BetRivers NY Introduces Madness Parlay Insurance Offer

With the first and second rounds of games almost in the books, the NCAA's March Madness tournaments are off to a great start with some key upsets already recorded. That bodes well for New York sports bettors who are looking forward to some really good betting action. As BetRivers is always willing to do, the operator has posted a bonus promotion that focuses on tournament games. The operator's "Madness Parlay Insurance" Offer is underway, and here are some of the terms and conditions for the benefit of prospective participants.

The BetRivers Madness Parlay Insurance Offer hit the operator's bonus menu with the start of March Madness on March 16, 2023. It will be available to sports bettors until the tournament reaches the Final Four, which takes place on March 26, 2023. During the entire promo period, BetRivers will not require customers to go through an opt-in procedure. What the operator will require is that participants place a qualifying bet. Customers can place one qualifying bet each day of the tournament with the first qualifying bet being the bet that counts towards the offer. Only customers with a "loyalty level" of six (6) or lower can participate.

As defined in the terms and conditions, a qualifying bet is a 4+ leg NCAA Men’s Basketball Tournament parlay with a minimum possible payout of +100. The bet must be for a minimum of $1. If qualifying bets lose by exactly one (1) leg only, BetRivers will pay the losing bettors an insurance rebate at 100% of the value of the qualifying losing bet up to a maximum bonus of $25.

When the bonuses are issued, they will be allocated in the form of free bet vouchers. Said vouchers shall be posted within 72 hours of a losing qualifying bet settling. From the point of allocation, BetRivers will give bonus recipients seven (7) days to use their free bets. Free bets not used within the time limit will expire with no value. Free bets that are used within the time limit on a winning sports wager will be paid as cash into bonus recipient accounts. Only the net winnings will be converted to cash that can be withdrawn at the bonus recipient's discretion.

During the promo period, BetRivers can choose to stop the promo or change the terms and conditions at any time and for any reason. They will also serve as the final word on bonus disputes.