You can now use the bet365 bonus code SHNEWS for a choice between a $1,000 first bet insurance or a Bet $5, Get $150 offer.

These two introductory promos are available for new customers across the following 10 sports betting states: Arizona, Colorado, Iowa, Indiana, Kentucky, Louisiana, New Jersey, North Carolina, Ohio and Virginia.

The safety net is a first bet insurance type of offer that covers your first bet in case it doesn’t go your way. Meanwhile, if your first bet wins, it’s treated like any other winning bet providing cash profit and returning your stake.

For example, let’s use a Monday MLB matchup between the New York Mets and Washington Nationals. Imagine I placed $100 on the Mets to cover -1.5 (+145).

If I win, I now have $245 in my account from the $145 in winnings and my $100 stake returned. This $245 can be spread across other bets on the bet365 mobile app, one of the top sports betting apps or withdrawn.

Alternatively, if the bet loses, my cash stake is reimbursed with $100 in bonus bets within an hour of bet settlement. These bonus bets can fund wagers within bet365 and are treated like currency within the app, meaning the bonus bets can be spread across multiple bets.

You’ll have seven days to use them for a chance to profit cash if you win. No matter how a bonus bet wager settles, the stake always goes to the house since you can only play the bonus bets once.

The alternate bet365 offer works differently and can be a good option if you are looking for a low upfront cost from a welcome promo. This offer actually earns the $150 in bonus bets no matter how your first bet settles.

You’ll need a new account, a minimum $10 deposit and $5 on -500 or greater odds to qualify.

This means odds such as the Mets moneyline -115 are fine and fall within the odds requirement while giving you a good shot to win your first bet and the bonus bets. However, no matter how the bet settles, the bonus bets hit your account within an hour of bet settlement.

Just like the safety net, the bonus bets are funds to use within the bet365 platform for seven days and can potentially profit cash if a bonus bet wager hits. You can split up the bonus bets such as 10 bets of $15 or all $150 on one wager, it’s entirely up to you.

21+. Gambling Problem? Call or text 1-800-GAMBLER. Deposit required. Bonus Bets winnings are added to Bonus Bets balance. Bonus Bet wager excluded from returns. T&Cs, time limits and exclusions apply.