BetMGM Bonus Code 2021

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  • Bet & lose $500 & get $500 Back
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Legal InNJ, PA, NV, WV, IA, IN, CO, TN
Bonus Amount100% up to $500 Risk-free Bet
Rollover1x Bonus Amount
Min. Deposit$10
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Michael Tradford
Michael Tradford
Last Update:
January 15, 2021
This author was thoroughly tested and approved by the experts at before joining the editorial board to ensure a high content quality.
Author Bio:
Michael was Marketing Director in Atlantic City and worked in the casino industry for several years before shifting over to numerous newspapers in New York and Chicago working his way up to Editor-in-Chief. His focus areas are mainly in the fields of sports, gambling, and politics. He has a Marketing Degree, visited Columbia University during his time in New York and is now Editor-in-Chief at AmericaGambles.
Michael was Marketing Director in Atlantic City and worked in the casino industry for several years before shifting over to numerous newspapers in New York and Chicago working his way up to Editor-in-Chief. His focus areas are mainly in the fields of sports, gambling, and politics. He has a Marketing Degree, visited Columbia University during his time in New York and is now Editor-in-Chief at AmericaGambles.

BetMGM is a top sports betting brand in the United States, having come from places in the country that have had legal sports betting for a long time. As a result, bettors in those areas have been no stranger to some of the promo opportunities that newer legal locations are now getting access to. In fact, new bettors at BetMGM can now take advantage of risk-free initial wagers of up to $500, that are paid out in bet credits. That number is certainly enough to get the attention of any new bettor in the American marketplace. In this BetMGM bonus code review, find out everything you need to know about redeeming a BetMGM bonus code, including what terms and conditions should be monitored when claiming your bonus and what needs to be done to remain eligible for the additional funds. After testing the bonus structure on the BetMGM sportsbook, it is likely that bettors from New Jersey, Pennsylvania, Nevada, West Virginia, Iowa, Indiana, Colorado and Tennessee will enjoy the offering.

BetMGM welcome offer: $500 risk free bet

Bettors who are interested in the BetMGM bonus code should know everything they can about the offer before taking advantage of it. This BetMGM bonus is reserved for new players only who make an initial deposit with BetMGM of $10 or more. Bettors must place a wager in the sportsbook and, should that bet lose, they can receive up to $500 in BetMGM free bets to offset that loss. The BetMGM free bets that are paid out equal 100% of a bettor's initial wager amount, to make it a truly risk-free bet, as a bettor will either win their first wager or they will lose the bet and get their funds back. It is a no-lose situation.

Choose your deposit to calculate the bonus

This BetMGM bonus is valid only for a player's first deposit, and the BetMGM free bets themselves cannot be cashed out. Instead, sports bettors can only cash out the winnings from their free bets. It is also worth noting that sports bettors will receive their BetMGM free bets in 10% increments of the amount that they are being reimbursed. For example, if a bettor places an initial wager of $100 and that bet loses, they will receive 10 free bets worth $10 each. Given that only the winnings of the BetMGM free bets can be withdrawn, sports bettors should keep that in mind when they place their BetMGM free bets to make sure that they are receiving a payout from their BetMGM free bets that they are comfortable with. But this bonus is great for new bettors to be able to place a debut wager without any pressure whatsoever.

Interesting offer, but can I deposit using my preferred deposit method?

While the BetMGM promo code is attractive, that wouldn't mean much if they did not accept a wide variety of payment methods. Fortunately for sports bettors, there are several payment options available that allow sports bettors to fund their accounts so that they can take advantage of this BetMGM bonus code offer and start betting. Among the payment options that are available are the likes of bank transfers, credit cards, eWallets like PayPal and Skrill, as well as cash at Borgata. Those options should be able to address the needs of most sports bettors so that they can start the process of taking advantage of this bonus code offer.

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Let's go: I want to register!

The first step that sports bettors need to perform so that they can utilize their BetMGM bonus code is to register to use BetMGM. This is an easy process, as setting up an account doesn't take much longer than a few minutes and will set new players up to make a deposit, place a bet and get their bonus. Here is a rundown of the steps required to register at BetMGM with the goal of getting a bonus.

  • Visit BetMGM website or app
  • Click Join button
  • Fill out sign up form and enter information
  • Verify email address and identity if necessary
  • Make a deposit
  • Place any sports bet
  • Get up to $500 in free bets if first bet loses

It is incredibly important that players accurately enter their personal information when signing up for BetMGM, as that information is what is used to verify a bettor's identity to make sure that they are who they say they are. Fortunately, there is no promo code that is required in order to take advantage of this deposit bonus, as it is credited automatically in the event that a bettor's initial wager loses. That makes things a little easier, as players do not have to make sure that they have entered the correct code to get their additional funds.

The registration process at BetMGM isn't much different than other sportsbooks in that players will need to verify their identity with the sportsbook in order to be eligible to wager and take part in any deposit bonuses. This is a necessary component of the enrollment process, as it lets the sportsbook confirm that a bettor is willingly enrolling in the sportsbook. It also should give new players peace of mind, as they can feel confident that the bookmaker has their safety and security in mind, which is undeniably a positive.

BetMGM Bonus Code Conditions in Detail

Following the terms and conditions of any sportsbook bonus is important, as the failure to do so can result in a bettor not getting the funds associated with their deposit bonus in the first place. Fortunately, the terms and conditions for this bonus code offer are not difficult to comply with. These items within the terms and conditions are especially vital to pay attention to.
First, new players should keep in mind that they have to deposit at least $10 to be eligible for this new player first deposit bonus and that only the first $500 of their first bet will be reimbursed should the bet lose. The fact that the bets are only reimbursed if they lose is also an important distinction to be made here, as this is not an bonus code offer that automatically awards up to $500. Instead of being a deposit bonus, this is more like an insurance on an initial wager.

Also worth keeping in mind is the fact that the BetMGM free bets will be paid out in 10 free bets, each worth 10% of the amount that the player is receiving in free bets. Instead of getting a $500 lump sum, players will get 10 BetMGM free bets worth $50 each, for example. Players have just seven days to use those BetMGM free bets, and only the winnings from those bets will be able to be withdrawn should the free bets win. On a positive note, the free bets only need to be rolled over one time in order for players to be able to withdraw the winnings from this BetMGM promo code.

Bonus & Condition details

Bonus Amount
100% up to $500
Bonus Type
Risk-free Bet
Bet & lose $500 & get $500 Back
1x Bonus Amount
Not usable for Poker or Casino and not payed as cash
Min. Payment
Bonus Time
7 days
Yes, this bonus is cashable
100% up to $500

Tips: How to fulfill the BetMGM Betting Requirements

To fulfill the betting requirements of this BetMGM promo is easy thanks to the fact that bettors only need to risk their BetMGM free bets once before the winnings can be withdrawn. But there are a couple of helpful tips that should be considered by new players looking to use their first bet and BetMGM free bets as effectively as possible.

Use the first bet to your advantage

The first thing that a player should do when taking advantage of this bonus code offer is remember that their first wager will be reimbursed if it is not successful. Because of that fact, bettors can get a little bit more ambitious with what they want to do with their first bet, knowing the funds will be returned to them in the form of free bets as a worst case scenario. Betting on a spread betting line or total rather than a more expensive moneyline is justified as a result.

Use the free bets effectively

It should also be kept in mind that only the winnings from the BetMGM free bets in this scenario are able to be withdrawn. Because of that, bettors should avoid taking heavy favorites or anything that would pay out a low amount in order to get as much of their BetMGM free bet investment back as possible. What kind of return on BetMGM free bets a player should look for is entirely up to the individual, of course.

Top 5 common mistakes in fulfilling the turnover

Fulfilling the betting requirements with this sportsbook first deposit bonus isn’t overly complex, but it is also something that can come with mistakes if a bettor is not careful. These mistakes in particular are ones that new players tend to make that can cost them their shot at getting their first deposit bonus or just using it effectively.

  1. Not betting enough on initial wager
  2. Forgetting free bets only come if bet loses
  3. Failing to use free bets within seven days
  4. Forgetting free bets come in 10% increments
  5. Not using entirety of free bet on wager

Given the fact that the first bet is reimbursed up to $500, betting $10 on the first bet when a player’s bankroll would allow them to risk more would be a poor choice that prevented the bettor from betting the full value of their first deposit bonus. In a similar vein, bettors should keep in mind that they will only get their first deposit bonus bets if their first bet is a loser. And it cannot be stressed enough that those bets must be used within seven days of receiving them.

Also worth pointing out is the fact that bettors must use the entirety of each bonus bet, otherwise the remainder of that BetMGM bonus bet is forfeited. If a player receives 10 bonus bets worth $10 each, for example, and tries to place an $8 free bet, they will forfeit the remaining $2 of one of their bonus bets.

BetMGM reload bonus and promotions

BetMGM does not offer a reload bonus to new players at this time, but they do a good job with a promo menu that is evolving on a consistent basis. One area in which they do an especially good job is with their odds boosts, which give players the chance to win more money than they would normally win on a bet. These boosted odds are a nice value to bettors who might already have wanted to bet on the props those odds are boosted for.

Also included in the BetMGM promo list is the Money Monday Club, where bettors can receive a $10 bonus bet every week. While $10 isn’t a massive bonus bet, the potential to earn one every week can add up over time and make a nice addition to a player’s bankroll in addition to the wagers that they are making in the process.

There is also the ability to cash out bets before a game has concluded, which gives new players the chance to take an amount less than the initial payout amount to cash out in the middle of a game. This is good in situations where a team appears to be losing the momentum in an event. With no lead being truly safe in sports, cashing out can often be a smart decision.

The BetMGM promotional menu is being updated consistently, so bettors should be sure to take a look at it on a regular basis to see if anything new has been added that appeals to them.


BetMGM bonus: Often asked and answered here

In this promo, bettors need to deposit at least $10 and place any sports bet. If their first bet loses, they will be reimbursed in the form of 10 bonus bets that add up to the amount that was lost during the first bet. Bettors then have seven days to use their 10 bonus bets.

There is no restriction on the sports that can be wagered on per this promo. Bettors can wager on anything from football and basketball to several different types of rugby. At the end of the day, the number of sports that can be wagered on is limited mostly to a bettor’s imagination.

No deposit methods are restricted from taking advantage of this bonus code offer from BetMGM. That means that bettors can use an array of methods that includes bank transfers, credit cards, and even cash used at Borgata in order to fund their accounts before using this bonus code offer to their advantage in the sportsbook.

If a bettor’s first wager is successful, they will not receive the bonus bets that are referenced in this offer. Instead, the bettor will keep their profits from their initial bet and will have more money in their account than they would if they had lost their first bet and received the 10 bonus bets.

BetMGM is a high quality sportsbook. It offers action on a strong array of sports, and has a live betting section that offers a nice selection of markets to choose from even as games are going on. With live streaming capabilities and several other features as well, this is a sportsbook worth trying.


A nice insurance policy
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The BetMGM new player bonus is a solid one, in that bettors can protect themselves in the event that their first bet with the sportsbook does not cash. It isn’t great for new players who win their first bet, given that they would not receive a bonus, technically speaking. But it does serve as a nice insurance policy for those who want to get started safely or who want to place an ambitious first bet without any risk on their end. Don’t miss out on your chance to earn up to $500 in bonus bets. Get your BetMGM bonus now and get started.
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