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Every app wants you to invite your friends.
Sportsbooks do it.
Trading apps do it.
Crypto exchanges do it.
Prediction markets do it.
They all pay you per friend.
But the payouts are wildly different.
Some pay $10.
Some pay $100.
One pays up to $15,000 a year.
We compared the biggest referral programs side by side.
One winner stood out by a mile.
🥇 #1: Robinhood — the tiered giant
Robinhood doesn't pay a flat rate per friend.
It pays in milestones.
And the milestones get bigger as you climb.
Here is the ladder:
- 1 friend = $50 in free stock
- 3 friends = $150 in free stock
- 10 friends = $800 in free stock
- 50 friends = $4,000 in free stock
- 200 friends = $10,000 in free stock
Total possible: up to $15,000 a year.
Your friend gets free stock too.
Worth $5 to $200.
Both sides win.
And the trigger is tiny.
Your friend just opens an account and deposits any amount.
Even $1.
That is it.
🧮 The math: why tiers beat flat rates at scale
Let us do the per-friend math.
At 10 friends, Robinhood pays $800.
That is $80 per friend.
At 50 friends, it pays $4,000.
Still $80 per friend.
Now compare that to flat-rate programs.
BetMGM pays $100 per friend.
Sounds better per friend.
But it caps at 20 friends a month.
And your friend must live in a legal sports betting state.
And meet the sportsbook's qualifying requirements.
Robinhood has no such monthly cap.
Its yearly ceiling is $15,000.
No other program on this list goes that high.
Kalshi caps out at $1,000 total.
Forever.
40 friends times $25, and you are done.
DraftKings pays $100 per friend.
But only 5 friends per offer window.
That is $500 per window, then you wait.
Robinhood also has the easiest ask in the game.
"Deposit $1" beats "deposit and place a bet."
It beats "trade $25."
It beats "trade $100."
Every time.
More friends say yes.
More friends finish the steps.
That is how you actually reach the big milestones.
🥈 The sportsbooks: big flat rates, tight caps
BetMGM — $100 per friend
Up to 20 friends a month.
That is up to $2,000 a month in potential.
The catch: your friends need to be in a legal sports betting state.
And they must meet the sportsbook's qualifying requirements.
Great if your circle bets.
Useless if they do not.
DraftKings — $100 per friend
Five friends per offer window.
That is $500 per window, max.
Big payout, small window.
Fanatics — $100 per friend
Paid in FanCash, not cash.
Five friends per window.
Fine if you shop Fanatics gear.
Less exciting as free money.
FanDuel — $50 per friend
Five friends per 30 days.
Caesars — $50 per friend
Ten friends per month.
Hard Rock Bet — $50 per friend
Twenty friends per month.
The $50 sportsbooks are solid.
But they all share the same flaw.
Your friend has to be a bettor in a legal state.
That is a much smaller pool of people than "anyone with $1."
🔮 The prediction markets: small but easy
Kalshi — $25 per friend
Up to 40 friends.
That is a $1,000 lifetime max.
Your friend must trade $25 to trigger the bonus.
Two warnings here.
First, the bonus credits expire in 7 days.
Use them or lose them.
Second, the bonus itself is not withdrawable.
Only the profits are.
Kalshi also is not available everywhere.
It is blocked in Arizona, Illinois, Maryland, Michigan, Montana, New Jersey, Ohio, and Nevada.
Polymarket — $10 per friend
No trading match needed.
The easiest $10 on this list.
But it is just $10.
No tiers.
No milestones.
No scale.
🪙 The crypto programs: small bonuses, mixed triggers
Crypto.com — $25 in CRO each
Both sides get $25 in CRO.
Simple setup.
No big trade requirement attached.
Kraken — random $5 to $50 each
Up to $1,000 total.
Your friend deposits and trades.
The random amount is fun.
The randomness is also the downside.
You might get $5.
Coinbase — $10 in BTC each
Your friend makes one trade of $100 or more.
Easy for crypto people.
A hurdle for everyone else.
Gemini — $10 in BTC each
Your friend trades $100 within 30 days.
Same shape as Coinbase.
Binance — up to 50% of your friend's trading fees
This one is different.
It is an ongoing commission, not a one-time bonus.
If your friend trades a lot, it adds up over time.
If they trade once and leave, you get almost nothing.
⭐ The full rankings
| Rank | Program | Rating | Verdict |
|---|---|---|---|
| 1 | Robinhood | ★★★★★ | Tiered milestones up to $15K a year, and your friend deposits just $1. |
| 2 | BetMGM | ★★★★☆ | Best flat rate at $100 per friend, up to 20 a month, but needs a legal betting state. |
| 3 | DraftKings | ★★★★☆ | $100 per friend, but only 5 per offer window. |
| 4 | Fanatics | ★★★★☆ | $100 per friend in FanCash; great for gear shoppers, weaker as cash. |
| 5 | Kalshi | ★★★★☆ | $25 per friend up to 40; watch the 7-day expiry and the state bans. |
| 6 | Crypto.com | ★★★★☆ | $25 in CRO each with a simple trigger. |
| 7 | FanDuel | ★★★☆☆ | $50 per friend, 5 per 30 days; smaller pool of eligible friends. |
| 8 | Caesars | ★★★☆☆ | $50 per friend, 10 per month. |
| 9 | Hard Rock Bet | ★★★☆☆ | $50 per friend, 20 per month. |
| 10 | Kraken | ★★★☆☆ | Random $5 to $50 each with a $1,000 cap; fun but unpredictable. |
| 11 | Coinbase | ★★★☆☆ | $10 in BTC each, but your friend must trade $100 or more. |
| 12 | Gemini | ★★★☆☆ | $10 in BTC each, friend trades $100 within 30 days. |
| 13 | Binance | ★★★☆☆ | Up to 50% of trading fees ongoing; only pays if your friend trades heavily. |
| 14 | Polymarket | ★★★☆☆ | The easiest $10 on the list, but it is only $10. |
🏁 The bottom line
Flat rates look exciting.
$100 a friend sounds unbeatable.
Until you hit the cap.
Until your friends do not live in the right state.
Until they will not place a bet or make a $100 trade.
Robinhood wins because the tiers scale.
$80 effective per friend at the 10- and 50-friend marks.
A $15,000 yearly ceiling nobody else touches.
And a $1 deposit trigger that anyone can finish.
That is the math.
🚀 Start with the winner
Open a free Robinhood account and deposit any amount — even $1.
You both get free stock.
Then share your own link and climb the milestone ladder: $50, $150, $800, $4,000, $10,000 — up to $15,000 a year.
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