Methods for applying an abrasive wear-resistant material to a surface of a drill bit include providing a drill bit having a bit body formed of a material comprising one of steel material, particle-matrix composite material and cemented matrix material, mixing a plurality of −40/+80 ASTM mesh dense sintered carbide pellets in a matrix material, heating the matrix material to a temperature above the melting point of the matrix material, applying the molten matrix material and at least some of the dense sintered carbide pellets to at least a portion of an exterior surface of the bit body; and solidifying the molten matrix material.