BetMGM: Bet $5 Get $150 in Bonus Bets Review

6 min read

Welcome Bonus

BetMGM Bet $5 Get $150 in Bonus Bets
BetMGM Sportsbook
12/08/2024
expire
Medium
to obtain
1x
wagering req.
7 days
wagering period

About the Bonus

BetMGM Bet $5 Get $150 Welcome Bonus.

The "Bet $5, Get $150" bonus by BetMGM is designed for new customers who are interested in sports betting. This promotion allows participants to start their betting journey by placing a first wager of $5 or more through the BetMGM Sportsbook mobile application. Regardless of the outcome of this initial wager, the participant is awarded $150 in Bonus Bets. These Bonus Bets can then be utilized on a variety of sports offered by BetMGM.

To be eligible for this offer, a minimum deposit of $10 is required. The concept behind Bonus Bets is quite straightforward: they are credits that enable players to place bets without the need to use cash funds. It's important to note that these credits are for betting purposes only and cannot be withdrawn as cash. Furthermore, Bonus Bets are to be used in their entirety on a single bet and are not included in any potential winnings. They also come with a validity period of seven days after being credited to the user's account, emphasizing the importance of timely usage. This promotion presents an opportunity for new users to explore BetMGM's sports betting options with a reduced financial risk on their initial bet.

Pros & Cons

Pros

  • New users receive $150 in Bonus Bets irrespective of their first wager's outcome, providing a significant incentive to join.
  • The promotion offers flexibility, allowing the Bonus Bets to be used across a wide range of sports.
  • It lowers the entry barrier for new bettors by offering a reward on a minimal initial wager of $5.
  • The process to claim the offer is straightforward, requiring only a $10 deposit and a bet of $5 to qualify.

Cons

  • Bonus Bets cannot be withdrawn or redeemed for cash, limiting their use strictly for betting.
  • Any winnings from Bonus Bets do not include the stake amount, which could affect the total return.
  • The offer is subject to quite a few terms and conditions that might be restrictive for some users.
  • Bonus Bets expire within seven days, which puts a time constraint on their usage.

How to Claim

To take advantage of the "Bet $5, Get $150" offer from BetMGM, new users need to follow a specific set of steps. This promotion is tailored to encourage newcomers to start betting on their favorite sports by providing a financial cushion. The process involves a straightforward signup and betting procedure, aimed at simplifying the entry into sports betting for new users.

Step-by-Step Guide:

  1. Download the BetMGM Sportsbook app on iOS or Android, or visit the BetMGM website.
  2. Register for a new account by providing the required information, including personal details and account preferences.
  3. Deposit a minimum of $10 into your BetMGM account.
  4. Place your first bet of $5 or more at standard odds.
  5. Regardless of the outcome of your wager, you will receive $150 in Bonus Bets.
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Great Rewards Program

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$10
min deposit
Varies
max withdrawal
1-5 days
withdrawal speed
1-4.7%
margin

Terms & Conditions

Understanding the terms and conditions is crucial for anyone interested in taking advantage of the "Bet $5, Get $150" bonus. These rules outline the eligibility criteria, promotional period, and specific requirements needed to claim and use the bonus effectively.

Key Terms and Conditions:

  • The promotion is available during the specified promotional period, from 2/12/2024 to 8/12/2024.
  • Eligibility is limited to new BetMGM Sportsbook users who are residents of certain states and are at least 21 years old.
  • Participants must deposit at least $10 and place a qualifying bet of $5 at standard odds.
  • Bonus Bets are credited regardless of the first bet's outcome and must be used within seven days.
  • Each Bonus Bet must be used in a single wager and cannot be split between various bets.
  • Bonus Bets cannot be redeemed for cash or withdrawn.
  • The promotion is not available in conjunction with any other welcome offer or "New Customer" sports promotion offer.

Final Thoughts

The "Bet $5, Get $150" offer by BetMGM presents a notable opportunity for new users to enter the realm of sports betting with an added advantage. By providing $150 in Bonus Bets after an initial wager of just $5, BetMGM aims to attract new customers to its platform. While the promotion offers a significant incentive, it is accompanied by a set of terms and conditions that require attention. The success of such a promotion lies in its ability to balance the appeal to new bettors with the practical aspects of betting restrictions and requirements. As with any promotional offer, potential users are advised to fully understand the terms and conditions to make the most out of their initial sports betting experience with BetMGM.

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