a solid way for first-time bettors to get a feel for what sports betting is all about without having to wager a lot of money. 

With BetMGM, Fanatics and Caesars, bettors have to bet more in order to earn more. BetMGM offers a first-bet insurance of up to $1,500, where if you lose your first wager, you get that same amount back in bonus bets. Fanatics has a first-bet insurance of up to $100 in each of your first 10 days with the sportsbook, with the possibility of receiving up to $1,000 in bonus bets. With Caesars, after a first bet of $1, bettors are awarded with 10 100% profit boost tokens that have a maximum wager of $25 and maximum winnings of $2,500. If you wager the maximum amount with these sportsbooks' welcome offers, you'd end up betting $1,500 at BetMGM, $1,000 at Fanatics and $250 at Caesars. Obviously, that is a lot more than an initial wager of $5 at bet365, DraftKings and FanDuel.

What to bet on today in sports

The college basketball tournament continues on Sunday when top seeds Duke and Florida are in action. Two-time defending champion UConn is a No. 8 seed and will need to get by the top-seeded Gators to have a shot at a three-peat. Just four teams will earn their trip to San Antonio -- will it be one of the favorites, or will a surprising underdog make a run?

Duke, meanwhile, will get the best shot from the Baylor Bears. Duke should have a decided size advantage, but the battle of the guards should be fairly even.

Responsible Gaming

Before anyone gets into sports betting, it's crucial to learn about the importance of responsible gaming. Bet365 has tools for bettors to help gamble responsibly, including stake limits (setting a maximum for how much you can wager on a bet) and deposit limits (how much you can deposit over a set period of time).

Other resources are available, such as The National Council on Problem Gaming, Gamblers Anonymous and calling 1-800-GAMBLER.