BetMGM comes in hot with a huge welcome offer for sports bettors. The operator released their casino and sportsbook earlier in April in Ontario and is expected to become one of the most popular gambling sites in Canada. New customers residing in Ontario who has yet to try BetMGM can do so with a risk free bet for up to C$1,000. Sounds too good to be true? Read on for a break down of the BetMGM sports bonus.
First Bet Insurrance
New customers who register with BetMGM have two options as a welcome bonus, casino or sport. If choosing the sport bonus, players will have a first bet insurance. This means that upon your first deposit between $10-$1,000 will be 100% insured when placing your first bet with the total deposit amount if losing the bet. What you will get back once losing is the total amount in something called FreeBet. These credits cannot be withdrawn or cashed out. The FreeBet can only be used once.
BetMGM Risk Free Bet Breakdown
If your first bet, or qualifying bet loses, and the amount is greater than $50, you will receive five (5) Free Bets back in equal denominations of 20% of the total amount of the first bet up to $1,000. If you lose your first bet and its less than $50, you will receive a single Free Bet back in a single denomination equaling the total amount of the first bet.
Example 1: You place a $1,000 qualifying bet and the bet loses, you will receive five (5) $200 Free Bets.
Example 2: You place a $49 qualifying bet and your qualifying bet loses, you will receive one $49 Free Bet.
2 steps to claim BetMGM Risk Free Bet
- Sign up and deposit – New customers only.
- Place your first wager and receive up to $1,000 back in Sports Rewards if it loses.
- If the bet does lose, your Sports Rewards will be available once the wager is settled!
To summarize, this bonus is for players residing in Ontario only. Our thoughts on the bonus is that its a perfect way of trying out the sports part of BetMGM. You essentially get a second chance on winning on your first deposit for free. We highly suggest to try out the bonus if you are new to BetMGM.