If your first qualifying bet loses and it is in an amount greater than $50, you will receive five (5) FreeBets back in equal denominations of 20% of the total amount of the qualifying bet up to $1,000. If your qualifying bet loses and it is less than $50, you will receive a single FreeBet back in a single denomination equaling the total amount of the qualifying bet. Example: If you place a $1,000 qualifying bet and your bet loses, you will receive five (5) $200 FreeBets. If you place a $49 bet and lose, you will receive one $49 FreeBet. FreeBets must be used within 7 days of them being credited to your account. Each FreeBet can only be placed as one straight bet or one parlay and cannot be split between various bet placements.
Terms and conditions apply
New User Bonus
You usually see either a risk-free bet offer or a deposit match from sportsbooks for new users. BetMGM has an average sign-up bonus offering a $1,000 risk-free bet for new users. It’s a bump up from the lowly $600 they were offering for a while.
With the risk-free bet, you only get money back if your first bet loses, and they match your first bet up to $1,000. There are no minimum or maximum odds restrictions on your first bet, which is nice since sign-up promos usually feature those. While that’s admirable insurance, it rewards you with nothing if your first bet hits. For that reason, deposit matches are generally slightly more appealing.
The problem with deposit matches from other sportsbooks is that they usually only match a percent of your first deposit (usually around 20%) up to an amount, making it necessary to drop about $5,000 in a first deposit to get a maximum bonus. So, the sign-up perks are minimal all around. Sportsbooks simply don’t hand out gobs of free money often as their promotions imply.
Ongoing Promos and Contests
BetMGM has a large selection of ongoing event and sport-specific promotions on par with industry leaders. They offer parlay insurance and odds boosts for specific leagues or games as well as risk-free bet tokens if certain prop bets are graded losers such as first TD scorer.
For an up-to-date list, check out the official BetMGM promos page. Promos are state-specific so you may see things publicly promoted that aren’t offered in your state. Here are a few examples of their ongoing promotions.
Money Monday Club
All members of the Money Monday Club — free opt-in available in your account — receive $10 in free bets every Monday if they placed at least $50 in qualifying wagers the previous week. Whether you won, lost, or broke even the previous week, you start with a $10 free-bet bonus every week.
King of the Weekend
With King of the Weekend, you can win $50,000 in cash without wagering a penny. Throughout the NFL season, if you predict the six highest-scoring teams, in order, from a group of five games each week, you’ll win $50,000. Even if you miss games, you can win $1,000 in cash and up to $250 in free bets if you beat other contestants but don’t get all six in order.
This is one of the more entertaining and unique interactive promos in the industry. Pay homage to ‘90s retro video games and legendary running back Barry Sanders in a completely free-to-play game. If you score a touchdown, you’ll win a free bet, parlay boost, or risk-free token for online betting at BetMGM. You can play each week of the football season.
• Wide variety of sports with live-streaming ability.
• Daily odds boost for the biggest sports but low maximum bets on boosts limits advantage.
• Up to $1,000 in referral bonus potential ($50 per referral who makes a deposit).
• Early cash out.
• Parlay Plus promotion: Create a 4-7 leg parlay with any eligible sports or events, and you can earn 40% more on successful parlays.
• Overtime Insurance for NFL: You get $25 in free bets returned if your moneyline or point spread NFL wager is graded a loser in overtime.
• Play-by-play specials that allow you to predict the outcome of a single drive or at-bat.
In What States is BetMGM Available?
Currently, the ever-growing list includes Michigan, Nevada, New Jersey, Iowa, West Virginia, Indiana, Tennessee, Colorado, Virginia, Pennsylvania, Mississippi, New York, Louisiana, and Arizona. As one of the top-five sportsbooks in the U.S., BetMGM has a broad reach across states where betting is already legal, and it will continue to be one of the first books established for new states.
Sports Covered at BetMGM
BetMGM covers pretty much every sport under the sun that you would be interested in betting on. Their A-Z list includes Alpine skiing, badminton, baseball, basketball, biathlon, boxing, cricket, cross-country skiing, cycling, darts, football, Formula 1, golf, handball, hockey, lacrosse, MMA, NASCAR, pool, Rugby League, Rugby Union, snooker, soccer, table tennis, tennis, volleyball, and water polo. They also have a “specials” section that features cross-sport parlays.
Quality of Odds at BetMGM
You’ll see pretty standard odds at BetMGM powered by Entain’s software. They will open the market on occasion or be one of the first books to offer lines on major sports, so at times you can get an early advantage with them. They also have been known for having some of the most competitive odds on their live betting platform.
Online and Mobile Betting Experience at BetMGM
BetMGM offers an average browsing experience on their desktop, app, and mobile platforms. Most users report it to be slower functioning than rivals such as DraftKings and FanDuel, but that is usually subjective to individual users’ internet speeds. BetMGM offers a search feature, which is convenient as this is a fundamental feature missing in many books. Unfortunately, it can be unreliable, making specific bets like player props harder to find.
BetMGM offers one app regardless of location, while their online platform offers separate platforms per state. Mobile alerts for games you have action on is a favorite feature for users as well. Their mobile app has a 4.8 out of 5 on the Apple App Store but just 2.9 out of 5 on Google Play/Android.
Live betting and live streaming is a critical area for many users, and BetMGM generally seems to excel here. Their odds can be some of the best on live betting. They also have a wide variety of in-game player props, which not all sportsbooks feature. Their user interface isn’t the best, but it becomes easier to get around if you consistently use their platform.
Other Gaming Options at BetMGM
Given its roots in casinos and resorts, it shouldn’t come as a surprise that BetMGM offers one of the better online casino platforms in the industry. BetMGM Poker and partners Borgata Poker, and partypoker took New Jersey’s top position in online poker in late 2021. It reported over $1 million in the month of September 2021 alone. Online casino games are still one of the most significant sources of user complaints, which is pretty standard amongst all sportsbook platforms that offer games like blackjack and roulette, so play at your own risk.
BetMGM launched its first horse-racing app in Ohio in November 2021 that lets users bet on races at over 200 tracks worldwide. While betting on sports teams isn’t legal yet in the Buckeye State, betting on horse racing is. This gives BetMGM an early advantage in Ohio, and they plan to analyze the product’s launch there before making it widely available across other markets soon. “In partnership with NYRA Bets, we’ve created an innovative digital experience for horse racing fans and anticipate the platform’s future launch in additional states,” said BetMGM CEO Adam Greenblatt.
BetMGM has a generally favorable reputation amongst casual bettors. They’re a leading sportsbook in the U.S. and have a wealth of experience in gaming, thanks to their foundation in casinos and resorts. The biggest problem you will run into with BetMGM is that they quickly limit bettors who get hot. This is a trend amongst the major sportsbooks in the industry where they like to sort out the sharps or anyone lucky enough to go on a tear and cater towards the more inexperienced crowds. They offer a wealth of promos, but most are low-value plays with limited profitability. If BetMGM wants to gain ground and separate itself from leading sportsbooks like DraftKings, FanDuel, and Caesars, they will benefit from eliminating limits and retaining regular bettors.
BetMGM Company History
BetMGM was born out of a partnership between MGM Resorts International (NYSE: MGM) and London-based Entain Plc (LSE: ENT). BetMGM’s parent company, MGM Resorts International, has been known for its gambling expertise in the US for more than 30 years. That experience has translated well with the evolution of iGaming as BetMGM is the largest iGaming operator across the US with a 32% share as of Oct. 2021.
The company expanded into the sports betting industry in July 2018 when it partnered with the UK gambling operator GVC Holdings. The two sides formed a joint venture called Roar Digital in January 2019. Together, they launched the BetMGM Sportsbook app in New Jersey in August 2018. Also, the online sportsbook helps service the retail-based Borgata Casino in Atlantic City.
BetMGM closed 2020 with $178 million in net revenue, beating its targeted range of $150 million to $160 million. That doesn’t mean it’s profitable, of course, as they lost $114 million in 2020 split between Entain and MGM.
In February 2021, BetMGM maintained a total market share of 22% in all U.S. jurisdictions where the company is currently active. BetMGM delivered Q3 revenues of more than $200 million, according to Entain’s Q3 results in 2021. That was good for a? 26% share of markets where BetMGM is active. For comparison, DraftKings expects to generate ±$230 million in total Q3 revenues for 2021.
After Q3 revenues were posted for Entain in 2021, CEO Jette Nygaard-Andersen stated, “we can see we are clearly starting to challenge for the number one market position nationwide.” After these earnings were released, Shore Capital pegged BetMGM’s value at ±$11 billion. Within a month of opening, Arizona sports betting was already BetMGM’s largest state in terms of active players.
In November 2021, BetMGM, Madison Square Garden Sports Corp., and Madison Square Garden Entertainment Corp. announced a partnership after BetMGM became one of nine betting brands to secure a mobile operator license from the New York State Gaming Commission (NYSGC).
BetMGM projected net revenue of $1 billion for Fiscal Year 2022 while increasing its long-term U.S. market share guidance.
This is one of the most glaring issues with BetMGM, and it is shocking they haven’t made a more convenient way to connect with their players yet. Their live chat feature is difficult to find on their website, they offer an array of customer support emails per state depending on your issue, and they have no phone number. Even in app store reviews, you see most sportsbooks have at least bots with automated responses to customer complaints. BetMGM offers none. It’s an unfortunate downside that is surely hurting customer retention in a fiercely competitive landscape.