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. Bonus code ACTION: Available everywhere but New York. This nets a $1,000 risk-free bet (you'll be refunded in free bets if your first wager losers).
2. Bonus code ACTIONYARD: Available in Louisiana, Illinois and Kansas. Get $200 in free bets if the football team you wagered on throws for at least one yard. Plenty of options to choose from on Saturday's CFB slate. Just bet $10 on any team, and the free bets will be in your account shortly.
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.

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

Risk-Free Bet Explained

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 Saturday. Say you deposit and bet $200 on Boston College moneyline against Notre Dame at +500.

• If BC wins, you'll profit $1,000 and keep the original $200. The promo is now effectively over. That money is yours to withdraw or continue betting.
• If BC loses, the promotion actually does kick in. You'll be refunded $200 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.

Free Bets Explained

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Free bets are almost like cash, but can't be withdrawn.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 four increments of $50 if you get $200 back. (If you get $500 back, it will be $100 increments).

The optimal way to use free bets is on plus-money wagers, but many people won't do it.

But let's say you bet Utah -1.5, tailing our Collin Wilson.

If Utah wins and covers, you profit $182 from the $200 in free bets, but you don't keep the free bets. So now off a $200 deposit, you've lost $18. And the promo is effectively over. If Utah doesn't cover, you end up with nothing.

Here's why Collin likes the Utes:

Only two teams in college football have given up more first downs via the opposing pass than Oregon, indicating Kincaid and wide receiver Devaughn Vele will have a command successful targets against the Ducks.

Utah will have the advantage on offense to sustain drives, drain clock and take advantage of an Oregon defense that allows 4.2 points to opponent scoring opportunities.

Lanning mentioned the aggressiveness of a Utah defense that sends more than four rushers on 28% of snaps. While Oregon’s one of the best teams in the nation in pass blocking, left tackle TJ Bass has allowed 17 pressures this season. Reid primarily lines up on the right tackle, but edge Jonah Elliss ranks second on the team in pressures and will be paired up with Bass.

Action Network projects this game at Oregon -2, but the Ducks will meet one of the best defensive teams on their schedule. That number assumes Nix and his offensive line are at full strength, as there are questions leading up to kickoff.

Without Nix, the point spread projection would favor Utah on the road against Ty Thompson.

Look for Utah to rack up successful drives that eat clock and end in points. The Utes’ aggressiveness on defense will produce pressured pockets and allow points off explosives.

The Oregon defense has yet to see an offense with heavy tight end personnel, giving Utah a large advantage on both sides of the ball.

How ACTIONYARD Works

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.