BetMGM Bonus Code 'COVERS' Gives Up To $1.5K Bonus Bets Back If Your Rice-Texas State Bet Doesn't Win

Use BetMGM bonus code COVERS for $1,500 First Bet on the Armed Forces Bowl. Rice vs Texas State betting with bonus bets back if you lose.

Peter Clarke - Senior Editor at Covers.com
Peter Clarke • Senior Editor
Jan 2, 2026 • 10:05 ET • 3 min read
Use BetMGM bonus code "COVERS" to get up to $1,500 bonus bets back if your first bet loses. - IMAGN IMAGES
Photo By - Use BetMGM bonus code "COVERS" to get up to $1,500 bonus bets back if your first bet loses. - IMAGN IMAGES

The Armed Forces Bowl between Rice and Texas State on Friday, January 2 presents an intriguing matchup between two programs dealing with roster changes. New bettors can capitalize on this bowl game action with the BetMGM bonus code COVERS, which unlocks a $1,500 First Bet offer. This welcome promotion gives you bonus bets back if your initial wager loses, making it an excellent opportunity to bet on Friday's bowl game. With both teams motivated to end their seasons on a high note, this matchup offers plenty of betting value alongside top-tier sportsbook promos.

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BetMGM bonus code COVERS delivers $1,500 First Bet protection

The BetMGM bonus code COVERS provides new users with a $1,500 First Bet offer that returns your stake in bonus bets if your initial wager loses. This promotion requires the code COVERS during registration and is available to first-time customers in eligible states, including Arizona, Colorado, Illinois, and many others. You must make a minimum $10 deposit and place a real money wager to activate the offer.

Here's how it works for the Armed Forces Bowl: If you bet $500 on Rice to cover the spread and they fall short, you'll receive $500 in bonus bets. For wagers over $50, BetMGM splits your bonus into five equal parts, each worth 20% of your original stake. Bonus bets expire after seven days and cannot be withdrawn directly. For example, if you wager $1,000 on Texas State's total points and lose, you'd receive five $200 bonus bets totaling $1,000.

  • Use the bonus code COVERS during registration
  • Minimum $10 deposit required
  • Bonus bets expire in seven days
  • Available in 20+ states, plus DC and Puerto Rico

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)

BetMGM odds for Rice vs Texas State


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How to claim your Armed Forces Bowl betting bonus

Getting started with your BetMGM welcome offer for Rice vs Texas State is straightforward. Follow these steps to claim your $1,500 First Bet protection using bonus code COVERS:

  1. Click the registration link and enter the bonus code COVERS
  2. Complete account verification with personal information and ID
  3. Make your initial deposit of at least $10
  4. Place your first real money wager on any Armed Forces Bowl market
  5. Receive bonus bets equal to your stake if your first bet loses

Whether you're backing the surprising Rice Owls or the more experienced Texas State Bobcats, this offer provides excellent value for Friday's bowl game. Remember that bonus code COVERS is required to unlock this promotion. For complete terms and additional details, check out our comprehensive BetMGM bonus review.


More BetMGM Sportsbook promos, bonuses, and offers from

  • Get A Second Chance On First TD Bets: Get your Stake back if your First TD Scorer pick scores the second TD instead!
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Peter Clarke - Covers
Senior Editor

Peter Clarke is dedicated to keeping bettors informed about the biggest sports betting events, such as the Super Bowl and March Madness, and the best way to cash in on sportsbook promos. He's also always on top of the latest welcome offers from the biggest sportsbooks, so he can share the best deals and the most exciting games to use them on every day.

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