The Eastern Conference finals tip off Tuesday, May 19, and new users can get in on the action with a welcome offer from BetMGM. Use the BetMGM bonus code COVERS50 to claim one of two available sportsbook promos: a $1,500 First Bet available in most states, or a Bet $10, Get $150 offer for new users in CO, MI, NJ, PA, and WV.
Either way, you also receive $50 in BetMGM Rewards Points instantly just for signing up.
COVERS50
COVERS50
BetMGM Bonus Code COVERS50: How the $1,500 First Bet and $150 Offer Work
New users in most states can register with the BetMGM bonus code to unlock a $1,500 First Bet. Place your first real-money wager on Cavaliers vs. Knicks Game 1, and if that bet loses, BetMGM will return your entire stake in bonus bets, up to $1,500. If your wager is greater than $50 and loses, the bonus is issued as five separate bonus bets, each worth 20% of your original stake. For example, a $1,500 losing bet on the Knicks to cover the spread would return five $300 bonus bets. If your first wager is $50 or less and loses, you receive a single bonus bet equal to your stake. Bonus bets expire seven days from issuance and must be used before any payout is available. BetMGM does not return your stake when redeeming bonus bets.
New users in CO, MI, NJ, PA, and WV have access to a different welcome offer using the same BetMGM bonus code COVERS50. Deposit at least $10, place a minimum $10 wager on Game 1, and if your bet wins, you receive $150 in bonus bets in addition to your normal winnings. That $150 is issued as three $50 bonus bets, which also expire after seven days. Regardless of which offer applies to your state, all new users receive $50 in BetMGM Rewards Points instantly upon signing up. Key terms for both offers include:
- Must be a new BetMGM user and make a minimum $10 deposit
- BetMGM bonus code COVERS50 must be entered at registration
- Bonus bets expire seven days from issuance
- Offer expires April 30, 2026, at 11:59 p.m. ET
- Not available to anyone on self-exclusion lists
The $50 in BetMGM Rewards Points you receive instantly are part of the BetMGM Rewards program, which lets you convert points into a range of benefits. Those include bonus credits for digital play at BetMGM, MGM Rewards Points, Marriott Bonvoy Points, merchandise, and Gametime Vouchers.
You can learn more about the program at the BetMGM Rewards page.
Check if you can use our BetMGM bonus code in your state
| BetMGM Bonus Code | Eligible States |
| COVERS50 | 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) |
| COVERSBONUS | MI, NJ, PA, WV |
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How to Claim Your BetMGM Welcome Offer for Cavaliers vs. Knicks Game 1
Signing up and placing your first bet on Cavaliers vs. Knicks Game 1 is straightforward. Follow these steps to claim either the $1,500 First Bet or the Bet $10, Get $150 offer depending on your state:
- Download the app: Get the BetMGM app on your mobile device to explore markets, banking options, and navigation before registering.
- Register: Click through to BetMGM and create your new account. Have your name, address, email address, and driver's license ready to speed up the identity verification process.
- Enter the code: Input BetMGM bonus code COVERS50 during registration. This step is required to unlock either welcome offer and your $50 in BetMGM Rewards Points. Skipping the code will void the promotion.
- Deposit funds: Add at least $10 to your account using an accepted payment method such as Visa, Mastercard, debit card, bank transfer, Play+, Skrill, or PayPal.
- Place your first bet: Wager on Cavaliers vs. Knicks Game 1 on any available market, including moneylines, point spreads, totals, player props, or same-game parlays. Users in most states who lose will receive bonus bets back up to $1,500. Users in CO, MI, NJ, PA, and WV who win will receive $150 in bonus bets on top of their winnings.
- Collect your rewards: Winning bets are immediately withdrawable. Bonus bets must be played through before any payout is accessible. Your $50 in BetMGM Rewards Points are credited instantly at sign-up.
For a full breakdown of what BetMGM offers new and existing users, check out the BetMGM bonus review.
More BetMGM Sportsbook promos, bonuses, and offers
- Welcome to MGM Rewards: Earn MGM Rewards Points and redeem them for hotel stays, dining, entertainment, and more.
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Gambling problem? Call 1-800-GAMBLER or 1-800-MY-RESET (Available in the US) 877-8-HOPENY or text HOPENY (467369) (NY) 1-800-327-5050 (MA), 1-800-BETS-OFF (IA), 1-800-981-0023 (PR) 21+ only. Please Gamble Responsibly. See BetMGM.com for Terms. First Bet Offer for new customers only (if applicable). Subject to eligibility requirements. Bonus bets are non-withdrawable. In partnership with Kansas Crossing Casino and Hotel. Promotional offers not available in Mississippi, New York, Ontario, or Puerto Rico.
