BetMGM New User Promo: How to Claim up to $1,500 in Bonus Bets

I signed up and tested the BetMGM new user promo to see how the welcome offer works for first-time bettors. Using the BetMGM new user promo code SI1500, I placed my first wager and will explain how my initial stake was refunded in bonus bets under the terms of the second-chance offer after the bet was lost. Below, I break down everything you need to know about the promo.

Note: In Michigan, New Jersey, Pennsylvania, and West Virginia, the BetMGM welcome offer lets new users bet $10 and get $150 in bonus bets if their qualifying wager wins.

Table of contents

1. How the BetMGM new user promo actually works
2. How to claim the BetMGM new user promo
3. How to use your BetMGM welcome bonus
4. Is the BetMGM welcome offer is right for you?

Bonus bet: A promotional wager issued after you qualify for the BetMGM new user promo. Bonus bets can be used on eligible wagers and typically convert to winnings based on the offer terms.

Minimum odds: The lowest odds required for your qualifying wager to count toward the BetMGM welcome offer.

Qualifying wager: The initial real-money bet required to activate the BetMGM new customer promo after entering promo code SI1500 and depositing the minimum amount.

The BetMGM new user promo is centered around second chance bets that give new players protection on their opening wager. Most states receive the primary BetMGM welcome offer, while a smaller group of states have access to a different BetMGM new customer promo structure.

Below is a closer look at how each version of the BetMGM bonus code bonus works.

Up to $1,500 in bonus bets

This is the main BetMGM first-time promo available in most states. After registering with the BetMGM new user promo code SI1500, your first wager is protected if it loses.

Instead of losing your entire stake, BetMGM refunds the wager as bonus bets, up to $1,500.

How it works:

1. Sign up and enter the BetMGM new user promo code SI1500.
2. Deposit at least $10 into your account.
3. Place your first real-money wager.
4. If the bet loses, your stake is returned as bonus bets (up to $1,500).
5. Use those bonus bets on future wagers to generate cash winnings.

Key terms and conditions:

💰 Maximum refund: $1,500 in bonus bets.

🎯 No minimum odds requirement on the qualifying bet.

🆕 Available to new BetMGM customers only.

🔁 Bonus bets have a 1x playthrough requirement.

📌 Bonus bets convert to cash winnings (stake not included).

⚠️ Your first wager must lose to trigger the bonus.

Example scenarios

Example 1: Bet under $50

Let’s say your first bet is $40 on an NBA spread at -110 odds.

• If the bet wins, you keep your profit and your $40 stake, but you won’t receive any bonus bets.
• If the bet loses, BetMGM refunds your $40 as one $40 bonus bet.

You can then place that bonus bet on another market. If it wins, you keep the profit from that bet.

Example 2: Bet over $50

Now imagine you place a $200 first bet on an NFL moneyline at +120 odds.

• If the bet wins, you keep your profit, and the promotion ends.
• If the bet loses, BetMGM refunds the $200 as five $40 bonus bets (20% of the original wager).

For the second scenario, if your bet loses, you can then can use each of those bonus bets on separate wagers.

Bet $10, get $150 in bonus bets if you win (select states)

In Michigan, New Jersey, Pennsylvania, and West Virginia, the BetMGM new user promo follows a simpler bet-and-get format.

With this BetMGM new customer promo, you place a small qualifying bet and unlock bonus bets if the wager wins.

How it works:

1. Sign up and enter the BetMGM new user promo code SI1500.
2. Deposit at least $10.
3. Place a $10 first bet on any eligible market.
4. If the bet wins, you receive $150 in bonus bets.
5. Your bonus bets will expire in seven days.

Key terms and conditions:

💰 Bet $10 to qualify.

🎯 No minimum odds requirement.

🎁 Receive $150 in bonus bets if your bet wins.

⏳ Bonus bets expire 7 days after being issued.

📌 Bonus bet stakes are not included in winnings.

How to use your BetMGM bet $10, get $150 bonus bets offer

Let’s say you place a $10 bet on an NBA moneyline at -150 odds.

• If the bet wins, you receive your normal profit plus $150 in bonus bets.
• If the bet loses, the promotion ends and no bonus bets are awarded.

Both versions of the BetMGM welcome offer are straightforward, but they reward slightly different betting styles. The second-chance bet provides insurance on a larger wager, while the bet $10, get $150 version offers a simple path to bonus bets with minimal risk. 

You can get the full breakdown of this sportsbook by reading our complete BetMGM review.

Claiming the BetMGM new user promo for up to $1,500 in bonus bets only takes a few minutes, and the process is straightforward as long as you follow the correct steps. You’ll need to register a new account with BetMGM, enter the BetMGM new user promo code, and place your first qualifying wager to activate the welcome offer.

Follow these steps to unlock the BetMGM welcome offer:

1️⃣ Click or tap a link on this page. Starting from an eligible link ensures your account qualifies for the current BetMGM new customer promo.

2️⃣ Create a new BetMGM account. Enter your personal details, choose a username and password, and complete the registration process. You’ll also need to verify your identity before betting.

3️⃣ Enter the BetMGM new user promo code. During registration, input the BetMGM new user promo code SI1500 to activate the welcome offer tied to this page.

4️⃣ Make a deposit of at least $10. This amount must be met to activate the BetMGM first-time promo.

5️⃣ Place your first real-money bet. Once your deposit is complete, place your first wager using cash from your account balance. There are no minimum odds requirements for this qualifying bet.

6️⃣ If your bet loses, receive bonus bets. If your first wager settles as a loss, the BetMGM new user bonus returns your stake as bonus bets, up to $1,500.

7️⃣ Use your bonus bets to continue wagering. Bonus bets carry a 1x playthrough requirement and convert to cash winnings when used on qualifying bets.

Important things to know

✅ Your first bet determines the size of the bonus

The value of your BetMGM welcome offer depends on the size of your first wager, up to the $1,500 maximum.

✅ Bonus bets are structured based on wager size

If your first bet is $50 or less, you’ll receive one bonus bet equal to your stake. For bets over $50, the bonus is split into five bets worth 20% of the qualifying wager.

⚠️ Bonus bets only trigger if the first bet loses

If your first bet wins, you keep the profit and stake, but the BetMGM new customer promo will not issue bonus bets.

After triggering the BetMGM new user promo, you’ll receive bonus bets that can be used on future wagers. These bonus bets function a little differently from cash bets, so using them strategically can help maximize the value of the BetMGM welcome offer.

To illustrate how it works, I’ll walk through how I approached the bonus after placing a full qualifying wager with BetMGM.

BetMGM bonus bets: What to know

Before using bonus bets, there are a few important mechanics to keep in mind:

My BetMGM bonus bet strategy

I used the full $1,500 BetMGM first-time promo for my opening wager. When that bet lost, BetMGM returned the stake as five $300 bonus bets.

Instead of chasing longshots, I focused on bets around +100 odds. My goal was simple: give myself a reasonable chance to recover most (or all) of the original wager while still taking advantage of the bonus structure.

Example bonus bet breakdown

Because the stake is not returned, betting heavy favorites usually delivers less value. That’s why I targeted odds closer to +100, which offered a realistic chance to win while still generating meaningful profit.

Results and potential return

Since my first wager was $1,500 and it lost, I got five $300 bonus bets to use.

Since bonus bets only pay out profit:

• The +105 win returned $315
• The +110 win returned $330
• The +115 win returned $345

Total return: $990 in withdrawable cash

While that doesn’t fully recover the original $1,500 wager, hitting three of five bets still converted a large portion of the BetMGM new customer promo into real winnings.

What I focused on when using the BetMGM new user promo

When I used the BetMGM new user bonus, my approach was to:

✅ Target odds close to +100 for balanced risk

✅ Split the bonus across multiple sports and markets

✅ Avoid parlays and stick to straight bets

Spreading the wagers across different games helped reduce variance and gave me multiple opportunities to convert the bonus into cash.

My recommendation

If you trigger the BetMGM welcome offer and receive bonus bets:

🎯 Look for plus-money wagers around +100 to +150

📅 Use the bonus bets across different games or days to avoid stacking risk on one slate

🧠 Focus on markets you understand well

The BetMGM new user promo can deliver solid value when approached with a plan. Even a few winning wagers can turn bonus bets into meaningful withdrawable cash.

The BetMGM new user promo is built around a first-bet safety net, giving new customers a chance to place an opening wager with protection if it doesn’t go their way. Rather than offering multiple welcome bonuses to choose from, BetMGM keeps things simple with a second-chance bet worth up to $1,500.

Whether this BetMGM new customer promo is a good fit largely comes down to your betting style and how you prefer to approach your first wager.

This BetMGM welcome offer is a good fit if…

✅ You like having protection on your first bet: The BetMGM first-time promo gives bettors a safety net on their opening wager. If the bet loses, your stake is returned as bonus bets, allowing you to stay in action instead of starting from scratch.

✅ You’re planning to place a meaningful first wager: Because the value of the BetMGM new user bonus scales with the size of your first bet, bettors who already planned to place a larger opening wager can get the most out of the promotion.

✅ You want flexibility in how you place your first bet: The BetMGM new user promo code doesn’t restrict minimum odds, giving you freedom to approach your first wager however you prefer.

It may not be the best fit if…

❌ You prefer guaranteed bet-and-get bonuses: Some sportsbooks' welcome offers award bonus bets automatically after a qualifying wager. This BetMGM welcome offer works differently, since the bonus bets only appear if the first wager loses.

❌ You’re only planning to bet small amounts to start: If your first few wagers will be small while you explore the platform, you may not experience the full potential value of the BetMGM new customer promo.

To understand the value of the BetMGM new user promo, it helps to compare it with other major sportsbook promos available to new customers.

The chart below compares common welcome bonuses from other top betting sites:

When evaluating the BetMGM new-user promo, it’s helpful to weigh the offer's overall value and understand how the bonus structure works on sports betting apps like BetMGM. Below, we break down the biggest advantages and potential drawbacks of the current BetMGM welcome offer so you can decide whether it fits your betting style.

Pros

✅ High total bonus value

The current BetMGM new user bonus can return up to $1,500 in bonus bets if your first wager loses. That gives bettors a substantial safety net on their first real-money bet.

✅ No minimum odds requirement

Many sportsbook promotions require minimum odds to qualify, but the BetMGM new customer promo doesn’t include that restriction. You can place your first bet on any market or odds you prefer.

✅ One of the largest new user offers available

In terms of maximum value, the BetMGM first-time promo ranks among the biggest welcome bonuses currently available at BetMGM, making it appealing to bettors who want a larger introductory offer.

Cons

✖ Your first bet must lose to trigger the bonus

Because this BetMGM welcome offer works as a second-chance bet, the bonus bets are only issued if your first wager settles as a loss. If your bet wins, you keep the profit but won’t receive any bonus bets.

✖ Bonus bets come with limited flexibility

The BetMGM new-user promo code structure splits bonus bets based on your wager size. Bets of $50 or less return one bonus bet, while larger wagers are broken into multiple smaller bonus bets, which can limit how you deploy the full value.

✖ Unlocking the full $1,500 requires a large wager

To take full advantage of the maximum BetMGM new user bonus, you would need to place a $1,500 first bet. That’s a significant amount for many new bettors and may be higher than some users are comfortable risking.

Yes, the BetMGM new user promo is definitely worth considering, especially for bettors who are comfortable placing a larger first wager.

The strength of this BetMGM welcome offer comes from its potential value. With up to $1,500 in bonus bets available if your first wager loses, it provides one of the larger safety nets among current sportsbook promos. For bettors willing to take full advantage of the maximum offer, that protection can create significant upside.

That said, the structure may feel less approachable for brand-new bettors who prefer smaller wagers. Unlocking the full value requires a sizeable first bet, and the bonus only triggers if that wager loses. Because of that, some beginner-friendly BetMGM new customer promo alternatives at other sportsbooks may feel easier to start with.

Still, even if you’re planning to bet smaller amounts, the BetMGM first-time promo can deliver solid value. As long as you understand how the bonus bets work and approach your first wager strategically, it’s a strong welcome offer that gives new users a meaningful opportunity to extend their bankroll.