BetMGM Bonus Code COVERS: Make $1,500 First Bet on Bulls vs. Raptors, Bonus Bets Back if it Loses

Use BetMGM bonus code COVERS for $1,500 First Bet on Bulls vs. Raptors Thursday. Get bonus bets back if your first wager loses.

Luc LeBlanc - Betting Editor at Covers.com
Luc LeBlanc • Content Editor
Feb 5, 2026 • 16:10 ET • 3 min read

New bettors can use BetMGM bonus code COVERS to claim a $1,500 First Bet ahead of Thursday's Bulls vs. Raptors matchup. This welcome offer provides bonus bets back if your first wager loses, making it an excellent opportunity to bet on this intriguing NBA clash.

With both teams coming off disappointing losses and Chicago dealing with significant roster changes, this Feb. 6 game presents plenty of betting angles for new users to explore with sportsbook promos.

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$1,500 First Bets
COVERS

How the $1,500 BetMGM Bonus Code COVERS Offer Works

The code COVERS delivers substantial value for new users looking to wager on Thursday's Bulls-Raptors game. After registering and making a minimum $10 deposit, you can place your first real money bet on any market related to this matchup. If your initial wager wins, you keep all winnings and can withdraw them immediately.

However, if your first bet loses, BetMGM returns your stake up to $1,500 in bonus bets. For wagers over $50, you receive five separate bonus bets, each worth 20% of your original stake. For example, if you bet $1,000 on the Bulls to cover the spread and lose, you would receive five $200 bonus bets totaling $1,000. Wagers under $50 result in a single bonus bet equal to your stake amount.

These bonus bets expire after seven days and must be used before you can access any potential winnings. The BetMGM bonus code terms apply to new users in eligible states including Arizona, Colorado, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Missouri, Mississippi, North Carolina, Nevada, New Jersey, New York, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia, Wyoming, plus Washington D.C. and Puerto Rico.

  • Minimum $10 deposit required to activate the offer
  • Bonus bets expire seven days after issuance
  • Wagers over $50 split into five separate bonus bets
  • Original stake not returned when using bonus bets

Check if you can use our BetMGM bonus code in your state

BetMGM Bonus Code Eligible States
 COVERS AZ, CO, IA, IL, IN, KS, KY, LA, MD, MA, MI, MO, MS, NC, NV, NJ, NY, OH, PA, TN, VA, WV, WY (+ DC, PR)

Best BetMGM Boosts

BetMGM All Users

  • Get a boost for any NBA bet
  • Spread Odds Flash Boost: Seahawks -4.5 (-115 -> -110)
  • Spread Odds Flash Boost: Patriots +4.5  (-105 -> +100)
  • Seahawks to score first (-143 -> -125)
  • Patriots to score first (+110 -> +125)

BetMGM odds for Bulls vs Raptors


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Bulls vs. Raptors Betting Opportunities This Thursday

Thursday's Bulls-Raptors game offers numerous betting opportunities for new BetMGM users. Chicago enters this contest significantly weakened after trading away key players including Coby White, Nikola Vucevic, and Kevin Huerter. The Bulls have struggled recently, losing five of their last six games, including devastating defeats to Milwaukee and Miami where they trailed by 26 and 54 points respectively.

Toronto presents its own challenges after blowing an 18-point lead against Minnesota on Wednesday, ultimately falling 128-126. The Raptors turned the ball over nine times in the second half, with seven coming in the crucial fourth quarter. However, they did receive reinforcements by acquiring Trayce Jackson-Davis from Golden State, which should help address their frontcourt depth issues with Jakob Poeltl sidelined.

Historical matchups favor Chicago, as the Bulls swept all four meetings with Toronto last season. Their most recent encounter on April 1 saw Chicago dominate 137-118, with White scoring 28 points and Vucevic adding 22 points and 10 rebounds. With both key players now gone, this dynamic completely changes for Thursday's rematch.


More BetMGM Sportsbook promos, bonuses, and offers

  • Get A Second Chance On First TD Bets: Get your Stake back if your First TD Scorer pick scores the second TD instead!
  • Welcome to MGM Rewards: Earn MGM Rewards Points and redeem them for hotel stays, dining, entertainment, and more.

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Luc LeBlanc
Content Editor

Luc has been passionate about sports since he was a child, playing competitive hockey and staying closely tuned to professional leagues. Today, he brings that same energy to his work as a Content Editor, covering NHL games, player props, and betting trends with a sharp, analytical eye.

Since 2023, Luc has been writing picks and analysis for various publications, helping readers discover value in several major sports. While hockey is his specialty, he also closely follows tennis, keeping up with both the ATP and WTA Tours.

A graduate of Saint Mary’s University (BSc, Geography, 2025), Luc approaches sports betting the way he approaches maps and statistics by looking for patterns, trends, and angles that give him an edge. He focuses on research-backed and well-informed picks, spotting correlations, and finding the best opportunities in player props and game markets.

When he’s not making data-driven betting decisions or breaking down NHL matchups, you’ll find Luc on the ice, hitting the tennis courts, or engaging in some other form of exercise — staying connected to the sports he loves.

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