BetMGM Bonus Code ACTION Offers Up To $1,000 for Chargers-Colts

BetMGM Bonus Code ACTION Offers Up To $1,000 for Chargers-Colts article feature image

Bet MGM Colts-Chargers, 12/26/2022

New users can take advantage of BetMGM bonus codeACTION to claim a bet on the house up to $1,000 if their first wager loses. That's right! If your first bet comes up as a loss, BetMGM will give you back your stake (up to $1,000), no questions asked.

What a great belated-Christmas gift to receive while enjoying a relaxing holiday season watching football games, like Chargers-Colts!

Learn more about BetMGM to see why it is one of the industry's leading sportsbooks. For those interested in some additional fun and games, be sure to check out Action Network's BetMGM Casino offer with a value up to $1,025 when you use casino bonus code ACTIONCASINO.

Bonus Codes for BetMGM by State

It's worth noting that BetMGM has a variety of new user promotions depending on your location. While most are eligible to receive the $1,000 first bet insurance, others will have a slightly different offer.

Here's a breakdown of all of the available BetMGM bonus code options along with details for each state where the sportsbook is active.

  1. ACTION: A $1,000 first bet on the house.
  2. ACTIONYARD: For users in Maryland, Kansas, Illinois and Louisiana only. Get $200 in bet credits if the NFL team you bet throws for 1+ yard. It's a lower-risk offer than the $1,000 first bet on the house.
  3. ACTIONOHIO: Get $200 in bet credits with no deposit required. BetMGM is expected to launch in Ohio on Jan. 1.
New JerseyACTION
New YorkNone
West VirginiaACTION

BetMGM Sign-Up Process

Getting registered and collecting your new user bonus with BetMGM is a simple 5-step process:

  1. Click here to begin the BetMGM registration
  2. Input the appropriate bonus code for BetMGM based on your location (ACTION or ACTIONYARD)
  3. Enter the required account information to verify your identity (i.e. name, address, email, last four digits of SSN, etc)
  4. Make your initial deposit to start your bankroll ($10 minimum)
  5. Place your first bet and wait for the results (remember you can get up to $1,000 on BetMGM in most states if your first bet loses, so go for a long shot)!

BetMGM New User Promo Requirements

BetMGM does have some requirements that potential new users have to meet in order to register for their sportsbook. Confirm your eligibility with the checklist below:

  1. Must be 21+ years old
  2. New users must be located in a state where BetMGM is active. It's important to note that new players do not have to live in a legal betting state, they just have to be there at the time of activation and making a bet. Check out our travel betting guide for more details.
  3. Access to valid deposit method (credit/debit card, bank account, or other accepted medium)

How Does the $1,000 First Bet on the House Promotion Work?

If you are completely new to sports betting, it is definitely worth your time to familiarize yourself with common betting terminology as it relates to sportsbook offers. Also, don't forget to review Action Network's tips for first-time bettors to position yourself for success.

Alright, now it's time to talk about the fun stuff – how to use the BetMGM new user bonus to its fullest potential.

Choosing a First Bet

Once you've made your initial deposit, shop for a bet that you want to place your entire bankroll on (up to $1,000). This may sound scary, but this strategy is the best way to maximize this BetMGM offer. Remember, they'll return your stake if your first wager loses. So, really, there's no risk involved!

Let's use today's Chargers-Colts game as an example to see this promo in action.

First thing's first – find a prop bet or other long shot (maybe a parlay?) wager that offers significant plus-money. These are the types of wagers that offer the most value with bet credits and promotional offers.

Let's say you decide to bet the winning margin of the game for your first bet. You stake $1,000 on the Chargers to win by 7-12 points at +425 odds. Here are the possible outcomes of your first bet:

  • The Chargers win by 7-12 points over the Colts. You win $4,250 in profits AND you keep your original $1,000 stake. Nice payout!
  • The Chargers do not win by 7-12 points. BetMGM will now add $1,000 worth of bet credits to your account to use on other wagers.

Bet Credits on BetMGM

In our example above, you wagered your full $1,000 bankroll on the Chargers to win by 7-12 points at +425 odds. Hypothetically, the bet lost, so as part of the new user promotion, BetMGM is now going to credit your account with 10 separate $100 bet credits. Think of these as $100 spots courtesy of BetMGM. They'll cover your wager, but if your bet wins, you only get to keep the profits.

Now you might be wondering, what should I do with all these credits? Well, the bet credit strategy is similar to we previously outlined. Continue to seek out plus-money wagers with high-value potential. These bets are far from sure things, but if they win, it will be a significant bankroll booster.

Here's another example using one of your newly acquired $100 bet credits.

Let's say you put it on Coastal Carolina moneyline at +240 on Tuesday against East Carolina. If Coastal wins, you profit $240 but don't keep the $100 in bet credits. If it loses, your credits go away.

ACTIONYARD Bonus Code Overview

If you're a resident of Maryland, Kansas, Illinois, or Louisiana, the promotional information above does not pertain to you. Instead, BetMGM is offering a near no-risk, NFL-specific bonus. Here's how it work:

  • Simply bet $10 on any NFL game
  • If the team you've wagered on throws for 1+ yard in the game (yes, you read that right), then you get $200 in bet credits

While the money value may not be as high with ACTIONYARD, new users are practically guaranteed money from BetMGM in the form of four $50 bet credits.

Nothing changes in terms of strategy with these bet credits. Go for plus-money wagers that you think could have a reasonable chance of winning to maximize your profits.

How would you rate this article?

This site contains commercial content. We may be compensated for the links provided on this page. The content on this page is for informational purposes only. Action Network makes no representation or warranty as to the accuracy of the information given or the outcome of any game or event.