BetMGM Bonus Bets: How To Earn Bonus Bets for Online Sports Betting

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BetMGM @BETMGM Aug 30, 2023, 6:28 PM

The BetMGM online sportsbook has daily sports betting promotions for all sports bettors. Some of those promos involve Bonus Bets, including the $1,500 First Bet Offer for new customers.

What Is a Bonus Bet?

A Bonus Bet is a BetMGM credit to place a bet without using cash funds. 

For example, if your account has $20 in Bonus Bets, in lieu of your account balance, you can use the Bonus Bets to bet on the Philadelphia Eagles’ moneyline (-120) against the Dallas Cowboys.

If the Eagles win, you’ll receive $16.67.

If the Eagles lose, you don’t lose any money from our account balance. 

Each Bonus Bet can only be used once (and must be used within seven days after credited to your account). It can be used on one straight bet or one parlay and can’t be split between various bet placements.

Bonus Bets can’t be redeemed for cash, nor can you Cash Out a bet placed with Bonus Bets. 

How To Earn Bonus Bets at BetMGM

There are many ways to earn Bonus Bets at BetMGM, including the $1,500 First Bet Offer for new customers.

Once you sign up for a new account – at or by downloading the BetMGM Sportsbook app on iOS or Android – and deposit a minimum of $10, you can place a bet on an NBA spread, NFL moneyline, MLB parlay, or anything else.

If the bet loses, you’ll earn Bonus Bets equal to the amount of your stake (up to $1,500).

If, for example, you lose a $200 bet on the Detroit Pistons’ spread (+9.5) against the Sacramento Kings, you’ll receive $200 in Bonus Bets.

You can also earn Bonus Bets through other promotions like Same Game Parlay Insurance. Visit the Promotions section of your account to see all available opportunities to earn Bonus Bets, along with full terms and conditions for the promotion.

BetMGM is now live in the state of Kentucky.