BetMGM Bonus Code Washington

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First-time BetMGM customers in Washington D.C. can now place a first bet of up to $1,500, and if it loses, receive up to $1,500 in bonus bets!

Use the bonus code BETMGMBONUS to sign up and get up to $1,500. If you win your first wager, the bonus won’t be awarded.

Is BetMGM Legal In Washington D.C.?

BetMGM, an industry leader in sports betting and iGaming, launched its online platform in Washington, D.C., on July 17, 2024.

Sports bettors can now use the bookmaker anywhere in the District of Columbia and earn reward points that are available to use at MGM Rewards and Marriott Bonvoy properties.

With the expansion, BetMGM has rolled out a First Bet Offer for new sportsbook users.

BetMGM Washington D.C. Welcome Offer In Detail

If you haven’t signed up to BetMGM yet, you can create a new account as a user in Washington D.C. to claim up to $1,500 in bonus bets.

The bonus is paid out as five bonus wagers for first bets between $50 and $1,500. For first wagers under $50, the bonus is delivered as a single promo bet.

Let’s go over some of the main terms and conditions, so you can make sure you get the most out of this new player bonus!

You can place your first bet and bonus bets on any market at BetMGM’s online sportsbook.

The promotion period for the $1,500 bonus runs until December 31, 2024 (11:59 p.m. ET). Members must be 21 or older to qualify and use the platform.

Each bonus wager must be made as one straight bet, one parlay, or one same-game parlay and is unable to be split across multiple bet placements.

The minimum first bet amount is $1, and the maximum is $1,500. However, betting $1 and being refunded $1 as a bonus would widely be considered a waste of the promotion.

It’s up to the account holder to choose an amount they’re comfortable with and what suits their bankroll. Remember to wager responsibly and never bet more than you can afford.

Bonus bets cannot be withdrawn (until wagered) and expire after seven days. They are credited to your account within 72 hours after your first bet is graded.

There is a 1x rollover for the promo funds, meaning after you’ve bet them once, and if you win the wager, the cash can be immediately withdrawn from your account.

To be eligible for the offer, you must deposit at least $10 when creating your account.

How I Would Use the Bonus

We’ll use a scenario in which you made a first bet of $1,500 and lost. Therefore, you received five $300 bonus bets.

I’ll provide two options on how to use the bonus, with the first option highly recommended.

Remember, if you win a bet using the bonus, you’ll only be credited the winnings and not the initial stake used to place it.

For example, if you bet $300 of your bonus on the Texas Rangers to win at +100 odds ($300 to win $300), and they win, you’ll receive $300 in your account.

If you place a traditional wager with real money (not the bonus), you’ll collect $600 (original stake plus the winnings).

Option A (My Personal Recommendation)

In order to guarantee a significant portion of the bonus, without coming up empty-handed, you can stake two opposing sides in the same game to secure a profit.

This method can be performed by using two separate sportsbook accounts. In this scenario, FanDuel will be the second bookmaker.

We’ll use a $300 example since the $1,500 bonus is provided in five $300 portions.

Let’s say the Cincinnati Reds are taking on the Atlanta Braves.

Reds (+154) at BetMGM
Braves (-180) at FanDuel

You would bet the $300 bonus to win $462 on the Reds (+154) using BetMGM.

You’d proceed to wager $300 of your own money on the Braves (-180) to win $166.67 at FanDuel.

If the Reds win, you take home $462 minus the $300 bet on FanDuel, which leaves you with $162 in profit. You won’t receive the $300 bonus back.

If the Braves win, you profit $166.67 and receive your initial $300 real money stake back.

You would profit in both scenarios and essentially be receiving or 54% or 55.5% of your bonus bet back which is more than half of it in guaranteed money.

Employing this strategy is a great way to boost your bankroll.

If you opted not to use this technique, and wagered all $300 of one of the bonus bets on simply one slip and it lost at BetMGM, you wouldn’t be taking advantage. Betting just one team for one bonus or all five poses a risk.

This scenario can be performed using all five bonus bets on different games with similar odds (when you bet both opponents in each of them).

Option B

The first option is the safer one.

If you don’t want to use it and would rather sweat it out on other wagers because you feel confident in them, make sure you conduct in-depth research.

There is always the chance of failing to capitalize and losing the entire bonus by doing this.

If you decide to go this route, make sure you have strong knowledge about the market you’re betting on.

Conduct research using team stats, player stats, past performances, injuries, head-to-head results and position-by-position matchups.

You can also compare experts’ picks (with proven records) and read a number of analyses.

I strongly advise using option A if you want to try and keep a decent amount of the bonus.