How to Access BetMGM’s $1,000 First Bet Insurance: A Step-by-Step Guide for New Users

Last Updated:

Are you new to BetMGM and wondering how to access their $1,000 First Bet Insurance promotion? Understanding how to access promotions like this can help you maximize your winnings and make the most of your online betting experience. In this article, we will provide a step-by-step guide on accessing BetMGM’s $1,000 First Bet Insurance and answer some frequently asked questions about the promotion.

What is BetMGM’s $1,000 First Bet Insurance?

BetMGM’s $1,000 First Bet Insurance is a promotion designed to encourage new users to try out their platform without the fear of losing their initial investment. The promotion allows new users to receive a refund of up to $1,000 if their first bet loses. This means that you can place your first bet with confidence, knowing that if it loses, you will receive a refund.

Eligibility Requirements:

To be eligible for BetMGM’s $1,000 First Bet Insurance promotion, you must be a new user to the platform. This means that you cannot have an existing account on BetMGM. In addition, the promotion is only available in certain states where BetMGM is legally allowed to operate.

How to Access BetMGM’s $1,000 First Bet Insurance:

Accessing BetMGM’s $1,000 First Bet Insurance is easy. Here are the steps you need to follow:

Step 1:

Click this link to access the promotion.  Once on the BetMGM website, create a new account on the BetMGM platform.  You will need to provide some basic information such as your name, address, and date of birth. You will also need to create a username and password.

Step 2:

Once you have your account created, the second step is to make your first deposit. BetMGM accepts various payment methods, including credit cards, debit cards, and e-wallets. After you have made your first deposit, you will see your balance in the top right of the screen.

Step 3:

Now that you have added funds to your account, it is time to place your bet.  Keep in mind, the first bet placed is the one that will receive the bet insurance.  The bet requirement is that it is a pre-game moneyline and the odds are -200 or greater.

Step 4:

If your bet loses you will receive your refund. BetMGM will refund your account with up to $1,000 in site credit within 24 hours. This site credit can be used to place additional bets on the platform.  The site credit will be divided into five (5) bonus bets that total the amount of your first bet.

ex: You place a $100 bet that loses.  You would receive five (5) $20 bonus bets.

Tips for Maximizing the Benefits of the Promotion:

To maximize the benefits of BetMGM’s $1,000 First Bet Insurance promotion, here are some tips to keep in mind:

  • Place a bet with a higher value to maximize your refund amount.
  • Choose a bet with higher odds to increase your chances of winning.  -200 is the max.
  • Read the terms and conditions carefully to ensure that you are eligible for the promotion.  If you have an account in another state, you will not qualify for the first bet promotion.

Frequently Asked Questions:

Here are some frequently asked questions about BetMGM’s $1,000 First Bet Insurance promotion:

1. What is the maximum refund amount for the promotion?

The maximum refund amount for the promotion is $1,000. This means that if you place a bet of $1,000 or more and it loses, you will receive a refund of up to $1,000.

2. Are there any restrictions on the types of bets that qualify for the promotion?

Yes, only single bets with odds of -200 or higher are eligible for the promotion. This means that you cannot use the promotion on parlays or other types of bets.

3. How long does it take to receive the refund if your bet loses?

If your bet loses and you are eligible for the promotion, you will receive the refund within 24 hours. The refund will be credited to your account as site credit

Access our full library of BetMGM help articles for more information or read our detailed BetMGM review. You can also jump straight to our list of the best sportsbook promotions for your state.

Betting Hero Help Center

Eamonn KeenanEamonn Keenan
Eamonn Keenan, with a Digital Arts Degree from the University of Tampa, brings over a decade of sports betting experience to his role as Creative Director at Starting with Betting Hero in the Fall of 2020, Eamonn has been deeply involved in the industry, assisting customers with major sportsbook and casino operators like BetMGM, Caesars, DraftKings, and others. A self-proclaimed sports fanatic, he has a keen interest in professional hockey, MMA, NFL, NCAAB, NCAAF, and MLB. Eamonn enjoys researching teams and players to predict game outcomes, highlighting his passion for sports betting.