Legal In USA
Verified on Oct. 16, 2026
Last used 22 mins ago
2 min avg claim time
Act fast: Use the verified BetMGM bonus code COVERS1550 to get an exclusive $50 bonus instantly, plus up to $1,500 in bonus bets if your first bet loses. The offer, which ends October 18, requires a $10 minimum deposit and a qualifying, unsuccessful initial wager to be secured.
What is the BetMGM bonus code?
The Covers-exclusive BetMGM bonus code is COVERS1550. BetMGM also advertises its own standard code; however, I've personally verified the Covers code and the current BetMGM offer, which I've outlined below:
| BetMGM bonus details 🏆 | Up to $1,500 offer 💰 |
|---|---|
| ⭐ Covers bonus code | COVERS1550 |
| 💵 Welcome bonus | Exclusive $50 Bonus + Up to $1,500 in Bonus Bets |
| 🆕 New users only | Yes |
| 💲 Minimum deposit | $10 |
| 🏦 Banking options | EDGE Boost, Visa, Mastercard, PayPal, American Express, Play+, eCheck, PayNearMe, online banking, debit cards, Venmo, Apple Pay, VIP Preferred, and instant banking (availability varies by state) |
| 🕙 Bonus expiry | Seven days after receipt |
| 📲 Playthrough requirement | 1x |
| 🔒 Betting restrictions | None |
| 🌎 Eligible states | AZ, CO, DC, IA, IL, IN, KS, KY, LA, MA, MD, MO, NC, OH, TN, VA, WY |
| ✅ Covers verification | Oct. 16, 2026: I've checked the BetMGM registration process, confirmed the promo code COVERS1550 was accepted, compared the offer against BetMGM's terms, and checked state availability. |
How to claim the BetMGM promo code?
Here are the exact steps you need to follow to register with BetMGM and claim the sportsbook's current welcome bonus:
Step 1: Register an account
Download the BetMGM app or go to betmgm.com to get started. Click the gold 'Sign Up' button. Enter your personal information, such as your name, address, email address, phone number, and the last four digits of your Social Security Number.
Step 2: Enter the applicable code
Enter the Covers-verified BetMGM bonus code COVERS1550 when prompted. If you don't do so now, you'll be disqualified from the current BetMGM welcome offer and all future new-user promos. Additionally, you'll receive an exclusive $50 bonus after you register your account.
Step 3: Deposit funds
Choose your preferred deposit option, including credit cards and PayPal. You must deposit at least $10 to qualify for the BetMGM promo.
Step 4: Place your qualifying bet
Place a qualifying wager between $10 and $1,500 on any sport or betting market. If you lose, you'll get your entire stake back in bonus bets.
Step 5: Receive and use the qualifying bonus
If your qualifying wager was $50 or more, you'll get five bonus bets, each equal to 20% of your losing bet. Qualifying wagers of $49 or less will get one bonus bet. You must wager bonus bets once before you can request a withdrawal. Only the winnings from the wager are returned, not the bonus bets themselves.
Expert InsightI downloaded the BetMGM app and created my account. It's very user-friendly. Everything is in clearly labelled sections, which made filling in my info, entering the bonus code, and finding a qualifying wager easy.
You can reach out to BetMGM's customer support team if you have any issues while signing up. My favorite way to reach them is its 24/7 live chat on the site, which connected me with a real human agent in less than three minutes.
What does the BetMGM welcome offer include?
I outline everything you need to know about the available welcome promos that new users can claim today with our eligible BetMGM bonus codes:
COVERS1550 welcome offer terms: Exclusive $50 Bonus + Up to $1,500 in Bonus Bets if the First Bet Loses
- BetMGM bonus code: COVERS1550
- Minimum deposit: $10
- Qualifying wager: $10 to $1,500
- Bonus structure: Five bonus bets each worth 20% of your qualifying stake (for wagers of $50+) or one bonus bet equal to your stake ($49 or less).
- Playthrough requirements: 1x
- Bonus expiry: Seven days from receipt.
- Offer expiry: Oct. 18, 2026
Watch this brief video for a further breakdown of the BetMGM 'Up to $1,500 First Bet Offer' promotion.
Alternative COVERSBONUS offer terms: Bet $10, Get $150 in Bonus Bets
BetMGM has an alternative welcome bonus for new users in Michigan, New Jersey, Pennsylvania, and West Virginia. Here are the terms:
- BetMGM bonus code: COVERSBONUS
- Minimum deposit: $10
- Qualifying wager: $10
- Bonus structure: $150 in bonus bets issued if your qualifying bet wins
- Playthrough requirements: 1x
- Bonus expiry: Seven days from receipt.
- Offer expiry: Nov. 1, 2026
BetMGM promo code by state
BetMGM Sportsbook offers online sports betting in 23 states that allow sports betting, plus DC and Puerto Rico. I've outlined the available welcome bonuses new users in each state can secure from BetMGM today:
| State | Sign-up bonus | Promo code |
|---|---|---|
|
Exclusive $50 Bonus + Up to $1,500 in Bonus Bets
|
COVERS1550 | |
| Exclusive $50 Bonus + Up to $1,500 in Bonus Bets | COVERS1550 | |
| Exclusive $50 Bonus + Up to $1,500 in Bonus Bets | COVERS1550 | |
| Exclusive $50 Bonus + Up to $1,500 in Bonus Bets | COVERS1550 | |
| Exclusive $50 Bonus + Up to $1,500 in Bonus Bets | COVERS1550 | |
| Exclusive $50 Bonus + Up to $1,500 in Bonus Bets | COVERS1550 | |
| Exclusive $50 Bonus + Up to $1,500 in Bonus Bets | COVERS1550 | |
| Exclusive $50 Bonus + Up to $1,500 in Bonus Bets | COVERS1550 | |
| Exclusive $50 Bonus + Up to $1,500 in Bonus Bets | COVERS1550 | |
| Maryland | Exclusive $50 Bonus + Up to $1,500 in Bonus Bets | COVERS1550 |
| Massachusetts | Exclusive $50 Bonus + Up to $1,500 in Bonus Bets | COVERS1550 |
| Bet $10, Get $150 in Bonus Bets If You Win | COVERSBONUS | |
| No welcome bonus offered | No code available | |
| Exclusive $50 Bonus + Up to $1,500 in Bonus Bets | COVERS1550 | |
| $250 Back in Bonus Bets | COVERS250 | |
| Bet $10, Get $150 in Bonus Bets If You Win | COVERSBONUS | |
| No welcome bonus offered | No code available | |
| Exclusive $50 Bonus + Up to $1,500 in Bonus Bets | COVERS1550 | |
| Exclusive $50 Bonus + Up to $1,500 in Bonus Bets | COVERS1550 | |
| Bet $10, Get $150 in Bonus Bets If You Win | COVERSBONUS | |
| No welcome bonus offered | No code available | |
| Exclusive $50 Bonus + Up to $1,500 in Bonus Bets | COVERS1550 | |
| Exclusive $50 Bonus + Up to $1,500 in Bonus Bets | COVERS1550 | |
| Bet $10, Get $150 in Bonus Bets If You Win | COVERSBONUS | |
| Exclusive $50 Bonus + Up to $1,500 in Bonus Bets | COVERS1550 |
How does the BetMGM promo code compare to other sportsbooks?
I've compared BetMGM's current welcome offer with other top U.S. sportsbook sign up bonuses in 2026 to find the right bonuses for you.
 BetMGM Sportsbook |
 DraftKings Sportsbook |
 bet365 Sportsbook |
 FanDuel Sportsbook |
 Fanatics Sportsbook |
|
|---|---|---|---|---|---|
| Compare | |||||
| Welcome bonus | Exclusive $50 Bonus + Up to $1,500 in Bonus Bets | Bet $5, Get $200 in Bonus Bets + 3 Months of NBA League Pass | Bet $10, Get $200 Win or Lose or $1,000 First Bet Safety Net | Get up to $350 in Bonus Bets | Bet $20, Get $350 in FanCash |
| Promo code | COVERS1550 | Use unique link | COVERS | Use unique link | COVERS350 |
| Bonus type | Exclusive bonus + First bet offer | Bet-and-get | Bet-and-get | Second-chance bet | Bet-and-get |
| Bonus form | $50 bonus + One (< $50) or five (> $49) bonus bets | Eight $25 bonus bets | $200 or $1,000 in bonus bets | Up to seven $50 bonus bets | Up to $350 in FanCash |
| Max value | $1,550 | $200 | $200 | $350 | $350 |
| Qualifying deposit | $10 | $5 | $10 | $5 | $20 |
| Qualifying odds | N/A | -500 or longer | -500 or longer | N/A | -500 or longer |
| Bonus expiration | 7 days | 7 days | 7 days | 7 days | 24 hours (daily bonus) |
| Best for | Serious bettors willing to bet a large initial wager | New bettors | Casual bettors seeking a high return on investment | Knowledgeable bettors | Daily bettors |
| Additional promo code info | Continue reading | DraftKings promo code | bet365 bonus code | FanDuel promo code | Fanatics Sportsbook promo code |
| Claim Bonus | Claim $1,550 | Claim $200 | Claim $200 | Claim $350 | Claim $350 |
Expert Verdict
I believe BetMGM is offering the industry's best new-user welcome bonus in October 2026. First, I like that you secure the exclusive $50 bonus after signing up, with no real-money deposit or wager required. For the second part of the welcome offer, new or casual bettors may not want to wager $1,500 initially to maximize it, but that's completely fine. You can actually still qualify for the welcome bonus with as little as a $10 first-time wager. That makes the BetMGM offer accessible to all types of sports bettors.
The current BetMGM offer is by far the most valuable new-user offer available today; you get $550 more from BetMGM than any other sportsbook welcome promo. I also like how BetMGM awards the bonus at once after a single qualifying wager. You have to place daily bets to maximize the FanDuel and Fanatics' offer, which can be tiresome for new or casual bettors.
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Is the BetMGM bonus worth it?
I claimed a similar welcome offer to the current 'Up to $1,500 in Bonus Bets if the First Bet Loses' promo when I registered with BetMGM back in December of 2023. Except the exclusive $50 bonus wasn't available then, so I only got the First Bet Offer promotion.
I had a great bonus experience: my $1,500 stake was returned to my account as five $300 bonus bets 8 minutes after my NFL moneyline bet lost. The total value is what attracted me to the BetMGM promo back then, and it is still a huge selling point, as it remains the most valuable welcome bonus you can claim in the U.S. years later. You can also use the bonus bets on any sports or betting market. I used mine on five follow-up NFL bets and turned a $879.82 profit. This makes up for not being able to combine or break the bonus bets into smaller increments.
I believe BetMGM has the industry's best new-user welcome bonus today, as it delivers on its promises for qualification, redemption, and follow-up wagering. I love safety-net promos like this, as you'll start your sports betting journey with bonus bets or profits.
BetMGM promotions for existing users
Signing up with the BetMGM bonus code also gives you access to recurring offers after you've secured the welcome offer. I've outlined the best BetMGM bonuses you can claim:
| BetMGM promo | Description |
|---|---|
| MLB SGP Boost |
Get a boost token to use on an MLB same-game parlay. |
| NHL Parlay Boost |
Get a parlay boost token to use on an NHL parlay. |
| NHL Hat Trick Jackpot |
If the player you back on the Anytime Goal Scorer market scores three or more goals, you'll win a share of $10,000 in bonus bets. |
| EPL Win Instantly |
Place a pre-match moneyline wager on any English Premier League match this season. If your team leads by two goals at any point of the match, you win your bet instantly, regardless of the final result. |
| Lions Boost |
Receive enhanced odds on a variety of betting markets for a larger payout. |
| Parlay Plus |
Earn up to 40% more in profits on all parlays |
| BetMGM Rewards |
You are automatically enrolled in BetMGM Rewards, one of the best sportsbook rewards programs, when you sign up. Earn points with every wager you make, which you can redeem for tickets to sporting events, concerts, discounted hotel stays, and more. |
BetMGM referral bonus
When you register for the new-user offer, you'll receive an exclusive invitation code in your account that you can share with friends to earn up to $500 in monthly sportsbook referral bonuses.
Once they create a new account through the invite code, your friend must deposit $100 to get a $100 bonus. You'll get your $100 bonus after they wager their $100 within 30 days. They can use their bonus for the qualifying wager. You can invite up to 5 friends, in any state, per month to register with BetMGM.
Expert InsightYou cannot claim both the BetMGM referral bonus and current new-user welcome offer. Read the terms for each offer to see which BetMGM bonus best suits your needs before claiming either.
Top game to bet on with the BetMGM bonus
NFL Week 6 starts with the Seattle Seahawks playing the Denver Broncos on Thursday Night Football. See what the Covers NFL betting analyst is targeting for the game and how you can use the latest BetMGM new-user bonuses to back the pick:
Best bet for Thursday Night Football (Seattle vs. Denver): Bo Nix 1+ TDs
Expert AnalysisThere's one big knock on this Seahawks defense in 2026 – their red zone defense. Through five games, Seattle ranks a surprising 26th in opponent red zone touchdown conversion percentage. While this will make J.K. Dobbins a popular play this week, Nix offers a much better payout and his red zone workload hasn't been far off. with seven red zone rushing attempts on the season for Nix, that's only four behind Dobbins.
How to use the BetMGM welcome offer on the Covers best bet
If you agree with Joe's logic, then I suggest using it as your qualifying wager for the BetMGM new-user bonus. Wager what you're comfortable with, but it needs to be between $10 and $1,500. Make sure this is your first bet with BetMGM, since only initial wagers qualify for the promo.
Now you wait for the game to start. If Nix scores a touchdown, your bet will just cash as normal, and you'll walk away with the profits. If he doesn't, you'll get your stake back as bonus bets equal to your wager. You'll get five bonus bets if your wager is $50 or more. You'll only get one if your initial bet is $49 or less.
⭐ Best BetMGM NFL promos
Check out the available promos and boosts you can use for NFL Week 6, including Thursday Night Football:
🚀 Thursday Night Football SGP Boost — Claim a profit boost token to use on a Seahawks vs. Broncos same-game parlay.
🤝 NFL No Sweat Bet — Get your stake back in bonus bets if your Thursday Night Football wager loses.
🛡️ NFL First Quarter Injury Protection — Get your stake back in bonus bets if a first-quarter player injury impacts your pre-game NFL Week 6 wager.
👥 Ultimate Teams — Play BetMGM's free game to win a share of a weekly $50,000 Bonus Bet jackpot. Log in to your account daily, Monday through Friday, to reveal cards and build your squad.
All odds shown above are correct at the time of publishing, but are subject to change.
BetMGM bonus bet strategy
Bonus bets are only useful if you have a plan for using those credits once they arrive. I treat bonus bets differently from cash in my bankroll because the bonus stake isn't returned when a wager wins. I've outlined how to maximize your bonus, common mistakes to avoid, how to convert your BetMGM bonus bets to cash, and an effective strategy to make your welcome bonus last.
Tips to maximize the BetMGM bonus
How you plan to use your BetMGM bonus will determine how much you earn. I've provided a few tips to jump on and tricks to avoid when using the BetMGM welcome bonus:
| How to maximize bonus ✅ | Common mistakes to avoid ❌ |
|---|---|
| Diversifying your bonus bets will insulate you from losses, while also growing your bankroll through longer-odds wager wins. |
You can't withdraw an unused bonus bet. You must wager it first, and only eligible winnings become withdrawable funds. |
| Use your bonus on sports and markets you follow closely. Familiarity gives you a better chance to turn your bonus funds into real cash. | BetMGM's Edit My Bet feature is useful, but don't use it on the wager tied to your welcome bonus. Editing that qualifying wager can make it ineligible for the promotion. |
| Read what the Covers betting experts have to say about a game before wagering with your BetMGM bonus. Check out Joe Osborne for UFC and MLB, Jason Logan for NFL, Josh Inglis for NHL, Jon Metler for NBA, and Neil Parker for college football. | Cash out can be convenient, but promotional wagers can have additional restrictions. Before accepting an early cash-out offer, check the specific promo terms to make sure you won't sacrifice the bonus. |
How to convert BetMGM bonus bets to cash
You can't withdraw BetMGM bonus bets directly, as you must wager them once before you can turn any winning return into withdrawable cash. The key difference from a normal cash bet is that the bonus-bet stake isn't included in the payout.
Here's a breakdown of an actual payout with a $100 bonus bet:
- Bet: $100 bonus credit
- Odds: +150
- Total win: $250
- Withdrawable winnings: $150
Because of that, I generally avoid using bonus bets on very short-priced favorites. A $100 bonus bet at -300 produces relatively little withdrawable value if it wins. Instead, I look for wagers with a reasonable combination of probability and payout, rather than simply chasing the longest odds available.
BetMGM responsible gambling features
BetMGM works with GameSense to provide an extensive array of responsible gaming resources to sports bettors across the country. BetMGM offers resources highlighting the importance of setting personal betting limits and tools ensuring bettors continue to play within their means, such as deposit limits and self-exclusion periods.
Bettors can access both national and state-level organizations that specialize in responsible gambling, which are anonymous and mostly available 24/7 throughout the year.
More sportsbook sign-up bonuses
Browse even more of the top U.S. online sports betting welcome bonuses:
Best BetMGM Casino bonuses
BetMGM Casino players in Michigan, New Jersey, Pennsylvania, and West Virginia can claim up to 1,700 bonus spins and up to $1,400 in deposit matches when they sign up and verify their accounts.
However, to claim the full promotion, you'll need to complete several steps, and it's only available when you use our Covers-exclusive BetMGM Casino promo code COVERSCASINO. Check out our BetMGM Casino review for all the details.
BetMGM bonus code FAQ
The current BetMGM promo code is COVERS1550 in AZ, CO, DC, IA, IL, IN, KS, KY, LA, MA, MD, MO, NC, OH, TN, VA, WY; COVERSBONUS in MI, NJ, PA, and WV; and COVERS250 in NV.
No. COVERS1550 is for new users in AZ, CO, DC, IA, IL, IN, KS, KY, LA, MA, MD, MO, NC, OH, TN, VA, WY. New users in MI, NJ, PA, and WV must use COVERSBONUS, while new Nevada bettors must use COVERS250.
You enter the relevant BetMGM promo code in the field when prompted during the registration process.
You wait for the result to see if you earned the BetMGM bonus. If you're claiming the 'Up to $1,500 in Bonus Bets' offer, you'll get your stake back in bonus bets if your qualifying wager loses. Meanwhile, new users in MI, NJ, PA, and WV will get $150 in bonus bets if their qualifying wager wins.
Existing users can claim daily promos such as profit boost tokens, no sweat bets, BetMGM Rewards, or odds boosts. They are ineligible to claim any welcome offer, as those are exclusively for new BetMGM users who haven't qualified for a promotion previously.
Yes. You get a $100 bonus when you get a friend to sign up with your unique code, and deposit and wager $100 within 30 days of creating their account. You can claim the BetMGM referral bonus five times per month.
BetMGM bonus bets expire seven days (168 hours) from issuance. They are automatically removed from your account if not used within that timeframe.
No. The winnings you earn from your BetMGM bonus bets are withdrawable once you wager your entire bonus. However, the bonus bets themselves hold no monetary value.
