BetMGM Bonus Code: Grab a $1.6K Deposit Match or $1.5K Insurance Offer for All Events This Week

BetMGM Bonus Code: Grab a $1.6K Deposit Match or $1.5K Insurance Offer for All Events This Week article feature image
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BetMGM Tommy Paul-Carlos Alcaraz, 07/09/2024

Head over to BetMGM Sportsbook to claim a sign-up bonus on Monday by choosing between two welcome offers, which both provide over $1,000 in bonuses.

The BetMGM Bonus Code TOPTAN1600 scores a 20 percent deposit match worth up to $1.6K in sports bonus while the BetMGM Bonus Code TOPACTION can access up to $1,500 if your first bet losses.

These offers are only available in AZ, CO, IL, IN, IA, LA, KS, KY, MA, MD, MI, NJ, NC, OH, PA, TN, VA, WV and WY.

We'll break down how to sign up, apply the offers and use sports bonus.

BetMGM Sportsbook Sign-Up Process

  1. Click here and select your state. Click "Register" in the top right corner to begin registration.
  2. Enter your details to create a new account: email address, name, date of birth, user ID, password, last four digits of your SSN (for verification purposes), phone number, and home address.
  3. Accept the Terms & Conditions, set security questions, and confirm your age and eligibility.
  4. Use the BetMGM bonus code TOPTAN1600 to have your first deposit matched at a 20% rate, up to $1,600 in Sports Bonus, or opt for the first bet offer with bonus code TOPACTION.
  5. Make an initial deposit using online banking, PayPal, a credit card, or another funding option.
  6. Place your first bet via the BetMGM sportsbook app or site.

BetMGM Bonus Code, Explained

The 20% deposit match is an Action Network exclusive offer, allowing you to score $1,600 in sports bonus. The bonus depends on your first deposit amount, so you must deposit $8K to earn the full $1.6K bonus. Also, this offer features a 10x wagering requirement.

BetMGM also has a $1,500 first bet on the house. Once you complete registration, you can wager up to $1,500 for your first bet on any market. If that bet doesn't win, you'll earn it back in five bonus bets. Therefore, if you lose your first $1,500 bet, you'll have five $300 bonus bets.

Your first and bonus bets aren't exclusive to any sport or market. Make sure you use your bonus within seven days before it expires.

How to Use BetMGM Sports Bonus

The deposit match offer instantly provides a bonus, while the first bet on the house depends on your first bet outcome. Let's assume you lost your first bet on Monday, so everyone has bonus bets.

It's likely too late to use your bonus on Monday night's sports slate, but we can look ahead to Tuesday's Wimbledon matchups. We should see an exciting match with No. 3 Carlos Alcaraz vs. No. 12 Tommy Paul. Alcaraz is seeking his second straight Wimbledon title and fourth career Grand Slam.

Alcaraz is -375 to advance to the Semifinals, with Paul entering as a +290 underdog.

Most bettors are likely backing Alcaraz in this matchup, but that doesn't work for a BetMGM bonus bet. You must target a plus-money market, or you'll lose money, no matter the outcome. This is because the stake goes away with a bonus bet, so you only keep the potential winnings.

Betting on longshots is the best way to maximize your bonus bet. You'd be taking a chance on Paul in this matchup, but his odds are ideal for a bonus.

Let's say you use a $100 bonus on Paul to defeat Alcaraz (+290). You'd have a $290 payout with a win, while the $100 stake goes away no matter what.

  • BetMGM Bonus Bet: Tommy Paul to defeat Carlos Alcaraz (+290)

21+. Gambling problem? Call 1-800-GAMBLER. AZ, CO, IA, IL, IN, LA, KS, KY, MA, MD, MI, NC, NJ, OH, PA, TN, VA, WV, WY. Call 877-8-HOPENY or text HOPENY (467369) (NY). Call 1-800-327-5050 (MA). 21+ to wager. Please Gamble Responsibly. Call 1-800-NEXT-STEP (AZ), 1-800-522-4700 (KS, NV), 1-800-BETS-OFF (IA), and 1-800-270-7117 for confidential help (MI). Participants must complete the Wagering Requirements and satisfy the (10x) playthrough requirement. Visit BetMGM.com for Terms & Conditions.

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