BetMGM Bonus Code ACTION Nets $1,000 Bonus for UFC 281, CFB, NFL, More

BetMGM bonus code ACTION will nab new users a $1,000 "risk-free" bet for any event on Saturday or Sunday and beyond.

If your first bet on the platform loses, you'll be refunded in free bets, up to $1,000.

Bonus code ACTIONYARD — Illinois, Louisiana and Kansas only — gets you $200 in free bets if the college football or NFL team you bet throws for 1+ yard.

BetMGM Risk-Free Bets, Explained

So how do these risk-free bets work, exactly? BetMGM will refund you in free bets if your first bet on the platform loses, equal to whatever you lost on that wager.

Let's say I make my deposit and want to put it all on UCF +2.5 against Tulane on Saturday, a game that will decide who represents the conference in the AAC title game.

Our college football expert Collin Wilson likes the Knights:

The advantages for Tulane exist in the passing game, with the Central Florida defense ranking mid-FBS in coverage. While the Green Wave aren’t explosive in passing downs, Tulane is one of the most successful teams in moving the chains after getting behind schedule.

Both of these teams have statistical advantages in limiting scoring opportunities and red-zone defense.

Despite the defenses stiffening when opponents are in scoring position, getting points in this game is the desired investment.

Central Florida doesn’t have to worry about Havoc or a pass rush no matter which quarterback plays under center. Tulane will meet a Knights defense that is elite in stopping the run, as the Green Wave prefer to pass when off schedule.

Look for points with UCF as it looks to take control of the AAC.

OK, so let's pretend I deposit and bet $200 on the Knights moneyline, because I'm a sicko who isn't satisfied with taking 2.5 points. UCF is about +120, depending on the book.

• If UCF wins, I'll profit $240, and keep the original $200.
• If UCF loses, I'll lose $200, but get it back in free bets, which we'll explain below.

Not sure what any of this means? Learn about reading American odds and point spreads here.

Free Bets at BetMGM

Here's the visual I paint for free bets — it's like a friend spots you on a bet, and if it wins, they let you keep the winnings, but they want the money they spotted you back. If it loses, no sweat.

So BetMGM will pay for the bet, and you get to keep the winnings.

You should always be using free bets on longshots, generally in the +300 to +500 range in tight markets with a lot of liquidity. While an individual bet may lose, it's all about the expected value you're getting over time. Make enough free bets, and you'll convert more into cash over time.

If UCF loses, you'll get the free bets back later Saturday and can use them for Sunday NFL.

BetMGM splits their free bets into smaller increments — in the case of a $200 free bet, you'll get four, $50 bets.

Now let's pretend I play them four different ways on Sunday, and we'll see the profits and losses.

So in this scenario, you've deposited $200 and now have $150 in your account, for a $50 loss.

That's why these offers aren't truly "risk-free" — you can lose some or all of your deposit, depending on how your first bet goes and your risk-free bet goes.

Here's How ACTIONYARD Works

ACTIONYARD gets you $200 in free bets, as long as the team you bet throws for a passing yard. It's only available in Louisiana, Illinois and Kansas, sadly.

This is a better offer than the $1,000 risk-free, because you don't actually have to risk much. You can just put $10 in, and potentially turn it into much more.

In the example above, if you split those same free bets with two wins and two losses, you can make $150 on a $10 deposit.

Offer Details & Signup

Signing up at BetMGM is simple:

1. Click here to signup.
2. Use ACTION or ACTIONYARD 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

Then depending on which offer you chose, you'll unlock $200 in free bets through 1+ passing yard in an NFL game, or a $1,000 risk-free bet to use on your first wager.

If you're traveling to a state with legal betting, it's perfectly legal to sign up and bet, as long as you're inside state lines. You can even withdraw money if you're back in your home state; the only thing you can't do is actually bet.