{"id":57,"date":"2022-11-03T23:08:27","date_gmt":"2022-11-03T23:08:27","guid":{"rendered":"https:\/\/lastwordonsports.com\/betting\/?page_id=57"},"modified":"2024-11-28T11:53:55","modified_gmt":"2024-11-28T16:53:55","slug":"betmgm-sportsbook-promos","status":"publish","type":"page","link":"https:\/\/lastwordonsports.com\/betting\/betmgm-sportsbook-promos\/","title":{"rendered":"BetMGM Sportsbook Review &#8211; Claim your Bonus Bet up to $1,000"},"content":{"rendered":"<p><strong>BetMGM<\/strong> <strong>Sportsbook<\/strong> is the self-proclaimed \u201c<strong>King of Sportsbooks<\/strong>,\u201d and it\u2019s easy to understand why.<\/p>\n<p>If you <strong>use the BetMGM promo code\u00a0<\/strong>when you sign up, your first bet will be repaid in bonus bets up to $1000 should it lose.<\/p>\n<p><a href=\"https:\/\/www.njbettingonline.com\/recommends\/betmgm-sportsbook-lwos\/\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-31 size-medium\" src=\"https:\/\/lastwordonsports.com\/betting\/wp-content\/uploads\/sites\/31\/2022\/10\/BetMGM_logo_380x114-300x91.png\" alt=\"betmgm sportsbook\" width=\"300\" height=\"91\" srcset=\"https:\/\/lastwordonsports.com\/betting\/wp-content\/uploads\/sites\/31\/2022\/10\/BetMGM_logo_380x114-300x91.png 300w, https:\/\/lastwordonsports.com\/betting\/wp-content\/uploads\/sites\/31\/2022\/10\/BetMGM_logo_380x114.png 381w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>That said, there\u2019s a lot to unpack if you want to get the most out of the BetMGM welcome bonus. The good news is, we\u2019ve got you covered. Remember that no matter how strategic you are, you can walk away with an overall loss despite taking advantage of a great sign-up bonus.<\/p>\n<p>If you haven\u2019t used a bonus bet before, you might still be uncertain about how best to take advantage. Is there a \u201cright\u201d amount to stake? Are there strings attached? We&#8217;ll guide you through claiming and using your welcome bonus at BetMGM.<\/p>\n<h2>BetMGM new player welcome offer<\/h2>\n<p>The way the BetMGM welcome bonus works is pretty straightforward:<\/p>\n<ul>\n<li>Click this link and sign up with BetMGM code.<\/li>\n<li>Make a deposit.<\/li>\n<li>Place a bet for at least $10, and if it loses, you\u2019ll be refunded in bonus bets.<\/li>\n<li>Bets of $49 or less are refunded with a single bonus bet. Bets of $50 or more are refunded with five bonus bets, each worth 20% of your wager. So if you lost a $100 bet, BetMGM would issue you five $20 bonus bets.<\/li>\n<li>The max refund is in bonus bets, which requires placing and losing a bet.<\/li>\n<\/ul>\n<p>The biggest things to decide are how much you want to make your initial bet, since that will determine your refund if you lose. Then, if you do receive a refund, you must choose how you want to use those bets.<\/p>\n<h2>Using the BetMGM promo code<\/h2>\n<p>Start by clicking any link on this page to register with BetMGM Sportsbook. Enter the best BetMGM Sportsbook bonus code LWOS when you sign up.<\/p>\n<p>Next, you\u2019ll need to make a deposit. The welcome bonus will be active no matter the amount of your first deposit. However, we suggest depositing at least the money you intend to use for your first bet.<\/p>\n<p>That\u2019s all there is to it. Now you can place your first bet, and if it loses, you\u2019ll be given BetMGM bonus bets.<\/p>\n<h2>Using the BetMGM welcome bonuses<strong>\u00a0<\/strong><\/h2>\n<p>There\u2019s no such thing as an objective right or wrong answer for using your BetMGM welcome bonus.<\/p>\n<p>You could make an aggressive first bet in the hopes of capitalizing on the nature of the bonus. You could try and play it safe and make a small profit, while knowing you have a safety net of sorts if your bet fails.<\/p>\n<p>There\u2019s no magic spell that will guarantee a profit with this or any sportsbook welcome bonus. Although this is a welcome offer, there is a possibility of losing despite using the bonus in the smartest way possible. For that reason, you should not bet more than you\u2019re comfortable losing.<\/p>\n<p>Now that all that\u2019s out of the way, let\u2019s break down the BetMGM sign-up bonus.<\/p>\n<h3>Maximizing the BetMGM bonus bet<\/h3>\n<p>To maximize the BetMGM promo, you need to know your limits as a bettor and figure out how much it makes sense for you to wager.<\/p>\n<p>To go back to basics for a second, the BetMGM bonus isn\u2019t without risk. Rather, this BetMGM promo offers you something that\u2019s more like insurance.<\/p>\n<p>If your first bet with BetMGM loses, you get a bonus bet refund. That means you have to win a bet to actually receive part of your money back. You\u2019ll notice that we said \u201cpart of your money back.\u201d That\u2019s because you don\u2019t receive your bet stake back when placing bonus bet wagers. Unless you win a bet with plus odds, you\u2019ll still end up down overall.<\/p>\n<p>You also need to consider how BetMGM refunds lost bets. If your first bet is $49 or less, you\u2019ll get one bonus bet of that amount (e.g., a first wager of $20 returns single bonus bet of $20). If your first bet is $50 or more, you get five bonus bets, each equal to 20% of your wager (e.g., a first wager of $400 nets you five bonus bets, each worth $80).<\/p>\n<p>Because of this, if you plan to make a $40 first bet, we highly recommend betting at least $50. We consider five $10 bonus bets much more valuable than a single $49 bet because you have a lot more options on how to use them.<\/p>\n<p>Now, let\u2019s cover some critical restrictions. First, BetMGM bonus bets expire after seven days. Second, you can\u2019t use bonus bets in conjunction with most BetMGM promotions. For instance, you couldn\u2019t use a bonus bet and take advantage of another BetMGM promotion and receive a second refund if you lose.<\/p>\n<p>Now, the question becomes how to use your bonus bet and for how much. It goes without saying that if you bet on a longshot and win, you\u2019ll make more money than if you bet on a favorite and win.<\/p>\n<p>Let\u2019s say you win your opening bet. That\u2019s great; you collect your winnings and the welcome bonus at BetMGM goes away. You can keep betting, cash out, or do a little of both. But what if you lose your first bet? Now it\u2019s time to go over using those bonus bets.<\/p>\n<p>A major drawback of bonus bets is that when you wager with them, you don\u2019t keep your stake. For example, a $100 cash bet at +130 returns $230 ($100 stake + $130 winnings). But a $100 bonus bet only returns $130 since your stake is not paid out. Simply put, bonus bet wagers return less money than cash wagers do. The good news at BetMGM, though, is that since bets of $50 or more refund you with five bonus bets, you get a lot more freedom in how to use them.<\/p>\n<p>For example, if you lost a $500 bet, you\u2019d get five $100 bonus bets. You could decide to use your first one on a +500 parlay, hoping to recoup all your losses right away. If it hits, you now essentially have four $100 bonus bets that are house money.<\/p>\n<p>You also have the option of using your bonus bets in conjunction with one another to ensure you don\u2019t lose everything. For example, you could use one bonus bet on a moneyline favorite and another on the spread underdog in the same game. In a perfect world, you\u2019d win both bets, but you\u2019d be assured of winning at least one.<\/p>\n<p>Now, here\u2019s a real-world <a href=\"https:\/\/lastwordonsports.com\/betting\/nfl\/\" target=\"_self\">NFL betting<\/a> example to make sure you know exactly how bonus bets work.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-58 size-full\" src=\"https:\/\/lastwordonsports.com\/betting\/wp-content\/uploads\/sites\/31\/2022\/10\/BetMGM-LWOS-Bet-Example.png\" alt=\"\" width=\"904\" height=\"130\" srcset=\"https:\/\/lastwordonsports.com\/betting\/wp-content\/uploads\/sites\/31\/2022\/10\/BetMGM-LWOS-Bet-Example.png 904w, https:\/\/lastwordonsports.com\/betting\/wp-content\/uploads\/sites\/31\/2022\/10\/BetMGM-LWOS-Bet-Example-300x43.png 300w, https:\/\/lastwordonsports.com\/betting\/wp-content\/uploads\/sites\/31\/2022\/10\/BetMGM-LWOS-Bet-Example-768x110.png 768w\" sizes=\"auto, (max-width: 904px) 100vw, 904px\" \/><\/p>\n<p>Maybe you think the <strong>Buffalo <\/strong><strong>Bills<\/strong> are a sure thing, and you want to use one of those $100 bonus bets on Buffalo at -500. The only problem is, even if you win, you\u2019ll only get $20 back. This is where the math gets really crazy. That same $100 bonus bet on the <strong>Green Bay Packers<\/strong> would return $375, meaning betting on the underdog here pays out almost 19 times what betting on the favorite does.<\/p>\n<p>This is why some bettors avoid using bonus bets on favorites. If you bet the underdog, the difference between using cash and bonus bets can feel a little less dramatic. You could also argue that if the Bills end up victorious, winning $20 is better than winning zero dollars. Fair point. At the end of the day, it all comes down to personal choice.<\/p>\n<p>Of course, the difference between betting on an underdog and a favorite isn\u2019t as dramatic if the lines are tighter (e.g. -120 instead of -500). You can seek out those tighter lines if you don\u2019t want to squander the value but also don\u2019t want to take an overly risky line.<\/p>\n<p>We hope this article has shed a little light on how you can go about claiming and using your BetMGM welcome bonus. It\u2019s a pretty straightforward <a href=\"https:\/\/lastwordonsports.com\/betting\/sportsbook-bonuses\/\" target=\"_self\">sportsbook bonus promo<\/a> and a nice way to get started with a new sportsbook. Have fun, play safe, and happy wagering.<\/p>\n<h2><strong>Gamble Responsibly<\/strong><\/h2>\n<p>If you or someone you know has a gambling problem and wants help, call or visit the Council on Compulsive Gambling:<\/p>\n<ul>\n<li aria-level=\"1\">Gamblers Anonymous at 855-2-Call GA or www.gamblersanonymous.org<\/li>\n<li aria-level=\"1\">CO, DC, IL, IN, LA, MD, MS, NJ, OH, PA, TN, VA, WV or WY \u2013 Call 1-800-GAMBLER<\/li>\n<li aria-level=\"1\">CT &#8211; Call 888-789-7777<\/li>\n<li aria-level=\"1\">AZ \u2013 Call 1-800-NEXT-STEP<\/li>\n<li aria-level=\"1\">IA \u2013 Call 1-800-BETS-OFF<\/li>\n<li aria-level=\"1\">KS, NV \u2013 Call 1-800-522-4700<\/li>\n<li aria-level=\"1\">KY \u2013 Call 1-800 GAMBLER, 18+<\/li>\n<li aria-level=\"1\">MI \u2013 Call 1-800-270-7117 for confidential help<\/li>\n<li aria-level=\"1\">MA \u2013 Call 1-800-327-5050<\/li>\n<li aria-level=\"1\">NC \u2013 Call \u2013 1-800-662-4357<\/li>\n<li aria-level=\"1\">NY \u2013 Call 877-8-HOPENY or text HOPENY (467369)<\/li>\n<\/ul>\n<p><i>DISCLAIMER: The information on this site is for entertainment purposes only. Gambling comes with its fair share of risks, and it is important to recognize that when using online gambling sites.<\/i><\/p>\n<p><i>While we review different gambling sites, you should check with local laws in your area before gambling online. Also, all gambling sites and guides are rated 21+ only.<\/i><\/p>\n<p><i>The following free gambling addiction resources can be of help:<\/i><\/p>\n<p><b><i>21+ Please Gamble Responsibly.\u00a0 Gambling Problem? Call or text 1-800-GAMBLER<\/i><\/b><\/p>\n<p><a href=\"https:\/\/www.ncpgambling.org\/\" target=\"_blank\" rel=\"noopener noreferrer\">NCPG<\/a>\u00a0\u2013\u00a0<a href=\"https:\/\/www.icrg.org\/\" target=\"_blank\" rel=\"noopener noreferrer\">ICRG<\/a>\u00a0\u2013\u00a0<a href=\"https:\/\/www.gamblersanonymous.org\/ga\/\" target=\"_blank\" rel=\"noopener noreferrer\">Gamblers Anonymous<\/a>\u00a0\u2013\u00a0<a href=\"https:\/\/www.gamblingtherapy.org\/\" target=\"_blank\" rel=\"noopener noreferrer\">Gambling Therapy<\/a><\/p>\n<h2>FAQs<\/h2>\n<h3>What is the BetMGM promo code?<\/h3>\n<p>The BetMGM Sportsbook bonus code is <a href=\"https:\/\/lastwordonsports.com\/betting\/go\/betmgm\" target=\"_self\">LWOS<\/a>. Enter the code when you create your new BetMGM account.<\/p>\n<h3>Is BetMGM sportsbook legit?<\/h3>\n<p>Absolutely. BetMGM is a well-known and highly reputable player, with an immense business empire attached to its brand. The entertainment and hospitality empire began with the world-famous <strong>MGM Grand Hotel and Casino<\/strong> on the <strong>Las Vegas<\/strong> <strong>Strip<\/strong>. Since 2018, <strong>MGM<\/strong> has cemented its place as a premier operator in the world of legal online sports betting.<\/p>\n<p>BetMGM operates all over the <strong>United States<\/strong> where sports betting is legal. The brand always does so with a legal license and government oversight from the relevant regulatory agencies. Your money, personal information, and online payment data are all secure with BetMGM. You should have no qualms about its security measures.<\/p>\n<h3>Where is BetMGM\u2019s online sportsbook available?<\/h3>\n<p><em>Terms and conditions apply to all offers. Please see BetMGM Sportsbook for details. 21+ Gambling Problem? Call 1-800-GAMBLER+\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BetMGM Sportsbook is the self-proclaimed \u201cKing of Sportsbooks,\u201d and it\u2019s easy to understand why. If you use the BetMGM promo code\u00a0when you sign up, your first bet will be repaid in bonus bets up to $1000 should it lose. That said, there\u2019s a lot to unpack if you want to get the most out of [&hellip;]<\/p>\n","protected":false},"author":4355,"featured_media":1220,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_lmt_disableupdate":"no","_lmt_disable":"","footnotes":""},"class_list":["post-57","page","type-page","status-publish","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/lastwordonsports.com\/betting\/wp-json\/wp\/v2\/pages\/57","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lastwordonsports.com\/betting\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/lastwordonsports.com\/betting\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/lastwordonsports.com\/betting\/wp-json\/wp\/v2\/users\/4355"}],"replies":[{"embeddable":true,"href":"https:\/\/lastwordonsports.com\/betting\/wp-json\/wp\/v2\/comments?post=57"}],"version-history":[{"count":14,"href":"https:\/\/lastwordonsports.com\/betting\/wp-json\/wp\/v2\/pages\/57\/revisions"}],"predecessor-version":[{"id":3562,"href":"https:\/\/lastwordonsports.com\/betting\/wp-json\/wp\/v2\/pages\/57\/revisions\/3562"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lastwordonsports.com\/betting\/wp-json\/wp\/v2\/media\/1220"}],"wp:attachment":[{"href":"https:\/\/lastwordonsports.com\/betting\/wp-json\/wp\/v2\/media?parent=57"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}