Type of Bonus
Risk Free Bet of up to $1,000
Type of Bet
Single Bet
Optimal Strategy
$1,000 bet on longest odds possible. This is in order to maximize the expected value of the refund when you lose a bet.
Theory Behind Optimal Strategy
The theory here is that for a risk-free bet you should maximize upside rather than opting for safety. If you bet $100 at -10000 to win $101, your free bet will only net you a positive gain of $1, and if you lose your bet, you get your $100 back. So the binary outcomes are $100 (loss, free bet cost replaced) and $101 (win). However, if you bet $100 at +1000 to win $1,100, your outcomes are $100 (loss, free bet cost replaced) or $1,100 (win).
Extra Bonus
DFS player? Sign up for BetMGM using the link below and receive three months of free Stokastic+ Platinum access as an added bonus. A $270 value in addition to your free $1,000 bonus.
OddsShopper
Looking to find the best bet on BetMGM? Check out OddsShopper to find high expected ROI bets from our team of data scientists to help maximize your return.
States Legal
NJ, WV, CO, IN, TN, MI, IA, PA, DC
Deposit Required for Maximum
$1,000
Playthrough Required
Not required
*A playthrough, also known as a rollover or wager requirement, details how many times a person has to wager their bonus amount before they can withdraw funds. For example, a 5x rollover requirement means a bettor would have to wager their deposit and bonus amount five times before they could withdraw.
| Site | Type | States | Deposit Required for Max Bonus | Rules | Playthrough Required for Max Bonus | Max Bonus | avg rake | Rake Free EV (break even bettor) | Rake EV | Rake Free ROI | Rake ROI | Optimal Strategy |
| BetMGM | Risk free bet | NJ, WV, CO, IN, TN, MI, IA, PA, DC | $1,000.00 | n/a | $1,000.00 | 4% | <$1000 | <$960 | 100% | 96% | $1,000 bet on longest odds possible. This is in order to maximize the expected value of the refund when you lose a bet. |
