Free Bet, 20-To-1 Payout among BetMGM Offers

MGM National Harbor in Maryland. Shannon Finney/Getty Images for MGM National Harbor/AFP.

BetMGM is feeling generous this April with a pair of interesting betting deals. New users can place a $1,000 bet for free, or they can take advantage of a special multisport promotion that will pay off an initial $10 bet with $200—that’s 20-to-1 odds.

Free Bet

New users that might be hesitant to risk their hard-earned money can get a safety net, as BetMGM offers one of the biggest insurance policies around.

Your first wager of up to $1,000 will be risk-free. If you win, you keep your money, but if the first bet loses, you get the amount you wagered back in free bet credits.

This offer is only for first-time bettors at BetMGM, and it’s available wherever the sportsbook operates, including Arizona, Colorado, DC, Illinois, Indiana, Iowa, Louisiana, Michigan, Mississippi, New Jersey, New York, Nevada, Pennsylvania, Tennessee, Virginia, West Virginia, and Wyoming.

You need to make a deposit of at least $10 to qualify for the risk-free bet. If you lose less than $50, you get your money back in one free bet credit for that amount. If your initial bet was more than $50, you get five equally sized credits. So if you bet $1,000 and lost, you’d get back five free $200 bets.

You then have seven days to use the free bet credits before they expire.

$10 gets you $200

New users can also get an early boost to their winnings in hockey and basketball.

If you sign up and bet $10 on any NBA moneyline market, you’ll win whatever your initial bet earns you, but win or lose, you’ll get something back.

If either team in the game you bet on hits a three-point shot, you’ll get a $200 payout. On a $10 bet, that’s a 20-to-1 payoff, regardless of whether you win or lose your actual bet.

The offer also stands for NHL games. If you bet $10 on any NHL team moneyline market, and either team scores a goal in that game, you get $200, whether your bet won or lost.

The $200 will be paid in four free $50 bet credits, and you have up to seven days to use them.