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BetMGM $5 For $200 Promo: Explore The Best BetMGM Deals & Bet $5 And Get A Massive $200 Promo

Last Updated on 22/07/2024
Fact checked by: Josh Schwartz

Every sports bettor would love to bet a small amount and win some bonus in return. This is exactly what you get with BetMGM’s bet $5 for $200 offer. The bonus gives new players an opportunity to experience the sportsbook in a unique way.

Unfortunately, this offer is unavailable at the moment, but not to worry, because there’s always a similar or even better offer. Check out the rest of this article to explore this bonus replacement and how you can claim it.

BetMGM Sportsbook
BetMGM Sportsbook
4.6/5
BetMGM Bet $5 Get $200 Promo
  • Excellent range of sports markets
  • Plenty of betting options
  • Impressive odds
Up To $1500 in Bonus Bets Paid Back if your First Bet Does Not Win
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4.6/5
Up To $1500 in Bonus Bets Paid Back if your First Bet Does Not Win
Free Bet
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BetMGM Sportsbook Highlights
  • Excellent range of sports markets
  • Plenty of betting options
  • Impressive odds

Bet $5 get $200 BetMGM bonus offer: How it works

If you are new to BetMGM, this may be the first time you’ve come across the BetMGM $5 for $200 promotion.  Below are a few details you should know about this offer:

Bonus availability

Unlike most welcome bonuses, the Bet $5 get $200 BetMGM bonus is a once-in-a-while bonus that is currently unavailable. However, this Sportsbook has a similar offer, which gives you $200 in bonus bets after wagering just $10.

How to get started

Before claiming the offer, you should confirm that you are within your state’s lines and are at least 21 years or older. Once ready, you can then follow this step-by-step procedure to grab your bonus.

  • Head to the BetMGM website or download the mobile app to sign up.
  • Fill in all the necessary details and proceed to make a deposit.
  • Explore the Sportsbook's available games and select the sports and markets you want to bet on.
  • Carefully select the odds, as this will determine your final winnings. Refer to our BetMGM Sportsbook review for more information on how the odds work and how to pick the right sports betting markets.
  • Once you have chosen your ideal Sportsbook, make a qualifying wager of at least $10, and you are good to go.

This bonus offer gives you $200 in free bets regardless of whether you win or lose the first wager. These bonus bets are typically divided into four equal parts, each valued at $50.

Calculating winnings

Suppose you decide to use one of your $50 bonus bets to wager on a sports event with odds of -250 (you are risking $250 to win 100); your winnings will be $20.

If you bet on an underdog with odds of +400 (betting $100 to win $400), you'll win $200. Ideally, winning big means picking the best odds. That could mean finding some great underdogs or teams with value odds.

Validity period

Both the "bet $5 get $200" and the bet $10 win $200 offers come with a seven-day expiration date. So, be sure to utilize them within this timeframe.

Is the bet $10 get $200 good enough?

If you were looking for the BetMGM $5 for $200 bonus, but you found this offer instead, you might be wondering if it's worth claiming. Well, the answer is yes.

This offer, like the $5 counterpart, gives you the same bonus and is structured just the same. If you wish to wait for the $5 bet bonus offer, that's also an option, except that you never know when it's going to be available.

Something to note with both these offers is that unlike the BetMGM no-deposit promotions or even the deposit bonuses, you need to wager a qualifying amount to claim the bonus. Simply signing up or depositing some funds to the Sportsbook won't get you the offer.

Which sports are eligible for the BetMGM $5 for $200 promotion?

Bonus Type First wager bonus
Bonus Offer Bet $5 get $200
Minimum eligible amount $5
Bonus Availability Not Available. Replace with bet $10 win $200.
Sports covered All professional sports
Jurisdiction 19 U.S States

Before using the BetMGM bet $5 win $200 or the bet $10 win $200, you should first know the types of sports to bet on.

When it comes to professional sports, you'll generally find a more uniform set of regulations across the states where BetMGM operates. Sports in this category include professional basketball, football, baseball, hockey, MMA, soccer, and tennis. However, this isn't the case with college sports.

A mix of rules

Across the 19 states where BetMGM operates, some states, like Maryland, cast a wide net, allowing bettors to place wagers on several sports, including college sports.

What's unique about Maryland is that you can bet on in-state college sports events, even those involving Maryland-based teams.

On the other hand, states like Illinois permit betting on college sports, but with a twist. You can't bet on college teams located within the state.

If you want to use the BetMGM $10 for $200 promotional offer to wager on college sports, you should always check the specific regulations in your state to avoid last-minute surprises.

How to maximize the BetMGM $10 for $200 bonus offer

To make the most of the currently available offer, just like you would with the BetMGM $5 for $200 promotion, you need to be strategic and deliberate with your actions. Here are some tips to keep in mind:

Find the value odds

Since you are only keeping the profits, you need to leverage high odds. If you find a great underdog to bet on, go for it. Similarly, look for some great single and multi-game parlays.

Check the bonus rules

To avoid violating the bonus rules, you want to double-check the T&Cs. For instance, the BetMGM bet $5 get $200 bonus, like its Bet $10 win $200 counterpart cannot be combined with other offers, lest you forfeit the bonus.

Pros and cons of BetMGM $5 for $200 bonus offer

Here are some of the advantages and drawbacks of this promotion offer:

BetMGM casino and sportsbook
BetMGM: Pros & Cons
  • Minimum qualifying bet is very low
  • You only need to wager once
  • You can bet on most sports
  • It's currently unavailable

Conclusion: Claim your BetMGM $10 for $200 today

If you are new to BetMGM Sportsbook, you can take advantage of the currently available Bet $10 get $200 bonus offer. As highlighted in most of our online Sportsbook reviews, BetMGM is among the highly-ranked operators when it comes to unique and regular bonuses. Follow the steps highlighted above to sign up with this operator and play by the rules to enjoy the bonus.

Sports Promo
4.6/5
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Sports Promo
4.6/5
Up To $1500 in Bonus Bets Paid Back if your First Bet Does Not Win
Free Bet
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T&Cs apply, 21+
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BetMGM $5 for $200 FAQs

🌸 Is the BetMGM $5 for $200 promotion currently available?

No. This Offer is unavailable; however, you can claim a similar offer, the "bet $10 win $ 200," which is available.

🍀 Can I use the $5 wager on any sports event?

Provided BetMGM offers the sport in your state, you can use the bonus to wager on a relevant event.

🍒 How are the $200 in free bets distributed?

The $200 bonus is split into four equal parts of $50 each, allowing you to extend the fun over multiple wagers.

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