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BetMGM Promo Code FORBES1500 (Up To $1,500 Bonus Bet)

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BetMGM Promo Code FORBES1500 (Up To $1,500 Bonus Bet)

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July 1, 2024February 12, 2023
BetMGM Promo Code FORBES1500 (Up To ,500 Bonus Bet)

New users who register and deposit through BetMGM Sportsbook’s website or mobile application, available on iOS and Android, can claim “bonus bets” in the form of site credit.

To claim this first bet offer, users must deposit at least $10 and place a real-money wager through their BetMGM account. If their first wager loses, they’ll receive the same amount back in bonus bets up to $1,500.

Use the promo code FORBES1500 to claim this special offer.

Best BetMGM Promo Codes – July 2024

The best offer from BetMGM for users who have never signed up and deposited on the platform includes up to $1,500 in bonus bets if their first wager loses.

To claim the offer, new users must create an account with BetMGM using the code FORBES1500, deposit at least $10 and place their first real-money wager on any sport on the platform.

If their wager loses, they’ll receive the same amount in bonus bets, up to $1,500. If their wager wins, they’ll receive their winnings in cash and will not get any bonus bets.

Bonus bets must be used within seven days and cannot be withdrawn or transferred.

Sign up through a BetMGM link or banner on this page.

BetMGM Promo Codes for Existing Users

There are no BetMGM Sportsbook promo codes for existing users who have registered, deposited and played on the platform.

Still, the sportsbook has perks for existing customers. Existing users who “refer a friend” are eligible for a bonus bet up to $100. You can refer up to 20 friends per month.

Once your friend creates a verified account and meets the refer-a-friend requirements, you both will receive the bonus.

Additionally, all users receive weekly “odds boosts” and “same-game parlay insurance,” among other regular promotions.

How to Claim BetMGM First Bet Bonus

First, download the BetMGM Sportsbook app through a link or banner on this page.

From there, follow these simple steps:

  • Sign up with your name and other required personal information.
  • Enter the promo code FORBES1500.
  • Deposit at least $10 into your BetMGM account with an approved payment option, which includes Visa, MasterCard, Discover, American Express, PayPal, Apple Pay, PayNearMe and ACH Transfer.
  • Place a bet on any market on the BetMGM platform.
  • If your first wager loses, you’ll receive the same amount back in bonus bets up to $1,500.
  • Bonus bets valid for seven days.

How to Place a Bet On BetMGM

Betting on BetMGM Sportsbook is straightforward. To place a wager, find the game or event you want to bet on and select it in the app or website. That bet will be added to a “betslip,” where users enter the amount they want to wager before clicking “submit” to lock in that wager.

One of the most popular types of bets at BetMGM is a parlay, which allows bettors to combine multiple bets into one large wager with a much higher potential payout. That said, parlays also carry much higher risk, as each leg of a parlay needs to win for the wager to cash.

While parlays can be fun and carry more upside, they are also typically lower-value bets because of the risk involved. We recommend making straight bets – including wagers on the moneyline, spread, over/under or prop bets on a game or player – to maximize value on any given bet.

BetMGM Promo Code Summary

What To Look For in a Sports Betting Bonus

Here are some things to look out for when considering a sportsbook promotion.

  • Bonus Type: Most new-user bonuses either give you bonus bets for wagering a small amount or provide a bonus bet if your first wager loses. BetMGM’s offer is the second kind, since you only get a bonus bet if your first wager loses.
  • Eligibility: Many promotions are only available to new customers who haven’t signed up for that sportsbook in the past, and there are usually age and state requirements as well. BetMGM’s offer is only for first-time customers who are of the legal gambling age in a state where BetMGM operates.
  • Wagering Requirements: To qualify for a promotion, your first wager may need to meet certain criteria. It may need to be over a specific amount and odds threshold. BetMGM only requires that your first wager is made with real money (not a bonus bet).
  • Minimum Odds: A qualifying bet may have a minimum odds requirement to prevent customers from betting on heavy favorites (i.e., -200 or longer). BetMGM’s offer does not have a minimum odds requirement.
  • Validity Period: The length of time a bonus is valid for. BetMGM’s bonus bets are valid for seven days, after which they expire and are removed from your account.
  • Maximum Win/Bonus Cap: Some bonuses cap the amount of money you can win with them to protect sportsbooks from losing too much money. BetMGM’s offer does not have a maximum win amount on its bonus bets.
  • Bet Type Restrictions: Some promotions only allow certain bet types to be eligible for a promotion or prevent you from using your bonus on certain betting markets. For BetMGM’s offer, any bet type is valid for your first wager and bonus bets can be used on any market.

How We Evaluate Betting Promotions

While we don’t have a formal rating for sports betting promotional offers, we only write about consumer-friendly signup offers regarding the following criteria.

  • Size of offer: Sports betting signup bonuses range from $100 to $1,500. The size is important, but it depends on the type of the offer. Regardless of size, a sports betting signup offer can give you some cushion for your first betting experience. Remember, these offers are one-time deals.
  • Offer format: Most sportsbooks offer a so-called “bet & get” offer, where if you make a wager, you will receive so-called bonus bets. These wagers are in the form of site credit. Sometimes, your bet must win to claim the site credit. Other sportsbooks will offer a so-called free bet where you can get a refund in the form of site credit if your first wager loses. Both have their advantages.
  • Time to receive site credit: It’s better if you receive your site credit immediately rather than having to wait 2-3 days. This can be relevant to your betting experience. However, all sportsbooks issue site credits in a timely manner.
  • Odds requirement: It’s always better if the promotion doesn’t stipulate a minimum or maximum odds for your qualifying wager.

Some sportsbook signup offers are slightly better than others, but you can claim one new user offer at each sportsbook. You should claim each site’s offer if you want to try out multiple sports betting sites.

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