New customers in most locations, besides New York, have the choice between two introductory promos with the use of a BetMGM welcome offer: BetMGM bonus code SHNEWS1600, which activates a 20% deposit match up to $1,600 in sports bonus or BetMGM bonus code HANDLETOP, a first bet on the house worth up to $1,500.

This is one of the few welcome promos among top sports betting apps that doesn’t require a first bet to earn the bonus. You need a new account and at least a $10 deposit to trigger the deposit match.

However, BetMGM does have cash betting requirements within the first 30 days of opening your account. For example, let’s say I make a $200 deposit, earning $40 in sports bonus.

The alternate offer is currently the largest first bet insurance promo you can find among top sports betting sites. You’ll need a new account, a $10+ deposit and a cash bet of any size.

First bet insurance offers can play out two different ways depending on the outcome of your first bet:

Win — This plays out like any normal wager you place on a sportsbook. You’ll profit cash and keep your stake but don’t access any bonus bets.

Miss — BetMGM reimburses your stake miss up to a maximum $1,500 within 24 hours of bet settlement

BetMGM pays out the bonus bets depending on the size of your stake.

If your wager is $50 or less, you receive one single bonus bet to utilize on a single wager. Otherwise, $51 or more and BetMGM sends five bonus bets each equaling 20% of your stake loss.

Each bonus bet is still treated as a singular bonus bet that must be used on one straight bet or one parlay. You can’t sprinkle the bonus bet among multiple wagers.

These bonus funds are valid for seven days in your account and can be used to profit cash on wagers. No matter how the bonus bet wager plays out, the stake always goes to the house since you can only use the bonus bets once.

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