BetMGM Promo Offers - Choosing the Right Signup Bonus

When it comes to BetMGM, they have two great promotions available for new customers, and which one is best for you will depend on your betting style and volume. Choosing the right sportsbook and promo offers is critical to building your bankroll.

Which BetMGM Promo Offer Should You Choose?

For most, the {bet $10, get $200} promo is probably the best option. This promotion allows you to claim $200 in bonus bets after joining here, depositing at least $10, and placing a $10 bet. Just note you can’t use your first $10 wager on any odds boost, parlay boost or use bet insurance tokens, or you risk losing the bonus offer. 

However, if you’re going to bet more than $400, or just want to maximize your “expected value” on the promotions, your best bet comes from the “Claim up to $1,500 in bonus bets” offer. With this, if your first bet loses, BetMGM will refund that bet in bonus bets.

So if you deposit $400, and your best NFL bet is the Steelers at +120 to win Sunday Night Football; if the bet wins you’ll now have $880, while if the bet loses you’ll have $400 in bonus bets, which you can then split into five separate bonus bets of $80 each. This scales all the way up to an initial bet of $1,500.

What is the Value of a Bonus Bet?

Typically our data science team values a bonus bet at 70% of its face value (assuming you bet them on something like underdogs in College Football), so the bet $10, get $200 is worth about $140; while a max $1,500 refund is worth about $570:

• 45% chance of the Steelers winning, you’re up $1800.
• 55% chance of the Steelers losing, you get $1500 in bonus bets worth $1,050
• ($1800 * 0.455 = $819) - ($450 * .545 = $245.25) = $573.25

At $400, your value is $152, at $500 the value is $190, and so on – so at each of those stake levels your return is better on the “Claim up to $1,500 in bonus bets” offer.

Keep in mind that gambling is all about having a fantastic experience! If you or someone you know is grappling with gambling issues, reach out to 1-800-GAMBLER for crisis counseling and support. Let the good times roll!