Connect with us

BetMGM

BetMGM Sign-Up Bonus: How to Best Take Advantage of your RISK FREE BET and MAXIMIZE ROI

Staff Writer

Published

on

The data you need to know to MAXIMIZE your Return on Investment from your BetMGM sign up bonus promo code, from our team of math wizards.

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.

Get a $1,000 risk free bet + 2 months FREE of Awesemo+ platinum all-access!

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 Awesemo+ 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

Get a $1,000 risk free bet + 2 months FREE of Awesemo+ platinum all-access!

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.

Sign up to Receive Expert DFS Advice & Exclusive Offers From Stokastic

Subscriber Counter

We respect your email privacy