The Masters returns to Augusta National this week, and new BetMGM users can claim an exclusive welcome offer with BetMGM bonus code COVERS50. This $1,500 First Bet offer is perfect for wagering on Rory McIlroy's title defense or backing another contender in golf's first major of 2026.
New users can also access sportsbook promos that include $150 in bonus bets plus $50 BetMGM Rewards Points in select states, with both offers available through Wednesday, April 30.
COVERS50
COVERS50
BetMGM Bonus Code Delivers $1,500 First Bet for The Masters
The BetMGM bonus code COVERS50 unlocks two distinct welcome offers depending on your state. In most BetMGM states including Arizona, Colorado, Illinois, Indiana, and others, new users receive a $1,500 First Bet offer plus $50 BetMGM Rewards Points. Meanwhile, users in Colorado, Michigan, New Jersey, Pennsylvania, and West Virginia can claim $150 in bonus bets when their first $10 wager wins, plus the same $50 in Rewards Points.
For the $1,500 First Bet offer, you'll receive your stake back in bonus bets if your initial wager loses. If you bet $100 on Scottie Scheffler to win The Masters and he misses the cut, you'll get $100 in bonus bets to use on other markets. For wagers over $50, BetMGM splits your bonus into five equal parts, each worth 20% of your original stake. The $150 bonus bet offer works differently, rewarding winning first bets with three $50 bonus bets that expire after seven days.
BetMGM Rewards Points add extra value to both offers, providing access to various benefits including bonus credits for digital play at BetMGM, MGM Rewards Points, Marriott Bonvoy Points, merchandise, and Gametime Vouchers. These points enhance your overall betting experience beyond the initial welcome bonus.
Both offers require the COVERS50 bonus code during registration and expire at 11:59 p.m. ET on April 30, 2026.
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 |
Best BetMGM Boosts
All Users
- Get your stake back in cash if your bet on a golfer to win the Masters finishes 2nd place
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The Masters Betting Preview at Augusta National
Rory McIlroy enters The Masters as defending champion after finally capturing his career Grand Slam last year, but questions surround his form following a winless start to 2026 and a withdrawal from the Arnold Palmer Invitational due to back injury. McIlroy aims to become the first repeat Masters winner since Tiger Woods accomplished the feat in 2001-02. Scottie Scheffler returns to action just 10 days after the birth of his second son, bringing momentum from winning two of his last four Masters appearances.
The field features 22 Masters debutants, including two-time 2026 winner Chris Gotterup and FedExCup leader Jacob Bridgeman. Recent form suggests Cameron Young and Matt Fitzpatrick could contend after their back-to-back victories at THE PLAYERS Championship and Valspar Championship respectively. Notably, the last two PLAYERS winners, Scheffler in 2024 and McIlroy in 2025, both went on to claim the green jacket. J.J. Spaun enters Augusta National with confidence after winning the Valero Texas Open, his second victory at TPC San Antonio.
BetMGM offers extensive Masters betting markets including outright winner odds, top-5 finishes, head-to-head matchups, and round-by-round props. You can wager on whether McIlroy successfully defends his title, if Scheffler adds another green jacket to his collection, or if a first-time major winner emerges from the talented field assembled at Augusta National.
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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