Robinhood Promo Code: Get up to a $200 Bonus in April 2025

All Robinhood promo offers

Robinhood doesn’t have as many promotions as we’re used to seeing on traditional sports betting sites. Only two standard promos are currently available, neither designed for its sports prediction markets.

Robinhood sign up bonus

​Robinhood offers new users a sign-up bonus in the form of a free stock valued between $5 and $200 upon account approval and linking a bank account or debit card. Most users receive a $5 stock, with 0.9% getting $10 and 0.1% receiving $200.

You don’t need to claim the reward immediately, but if you don’t do it within 60 days of opening an account, it will expire. You can sell your awarded stock only three days after claiming, while you can only withdraw the proceeds from the stock after it has been in your account for at least 30 days. 

Is there a Robinhood bonus for existing users?

Existing users at Robinhood can benefit from the referral bonus. By generating and sending an invitation link to another person, you and the person you refer will be eligible for another stock gift worth between $5 and $200. While there’s no limit to how many people you can invite, you can only receive up to $1,500 in stocks per year this way.

Robinhood bonus comparison

Robinhood doesn't offer sport-specific bonuses. While new users can sign up and gain access to a free stock, they won't get any free cash or bonus bets to use to buy a sports contract. Therefore, it would feel inaccurate to say that those looking to buy contracts for sporting events have access to any type of bonus at Robinhood. 

Below, find a list of sports prediction betting sites that offer something similar like the crypto.com promo code.

More online Robinhood promos

While no specific sports prediction promotions are available at Robinhood, there are ways to gain extra stock while exploring other options on the platform.

• Sign-up offer: Register an account and pick your gift stock from a list of American companies valued between $5 and $200, although most users get $5. You can sell your gift stock three trading days after claiming it, then withdraw the proceeds after a 30-day window.
• Referral offer: For every person you invite to join Robinhood, both of you will receive a gift stock. Go to Earn Stock (app) or Rewards (web) and select Share Link. Like with the sign-up bonus, your prize will be worth between $5 and $200. The stock reward limit through the referral program is $1,500 a year.

Robinhood promo code terms and conditions

Robinhood doesn’t run any promotions for sports traders at the moment. Because the platform doesn’t function in a traditional fashion like one of the best sportsbooks, you won't find typical deposit match bonuses, bonus bets, cashback opportunities, or any of the other best sportsbook promos.

How to enter the Robinhood promo code

Here’s how to set up an account at Robinhood in a few easy steps:

1. Go to the Robinhood website or download and open the Robinhood mobile app.
2. Create login credentials by typing in your email and coming up with a password (at least 10 characters).
3. Share personal information, including your name, phone number, address, Social Security Number, and date of birth. You must be at least 18 years old and a resident of the United States.
4. Link a payment method, such as your debit card or bank account.
5. Before finishing, you’ll be asked to complete a questionnaire about your investing experience, employment, and some insider trading-related inquiries.
6. Your application will be put under review. Once approved, you will receive a confirmation email. Follow the link in the email, and your account will be up and running.

Is Robinhood legal?

Robinhood is certified by the Commodity Futures Trading Commission (CFTC) and is legal in all 50 US states. Moreover, the platform is regulated by the Securities and Exchange Commission (SEC) and is a member of the Securities Investor Protection Corporation (SIPC) and the Financial Industry Regulatory Authority (FINRA).

While it added sports predictions only recently, Robinhood has been in the trading game since 2014 and enjoys a good track record. As of August 2024, the company has over 24.3 million funded account holders.

Users must be at least 18 and provide proof of US citizenship. Being legal across the country enables Robinhood to offer sports predictions to residents of states where online sports betting isn’t permitted. However, the future of its sports prediction service is up in the air, considering the legal challenges it faces from various state regulators.

Robinhood review

The Robinhood website and app prioritize an intuitive, beginner-friendly design that aims to make the platform feel welcoming to traders of all experience levels. Users can enjoy an easy onboarding process, assisted by clear and concise language and extra educational resources for learning about investing.

The website and app design maintain a cohesive aesthetic, contributing to the overall sense of simplicity and clarity. The app is well-regarded by users, boasting a 4.2-star rating in both the App Store and Google Play.

Robinhood’s event-based market options for sporting events currently only include collegiate basketball, specifically the Men’s and Women’s NCAA March Madness tournaments. It is unknown if the platform will add any other sports in the future.

Instead of betting on various markets like with traditional sportsbooks, you trade contracts with other users based on game outcomes. For instance, you can buy contracts for Duke to win a game against Florida for $0.60. If the prediction is correct, you will win $1.00 ($0.60 back plus a $0.40 profit) per contract.

At Robinhood, there are no commissions or account minimums. But for a $50 annual fee (including a 30-day free trial), you can sign up for Robinhood Gold and enjoy premium features like bigger instant deposits, access to professional research, Level II market data, and more.

Payments can be initiated via ACH, instant bank transfers, and debit cards, with the latter two options incurring a 1.75% withdrawal fee.

Clicking Support from the main menu will lead to a comprehensive help section with hundreds of detailed articles covering everything from setting up an account to using the platform’s advanced features. If you don’t find your answers there, you can reach the support directly by phone, email, or live chat, which is available between 7 a.m. and 9 p.m. ET. Priority access to customer support, including telephone and email support, is available to Robinhood Gold users.

Pros

• Regulated and certified by the CFTC
• No commission or account minimums
• Active since 2014 with a good track record
• Beginner-friendly platform for aspiring traders
• Great UX on both desktop and mobile apps

Cons

• Limited range of sports prediction options (March Madness)
• Limited selection of payment options
• Withdrawal fees
• Live chat is not available at all times

Robinhood payment methods

Robinhood doesn’t impose deposit or withdrawal minimums, so you can start trading with as little as you wish. However, there are some transaction limits you should be aware of.

You can only make five deposits and five withdrawals with originated ACH, with a $50,000 limit per transaction or $250,000 daily. Withdrawals have a $50,000 daily limit. Non-originated ACH has a $250,000 daily limit for deposits and withdrawals, with no limit on the number of transactions.

Users can also top up their accounts using MoneySend with a 7-day rolling limit of $2,999. The limits for debit card transactions and instant bank transfers vary daily, while also having a 1.75% fee for withdrawals.

Debit card and instant bank transfer deposits are almost immediately available, while ACH deposits may take up to five days. Withdrawal pending times vary, but they typically take several days.

Because Robinhood isn't a sportsbook, the deposit and withdrawal schedules are pretty different from other operators in the space. Check out our list of the best online sportsbooks for payouts for more information.

Robinhood customer support

You can reach out to Robinhood’s customer service in the following ways:

• Email: support@robinhood.com
• Live chat: Available every day from 7 a.m. to 9 p.m. ET
• Phone: 650-761-7789 (standard support), 888-275-8523 (Robinhood Crypto accounts and Robinhood Spending accounts only)

Recent Robinhood updates

Introducing sports prediction markets hasn’t been a smooth process for Robinhood. Only weeks into the launch of this service, it has been dealt a subpoena by Massachusetts regulators. The argument is that Robinhood is using the service to work around offering sports betting without a proper license.

Meanwhile, the New Jersey Division of Gaming Enforcement (DGE) sent cease-and-desist letters to Robinhood and its partner, Kalshi, for the same reasons. Kalshi has a history of facing legal challenges over its operations, specifically for last year’s political election-based markets, where it was successful in its defense.

More sportsbook promos

Robinhood is a prediction site, which means it operates differently from other betting sites. If you're looking for something similar, then check out the Kalshi promo code. 

Discover which sportsbooks are available in your state by checking out our table.