BetMGM Bonus Code COVERS: Up to $1,500 in Bonus Bets if Your First Bet Loses
Verified on Nov. 9, 2026
Last used 36 mins ago
2 min average claim time
Verified on Nov. 9, 2026
Last used 36 mins ago
2 min avg claim time
The BetMGM bonus code is COVERS: up to $1,500 in bonus bets if your first bet loses in 11 states and DC. In MI, NJ, PA, and WV, use COVERSBONUS for Bet $10, Get $150. Use COVERS250 in NV and PR to get $250 back in bonus bets. BetMGM also runs an up to $1,000 in Bonus Bets offer over your first 10 days with COVERS in IL, NC, OH, TN, and VA. $10 minimum deposit; bonus bets expire in 7 days. No welcome bonus in MS.
Up to $1,000 in Bonus Bets Over Your First 10 Days
Which BetMGM welcome offer to take with COVERS
| Offer | States | Code | Min. deposit | What you get | End |
|---|---|---|---|---|---|
|
AZ, CO, DC, IA, IN, KS, KY, LA, MA, MD, MO, WY |
COVERS |
$10 |
Bet up to $1,500; get stake back in bonus bets if it loses; five bonus bets, each worth 20% of stake, for wagers more than $50; one bonus bet for $50 or less |
Dec. 31, 2026 |
|
|
IL, NC, OH, TN, VA |
COVERS |
$10 |
Get 10 Bet Reset Tokens after placing your qualifying deposit; one Token per day for 10 consecutive days; maximum $100 returned per Token |
Dec. 31, 2026 |
|
|
MI, NJ, PA, WV |
COVERSBONUS |
$10 |
Bet $10+ to get $150 in bonus bets if your bet wins |
Dec. 31, 2026 |
|
|
NV, PR |
COVERS250 |
$10 |
Bet up to $250; get your stake back in bonus bets if the qualifying bet loses |
Dec. 31, 2026 |
Check out where BetMGM Sportsbook is legal to see if it's available in your state.
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 COVERS when prompted.
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 up to $1,500 on any sport or betting market with minimum odds of -10,000. If you lose, you'll get your entire stake back in bonus bets.
Step 5: Receive and use the bonus
If your qualifying wager was more than $50, you'll get five bonus bets, each equal to 20% of your losing bet. Qualifying wagers of $50 or less will get one bonus bet. You must wager bonus bets once before you can request a withdrawal. Only the winnings are paid out; the bonus bet stake is not returned.
Expert InsightYou can reach out to BetMGM's customer support team if you have any issues while signing up. I recently reached out through its 24/7 live chat with a question about available withdrawal options.
Sadly, my experience was not positive; I reached out at 3:02 p.m. from New Jersey. An AI agent greeted me and twice failed to connect me with a human agent when I asked. It then said a person would respond within "6 to 12 minutes" and asked if I was still there. I confirmed, then sent a follow-up that got no reply. At 4:19 p.m. I left the live chat, and my question was never answered.
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:
COVERS welcome offer terms: Up to $1,500 in Bonus Bets if First Bet Loses
- BetMGM bonus code: COVERS
- Minimum deposit: $10
- Qualifying wager: Up to $1,500
- Bonus structure: Five bonus bets each worth 20% of your qualifying stake (for wagers more than $50) or one bonus bet equal to your stake ($50 or less).
- Playthrough requirements: None; bonus bets are non-withdrawable
- Bonus expiry: Seven days from receipt.
- Offer expiry: Dec. 31, 2026
Watch this brief video for a further breakdown of the BetMGM 'Up to $1,500 First Bet Offer' promotion.
Alternative COVERS offer terms: Up to $1,000 in Bonus Bets Over Your First 10 Days
New users in Illinois, North Carolina, Ohio, Tennessee, and Virginia can use the BetMGM promo code "COVERS" to claim up to $1,000 back in bonus bets over their first 10 days following a successful qualifying deposit. Here are the terms:
- BetMGM bonus code: COVERS
- Minimum deposit: $10
- Bonus structure: Receive one Bet Reset Token to use on a daily wager for 10 days after your initial deposit; apply the token to get the stake back if it loses.
- Maximum return per token: $100
- Playthrough requirements: None; bonus bets are non-withdrawable
- Bonus expiry: Seven days from receipt.
- Offer expiry: Dec. 31, 2026
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: None; bonus bets are non-withdrawable
- Bonus expiry: Seven days from receipt.
- Offer expiry: Dec. 31, 2026
BetMGM promo code by state
BetMGM Sportsbook offers online sports betting in 23 states, plus DC and Puerto Rico. I've outlined the available welcome bonuses that new users in each state can secure from BetMGM today:
| State | Sign-up bonus | Promo code |
|---|---|---|
|
Up to $1,000 in Bonus Bets Over Your First 10 Days
|
COVERS | |
| Up to $1,000 in Bonus Bets Over Your First 10 Days | COVERS | |
| Up to $1,000 in Bonus Bets Over Your First 10 Days | COVERS | |
| Up to $1,000 in Bonus Bets Over Your First 10 Days | COVERS | |
| Up to $1,000 in Bonus Bets Over Your First 10 Days | COVERS | |
| Up to $1,000 in Bonus Bets Over Your First 10 Days | COVERS | |
| Up to $1,000 in Bonus Bets Over Your First 10 Days | COVERS | |
| Up to $1,000 in Bonus Bets Over Your First 10 Days | COVERS | |
| Up to $1,000 in Bonus Bets Over Your First 10 Days | COVERS | |
| Maryland sportsbook promos | Up to $1,000 in Bonus Bets Over Your First 10 Days | COVERS |
| Massachusetts sports betting promos | Up to $1,000 in Bonus Bets Over Your First 10 Days | COVERS |
| Bet $10, Get $150 in Bonus Bets If You Win | COVERSBONUS | |
|
Mississippi
|
No welcome bonus offered | No code available |
| Up to $1,500 in Bonus Bets if First Bet Loses | COVERS | |
|
Nevada
|
$250 Back in Bonus Bets | COVERS250 |
| Bet $10, Get $150 in Bonus Bets If You Win | COVERSBONUS | |
| No welcome bonus offered | No code available | |
| Up to $1,000 in Bonus Bets Over Your First 10 Days | COVERS | |
| Up to $1,000 in Bonus Bets Over Your First 10 Days | COVERS | |
| Bet $10, Get $150 in Bonus Bets If You Win | COVERSBONUS | |
|
Puerto Rico
|
$250 Back in Bonus Bets | COVERS250 |
| Up to $1,000 in Bonus Bets Over Your First 10 Days | COVERS | |
| Up to $1,000 in Bonus Bets Over Your First 10 Days | COVERS | |
| Bet $10, Get $150 in Bonus Bets If You Win | COVERSBONUS | |
| Up to $1,000 in Bonus Bets Over Your First 10 Days | COVERS |
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 | Up to $1,000 in Bonus Bets Over Your First 10 Days | Bet $5, Get $200 in Bonus Bets + 3 Months of NBA League Pass | Bet $10, Get $200 Win or Lose | Get up to $200 in Bonus Bets | Bet $20, Get $350 in FanCash |
| Promo code | COVERS | No code required | COVERS | No code required | COVERS350 |
| Bonus type | First bet offer | Bet-and-get | Bet-and-get | Bet-and-get | Bet-and-get |
| Bonus form | One bonus bet ($50 or less) or five bonus bets equal to 20% of qualifying wager (more than $50) | Eight $25 bonus bets | $200 | Up to four $50 bonus bets | Up to $350 in FanCash |
| Max value | $1,500 | $200 | $200 | $200 | $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 $1,500 | Claim $200 | Claim $200 | Claim $200 | Claim $350 |
Expert Verdict
I believe BetMGM is offering the industry's best new-user welcome bonus in November 2026. New or casual bettors may not want to wager $1,500 initially to maximize it, but that's completely fine. You can still qualify for the welcome bonus by wagering a portion of the maximum amount. 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 $1,150 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 offers, 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 First Bet Loses' promo when I registered with BetMGM in December 2023.
I had a great bonus experience: my $1,500 stake was returned to my account as five $300 bonus bets eight 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 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 an $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, because they start your sports betting journey with bonus bets or profits.
Tested by Carson Deveau, Sports Betting Editor, December 2023
BetMGM bonus code for existing users
Existing users cannot claim a welcome bonus. However, existing users can claim a Monday Night Football SGP Boost, a parlay boost for any sport, or any of the following BetMGM promos today:
| BetMGM promo | Description |
|---|---|
| NBA Odds Boost |
Claim an odds boost on an NBA wager. |
| College Football Odds Boost |
Claim an odds boost on a college football wager. |
| NFL SGP boost |
Get an odds boost token to use on an NFL same-game parlay wager. |
| NBA BetDefense Protection |
Place a pre-game NBA player prop bet. If your player leaves the game in the first quarter due to injury, you'll get your stake back in bonus bets. Maximum $50 refund. |
| 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 promos I used this week as an existing user
Monday, November 9 — I claimed and applied the "NFL SGP boost" to my Monday Night Football wager for the Bills vs. Vikings game (Bills -3, Josh Allen first TD scorer, James Cook anytime TD scorer).
The boost token appeared on my bet slip immediately after I opted in. I placed $5 on the bet. The original odds were +1400, but after the boost they were +1862. Using the boost increased my potential payout from $75 to $98.10.
BetMGM referral bonus
When you register for the new-user offer, you'll receive an exclusive invite 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 and deposit $100, they'll 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 InsightIf you sign up for BetMGM via a referral code and claim the refer-a-friend bonus, you cannot claim the current new-user welcome offer or any future new-user offers. Read the terms of each promotion to see which BetMGM bonus best suits your needs before claiming either.
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 an example of an example 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 so that 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 that 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
What is the current BetMGM promo code?
The current BetMGM promo codes are COVERS (Up to $1,500 in Bonus Bets if First Bet Loses or Up to $1,000 in Bonus Bets Over Your First 10 Days), COVERSBONUS (Bet $10, Get $150 in Bonus Bets), and COVERS250 ($250 Back in Bonus Bets). You must input that BetMGM bonus code available in your state during registration to receive the new-user welcome bonus.
Is the BetMGM bonus code the same in every state?
No. The current BetMGM promo code is COVERS 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 and PR. States without a Covers BetMGM bonus code include Mississippi, New York, and Puerto Rico.
How do I enter a promo code on BetMGM?
You enter the relevant BetMGM promo code in the field when prompted during the registration process.
What happens after my qualifying bet?
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. For the 'Up to $1,000 in Bonus Bets Over Your First 10 Days' offer, you'll get up to $100 back on your daily qualifying wager for your first 10 days if it loses.
Can existing users claim a BetMGM bonus?
Existing users can claim daily promos such as profit boost tokens, bet reset tokens, 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.
Does BetMGM have a referral bonus?
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.
When do BetMGM bonus bets expire?
BetMGM bonus bets expire seven days (168 hours) from issuance. They are automatically removed from your account if not used within that timeframe.
Are BetMGM bonus bets withdrawable?
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.
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