The Best Legal Sports Betting Bonus To Claim Right Now
Mon, Dec 19, 2022
by
CapperTek
Legal online sports betting is one of the most competitive markets in the United States. Depending on the state you are located in, the number of sports betting apps you can sign up with could become overwhelming.
It would be in your best interest to narrow down your choices by choosing deciding factors. These may include a variance of sports to bet on, betting types, and banking options.
However, we all know why we bet on sports. While there is an adrenaline rush involved, the bottom line is nine times out of 10 winning money, which is why the most important deciding factor when it comes to signing up for a new sportsbook is the new user welcome bonus.
Why Do Sports Betting Apps Feature New User Welcome Offers?
Of course, sports betting apps have a motive when deploying generous new user welcome offers. With so much competition in the space, they use these attractive offers to entice new users to sign up and bet on their platform.
This is good for the customer because it essentially puts proverbial free money in your hands in the form of risk-free bets, bet-and-gets, and deposit match offers.
While bet-and-gets and deposit offers are outstanding, the most common type of welcome offers you will find are risk-free bets, like the one you get with the BetMGM bonus code.
Get A $1,000 Risk-Free Bet
The BetMGM Bonus Code is one of the best bonus codes on the market because it gives new users who sign up today a risk-free bet worth up to $1,000. This means that BetMGM will cover the full stake of your first bet for up to $1,000 in free bets if it settles as a loss.
While you can use this bonus code to bet on any open sports betting market offered at BetMGM with no restrictions on odds or bet type, there is one significant part of this offer that sets it apart from the other top sports betting welcome offers on the market.
With some of the other offers on the market, you must use your free bet credits all at once. That is not the case with this bonus code. Instead, BetMGM will distribute your free bets in two different ways, depending on the value of your losing first bet’s stake.
If the stake of your losing first bet is less than $50, you will get one free bet equal to that amount. However, if the stake of your losing first bet exceeds $50, then you will get five free bets equal to one-fifth of your losing first bet’s stake each.
For example, if you max out the welcome offer and place a $1,000 first bet and it settles as a losing wager, you will get five free bets worth $200 each rather than getting one free bet worth $1,000.
How Do I Use This Betting Promo?
When it comes to using the BetMGM Bonus Code, the power is in your hands to use it any way you like, with ultimate flexibility.
There are multiple ways you can deploy your $1,000 risk-free bet welcome bonus, depending on the type of bettor you are.
First, you can play it safe and make a traditional straight wager and attempt to grow your while not taking that much of a risk. For example, if you see a player prop that you like with -110 odds, you can choose to use your risk-free bet on that market.
If you place a $500 bet on this prop and it settles as a winner, you will get a $954.54 cash payout. And if you initially made a $500 deposit, you nearly double your bankroll right out of the gate with minimal risk involved.
You can also go another route and try to break the book with a moonshot parlay bet. We all know that parlay bets are risky because they involve you combining multiple individual bet selections into one betting slip. And to win your parlay bet, each bet selection inside of your parlay bet must settle as a winner.
The downside is if even one of those bet selections inside of your parlay bet settles as a loss, your entire parlay ticket is cooked.
The best part is, with risk comes reward. Parlay bets have outstanding payouts if your reads are correct.
For example, if you construct a three-leg parlay with +621 odds, you will amass a $3,105.12 payout when you stake $500 and your parlay settles as a winner.
Going this route could immensely expand your bankroll in one fell swoop.
Regardless of what type of bet you decide to make, BetMGM will cover the full stake of your first bet in free bets for up to $1,000, thanks to the BetMGM Bonus Code.
Any time you sign up for a new sportsbook, it would be in your best interest to not only take advantage of the welcome offer, but you should also maximize the offer to the best of your ability.
Sportsbooks already have the house advantage, so you don't want to leave any money on the table, especially when the operator is trying to give you some.