One of the biggest hurdles to new gamblers is the possibility of losing. While the lure of a big payday is compelling, the thought of losing money keeps many potential bettors from pulling the trigger. BetMGM has moved away from that hurdle, with an offer of a risk-free first bet up to $1,000. If you place a bet and don’t win, the sportsbook will refund your money.
One of the biggest hurdles to new gamblers is the possibility of losing. While the lure of a big payday is compelling, the thought of losing your hard-earned money keeps many potential bettors from pulling the trigger.
BetMGM has moved away from that hurdle, by offering a risk-free first bet to new customers on the site.
Losing Wagers Refunded
BetMGM is offering new users a risk-free first bet up to $1,000. If you place your first bet, and it doesn’t win, the sportsbook will refund your money.
The site spells out the steps involved in collecting this opportunity to bet without fear of losing:
Sign up and deposit into your newly created account.
Download the BetMGM Sportsbook app on iOS or Android, or visit BetMGM.com
Place your first wager risk-free and receive up to $1,000 back in free bets if it loses.
If the bet does lose, your free bets will be available once the wager is settled!
What That First Bet Has to Be
As far as free offers go, there aren’t a lot of strings attached to this one. There are no odds limits attached. The payout of the free bets varies based on how much is wagered on the first bet.
If a new user bets less than $50 and loses, they’ll get one free bet equal to the full amount of their wager. If they lose more than $50, the amount is divided into five equally-sized free bets. So if someone puts up the limit of the promotion—$1,000—and loses, they’ll get five free $200 bets, while a $49 bet will get one free $49 wager.
The free bets must be used within a week after the money is refunded to the customer’s account.
Since online gambling isn’t legal everywhere, the promotion is limited to states where BetMGM is established. Winners must be located in Arizona, Colorado, D.C., Florida, Indiana, Iowa, Louisiana, Michigan, Mississippi, Nevada, New Jersey, New York, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia, or Wyoming.
New users must also be 21 years old, and the new account must be created and the first bet placed within the promotional period, which opened on January 17 and runs until the end of this year.
New customers who use this offer are not eligible for any other new customer offers, and the refund is nullified if they cash out early, edit their bet, or cancel a bet.
Other BetMGM Fun
BetMGM has plenty of other offers available at its sportsbook, especially with the Super Bowl LVI coming up.
One of the most interesting offers is the chance to get 20-to-1 odds on what looks like a sure thing. If a new customer bets $10 on the Bengals vs. Rams Super Bowl, and either team scores a touchdown, the customer wins $200 in free bets.
Obviously, at least one touchdown has been scored in each of the first 55 Super Bowls, and the vast majority of NFL games feature at least one person reaching the end zone at some point, so the odds are good that customers will be able to collect that $200.
The offer isn’t limited to football. There’s a similar offer for new customers gambling on the NBA. If you bet $10 and either team hits a three-pointer during the game, you get the same $200 in free bets.
While it’s not a full refund, BetMGM also cuts down on the risk for parlay betting, offering One-Game Insurance. If a bettor has a four-plus game parlay and one game loses, BetMGM will refund up to $25.