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250 Welcome FS
Author Updated: August, 2026
Written by: Filip Gromovic | Reviewed by: Nashon Khamala
The BetMGM “bet $10, get $200” promotion is no longer active. BetMGM retired this $200 bonus in late 2024 and replaced it with two separate promos: a $1,500 first-bet refund available in most legal sports betting states, and a “bet $10, get $150 in bonus bets” deal restricted to Michigan, New Jersey, Pennsylvania, and West Virginia. Both require a new user account and a minimum $10 first deposit. This page covers what the original $200 bonus offered, what replaced it, and which current BetMGM promo code fits your sports betting style. Last verified on August, 2026.
When active, the BetMGM $200 bonus credited $200 in bonus bets to new user accounts after a single $10 qualifying wager – win or lose. That “win or lose” mechanic was what set it apart: every new user who placed an initial bet of $10 on any eligible sport received $200 in bonus bets regardless of the outcome. The total risk was $10. The total reward was $200 in non-withdrawable bonus bets – often called BetMGM 200 free bets – that could generate real, withdrawable winnings from sports betting.
BetMGM discontinued the promo because the economics were unsustainable at scale. A guaranteed $200 bonus return on a $10 bet produced a 20:1 value ratio – the highest of any major US sportsbook deposit bonus at the time. Competing operators like FanDuel and DraftKings ran similar “bet $5, get $200” structures during the same period, and most have since moved to conditional promos that depend on your first-bet winning or losing.
Several affiliate pages still advertise the BetMGM promo $10 for $200 as active. If you encounter a site promoting a bet $10, get $200 BetMGM deal with a promo code, verify the claim directly on BetMGM’s promotions page before registering. Using a code tied to an expired promotion does not void your BetMGM Sportsbook account, but it means you receive the current default promo instead – and you cannot claim a second bonus later. Register once, on the promo you intend to use.
BetMGM now runs multiple sportsbook promos simultaneously, split by state. New users who sign up with BetMGM can only claim one. Choosing between them depends on how much you plan to wager on your initial bet and whether you prefer a guaranteed refund or higher upside with more risk in your sports betting.
| Offer | States | Condition | Bonus value |
|---|---|---|---|
| $1,500 First-Bet Refund | AZ, CO, DC, IL, IN, IA, KS, KY, LA, MA, MD, MI, MO, MS, NJ, NY, OH, PA, TN, VA, WV, WY | If first bet loses, stake redeemed for bonus bets (up to $1,500 in bonus bets) | Up to $1,500 |
| Bet $10, Get $150 in Bonus Bets | MI, NJ, PA, WV | First $10 bet must win to receive bonus | $150 (3 × $50 bonus bets) |
| $1,000 No Sweat Bet Tokens | AZ, CO, DC, IA, IL, IN, LA, KS, KY, MD, MO, NC, OH, TN, VA, WY | Up to $1,000 in no sweat bet tokens over 10 days | Up to $1,000 |
| Bet $10, Get $200 Bonus (expired) | Previously all states | Win or lose – guaranteed | $200 |
You can only pick one deposit bonus per account. Multiple BetMGM promo codes may be available, but only one applies at registration. Promos subject to change – confirm on BetMGM.com before signing up.
The $1,500 first-bet refund is the closest replacement for bettors who valued the old $200 bonus deal’s risk protection. If your initial bet loses, BetMGM returns the full stake redeemed for bonus bets – split into five equal denominations of 20% each. A $100 bonus losing bet returns as five $20 bonus bets. The upside ceiling is higher than the old $200 promo, but the mechanic is different: you only receive bonus bets if your first bet loses. Win your first-bet, and the promotion ends with your profit – no bonus bets are credited.
The bet $10, get $150 in bonus bets promo is structurally closer to the original $200 deal but carries one critical difference – your first qualifying bet must win. That condition flips the risk profile entirely. Under the old promo, every new user received $200 regardless. Under the $150 in bonus bets version, bettors who lose their initial bet receive nothing. For sports betting fans comfortable picking a heavy favourite at short odds on a parlay or moneyline, the $150 deal delivers strong value on a small outlay. For those who prefer a refund over a conditional reward, the $1,500 first-bet promo is the better fit.
The registration process applies to both current promos. Choose which deposit bonus you want before you begin – you cannot switch after your account is created, and entering the wrong BetMGM promo code locks you into a different promo with no option to reclaim.
Eligibility has four requirements that each must be met simultaneously. Missing any one of them disqualifies you from the promo with no way to reclaim it later.
New user accounts only. The deposit bonus is restricted to first-time BetMGM Sportsbook users. If you have an existing account – active, inactive, or previously closed – you are not eligible. This includes accounts created for BetMGM Casino; depending on your state, a casino account and a sportsbook account may share the same login, and a prior sports and casino registration can disqualify you from the sportsbook promo.
Age and location. You must be 21 or older (18+ in select states for horse racing only, which does not apply to this promo) and physically located in a state where legal sports betting through BetMGM operates. BetMGM is currently live in Arizona, Colorado, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Mississippi, Missouri, New Jersey, New York, Ohio, Pennsylvania, Tennessee, Virginia, Washington D.C., West Virginia, and Wyoming. The promotional promos are not available to players in D.C., Mississippi, New York, Nevada, Ontario, or Puerto Rico on a rotating basis – confirm your state’s current promo before registering.
Minimum deposit. A $10 minimum first deposit is required regardless of which promo you choose. Depositing less than $10 does not activate the promotion, and there is no retroactive credit if you deposit more later.
First bet as qualifying wager. Your very first real-money bet on the BetMGM bet slip triggers the promotion. If you place a $2 bet before your intended qualifying wager, that $2 bet counts as your initial bet – and the promo activates (or fails to activate) based on that $2 outcome. There is no way to reset. Size your initial bet deliberately before adding it to the bet slip.
The post-bet mechanics differ depending on which promo you selected. For any bettor, understanding the payout structure before placing a bet – not after – is the difference between using the bonus effectively and losing value to misunderstanding.
If your first-bet wins, you keep your profit and your stake. No bonus bets are credited. The promotion is complete. If your first bet loses, BetMGM returns your stake as a refund in bonus bets – split into five equal denominations, each worth 20% of your original wager. A $500 losing initial bet returns as five $100 bonus bets. A $50 bonus losing bet returns as five $10 bonus bets.
| Initial bet amount | If you win | If you lose | Bonus bet denominations |
|---|---|---|---|
| $10 | Keep profit, no bonus | $10 in bonus bets | 5 × $2 |
| $100 | Keep profit, no bonus | $100 bonus in bonus bets | 5 × $20 |
| $500 | Keep profit, no bonus | $500 in bonus bets | 5 × $100 |
| $1,500 | Keep profit, no bonus | $1,500 in bonus bets | 5 × $300 |
The five-denomination split is worth understanding before you place your first wager. Each bonus bet must be used as a single stake on the bet slip – you cannot combine two $100 bonus bets into a $200 wager. That means five separate bets, each with its own outcome. Diversifying across different sports betting markets or building a parlay with each bonus bet reduces the chance of losing all five, but also reduces the chance of a single large payout. Plan your five bonus bets as a mini-portfolio – consider mixing straight bets and parlays rather than making five random picks.
If your $10 initial bet wins, BetMGM credits $150 in bonus bets to your account as three $50 bonus bets – in addition to the profit from your winning wager. If your $10 bet loses, you receive no refund. The $10 is gone and no bonus bets are issued. This is the critical distinction from the old $200 bonus, which paid out regardless of the result.
To tilt the odds in your favour on this promo, consider placing your $10 initial bet on a heavy favourite with short odds – for instance, a -500 moneyline in an NBA or NFL game, or even a two-leg parlay of strong favourites. The potential profit on a $10 bet at -500 is only $2, but the real value is the $150 in bonus bets that activates on any win. The $2 profit is irrelevant compared to $150 in sports betting credit. Pick the safest bet on your bet slip, not the most exciting.
Bonus bets are not cash and cannot be withdrawn. When you place a bonus bet and it wins, you receive the net profit only – the bonus bet stake is not included in your payout. A $50 bonus bet at +150 odds that wins returns $75 in withdrawable cash (the $75 profit), not $125. This applies to all BetMGM bonus bets and bet tokens regardless of the promo they originated from.
All bonus bets expire 7 days after they are credited. Set a reminder. Unused bonus bets are forfeited with no extensions. If your qualifying bet settles on a Wednesday and bonus bets are credited Thursday, they expire the following Thursday. Use them within the first 3–4 days to give yourself time to find sports betting markets worth placing a bet on – parlay opportunities during busy sports weekends work well – rather than rushing on day 7.
The old BetMGM promo $10 for $200 was one of the strongest sportsbook promos in the US sports betting market. The current replacements sit in the middle of the pack – competitive but no longer category-leading. Here is how BetMGM’s August, 2026 promos compare to the other major operators in this BetMGM Sportsbook review.
| Sportsbook | Qualifying bet | Bonus value | Condition |
|---|---|---|---|
| BetMGM | $10 | $150 (select states) | First bet must win |
| BetMGM | Up to $1,500 | Up to $1,500 refund | First bet must lose |
| DraftKings | $5 | $200 bonus + NFL Sunday Ticket discount | Guaranteed (bet $5) |
| Bet365 | $5 | $200 | Guaranteed |
| FanDuel | $5 | $300 | First bet must win |
DraftKings and Bet365 offer the closest equivalent to the old BetMGM bet $10, get $200 deal – both guarantee bonus bets on a $5 wager regardless of outcome. For sports betting players specifically looking for the “bet small, get bonus bets guaranteed” structure, DraftKings is currently the strongest option. BetMGM’s $1,500 first-bet refund appeals to a different bettor profile: those willing to wager $200–$1,500 on their initial bet who want downside protection if it loses. You can also explore no deposit casino bonuses if you prefer to start without risking any money at all.
FanDuel’s $300 bonus requires a winning first bet, similar to BetMGM’s $150 in bonus bets promo but at a higher value and a lower qualifying bet ($5 vs. $10). If you are in a state where both are available and prefer the “win to earn” mechanic, FanDuel currently delivers better value per dollar risked. Bettors who want to maximise parlay opportunities with their bonus bets should compare each sportsbook’s parlay rules – BetMGM also allows parlay wagers with bonus bets, as do FanDuel and DraftKings.
Three terms trip up the majority of new BetMGM users. Reading them before you register – not after your initial bet settles – prevents the most common complaints.
Bonus bets are non-withdrawable. You cannot cash out bonus bets directly. Only the net profit from a winning bonus bet is added to your withdrawable balance. The stake itself – whether it is a $50 bonus bet or a $300 bonus bet – is consumed when used and not refunded. This means the effective value of $150 in bonus bets is not $150 in cash. At average sports betting market odds and a reasonable win rate, $150 in bonus bets converts to roughly $60–$90 in withdrawable profit over the course of three bets. Calibrate your expectations to net winnings, not the headline bonus number.
7-day expiry with no extensions. Every bonus bet issued under a BetMGM promo expires exactly 7 days after it is credited. There is no pause button, no rollover request, and no customer service exception. If you claim the deposit bonus during a slow sports week and cannot find bets you like on the bet slip, the bonus bets expire unused. Time your registration around a busy sports calendar – NFL Sundays, NBA playoff weekends, Premier League Soccer matchdays, or major tennis tournaments provide ample markets and parlay options to choose from within the 7-day window.
One promo per person, per lifetime. BetMGM tracks accounts by name, SSN, and address. Creating a second account to claim a second deposit bonus violates the terms and typically results in both accounts being closed and all balances – including deposited funds – being forfeited with no refund. If you previously opened a BetMGM account in another state and did not use the promo, you are still ineligible. The system registers your first account creation, not your first bet.
Your very first real-money wager on BetMGM – regardless of amount – counts as your first qualifying bet. If you place a $1 bet to “test the app” before your planned $500 first-bet, that $1 wager is your qualifying bet. Bonus bets if your first bet loses will be based on that $1 – not $500. There is no reset. Decide your bet before you tap “Place Bet” for the first time on the bet slip.
After using your deposit bonus, BetMGM also offers several ongoing promotions for existing users. These promos rotate by sport and season, but several core promos remain available to players year-round.
Refer a Friend. BetMGM pays a $100 bonus for each friend you refer who creates a verified account and meets the qualifying requirements. You can refer up to 20 friends per month – a potential $2,000 monthly ceiling. Both you and your friend will receive the bonus, making this one of the higher-value referral promos among US sportsbooks.
Odds Boosts. Daily boosted odds on selected sports betting markets, typically increasing potential payouts by 15–50% on specific bets. Boosts are pre-selected by BetMGM and posted in the “Boosts” tab of the app. They change daily and tend to focus on major games in the NFL, NBA, MLB, and soccer during their respective seasons. BetMGM also features parlay boosts on multi-leg bets during marquee sports weekends. Not every boost offers genuine value – compare the boosted line against other sportsbooks before assuming it is a deal.
No Sweat Tokens and Second Chance Bets. These periodic promos give existing users a safety net on specific bets – if the bet loses, BetMGM returns the stake as a refund in the form of a bonus bet or token for another wager. Availability varies by state and week; check the Promotions tab in the app regularly. BetMGM also runs parlay-specific promos where a losing leg in an otherwise winning parlay triggers a partial refund.
BetMGM Rewards and the MGM Rewards program. Every dollar wagered on BetMGM earns BetMGM Rewards points through the MGM Rewards program. Points can be redeemed at MGM Resorts properties for hotel stays, dining, entertainment, and more. For sports betting players who visit Las Vegas or other MGM properties, BetMGM Rewards adds tangible off-platform value that competitors like DraftKings and FanDuel do not offer. Tier status earned online transfers to in-person BetMGM Rewards – a useful perk for frequent bettors who also travel. Access your BetMGM Rewards balance and responsible gambling tools through your account settings on the app.
BetMGM is one of four dominant US sportsbooks alongside DraftKings, FanDuel, and ESPN BET. The platform is operated by Entain in partnership with MGM Resorts International – giving it backing from one of the largest gambling companies in the world and one of the most recognized casino brands in North America. For a broader look at how BetMGM stacks up against other platforms, see our online casinos comparison.
The sportsbook covers a variety of sports including all major US leagues (NFL, NBA, MLB, NHL, college football, college basketball, MMA, golf, tennis) alongside soccer, cricket, and niche markets. Live in-game sports betting is available across most sports with odds that update in real time. Cash-out options – full and partial – let you lock in profit or cut losses before a game ends, though availability varies by market and game state. Parlay builders for combining multiple selections on one bet slip are accessible across all covered sports.
BetMGM’s odds competitiveness sits in the middle of the US legal sports betting market. On heavily bet lines like NFL point spreads and NBA totals, the difference between BetMGM and competitors is typically 1–3 cents of juice. On less popular markets – player props, alternate lines, and lower-tier sports – spreads can be wider. Bettors who shop lines across multiple books will find BetMGM competitive on major events but not consistently best-price across all markets.
Deposit methods include debit cards, ACH bank transfers, PayPal, Venmo, Skrill, Play+ prepaid cards, and cash at MGM casino cages. Withdrawals process within 1–5 business days depending on the method – PayPal and Play+ are generally the fastest (24–48 hours), while bank transfers take 3–5 business days. There are no withdrawal fees from BetMGM’s side, though your bank or payment provider may apply their own charges. For a detailed breakdown of payout options and timelines, see the BetMGM withdrawal guide.
BetMGM Sportsbook is live in 22 US states plus Washington D.C. as of August, 2026. The specific promo available to you depends on your state – the $150 in bonus bets “bet and get” is limited to MI, NJ, PA, and WV, while the $1,500 first-bet refund and No Sweat Tokens promos are available more broadly. Promotional promos are currently not available in D.C., Mississippi, New York, Nevada, Ontario, or Puerto Rico – though BetMGM Sportsbook itself may still be operational in some of those jurisdictions for sports betting.
You must be physically located in an eligible state at the time of placing a bet. Registering your account from one state and betting from another is permitted as long as the state you are betting from is a legal sports betting market with BetMGM. Your account travels with you – no need to create separate accounts for different states.
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Filip Gromovic is a senior slots reviewer here at FreeSlots99 with over five years of experience evaluating the latest drops in the world of iGaming.
Being a slot fan himself, Filip approaches slot ratings just the way we like it – professionally, but also from a player’s standpoint.
That enables him to give his unbiased take on the slot’s features, gameplay and design, while only recommending top-tier releases to our readers.
More info on Filip Gromovic
Having served FreeSlots99 for more than 5 years as a senior content editor and reviewer, Nashon Khamala has extensive knowledge in game slots and iGaming.
His membership in the Editorial Freelancers Association helps him deliver content that reaches both editorial excellence standards and an engaging information level.
By using his expertise in slots games combined with player-focused analysis, Nashon delivers a professional evaluation of slot features and player experiences in his reviews.
More info on Nashon Khamala
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