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BetMGM March Madness Betting Promos & Parlays: Get $5K Bonuses

It’s a great time to be a sports fan with March Madness tipping off this weekend. With so many games on the slate, there are no shortage of wagers to target for sports bettors.

BetMGM Sportsbook is offering new signups a First Bet Bonus up to $1,500 using bonus code LWOS.

On this page, we’ll dive into the BetMGM March Madness promos, providing a breakdown of some of the best sportsbook promos for the NCAA Tournament.

BetMGM March Madness Bonus Code

The BetMGM March Madness welcome offer features a First Bet Bonus up to $1,500 using code LWOS.

Place your first wager at BetMGM. If it loses, you’ll be matched in bonuses up to $1,500. For example, if I wagered $1,500 on Duke ML and lost, I’d get back $1,500 in bonus bets.

BetMGM North Carolina users are entitled to a separate offer, which is a Bet $5, Get $150 bonus with code LWOS.

Place your first bet ($5+) to secure $150 in guaranteed bonuses. That’s right — even if you lose, you’ll secure three (3) $50 bonus bets.

Other BetMGM March Madness Promos

Odds Boosts

Users can use their odds boosts on March Madness, which is where you can increase your potential payout on straight bets or parlays.

This is a useful promo that adds more value on your wagers, since you’re enhancing the odds, so be sure to secure this offer.

Refer A Friend

Send a personalized referral link to a friend and you’ll each get $100 in bonuses. Your friend must sign up at BetMGM, make a minimum $100 deposit, and play through those funds 1x ($100 in bets).

Once that’s done, you both will receive $100 in referral bonuses.

How The BetMGM March Madness Promos Work

Read on to learn about the BetMGM March Madness promos terms and conditions:

  • Get to BetMGM by clicking this link.
  • Type in BetMGM bonus code LWOS to secure the offer.
  • Place your first bet of at least $10.
  • If your $10+ wager loses, it will be matched in bonuses up to $1,500.
  • If your first bet is greater than $50, your bonus will be in 20% denominations.
    • For example, a $100 qualifying wager would net you five (5) $20 bonus bets.
  • Qualifying wagers that are less than $50 will be provided as a single bet token.
    • For example, a $40 bet would net you one (1) $40 bonus bet.
  • Your first bet cannot be used on odds boosts.
  • The bonus must be used within seven (7) days of receipt or it will expire.
  • You can use your qualifying wager on straight bets, parlays, or same game parlays on any market.

How To Activate The BetMGM March Madness Promo

  1. Click one of the links on this page to get to BetMGM.
  2. Type in BetMGM bonus code LWOS.
  3. Enter your personal information to verify your identity.
  4. Deposit at least $10 into your account.
  5. Place your first wager (minimum $10).
  6. If you lose, you’ll get your bonuses within approximately 24 hours.

What To Bet With The BetMGM March Madness Promos

When using your First Bet Bonus up to $1,500, the smart move would be to play it safe. You don’t want to be reckless and target a wager with longshot odds because your goal is to win your first wager rather than chase your losses with the bonus.

I would try to get as close to the $1,500 maximum as I can because that’s how you can get more value on this offer.

The next step would be to find a wager with odds that range from (+100) to (-120). This way, you’re targeting a bet with at least 50% implied probability while still maintaining a reasonable return on investment.

For example, if I put $1,500 on a bet with (-200) odds, I’d get $750 in potential profit, which is a lower ROI, so you’re losing value this way.

Find your favorite March Madness point spread bet for the BetMGM offer. One suggestion could be to go with Auburn -12.5 against Yale.

The Tigers are highly regarded on Pomeroy’s rankings, coming in at 4th overall (10th on offense / 4th on defense).

If you end up losing your qualifying pick, I would use your five bonus wagers on straight bets. Your goal here is to recoup as much of your losses as possible. Don’t be tempted by the alluring ROI on parlays because you need to get back what you’ve lost.

When you follow this strategy, you’ll be well on your way to making the most of the BetMGM March Madness promos.

Frank Ammirante

Frank Ammirante

I'm a sports fan who decided to get into freelance writing this year. I've written about baseball and football, with a focus on fantasy sports. I have contributed for StatementGames.com, writing playoffs series previews. I also write for TheScoreCrow.com, where I focus on baseball and football. Recently, a friend and I have started our own social media account called TheFantasyJones, where we provided fantasy baseball and football information, along with cool graphics and videos. We are hoping to expand into creating a podcast, as well as YouTube content. I look forward to joining the Last Word on Sports team!

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