BetMGM Bonus Codes Offer $200 in Free Bets or $1,000 Risk-Free

BetMGM is offering a handful of different bonus codes, depending on your state.

1. ACTION: This nets a $1,000 risk-free bet (you'll be refunded in free bets if your first wager losers). It's available everywhere but New York.
2. ACTIONYARD: Get $200 in free bets if the football team you wagered on throws for at least one yard. There are two games Friday night — USF vs. Tulsa and San Diego State vs. New Mexico. Available in Louisiana, Illinois and Kansas.
3. ACTIONOHIO: Get $200 in free bets when you pre-register in the Buckeye State.
4. Maryland:Use this link to get $200 in free bets with no deposit required ahead of Wednesday's launch.

Once you've identified the sign-up offer you should claim, here's how to actually register.

How Risk-Free Bets Work

Sportsbooks use all kinds of different language to describe their promotional offers, which we broke down in-depth here.

BetMGM's risk-free bet isn't truly risk free. If your first wager on the platform loses — and it must be your first wager — you get refunded whatever you lost in free bets, up to $1,000.

Let's dive into an example from Friday. Say you deposit and bet $100 on South Floridamoneyline against Tulsa at +400.

• If USF wins, you'll profit $400 and keep the original $100. The promo is now effectively over. That money is yours to withdraw or continue betting.
• If USF loses, the promotion actually does kick in. You'll be refunded $100 in free bets to use on any event in the next few weeks.

But how do free bets work? We'll get into it below. But this is why the offer isn't risk-free. You're not getting actual cash back if your first bet loses.

How Free Bets Will Work

OK, so what happens if that first bet loses?

You get free bets back. And how do you turn those into cash? Let's take a look.

Free bets are almost like cash, but can't be withdrawn. They must be bet. And if they win, you keep the profits, but not the bet stake.

BetMGM will refund you in increments of $20 if you get $100 back. (If you get $500 back, it will be $100 increments).

Here's an example. Say you bet $100 in free bets on the Patriots -3 against the Jets on Sunday. The optimal way to use free bets is on plus-money wagers, but many people won't do it.

• If the Patriots cover, you win $91, but don't keep the $100 in free bets.
• If the Pats don't cover or lose, you lose the free bets and they go away.

Our Brandon Anderson loves the Patriots this weekend against the Jets.

The last time the Jets beat the Patriots in regulation, Mark Sanchez threw the opening touchdown to LaDainian Tomlinson in a 2011 playoff win. The last time it happened in the regular season was 25 matchups ago. New England has won 13 in a row against New York, 12-0-1 ATS to this line in that stretch. Not much of a rivalry.

But are these Jets different? New York has won five of six, and the last time we saw the Jets, they were upsetting the mighty Bills and then-MVP favorite, Josh Allen. That was a heck of a way to enter the bye week, but historically, that also tells us the Jets are probably a bit overvalued in the market.

That’s just one of a slew of trends begging us to back the Patriots:

• Opponent who just won by a TD or less as double-digit dogs: 25-15-1 ATS (63%)
• Favorites playing a rested division opponent: 59-41-2 ATS (59%)
• Favorites of a FG or less on 14+ days of rest: 49-28-5 (64%)
• Home favorites of a TD or less after a bye: 76-56-22 ATS (58%) in the first half
• Bill Belichick in games with a total below 40: 31-10-1 ATS (76%)
• Belichick as an 8-point favorite or shorter against the Jets: 15-5-2 ATS (75%)
• Division favorites against Robert Saleh: 6-3 ATS (67%)

No matter how you slice it, the trends love the Pats.

Both teams rank top three in defensive DVOA over the past five weeks, and in a game of outstanding defenses, you want Belichick every time. New England’s terrific pass rush looks like a big advantage, and so is Belichick with two weeks to prep for Zach Wilson.

How ACTIONYARD Works

There's another bonus code available in Louisiana, Illinois and Kansas that requires much less risk than the risk-free bet described above.

Bonus code ACTIONYARD unlocks $200 in free bets if you bet $10 on an NFL game, and there's 1+ passing yard from your team. Easy enough, right?

The free bets work the same way we described — if they win, you keep the profits. If they lose, they go away.

In this case, BetMGM will give you four, $50 free bets. They can't be split up any further than that.

Ohio & Maryland Pre-Registration

Sports betting is going live in a few key states soon — Maryland next Wednesday before Thanksgiving, and Ohio on Jan. 1.

Ohio users:ACTIONOHIO gets you $200 in free bets with no deposit required.

Maryland:Use this link to get $200 in free bets ahead of launch later this month. Same offer as Ohio, but you must use that link to sign up instead of a code.

Offer Details & Signup

1. Click here to signup.
2. Use ACTION, ACTIONYARD or ACTIONOHIO at checkout
3. Enter your personal info. You may be asked for the last four digits of your social security number, which is needed to verify your identity.
4. Deposit at least $10
5. Make your first bet up to $1,000

If you're headed to a state with legal betting this week, you can still sign up and bet. Just use all your real, accurate information, not the hotel you're staying at as an address or your friend's house.