Welcome Bonus
About the 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 It's important to note that these credits are for betting purposes only and cannot be withdrawn as cash.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- Bonus Bets cannot be withdrawn or redeemed for cash, limiting their use strictly for betting.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.