BetMGM launched in North Carolina on Monday, so new NC users get a low-risk offer to get started. In most other states, there are a variety of offers you can pick from. In some other states, you get nothing.
- North Carolina: Bet $5, get $150 bonus bets. Use promo code TRIBUNENC.
- AZ, CO, IL, IN, IA, LA, KS, MA, MD, MI, NJ, OH, PA, TN, VA, WV, WY: 20% deposit match up to $1,500 (promo code TRIB1600) or $1,500 first bet insurance (TRIBUNENEWS)
- Washington D.C. and Kentucky: $1,500 first bet insurance (promo code TRIBUNENEWS)
- Puerto Rico: $100 first bet insurance (TRIBUNENEWS)
- New York, Nevada, Ontario: Nothing
How BetMGM’s 3 Offers Work
Confused? Let’s dive into each offer separately.
North Carolina: Bet $5, get $150
The North Carolina offer is the most straightforward and lowest risk.
Just deposit $10, bet $5, and you’ll get $150 in bonus bets. Those bonus bets come back to you in six, $25 increments, and you’ll have seven days to use them.
So how do bonus bets work, anyway? You keep any profit from those bets, but not the stake of the bet itself. So if you place a $25 bonus bet on something that’s +200, you’ll profit $50 if they win, but you won’t keep the $25 like you would with a normal cash bet.
20% deposit match
The deposit match is a bit more confusing. Whatever you put in, you’ll get 20% matched in bonus bets, up to a max of $1,600 bonus bets. So that would require an $8,000 deposit.Let’s say you deposit $1,000. You’ll get $200 in bonus bets.
But this offer comes with a bit of fine print.
- You must wager 10x your bonus amount in the first 30 days. So if you deposit $1,000 and get $200 in bonus bets, you must wager $2,000 or else you forfeit the promo and the bonus bets you earned. If you max out the promo, you must bet $16,000 in your first 30 days.
- You get five bonus bets divided up equally, so in this case you’d get five, $40 bonus bets. They expire in seven days.
- If you don’t hit the wagering requirement of 10x in 30 days, you forfeit any profit you made from those bonus bet wagers earlier in the month.
If you plan on using BetMGM regularly, this offer makes sense. But if you don’t, it’s going to be hard to hit that wagering requirement.
$1,500 first bet insurance
This offer works like most other “insurance” offers at other sportsbooks. It’s called something different just about everywhere — no sweat first bet, first bet safety net, etc. But they all work the same.
Place a first bet up to $1,500 and if it loses, you’ll be refunded equal to what you lost, in bonus bets.
Say I put in $300 and bet it all on Pitt against UNC in the ACC Tournament semifinals on Friday, priced at +200.
- If Pitt wins, I’ll profit $600 and keep my $300 wager. The promo is over, and I have $900 I can do whatever I want this — continue betting, withdraw it all, withdraw some.
- If Pitt loses, I’ll get back $300 in bonus bets.
BetMGM refunds you in five increments, so in this case I’d get five, $60 bonus bets. I have seven days to use them.
Signing up at BetMGM
- Download the BetMGM app.
- Enter all your personal info, and make sure it’s legitimate and matches your photo ID.
- When asked for a bonus code, enter NYPOSTNC if you’re in NC; use TRIB1600 for the deposit match or TRIBUNENEWS for the first bet insurance.
- Depending on your offer, make your first bet — at least $5 in North Carolina, up to $1,500 for the insurance.
- Claim $150 in bonus bets after making a $5 first wager
