BetMGM Bonus Code COVERS50: Claim $1,500 First Bet Bonus for NBA & NHL Playoffs, WNBA, MLB on Saturday

New users can claim an elite welcome offer with the BetMGM bonus code COVERS50 just in time for a loaded Saturday of postseason action. Use the code to unlock either a $1,500 First Bet in most states or the Bet $10, Get $150 offer available in CO, MI, NJ, PA, and WV, plus $50 in BetMGM Rewards Points in both cases. With NHL and NBA playoff games, MLB, and the WNBA all on the board this May 23, there has never been a better time to explore sportsbook promos and get in on the action.

$1,500 First Bets
COVERS50

Claim $1,500

Bet $10, Get $150 in MI, NJ, PA, WV
COVERS50

Win $150

BetMGM Bonus Code COVERS50: $1,500 First Bet or Bet $10, Get $150

The BetMGM bonus code COVERS50 unlocks two distinct welcome offers depending on where you live. In most states, new users receive a $1,500 First Bet, meaning if your first wager loses, BetMGM returns the full stake as bonus bets, up to $1,500. In CO, MI, NJ, PA, and WV, the offer shifts to Bet $10, Get $150, where a winning $10 initial wager earns $150 in bonus bets regardless of outcome.

For the $1,500 First Bet offer, if your qualifying wager exceeds $50 and loses, BetMGM issues five bonus bets each worth 20% of your original stake. For example, a $1,500 losing bet on the Cavaliers covering in Game 3 against the Knicks would return five $300 bonus bets. If your wager is under $50, you receive one bonus bet for the full amount. Bonus bets expire seven days from issuance.

For the Bet $10, Get $150 offer in CO, MI, NJ, PA, and WV, place a minimum $10 wager on any market, such as the Hurricanes moneyline in Game 2 against the Canadiens. If that bet wins, you receive $150 issued as three $50 bonus bets. Win or lose, both offers include $50 in BetMGM Rewards Points delivered instantly upon sign-up.

BetMGM Rewards Points are a valuable part of the BetMGM ecosystem. They can be redeemed for bonus credits for digital play at BetMGM, MGM Rewards Points, Marriott Bonvoy Points, merchandise, and Gametime Vouchers. Learn more at the BetMGM Rewards page. Both offers require a minimum $10 deposit and are available to new users only. The deadline to claim either offer is April 30, 2026, at 11:59 p.m. ET. Users on self-exclusion lists are not eligible.

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How to Claim Your BetMGM Welcome Offer for NBA and NHL Playoffs on May 23

Signing up and claiming either BetMGM welcome offer is straightforward. Follow these steps to get started before the playoff action tips off this Saturday:

1. Download the BetMGM app or visit the BetMGM website to begin the registration process. Have your personal information ready, including your name, address, email address, and driver's license for identity verification.
2. Enter the BetMGM bonus code COVERS50 during registration. This step is required to unlock either the $1,500 First Bet or the Bet $10, Get $150 offer, depending on your state. You will also receive your $50 in BetMGM Rewards Points instantly at this stage.
3. Deposit a minimum of $10 using any available payment method, including Visa, Mastercard, debit cards, PayPal, Skrill, bank transfers, or Play+.
4. Place your first real-money wager on any sport or market. Consider targeting the NHL Eastern Conference Final Game 2 between the Canadiens and Hurricanes, the NBA Eastern Conference Finals Game 3 between the Cavaliers and Knicks, or any MLB or WNBA game on the board. If you are in most states and your bet loses, you get your stake back as bonus bets up to $1,500. If you are in CO, MI, NJ, PA, or WV and your bet wins, you receive $150 in bonus bets.
5. Winning bets are immediately withdrawable. Bonus bets must be used before any payout is accessible, and BetMGM does not return the stake on bonus bet wagers.

For a full breakdown of terms and everything BetMGM has to offer, check out the complete BetMGM bonus review.