Elite Sportsbook Promo Code - How to Claim the $500 Bonus in 2025

Elite Sportsbook is a licensed sports betting provider operating in Iowa and Colorado. The sportsbook’s parent company, Elite Casino Resorts LLC, is native to Iowa, where it first began operations in August 2019.

Elite Sportsbook extended its services to Colorado in 2020 thanks to its partnership with a retail sportsbook at Red Dolly Casino in Black Hawk.

There is a welcome bonus for all new players at Elite Sportsbook, although the amount varies based on where you’re located. We explore this below.

In Iowa, the Elite Sportsbook first bet offer is up to $500.

This offer is subject to the following promotional terms:

• Offer valid only for new customers in Iowa.
• Customers must sign up and place a real money wager with Elite Sportsbook. The minimum wager is $10.
• If the first real money wager loses, customers will receive a free bet equal to their loss of up to $500.
• Only the first real money wager is matched in case of a loss.
• The free bet can only be used on straight wagers, progressive parlays, and teasers.
• The maximum odds allowed for free bets are +300.
• Free bets expire after 7 days of being issued.
• The free bet cannot be partially redeemed.

New Iowa users can claim the Elite Sportsbook sign up bonus quickly and easily after signing up. Here’s a step-by-step guide to creating an account and claiming the Elite Sportsbook new user bonus.

Step #1. Visit Elitesportsbook.com

Visit the Elite Sportsbook page and select “Join Now.” You may need to turn on location services to verify you’re within state lines.

Step #2. Enter the Club Card Number

All Iowa players must enter the Club Card number and PIN before creating an Elite Sportsbook account. You’ll need to visit one of the operator’s retail sportsbooks to obtain these credentials. Colorado players can skip this step.

Step #3. Complete the Full KYC Process

Complete the Know Your Customer (KYC) process by verifying your name, age, address, and the last four digits of your social security number.

Step #4. Answer Security Questions

You must select and answer two security questions to keep your account safe. You’ll also need to confirm you are at least 21 years old to complete the sign-up process.

Step #5. Fund Your Account

On the sportsbook’s homepage, click the “Deposit” tab and choose the “Play+” icon. Enter the amount you want to deposit (min. $10) and click “Continue” to process the deposit. At the time of this writing, there is no Elite Sportsbook promo code to enter.

Step #6. Place Your First Real Money Wager

To qualify for the free bet, place a real money wager within 24 hours of creating an account. If the first real money wager wins, you’ll receive the payout and nothing more happens.

If your first real money wager losses, you will receive a free bet equal to your loss. The free bet bonus is credited to your account immediately after your first real money wager is settled.

You don’t need to be a rocket scientist to use sportsbook bonuses successfully. But you do need the right strategies to improve your chances of making a profit.

Below are five tips used by the pros to make the most of Elite Sportsbook bonuses.

Tip 1. Keep Your Bankroll in Order

Creating and managing your bankroll is one of the most critical aspects of sports betting. The goal of bankroll management is to make sure you don’t spend more than you should. Set a maximum bet size and stick to it no matter how good you think your chances are.

For example, if your sports betting bankroll is $500, your average single bet should be around 5% of the total roll. It’s better to place several small bets than to risk it all at once.

Tip 2. Know Your Applicable Wagers

Elite Sportsbook has a variety of sports wagers to fill your bet slip. There are point spreads, moneylines, totals, game props, player props, and more. You can visit the sportsbook’s “House Rules” page to view all the available wagers.

It’s important to know which wagers apply to your bonuses. Elite Sportsbook’s free bets can be used only on straight wagers, progressive parlays, and teasers.

Tip 3. Keep Yourself in the Loop

Staying up to date with new tactics is a must if you intended to make a reasonable profit from the Elite Sportsbook bonus.

This means going beyond the basic fundamentals of sports betting. Read the latest sports news, study players, and learn the tactics the pros are using to earn the most money.

Professional sports bettors value every piece of information. You too should. Once this is mastered, it will become much easier to bet on sports with real cash or bonus funds.

Tip 4. Bet on Sports That You’re Familiar With

Betting on sports that you know well is a very good idea, especially when using bonus funds. By doing so, you increase your chances of making good betting decisions.

Tip 5. Stay Disciplined

It’s easy for emotions to get in your way when betting. This is especially true if you’re a new sports bettor. You’ll always feel the urge to bet on your favorite team even when it’s a clear underdog.

It’s important to know that the bookmakers’ odds are there for a reason. The people who come up with these odds make their decisions without emotional strings. You too should do the same and place a bet that makes sense from a statistical viewpoint.

Elite Sportsbook is currently legal in the states of Colorado and Iowa. Users in these states can claim an Elite Sportsbook promo if they’re over 21.

In the state of Iowa, Elite Sportsbook features three retail establishments where customers can visit and play in person:

• Riverside Casino & Golf Resort in Riverside
• Rhythm City Casino Resort in Quad Cities, Davenport
• Grand Falls Casino & Golf Resort in Larchwood

Elite Sportsbook also partners with the Red Dolly Casino in Black Hawk, Colorado. With online sports wagering becoming more popular in the US, we expect Elite Sportsbook to launch in other states in the future.

There are several ongoing Elite Sportsbook promotions that are open to all players. Worth noting is that the sportsbook’s bonuses for existing customers often change on a weekly or monthly basis.

The most popular offers on the Elite Sportsbook betting website are shown along the top of the homepage, ensuring no one misses out on a promotion.

You can also view the full list of the sportsbook’s current offers at any given time. To do so, click on the “promotions” tab in the navigation bar. All the available offers will appear here.

Elite Sportsbook CO Sign-Up Bonus – 100% Match Bet up to $100 Free Bet

Elite Sportsbook’s welcome bonus for new Colorado players is a free bet equal to 100% of the first real money wager up to a maximum of $100.

To qualify for this free bet, you must sign up for a new Elite Sportsbook account, deposit funds, and place a real money wager. You will then receive a free bet equal to 100% of your stake. The maximum free bet amount is capped at $100.

Does Elite Sportsbook Have Bonuses For Existing Customers?

Players that have been loyal to the Elite Sportsbook receive exclusive offers regularly. Some of the best ones we came across include:

Progressive Parlay

Place a minimum four-leg parlay bet on football or basketball spread bets. You’ll still receive winnings even if one leg loses.

Early Cash Out

Claim your winnings early depending on the status of your bet. You can use this feature if your wagers are doing great and you don’t want to take risks.

Elite Sportsbook allows online withdrawals via Play+ only. A Play+ card typically completes withdrawal requests within 72 hours and can be used anywhere Discover is accepted.

You can also visit Elite Sportsbook’s land-based partner to withdraw funds in person. Visiting a casino reduces withdrawal processing time from 3 days to a matter of minutes.

To be honest, Elite Sportsbook’s welcome bonus isn’t the best offer in Iowa. There are many other bookies that offer a much better deal than this.

However, as far as new sportsbooks go, Elite’s welcome bonus is among the best. In an ideal world, you’d place a $500 wager on a bit of a long-shot without worrying about losing it.

Besides, Elite runs various promotions on an ongoing basis. Overall, Elite Sportsbook bonuses are quite promising but more is needed to edge up to the competition.