Earn between 20% match, or get $1.5K max insurance

BetMGM, one of the largest sports betting sites across the U.S., offers the choice between two welcome promos in most sports betting states. Some locations, such as New York, are excluded from either offer.

Each promo works differently and has a different BetMGM bonus code so we’ll walk you through each offer and how to qualify.

NYPNEWS1600 — 20% deposit match up to $1,600 in sports bonus

As soon as you make a minimum $10 deposit after setting up a new account, BetMGM will match 20%. There’s no first bet required to earn the sports bonus but you’ll have to meet a few requirements after earning the bonus from your first deposit.

• The sports bonus must be used within seven days to fund a wager within the platform
• BetMGM requires 10x the bonus wagered in the first 30 days to access any cash winnings

NYPNEWS — Earn up to $1,500 back in bonus bets if your first bet doesn’t win

This works as a typical first bet insurance that is popular among multiple sportsbooks right now. However, it’s actually the highest dollar amount at $1,500 which makes it exceptional for larger first wagers.

As with all of these types of offers, a win doesn’t earn bonus bets but you’ll profit cash just like any other bet. If the bet misses, BetMGM matches the stake with bonus bets to recover the loss.

It’s only on your first bet on the platform so you can’t win your first bet and then lose the second for bonus bets.

Steps to sign-up for the BetMGM promo

1. Click here for the 20% deposit match or use this link for the first bet insurance.
2. You’ll use the register button to set up a new account with valid info.
3. Next, make at least a $10 deposit for either offer and apply bonus code NYPNEWS1600 or NYPNEWS on the deposit page for the corresponding offer.
4. That’s it for the deposit match!
5. If you chose the first bet on the house, place a cash bet of any size to be covered.

How does each BetMGM welcome offer work?

20% Deposit Match

As long as the deposit is $10 or more, it’s entirely up to you on how much to put in your new account. Let’s say I make a $100 deposit, earning $20 in sports bonus.

First, the $20 in bonus must be used within seven days to fund a wager within BetMGM. Next, BetMGM requires me to place $200 (10 x $20) in total cash bets within 30 days or else I lose any cash winnings I’ve profited in my account.

$1.5K First bet on the house

This offer is easier to navigate and plays out two different ways depending on how your first bet shakes out. With such a high coverage amount, it makes sense to use this bet for a larger wager $500 or more.

Let’s say I place $500 on a +250 same game parlay. Here are the two outcomes of the promo:

• A win doesn’t earn bonus bets but you profit actual cash to withdraw or use on another bet. In this case, I’d earn $1,250 in profit and keep my $500 stake for a total $1,750 in my account.
• A miss means BetMGM deposits $500 over a few different bonus bet payments to recoup my stake loss

21+. Gambling problem? Call 1-800-GAMBLER. AZ, CO, IA, IL, IN, LA, KS, KY, MA, MD, MI, NC, NJ, OH, PA, TN, VA, WV, WY. Call 877-8-HOPENY or text HOPENY (467369) (NY). Call 1-800-327-5050 (MA). 21+ to wager. Please Gamble Responsibly. Call 1-800-NEXT-STEP (AZ), 1-800-522-4700 (KS, NV), 1-800-BETS-OFF (IA), 1-800-270-7117 for confidential help (MI). Visit BetMGM.com for Terms & Conditions. US promotional offers not available in DC, Nevada, New York or Ontario.