Caesars Bonus Balance Guide: How to Cash Out & Earn More

Whether you’re trying to do a Caesars Sportsbook bonus balance cash out, learn how to bolster your Caesars bonus balance, or both, we’ve got you covered. There’s a reason Caesars Rewards is the most popular loyalty program in the US, and players can earn points and bonuses playing at both Caesars Casino Michigan as well as Caesars Sportsbook Michigan. But before we get into it, let’s make sure we cover the basics:

How to Join Caesars Rewards

If you’re new to Caesars Rewards, the easiest way to start earning bonuses and points is by joining the online version of the casino and sportsbook:

  • For casino players, claim the Caesars Casino Michigan promo code for a 100% deposit-match bonus up to $2,000. That’s like doubling your money before you even start playing the games, which include hundreds of slots, progressive jackpots, table games, Live Dealer games, and more.
  • For sports bettors, claim the Caesars Sportsbook Michigan promo code for up to $1,250 in bonus money, plus 1,000 Tier Credits and 1,000 Reward Credits. Yep, that means you can get a headstart on the Caesars Rewards program the moment you sign up for a new account.

Keep in mind that you can only claim one of the Caesars Michigan promo codes.

Caesars Sportsbook Bonus Balance Cash Out

With that out of the way, there are many opportunities for you to convert your Caesars bonus balance to cash.

That’s because, on Caesars Sportsbook, you’re able to use almost all Free Bets on any wager you’d like. While you can’t withdraw a bonus balance made up of Free Bets directly, they’re only required to be played through once before you can withdraw winnings. 

That means, if you receive a $20 Free Bet, you only need to play that $20 once before you’re able to withdraw. For example, if you bet your $20 free bet on odds +100 and win, you win $20, which can be withdrawn.

Keep in mind that sports betting wins on free bets at all online sportsbooks are winnings-only, not total payout. So you technically lose the free bet no matter what and keep the winnings.

Caesars Casino Bonus Balance Cash Out

For Michigan online casino players, converting your Caesars bonus balance to cash is a bit more complicated. The bottom line is that the best way to do so is by playing slots. Each type of game has different wagering requirements to convert your bonus, which we’ve listed out below:

The good news is that, unlike sportsbook free bets, bonus money is treated like cash. So, for example, if you bet $10 on blackjack and win $10, you get $20 in total, not just the winnings.

How To Withdraw

Once you’ve converted your Caesars bonus balance to cash, there are many withdrawal options available to you:

  • Online Banking (via PayWithMyBank) – direct to your bank account
  • eCheck by VIP Preferred – direct to your bank account
  • PayPal
  • Caesars Sportsbook Prepaid Play+ Card
  • Cash withdrawals can also be made at a retail location sportsbook window

With these options, it’s easy to complete a Caesars Sportsbook bonus balance cash out, whether you want your money directly to your bank account or whether you want to use a newer method, such as PayPal.

Caesars Bonus Balance Opportunities

Now that we’ve gone over how to cash out a bonus balance at Caesars, let’s talk about how to grow that bonus balance:

Promotions

Both Caesars Casino Michigan and Caesars Sportsbook Michigan are always running rewarding promotions, which can be found simply by clicking the Promotions tab at the top of their website. For example, as of November 2022, you can take advantage of the following:

  • All-Sport Parlay Insurance: Place a 4+ leg parlay and you’ll get a free bet of up to $25 if one of the legs doesn’t hit.
  • Slot Emperor Collectible Coins: While this doesn’t go into your Caesars Bonus Balance, it does give you the opportunity to win an exclusive Caesars collectible coin by playing slots.
  • 10% Casino Bonus Match: Deposit up to $100 for an instant 10% deposit match. This bonus balance can be used on any of your favorite casino games.
  • Daily Slots Return Rewards: All month, players have the opportunity to earn up to a $120 slot bonus each day by earning Tier Credits.

While these are the current promotions on offer to help boost your Caesars Bonus Balance, there are always more options being added, so make sure to keep an eye on their Promotions page.

About the Author

Craig Corbeels

Craig Corbeels has been involved in the online gambling industry since its North American infancy with New Jersey's regulation of online casinos in 2013. With his 9 years of experience in the industry, Craig's focus is now sharing that knowledge with the players. He began his online gambling career writing for various online casinos throughout New Jersey, and more recently wrote for online casino and sportsbook ventures throughout North America including Ontario, New York, Arizona, and more. From the latest news to insider tips and gambling advice, you're sure to be able to find the information you're looking for in his articles. Keeping an eye on the latest offerings and an ear to the streets, Craig will bring everything you need to know directly to your screen, no digging or searching around necessary. If you're looking for the best place for online gambling information, there's no need to look any further.