BetMGM New Customer First Bet Promo Code: $1,500 Bonus Offer

April 2, 2024

The BetMGM First Bet Offer is now available! And it's giving you up to $1,500 paid back in bonus bets if your first wager doesn't win.

But how exactly does this sportsbook bonus work? Who's eligible to claim it? And do you need a specific promo code to unlock it? These are just a few of the many questions that you may be asking yourself.

Well, don't worry! We're here to help. In this article, we'll provide a complete breakdown of the $1,500 First Bet Promo at BetMGM Sportsbook, including how it works, what steps you'll need to take to claim it, and much more. Now, let's dive right in!

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First Bet Up To $1500

Promo Сode:
Gambling Problem? Call or TEXT 1-800-Gambler 21+

BetMGM New Customer First Bet Promo Code for $1,500 Bonus Offer

BetMGM, one of the top U.S. betting sites, is currently providing one of the best sign-up bonuses in the sports betting industry! 

When you sign up today and make your first deposit at BetMGM Sportsbook, you'll get to take advantage of the $1,500 First Bet Offer. Here's a quick breakdown of everything you need to know:

🎁  Promo Offer:Up To $1500 in Bonus Bets Paid Back if your First Bet Does Not Win
✅ BetMGM Bonus Code:SQOREBET
❗Terms & Conditions:*Bonus Bets Expire in 7 Days. One New Customer Offer Only. Add’l terms.
🇺🇸 Available in:AZ, CO, IN, IA, IL, KS, KY, LA, MD, MI, NC, NJ, OH, PA, TN, VA, DC, WV, WY
💰 Minimum deposit:$10
🗓️ Days to use bet credits:7 days
Promo Rating5/5

How Does the BetMGM First Bet Offer Work?

So, how exactly does the BetMGM First Bet promotion work? Allow us to explain!

BetMGM welcomes new customers with an attractive offer: if your first wager doesn’t win, receive up to $1,500 back in Bonus Bets. To qualify, simply sign up and use one of the specific bonus codes provided during registration. This promotion allows you to place your initial bet with confidence, knowing you have a safety net. Should your bet not result in a win, BetMGM credits your account with Bonus Bets equivalent to your stake, up to $1,500. These Bonus Bets offer a chance to earn winnings on future bets. It’s important to note that while profits from Bonus Bets can be cashed out, the Bonus Bet amount itself is not withdrawable as cash. This generous new customer offer is designed to introduce you to the wide range of betting options at BetMGM with minimized risk.

This means you can get started with added confidence and peace of mind knowing that BetMGM Sportsbook is providing a huge safety net in case things don't go according to plan!

Is Your First Bet Free at BetMGM?

No, your first bet at BetMGM is not technically “free." However, your first bet at BetMGM Sportsbook does come with a huge safety net that can help lower the traditional risks associated with sports betting.

BetMGM is currently providing up to $1,500 in insurance on your initial wager. This means you'll automatically get a 100% refund of up to $1,500 in bonus funds if your first bet is not a winner.

So, while your first bet isn't free in the traditional sense, the insurance provided by the BetMGM $1,500 First Bet Offer is still very valuable and lets you place a big bet knowing that you'll get another chance if it happens to lose.

My Experience With the BetMGM First Bet Promo

I had a chance to test out the sign-up bonus at BetMGM Sportsbook, and I am happy to report that the offer is 100% legitimate!

After signing up and losing my first bet, I received my refund almost instantly. The bonus bets were quickly credited to my account and able to be used on any other games or events of my choice.

Overall, my experience with the BetMGM First Bet Offer was very positive, and I would encourage all sports fans in eligible states to sign up and take advantage of the promo while it's still available.

Can I get $200 in Bonus Bets at BetMGM?

No, the $200 in bonus bets offer is currently on pause but securing a $200 bonus at BetMGM Sportsbook is straightforward and rewarding for new customers. Begin by signing up for a BetMGM account and enter the bonus code SQOREBET during the registration process. Next, make an initial deposit of at least $10 to qualify for the promotion. Proceed to place your first bet on any sports market of your choice. Regardless of the outcome of this bet, win or lose, BetMGM credits your account with $200 in bonus bets. This bonus is distributed as four $50 bets, offering you multiple opportunities to explore and enjoy wagering on a wide range of sports.

How To Claim the BetMGM First Bet Offer

Step-By-Step Guide for Unlocking the BetMGM $1,500 Bonus

Are you ready to sign up and take advantage of the exciting $1,500 First Bet Offer at BetMGM Sportsbook? Here are the steps you can take to do just that:

1 Visit the Website or Download the App

First, click or tap here to visit the BetMGM website on your smartphone, tablet, or another preferred device. You may also go ahead and download the BetMGM Sportsbook mobile app from the App Store or Google Play Store.

2 Sign Up for an Account

Once you reach the site or open the app, you can begin the sign-up process. You'll just need to provide some basic personal information, choose a secure password for your account, and agree to the Terms of Use. Then, complete the quick account verification process by following the on-screen instructions provided.

3 Make Your First Deposit

Now, it's time to make your first deposit. Go to the “Deposit” or “Banking” section, choose your preferred method of payment, select or enter the amount you'd like to deposit ($10 or more), and confirm the transaction.

4 Place a Qualifying Wager

After you'd made your first deposit, it's time to place a qualifying wager of $10 or more on any betting market offered by BetMGM.

5 Claim Your First Bet Bonus

Now, you're all set! If your first bet wins, congratulations! Enjoy your winnings. On the other hand, if your first bet happens to lose, you'll receive a full refund of up to $1,500 in bonus bets within 24 hours.

Claim Your $1,500 BetMGM Bonus
Bonus code: SQOREBET
Gambling Problem? Call or TEXT 1-800-Gambler 21+

Terms & Conditions for the BetMGM First Bet Promo

Before we go any further, let's take a minute to discuss some of the most important terms and conditions associated with the $1,500 BetMGM First Bet Offer promotion. This will help ensure that you fully understand how the promotion works and prevent any surprises further down the line.

Wagering Requirements

Wagering requirements, also commonly known as playthrough requirements and rollover requirements, refer to the number of times that you must wager the bonus funds before you can withdraw them as cash.

Fortunately, all bonus bets awarded as a result of BetMGM's First-Bet Insurance promotion have just a 1x wagering requirement in place. This means that you only need to wager the bonus funds once before they become eligible for withdrawal.

Bonus Expiration Dates

Bonus expiration dates are another important factor to consider when participating in any promotional offer. These dates determine the timeframe within which you must use or meet the wagering requirements of your bonus funds.

All bonus bets at BetMGM Sportsbook are valid for one week. So, you'll need to use your bonus funds within seven (7) days of receiving them; otherwise, they will expire and become void. 

Eligibility Rules

Lastly, we should mention that the BetMGM $1,500 First Bet Promo is only available to those who meet the following three requirements:

  • Age: You must be at least 21 years old.
  • Location: You must be physically located in an eligible U.S. state: AZ, CO, IN, IA, IL, KS, KY, LA, MD, MI, NC, NJ, OH, PA, TN, VA, DC, WV, or WY.
  • New User: You must be a first-time user of BetMGM Sportsbook.

If you meet these criteria, you should have no problem signing up and claiming your bonus!

Best Way To Use the $1,500 BetMGM First Bet Offer

Are you trying to figure out how to make the most of the First Bet Offer at BetMGM Sportsbook? Here are a few strategies and tips to keep in mind:

  • Research and Choose Wisely: Before placing your first bet, research the available options and select a wager that aligns with your knowledge and expertise. Whether it's a favorite team, a sport you follow closely, or a type of bet you're familiar with, make an informed choice.
  • Read the Terms and Conditions: Take the time to thoroughly understand the terms and conditions of the First Bet Offer. This includes any minimum wager requirements, eligible markets, and restrictions on odds or bet types.
  • Optimize Your Bet Size: Consider the maximum allowable wager for the promotion. While it's tempting to go all-in, be mindful of your bankroll and only bet what you can afford to lose. Finding the right balance between risk and potential reward is key.
  • Explore Different Markets: Don't limit yourself to traditional betting markets. Explore alternative markets such as player props, futures, or in-game bets. These markets may offer unique opportunities and higher potential payouts.
  • Take Advantage of Promotions: In addition to the First Bet Offer, keep an eye out for other promotions and bonuses available at BetMGM Sportsbook. These could include odds boosts, Bet & Get offers, or special promotions for upcoming events.

Frequently Asked Questions

Does BetMGM Have a Welcome Bonus?

Yes! When you sign up today, you can take advantage of the BetMGM $1,500 First Bet Offer. This promotion offers up to $1,500 in first-bet insurance, meaning you'll get a full refund of up to $1,500 in bonus bets if your first wager happens to lose.

How Does the BetMGM First Bet Bonus Work?

The BetMGM First Bet Promo works just like any another “No Sweat Bet” or “Second Chance Bet” promotion. When you sign up at BetMGM Sportsbook and place your first wager, you'll be paid back up to $1,500 in bonus bets if the bet is not a winner!

How Do I Claim $200 on BetMGM?

Unfortunately, you can't. BetMGM Sportsbook has offered a Bet $10 Get $200 promotion in the past; however, it is not currently available. Instead, you can sign up and take advantage of the sportsbook's $1,500 First Bet Offer for all new customers.

Peyton Powell
Peyton is an huge sports fan and a graduate of the University of Louisville. He has always enjoyed playing, watching, and betting on sports. Born and raised in Kentucky, a state without any professional sports teams, he had to find teams to cheer for away from home. Peyton's favorite teams include the Los Angeles Lakers, Baltimore Ravens, and Boston Red Sox.