BetMGM Bonus Code TOPACTION Earns $1,000 Bonus for Wednesday Slate
BetMGM College Basketball Brandon Miller, 1/11/2023
BetMGM bonus code TOPACTION earns new users a $1,000 first bet on the house. That means if your first wager loses, you’ll be refunded in bet credits equal to what you lost.
So say you deposit $200, input BetMGM bonus code TOPACTION and put all $200 all on Alabama +100 against Arkansas in college basketball action. If Alabama wins, you keep the profit and original bet. If Alabama loses, you get $200 in bet credits.
You can lock in profits with these types promos, or bet something you like and then use the bet credits should it lose.
Confused? Let’s dive into the specifics of this BetMGM bonus code and how it works.
BetMGM Bonus Codes by State
BetMGM is offering two main promos at the moment — a $1,000 first bet on the house, and a $200 bet credits in select states.
The $1,000 first bet on the house can be more lucrative if you have a larger bankroll and use the offer in the optimal way by locking in profits, but the bet $10, get $200 offer is lower-risk and lower-effort.
Here are the codes and which states they’re live in. There are no bonus codes available in New York.
- TOPACTION: A $1,000 first bet on the house.
- ACTIONYARD: For users in Ohio, Maryland, Kansas, Illinois and Louisiana only. Get $200 in bet credits if the CFB team you bet throws for 1+ yard. It’s a lower-risk offer than the $1,000 first bet on the house.
Signing Up at BetMGM
Here’s how to get started signing up at BetMGM.
- Click here to sign up
- Enter your bonus code (TOPACTION, ACTIONYARD)
- Enter all your personal details — name, address, last four of SSN, phone number, etc. Make sure you put all your real info — they use the last four of your SSN to verify your identity, so putting any fake info will create problems
- Deposit with credit card, bank account, etc
- Place your first bet up to $1,000
BetMGM New User Promo Requirements
BetMGM has a few requirements that potential new users have to meet in order to register for their sportsbook. Confirm your eligibility with the checklist below:
- 21 years of age or older
- Presently in a BetMGM state. You don’t have to live there, but you do have to be physically present. Check out our travel betting guide for more details. You must use your real address, name, and info or else BetMGM can’t verify your identity. So even if you’re traveling for work, don’t try to use your hotel or Airbnb’s address.
- Access to valid deposit method (credit/debit card, bank account, or other accepted medium)
How Bonus Code TOPACTION Works
OK, time for the fun part. Let’s use your first bet.
Locking in Profit
You want to find two lines that are 1) as high as possible 2) in a “main market” like NBA or NCAAB moneylines and 3) close together at different sportsbooks. You put the first bet on the house/bet credits on the plus-money side, and cash at another book on the other side.
Here’s how it could work:
- You put the $500 bonus bet on the Pistons +230 at BetMGM.
- You put $811.76 on the T’Wolves at -240 at PointsBet, which would win $338.24.
If the Pistons win, you profit $338.24 because you won $1,150 at BetMGM and lost $811.76 on the hedge. You’re now done with this promo, and all the cash in your MGM account will be actual cash.
If the T’Wolves win, you’ll have won $338.24 from PointsBet and you’ll get $500 back in bet credits from BetMGM. Then, you’ll want to “convert” the free bets.
Bet credit conversion is the same concept as we just outlined — you can lock in a profit by hedging at another sportsbook.
Find two lines that are close together, and bet them at different books.
- Bet $1,151.16 on Saint Louis -330 in college basketball at PointsBet using cash
- Bet the $500 bet credits on George Mason +300 at BetMGM
Here are the outcomes:
- George Mason wins, you’ll win $1,500 and lose $1,151.16 on the hedge for a $348.84 profit.
- If Saint Louis wins, you’ll win $348.84 — and you’ll have the $338.24 you won from the initial NBA bet.
So either way, off a $500 deposit, you’ve locked in a profit of about $187, and you’ll have $687 total in your accounts. You can convert bet credits to cash through this method at a higher rate if you’re patient and can find lines closer together, but with some of these promos, you only have a week to use the credits.
Betting on Your Own
The best way to truly maximize your expected value is to bet something at plus-money.
So let’s say you deposit $300 and put it all on T.J. Hockenson to score a touchdown for the Vikings this weekend against the Giants, priced at +200.
- If Hockenson scores, you win $600 ($300 x 2.0) and keep the original $300. The promo is now over, and all the money in your account is withdrawable cash.
- If Hockenson doesn’t score, you get $300 back in bet credits.
You’ll then have to wager the bet credits and win those bets to turn them into cash.
ACTIONYARD Bonus Code Overview
If you’re in Ohio, 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 works:
- Simply bet $10 on any CFB or 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.
The total value may not be as high, but it’s much lower risk. If you don’t want to or don’t have time to convert the free bets later, this is a good one to take advantage of.