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BetMGM Bet $5 Win $200 Promo: Unbelievable Value With The BetMGM $5 For $200 Bonus

Last Updated on 07/20/2024
Fact checked by: Vicky Winters

Whether it is the BetMGM $5 for $200 offer or a BetMGM $50 bonus, when it comes to new player offers, BetMGM is one of the leading operators on the market.

In this exclusive guide, we will not only tell you all about the very latest new customer promotions at BetMGM, but we will also give you some expert tips for making the most out of the offer. Simply put, if you want to give your BetMGM adventure a flying start, you will not want to miss this.

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BetMGM $5 for $200 Bonus
  • Great moneyline odds
  • Superior betting markets
  • Vast selection of betting options
Up To $1500 in Bonus Bets Paid Back if your First Bet Does Not Win
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Sports Bonus
4.6/5
Up To $1500 in Bonus Bets Paid Back if your First Bet Does Not Win
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BetMGM Highlights
  • Great moneyline odds
  • Superior betting markets
  • Vast selection of betting options

What is the BetMGM $5 for $200 promotion?

If you’ve ever encountered the BetMGM bet $10 get $200 promo, you’ll know exactly what to expect from this offer. You sign up at BetMGM, place a $5 sports bet, and, in return, you can get $200 in bonus bets. Sounds great? So the big question is - can you currently claim the BetMGM $5 for $200 promo?

The current BetMGM new player offer

Unfortunately, the answer to that question is currently no.

But don’t despair, new players at BetMGM can still benefit from a fantastic bonus in the form of a $1,500 first bet offer. If you sign up at the site today and your first bet loses, BetMGM will give you bonus bets equal to the sum of your initial bet.

How to get your BetMGM new player bonus

No doubt you are intrigued by this BetMGM new player offer, but it is important that you follow the correct process to claim and use the offer. With that in mind, here is our step by step guide to the promotion:

Step 1

Visit BetMGM and find the Register button in the top right of the page

Step 2

Complete the short registration form. This includes a few personal details, plus ID and location checks

Step 3

Once your account has been verified, head to your banking page and make a deposit of at least $10

Step 4

Place a sports bet of between $10 and $1,500

Step 5

If the bet wins, the offer is over. Enjoy your winnings

Step 6

If your bet loses, you will receive bonus bets that equate to the value of your losing bet

Terms and conditions for the BetMGM new player offer

If you’ve read our other online sportsbook reviews , you’ll know that all promotions come with terms and conditions. Here are the key ones for the BetMGM new player offer:

  • If your initial losing bet is less than $50, you will receive the full amount in one bonus bet.
  • If your losing bet is over $50, you will receive the free bets in five instalments, each totalling 20% of your losing bet.
  • You cannot use your initial bet or bonus bets in conjunction with a BetMGM reload promo.
  • If you partially cash out your initial bet, you will be disqualified from the offer.
  • The offer is only available in specific states - please check the terms and conditions in your area before signing up.

Pros and cons of the BetMGM new player offer

BetMGM main
  • No minimum odds requirements
  • Can be used on all sports
  • Up to $1,500 in bonus bets
  • Offer not available in all states
  • Cannot be used in conjunction with other offers

Our Top tips for using your BetMGM new player offer

Now that you know how to claim the BetMGM new customer promotion, let’s give you some expert tips for using your bonus bets:

Read our guide

Before you begin betting, make sure you read our BetMGM sportsbook review. This guide is full of important details on topics such as betting markets and odds. Reading this guide will give you invaluable information on how best to use your bonus bets.

Bet sensibly

There can be a temptation to throw caution to the wind when using bonus bets. As you’re effectively using free money, you cannot lose anything, so why not take a risk? Sadly this approach is likely to end in you wasting your bonus bets. The sensible approach is to treat your bonus bets in the same way as real money bets. This means doing your research, sticking to your strategies and letting your head rule your heart.

Check for a bonus code

Many sports betting offers require you to input a promo code. Fail to do this and you will not be able to claim the offer. Therefore, make sure you check our bonus guides AND read the offer terms to establish if you need to input a bonus code.

Assess your options

All sports betting offers are subject to alterations, and they all have specific terms and conditions you need to meet. Consequently, you may find that there are other BetMGM welcome offers open to you that may hold greater appeal. Who knows, there may even be a BetMGM no deposit bonus you can claim.

Bet $5 get $200 BetMGM: Final thoughts

As you can see, the current BetMGM welcome offer gives you excellent value and, in many ways, is superior to the bet $5 get $200 offer. Of course, the $1,500 bonus bet promo is only a good one if you make the most out of it. That is why it is imperative that you follow our expert tips for using the offer.

Sports Bonus
4.6/5
BetMGM
Sports Bonus
4.6/5
Up To $1500 in Bonus Bets Paid Back if your First Bet Does Not Win
Free Bet
|
T&Cs apply, 21+
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BetMGM $5 for $200 promotion FAQs

🤑 Can I get a BetMGM $50 bonus?

Yes. If you claim the current BetMGM new player offer and your first bet of $50 losses, you will receive a BetMGM $50 bonus. If you read our BetMGM bonus guides you can get full details on how to use your BetMGM $50 bonus.

🔑 Am I eligible for the BetMGM $5 for $200 promo?

You are, if you are at least 21 years of age and located in a state that is running the BetMGM $5 for $200 promo. To get the full eligibility requirements of this offer, make sure you read our exclusive BetMGM bonus reviews.

🤝 How do I claim my BetMGM bet $5 get $200 bonus?

This is a simple process that just requires you to visit the BetMGM website and complete the short sign up process. For full information on this process, check out our BetMGM $5 for $200 promo review.

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