Best NJ Sportsbook Promos & Codes for 2023 – Claim up to $1,000

Gambling revenue in New Jersey topped $4.84 billion in 2021 and as a result, elevated The Garden State to the biggest sports betting market in the country. Consequently, there’s been a huge influx of betting sites and in this guide, we’re going to highlight the best NJ sportsbook promos and codes for 2023.

NJ Sportsbook Promos September 2023 & Promo Codes

The table below highlights all the best NJ sportsbook promos along with the bonus type that you can claim with a new account.

(Note: PlayUp is currently offline until further notice. We expect a revamped site will return later in 2024).

Affiliate Disclosure: Techopedia may receive advertising commissions for visits to a suggested operator through our affiliate links, at no added cost to you. However, all our recommendations are unbiased and follow a thorough review process. Players must be a legal gambling age and located in a regulated US gambling state. Gambling can be addictive, please play responsibly.

Reviews of the Best NJ Sportsbook Promos

In this section, we’re going to include in-depth information about what bonuses you can claim for each of the best NJ sportsbook promotions and how they work. We’ve also included any additional existing player offers along with notable T&Cs.

1. BetMGM – Up to $1,000 Second Chance Bet / Highly Competitive Betting Lines and MGM Rewards Program

Our BetMGM Bonuses Verdict (9.5 / 10)

BetMGM has an excellent promotions section that can rival the likes of DraftKings and FanDuel. The welcome bonus comes in the form of a second chance first bet worth up to $1,000. It’s a 100% match meaning that if your first bet is unsuccessful, then you get it refunded up to $1,000.

This is one of few second chance bonuses that can rival the market leader of Caesars (up to $1,250) and is part of an impressive promotions section. The refer-a-friend promo allows you to claim up to $50 for each friend that makes a qualifying deposit (limited to 20 friends in total).

Parlay insurance is one of the latest additions to the promotions package and this will refund parlay bets of 4+ picks that has just a single leg loss up to $25. You can also tie this to same game parlay bets which is another standout feature within the sportsbook.

If you use any of the MGM resorts, then you can link your account and claim up to 20% discount on room rates, food, and beverages. It’s also possible to transfer this across up to 12 resorts located on the Las Vegas strip that aren’t the MGM brand, which is a nice addition.

BetMGM rewards is the loyalty section and here you claim points as you bet. Again, this can be used within MGM resorts to get discounted products or can be exchanged for sports, casino, and poker bonuses to be used online.

How to Claim the BetMGM NJ Welcome Bonus

1. Create an account with BetMGM
2. Make a deposit of at least $20. There is no NJ sportsbook promo code for this offer
3. Place your first bet within the sportsbook and it if loses, then you will be refunded up to $1,000
4. Use the bet bonus on any sport within the sportsbook within 14 days.

One of the best things about the BetMGM welcome bonus is that it comes with very few notable T&Cs. The ones that you need to note are that this only works with deposits of $20+ and that the bonus will not be refunded with any winnings.

BetMGM NJ Sports Bonuses:

Pros & Cons:

2. FanDuel  – Second Chance Bet up to $1,000 / Best for Sport-Specific Promos and Horse Racing

Our FanDuel Bonuses Verdict (9.4 / 10)

FanDuel is currently running a “no sweat first bet” where if your first bet loses, they will refund the amount up to $1,000. This is one of the biggest offers of its kind and is very easy to claim with a minimum deposit amount of just $10.

The sportsbook ranks as one of the best when it comes to alternative promos as well. There are often daily promos, such as “Dinger Tuesdays” where you get a $5 bonus if you place an MLB bet on the “To hit a home run” market for every home run scored in the game.

The range of offers is extensive, to say the least, with most of the top US sports benefiting from promotions like the one above. More mainstream offers include profit boosts, bonus bets, same game parlays (selected games/markets), and a lucrative $75 refer-a-friend promo.

How to Claim the FanDuel NJ Welcome Bonus

The process of claiming the second chance bonus at FanDuel is very simple:

1. Open an account so long as you’re a NJ resident
2. Make your first deposit of $10 or more
3. Place a bet of $10 or more and if that bet loses, you will be refunded 100% in the form of a betting bonus within 72 hours

One of the best features about the FanDuel welcome offer is that it comes with no wagering. The bonus money will be credited to your account and you can then spend this how you wish across the betting site. The only thing you need to note is that you must use the bonus within 14 days.

FanDuel NJ Sports Bonuses:

Pros & Cons:

3. BetRivers  – $100 Second Chance Bonus  / A Massive Range of Existing Player Bonuses and All-Round Great Sportsbook

Our BetRivers Bonuses Verdict (9.3 / 10)

BetRivers stacked promotions section kicks off with a $100 second chance free bet. This promotion works by paying a bonus worth up to $100 if your first bet losses and is a 100% match. To trigger you need to deposit $10, but there is no minimum on the amount you stake for your bet, which is ideal for those who are betting a smaller amount and still want to claim.

To trigger the welcome bonus, use the exclusive New Jersey sportsbook promo code “SPORTS”. While this is a smaller offer than the likes of Caesars, the package that you get with BetRivers is almost unrivaled in terms of existing player promos.

One of the many highlights of the BetRivers sportsbook is the range of promotions that you can access for both new and existing players. Parlay insurance is one of the more popular offers and this will refund bets if one leg of a 4+ parlay losses to deny a payout. This can be accessed on a variety of sports such as MLB, NHL, golf, tennis, and football.

Other promotions include live matched bets on tennis, Bet & Get that rewards players for consistent betting over a period, and the VIP/rewards section where you can earn points as you bet and exchange them for bonuses, prizes, and rewards from the Bonus Store.

How to Claim the BetRivers NJ Welcome Bonus

Here is a quick summary of how to claim the BetRivers NJ welcome bonus works and the notable terms and conditions attached.

1. Click the “Join Now” button at the top of the page
2. Create an account following the process on screen
3. Head to the cashier and use the promo code “SPORTS” to trigger the bet bonus
4. Place your bet and if your bet losses, then you will be credited a 100% bonus bet to use across the sportsbook

The first deposit needs to be $10 or more, but all minimum bets will trigger the offer. Once the bet bonus has been credited then you need to place the bet at odds of -200 or longer. Any winnings from the bet will not include the original stake.

BetRivers NJ Sports Bonuses:

Pros & Cons:

4. DraftKings  – 20% Bonus up to $1,000 / Best for DFS Betting and Awesome Mobile Betting App

Our DraftKings Bonuses Verdict (9.3 / 10)

The welcome bonus at DraftKings is a 20% deposit match worth up to $1,000. It’s one of the few betting sites to offer this type of promotion for new accounts, which is one of the main reasons why it ranks as highly as it does.

One of the standout features of this offer is that it can be triggered from deposits of just $5, making it highly accessible for smaller bankrolls. Bonuses are credited in DK (DraftKings) Dollars and can be used throughout the sportsbook.

As an alternative, new accounts can claim a $150 betting bonus when placing a $5+ bet. This bonus is released as six $25 bonus bets, and each is valid for up to 7 days. Any winnings from these bets will not include the original stake.

How to Claim the [Brand] NJ Welcome Bonus

The $1,000 welcome offer can only be claimed by new accounts from residents within New Jersey. Follow the steps below to claim the offer.

1. Enter the NJ DraftKings betting site and register an account.
2. Make a deposit of $5 or more and 20% of that amount will be credited as DK Dollars
3. For every $25 wagered, the user will receive $1 in bonus cash. This equates to a rollover of 5x for the full bonus.
4. Qualifying bets must be placed at odds of -300 or higher.
5. The bonus will expire if not claimed after 90 days.

DraftKings NJ Sports Bonuses:

Pros & Cons:

5. Caesars  – Second Change Bonus up to $1,250 (Largest in Industry) / One of the Biggest Sports and Casino Brands in the World

Our Caesars Bonuses Verdict (9.3 / 10)

Caesars is currently running a second chance bet which is worth up to $1,250. It works by placing a bet of $10 or more and if that bet loses, you’re able to claim a 100% refund of up to $1,000 as well as 1,000 Reward Credits and 1,000 Tier Credits. To trigger this offer you need to use the NJ Sportsbook promo code “CZRFULL” when depositing.

Outside of the welcome bonus, promotions are limited on Caesars. However, this is one of the best promotions that you can claim for new accounts and is up there as the biggest second chance promotion for New Jersey bettors.

How to Claim the Caesars NJ Welcome Bonus

The welcome bonus is for new accounts only and players need to be aged 21+ to trigger the offer. Here’s a quick guide on how to claim along with any major T&Cs.

1. Open the Caesars sportsbook and click on the “Get Started” button
2. Enter your personal details and create an account
3. Once the account has been set up, head to the cashier and use the NJ sportsbook promo code “CZRFULL” to claim the welcome bonus
4. Place a first bet of $10 or more. If the bet wins, you keep your winnings, and no bonus is applied. If it loses the bonus will be applied to your account.

If you do trigger the welcome offer, then you will get 7 days to place a bet that must be of the full amount of the bonus before it expires. One of the highlights of the offer is that there is no wagering for the bonus, but you will not get the stake returned for any winnings from the bet.

Caesars NJ Sports Bonuses:

Pros & Cons:

6. Bet365 – Bet $1, Get a $200 Bet Bonus / Huge Range of Sports and Markets as well as Up to 70% Multi-Sport Parlay Bonus

Our bet365 Bonuses Verdict (9.2 / 10)

In terms of a straight-up welcome bonus, bet365 has one of the best in the business. It comes in the form of a $200 bonus, and all you need to do is place a bet of $1 to claim it. Once you’ve done this, the $200 is added to your account to use within the sportsbook.

Aside from the welcome bonus, bet365 is best known for its early payout offers. This works by placing straight bets on baseball, basketball, hockey, and several other sports that will pay as wins when your pick leads by a certain number of goals or points, regardless of the result.

They also include a multi-sport parlay bonus which can pay up to 70% extra for parlay bets. A 2-leg parlay will come with a 5% bonus attached and then it increases with each selection up to 14+ parlays that come with a staggering 70% bonus.

Finally, similar to the likes of DraftKings, you can get a range of bet boosts that are applied to multiple games per day within the sportsbook.

How to Claim the bet365 NJ Welcome Bonus

The guide below highlights how to claim the bet365 NJ welcome bonus.

1. Open the bet365 sportsbook and click on the yellow “Join” button.
2. Fill out the forms to open your account.
3. Head to the cashier and make a deposit of at least $10 to qualify for the welcome bonus.
4. Place a bet at odds of -500 or greater to trigger the $200 bonus.

The key terms of the bonus are that the minimum odds need to be at -500 or longer and you need to deposit within 7 days before claiming the bonus within 30 days. All bets are paid as non-stake returned, which means you keep the profit and not the stake from the bet bonus.

Bet365 NJ Sports Bonuses:

Pros & Cons:

7. Tipico – Choice of Welcome Offers: Either a Deposit $50, Get $150 Bonus or 100% Deposit Match up to $250

Our Tipico Bonuses Verdict (9.0 / 10)

Tipico is unique in that it offers two welcome bonuses to choose from. The first is a $150 bet bonus which is triggered with a $50 deposit. This is likely best for smaller bankrolls that don’t want to deposit large sums.

The second is a 100% match on your first deposit worth up to $250. With this, we feel that it’s better for those who can claim the full bonus as it means you can get an extra $100 bonus compared with the first, adding value.

What’s great about the two is that it offers variety, which few of the other New Jersey sportsbook promos do. The only downside is that it’s limited in terms of other promotions on-site, for example, existing player bonuses and odds boosts.

How to Claim the Tipico NJ Welcome Bonus

Here’s how to claim the Tipico NJ welcome bonus:

1. Enter the Tipico sportsbook and click on the “Bet Now” button. This will start the registration process.
2. Enter your personal information to create your account. This should take just a couple of minutes.
3. Head to the cashier once logged in and make your deposit. At this point, you can choose which bonus you want to claim.
4. Use the sportsbook and your betting bonus to place bets.

The deposit $50 and get $150 bonus is released in 5 x $30 increments within 12 hours of setting up your account. Each bet credit must be used within 7 days and any winnings using these credits will not include the original stake. There are no turnover requirements.

The 100% match up to $250 is applied as a lump sum and must be wagered three times before you can withdraw. Qualifying bets are at odds of -200 or longer and you have 30 days before the bonus expires.

Tipico NJ Sports Bonuses:

Pros & Cons:

8. SuperBook – 100% First Bet Bonus up to $250

Our SuperBook Bonuses Verdict (8.9 / 10)

New accounts to SuperBook are eligible to claim a welcome bonus worth up to $250. The bonus is applied based on the size of the first bet you make, which is a 100% match. It’s worth noting that, unlike a risk-free bet, this bonus will be applied regardless of if your bet wins or loses.

Once the bonus has been triggered, it then takes 25% of each wager from your bonus balance until it’s been exhausted. You need to contact customer services to get a promo code before you claim this offer.

SuperBook run multiple additional bonuses to this, including a $50 refer-a-friend bonus, where you can get $50 for each player that signs up. You can find your unique bonus code and link for this once your account has been created within the “My Profile” section.

How to Claim the SuperBook NJ Welcome Bonus

Here is a guide on how to claim one of the best New Jersey sportsbook promos:

1. Enter the SuperBook sportsbook and click on the “Join Now” button at the top of the page.
2. Create an account by using the registration forms and then confirm by the email that will be sent to you.
3. Once your account is set up, contact customer support to get a bonus code to claim the welcome offer.
4. Make your first deposit and place your first bet to trigger the bonus. Don’t forget, the amount of bonus that you can claim is based on the amount of your first deposit.

To claim the bonus players, need to be aged 21+ and must place a qualifying bet at odds of -200 or longer. If you don’t meet the minimum odds, then your account won’t be eligible to claim this offer. 25% of each bet you place will be bonus funds. For example, if you place a $100 wager, $25 of it will be a bonus and $75 will be from your player’s balance.

SuperBook NJ Sports Bonuses:

Pros & Cons:

Why Use NJ Sportsbook Promo Codes?

Promo codes are linked to online betting bonuses and are required to trigger some offers. It’s worth noting that not all bonuses have promo codes attached, and we’ve outlined the ones that do and don’t in the table earlier in this article.

A promo code is a word, number, or both mixed randomly that tells the betting site which offer you want to claim. Most of them will be attached to unique betting offers and at Techopedia we’ve been able to attain codes and bonuses that are exclusive to our readers.

We’re big advocates of taking welcome offers when signing up for a new account as it means you can get free money, essentially. NJ sportsbook promo codes are linked to most of the offers we’ve mentioned on this page, and you need to make sure that you include the correct welcome offer to indicate to the betting site that this is the promo you want to claim.

When Can you use Promo Codes?

NJ sportsbook promos can be used for welcome bonuses and existing player offers. You need to enter them either as you’re creating your account or when you make your first deposit.

Most sites will include an NJ sportsbook promo code box where you enter the code. It’s worth noting that a lot of the codes are case-sensitive, so bear this in mind when copying across.

Can you Claim Multiple Sportsbook Bonuses/Promos?

When it comes to welcome offers, you’re only going to be able to claim one NJ sportsbook promotions or bonus. Some sites may also limit the number of times that a single house or address can claim an offer.

For example, if you claim a bonus, then someone else living in your house will not be able to claim the same offer. There are caveats to this such as if you house share or live in the same apartment block. If you can prove that there are no ties to other accounts within the same building, it’s generally OK for both players to claim.

The number of times you can claim existing bonuses is different. With these, you can often claim more than once, especially when it comes to reload bonuses. In fact, some sportsbooks allow unlimited claims of reload bonuses, which adds huge value for most bettors.

How to Claim an NJ Sportsbook Bonus

In this section, we’re going to walk you through how to claim an NJ sportsbook promo with our top-rated sportsbook, DraftKings. If you decide to use one of our other top-rated betting sites, then the process will be similar, but it may differ slightly.

1.   Enter the DraftKings Sportsbook

Once you land on the DraftKings sportsbook, click on the Log In or Sign Up button on the page. This will prompt the start of your account registration.

2.   Complete the Registration form and Use NJ Sportsbook Promo Code

With DraftKings, you will need to enter your New Jersey sportsbook promo code on the first page of registration. Along with this add in your email address, username, password, and phone number. Confirm these details and jump to the next screen to enter the rest of your personal information.

3.   Make the First Deposit

Now that your account is set up (you should have a confirmation email) you need to log in and head to the cashier section. Once here, use the deposit method of choice and confirm your information.

4.   Place Your First Bet

Once the account is funded, you can head back to the sportsbook to place your first bet. Navigate through the sports and markets once there and click on the odds for the market to add to the bet slip. Use the bet slip to enter your stake and confirm your bet.

Types of NJ Sports Bonuses Available

Deposit Match Bonus

A deposit match bonus is an offer where the sportsbook matches a portion or the entirety of a player’s deposit, giving them additional funds to play with. For example, a 100% deposit match bonus up to $200 means the player gets an extra $200 if they deposit $200.

Second Chance Bets

A second chance bet is a promotional offer in which a sportsbook refunds a portion or the entirety of a lost bet as a bonus or free bet. For example, if a player loses a $50 bet and the platform offers a second chance bet, they may receive a $50 bonus to place another bet.

No Sweat First Bet / First Bet Insurance / Refunds

A no-sweat first bet (also known as first bet insurance or refunds) is where a sportsbook refunds the full amount of a player’s first bet if it loses. It provides a risk-free opportunity to wager without the fear of losing money. For instance, if a player places a $50 bet and it loses, the platform will reimburse them with $50 as a free bet.

Reload Bonuses

Reload bonuses are promotions that reward existing customers for making subsequent deposits on a gambling platform. It typically involves the platform matching a certain percentage of the deposit amount. For example, a 50% reload bonus of up to $100 means that if a player deposits $200, they will receive an additional $100 as a bonus.

Game/Event Specific Bonuses

Game or event-specific bonuses are promotions that are specific to a dedicated game or event. For example, this might be a second chance bet when you wager on the Super Bowl or a 100% deposit match bonus when you bet on any March Madness market.

Site Credits

Site credits are promotional funds given by a gambling platform that can be used for placing bets. They are not withdrawable as cash but can be used to wager on various sports events. For example, if a player receives $50 in site credits, they can use it to place bets without risking their own money.

Parlay Insurance

Parlay insurance provides a refund or bonus if one leg of a parlay bet loses. It acts as a form of protection against losing the entire bet. For example, if a player places a parlay bet with five selections and one of them loses, parlay insurance may refund their stake or provide a bonus as compensation.

Odds Boosts / Parlay Boosts

Odds boost is a promotional feature in sports betting where a sportsbook increases the odds on a specific market or event, offering higher potential winnings to the bettor. For example, if the original odds for a team to win are 2.00, an odds boost may increase it to 2.50, providing the bettor with a higher payout if the bet is successful. The maximum that you can wager on these markets is usually capped but still can provide huge value.

Referral Bonuses

A referral bonus is a promotion offered by sportsbooks to existing users who refer new customers to the platform. When a referred person signs up and meets certain criteria, both the referrer and the referred person receive a bonus. For example, if a player refers a friend who makes a qualifying deposit, both the referrer and the friend may receive a bonus, such as free bets or additional funds.

Loyalty Rewards

Loyalty rewards, such as VIP sections, are benefits and perks provided by businesses to customers who consistently engage with their products or services. In the context of gambling or online casinos, loyalty rewards are often offered to high-rollers or frequent players. These rewards can include exclusive access to VIP sections, personalized customer support, higher betting limits, cashback programs, special bonuses, and invitations to exclusive events.

Reduced Juice Bets

Reduced juice bets, also known as “juice discounts,” are a type of promotional offer in sports betting where the bookmaker reduces the vigorish, or commission charged on certain wagers. This means bettors can place bets with lower fees, resulting in higher potential returns. For example, instead of the standard -110 odds, a reduced juice bet might offer -105 odds, giving bettors better value for their wagers.

NJ Sportsbook Promos Terms and Conditions

This section looks at a range of New Jersey sportsbook promos terms and conditions, along with what they mean and how they work. It’s important that you understand the ins and outs of each bonus/promotion before you claim, which the information below will help with.

1. Number of Deposits

Some promotions may require a specific number of deposits to qualify. For example, a bonus might be available only on the first deposit, while others could extend the offer to multiple deposits, such as the first three deposits made by a player.

2. Promo Codes

Certain promotions require the use of NJ promo codes during the deposit or registration process to activate the offer. For example, entering a specific code like “SPORTS100” could provide a 100% deposit match bonus.

3. Rollovers/Wager Requirements

Promotions often have rollover or wagering requirements, which specify the number of times the bonus funds or winnings must be wagered before they can be withdrawn. For instance, a 5x wagering requirement on a $100 bonus would require $500 in total wagers before a withdrawal is permitted.

4. Min/Max Deposit

Promotions may specify minimum and maximum deposit amounts to qualify for the offer. For instance, a promotion might require a minimum deposit of $50 and cap the bonus amount at $500 for deposits exceeding $1,000.

5. Eligible Sports/Bets (min bet/eligible odds)

Some promotions may restrict the eligible sports or bet types that qualify for the offer. For example, a promotion might require a minimum bet of $10 on NFL games with odds of -200 or higher.

6. Expiry Date

Promotions have expiration dates, after which they become invalid. It is important to review the terms and conditions to determine the timeframe within which the promotion must be claimed or utilized.

7. Age Limit and Geolocation

Bonuses are typically available only to individuals of legal gambling age and located within the eligible jurisdiction. For example, users in New Jersey need to be aged 21 or above and physically present in the state of New Jersey.

8. Payment Method Restrictions

Certain payment methods may be restricted from qualifying for the offer. For instance, deposits made using Skrill or Neteller might be ineligible for a specific promotion.

Features of a Good NJ Sportsbook Offer

Promotions and bonuses come in a variety of shapes and sizes. In this section, we’ve included a range of features that you need to look out for and avoid sifting the good from the bad.

Mistakes to Avoid when Claiming a Bonus

It’s no secret that claiming a bonus of any kind from a sportsbook might not be as straightforward as the initial advert may suggest. It comes with a lot of hoops that need to be jumped through to successfully claim.

In this section, we’ve included some of the most common mistakes that we see when people fail to properly claim or clear New Jersey sportsbook promotions.

Here are five mistakes to avoid when claiming a bonus from a sportsbook:

1. Not Reading the Terms and Conditions – Failing to carefully read and understand the terms and conditions of the bonus can lead to misunderstandings and unexpected limitations. Make sure to review the requirements, wagering conditions, expiry dates, and any restrictions before claiming the bonus.
2. Ignoring Rollover/Wagering Requirements – Rollover or wagering requirements specify the number of times you need to wager the bonus funds before being eligible for withdrawal. Neglecting to consider these requirements can result in difficulties when trying to cash out your winnings. Be aware of the specific wagering obligations and plan your bets accordingly.
3. Missing the New Jersey Sportsbook Promo Code – Some bonuses require specific action steps or the use of promo codes during the registration or deposit process. Forgetting to activate the bonus or enter the required code could mean missing out on the promotion altogether.
4. Depositing Less Than the Minimum Amount – Most bonuses have a minimum deposit requirement to qualify. Depositing an amount below the specified minimum could result in the bonus not being credited to your account. Verify the minimum deposit amount and ensure you meet the criteria before making a deposit to claim the bonus.
5. Overlooking Expiry Dates – Bonuses typically have an expiration date within which they must be used or wagering requirements must be fulfilled. Failing to utilize the bonus or meet the requirements within the specified timeframe could result in the bonus becoming void.

Types of Payment Methods

When it comes to sportsbook promos in NJ, having a variety of reliable and convenient payment methods is crucial for a seamless wagering experience. From depositing funds to withdrawing winnings, the availability and suitability of payment options play a significant role.

In this section, we will explore the different types of payment methods commonly used in NJ sportsbook bonuses, including traditional methods like bank cards and bank transfers, as well as emerging digital options such as e-wallets and cryptocurrency.

• Bank Cards: Most used and includes the likes of credit and debit cards, such as Mastercard, Visa, and American Express.
• Wire Transfer: Wire transfer allow a direct transfer from the bank account to your betting account.
• E-Wallets: Electronic Wallets (e-Wallets) include the likes of Neteller and Skrill and remove the need to use bank accounts directly with the betting site.
• Prepaid Cards: Prepaid cards can be loaded at a variety of shops and then used to fund betting accounts.
• Casino Cage Cashier: Sportsbooks that are linked to land-based casinos will allow you to fund your online account at the casino cage with cash or a card.
• Online Banking: Online banking allows users to transfer money from their bank account to the betting site.

Are there Taxes on Bonuses?

In the state of New Jersey, the taxation of sports betting bonuses can be a complex matter. Generally, any winnings obtained from gambling, including sports betting, are considered taxable income by the Internal Revenue Service (IRS). However, the specific taxation of sports betting bonuses in New Jersey depends on various factors, including the amount won and the individual’s overall gambling activity.

Under federal tax regulations, gambling winnings must be reported as “Other Income” on Form 1040. The IRS requires taxpayers to report all gambling winnings, regardless of the source, including sports betting bonuses. However, it’s important to note that gambling losses can also be deducted, but only up to the number of reported gambling winnings.

On the state level, New Jersey imposes a gross revenue tax on licensed sportsbooks and casinos. This tax is paid by the operators rather than individual bettors. As a result, New Jersey residents are generally not required to pay state taxes on sports betting winnings or bonuses directly.

The Best NJ Sportsbook Promo

DraftKings has the best NJ sports betting promotions to claim for both new and existing accounts. Not only is the sportsbook one of the best when it comes to betting lines, but it also has a raft of features that includes huge sports coverage, sports-specific bonuses, same-game parlays, and a brilliant mobile betting app.

The welcome offer comes in the form of a 20% match on opening despots of just $5 or more worth up to $1,000. It has a 5x wagering requirement, which is about as low as you will find. Alternatively, new players can claim a $150 bonus when they deposit and place a first bet of $5.

FAQs