BetMGM Bonus Code: PLAYLSR for up to $1,500 Back in Bonus Bets if First Bet Loses

Reviewed by:

Martin Green

Last Updated:

May 14, 2025

4.6/5

★★★★★

Payout Speed

4.5/5

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App / UX

4.7/5

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Bonus / Promos

4.6/5

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Props / Odds

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The newest BetMGM bonus code is PLAYLSR, use it when you open a new account to claim $1,500 in bonus bets. After depositing at least $10, your first bet will be covered by BetMGM for up to $1,500. If you lose that bet, BetMGM refunds you in bonus bets.

Up to $1,500

In Bonus Bets

Top Features

• Up to $1,500 in Bonus Bets if Your First Bet Doesn't Win*

• *Bonus Bets Expire in 7 Days. One New Customer Offer Only. Add’l terms. 21+. Gambling Problem? Call 1-800-GAMBLER

• Use Bonus Code: PLAYLSR

BetMGM Sportsbook Review

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BetMGM bonus code for new users

The BetMGM bonus code sign-up offer changes from time to time, so it’s always good to be update to date on the latest offer when signing up for a new BetMGM Sportsbook account. Here are the latest details about the BetMGM bonus code offer as of May 16, 2025:

What to know about the latest BetMGM sign-up bonus

Your first cash bet at BetMGM is covered for up to $1,500 when you sign up using the BetMGM bonus code PLAYLSR. Here’s everything you need to know about how it works.

How to claim the BetMGM promo code

To claim the $1,500 BetMGM welcome bonus, start by clicking the Claim BetMGM Bonus button at the top of this page. Then, click the gold Sign Up button. You will be taken to the BetMGM Sportsbook sign-up page.

First, you’ll enter your email address. Next, you must create a password that is at least eight characters long. One of those characters must be a number, and it must contain both upper- and lowercase letters. The next page requires you to enter the final four digits of your Social Security Number and your mobile phone number. BetMGM then requires you to enter your name and date of birth. Finally, on the final page of the BetMGM Sportsbook sign-up process, you will enter the BetMGM bonus code PLAYLSR to be eligible for the $1,500 sign-up offer.

What is the bonus code for BetMGM?

The BetMGM bonus code is PLAYLSR and it is your ticket to unlocking an exclusive welcome offer worth up to $1,500. You’ll also qualify for other special offers when you join the BetMGM Sportsbook. By entering the code during registration or deposit, you gain access to welcome bonuses, such as no-sweat bets, deposit matches, or boosted bets. These bonuses are designed to give new users a head start and enhance their sports betting experience. Remember to check the terms and conditions for details on wagering requirements and eligible markets.

Exciting games to bet on with this week’s BetMGM Sportsbook promo

Here is a look at some of the top betting options this week at BetMGM Sportsbook:

NBA Playoffs

The Eastern Conference Semifinals and Western Conference Semifinals of the NBA Playoffs continue this week. Check out our top NBA Playoff game to bet on each day this week:

• Wednesday | Game 5, Golden State Warriors at Minnesota Timberwolves, 9:30 p.m. ET, TNT/truTV/Max
• Thursday | Game 6, Oklahoma City Thunder at Denver Nuggets, time TBD, ESPN
• Friday | Game 6, Boston Celtics at New York Knicks, 8 p.m. ET, ESPN, if necessary
• Saturday | No games scheduled
• Sunday | Game 7, Denver Nuggets at Oklahoma City Thunder, time TBD, if necessary

NHL Stanley Cup Playoffs

The Stanley Cup Playoff Conference Semifinals are this week, and you can bet on all the games using the BetMGM Sportsbook iOS and Android apps. These are our favorite NHL Playoff games for each day this week:

• Wednesday | Game 5, Edmonton Oilers at Vegas Golden Knights, 9:30 p.m. ET, ESPN
• Thursday | Game 5, Carolina Hurricanes at Washington Capitals, 7 p.m. ET, TNT/truTV/Max
• Friday | Game 6, Toronto Maple Leafs at Florida Panthers, time TBD, TNT/truTV/Max
• Saturday | Game 6, Winnipeg Jets at Dallas Stars, time TBD, if necessary
• Sunday | Game 7, Edmonton Oilers at Vegas Golden Knights, time TBD, TNT/truTV/Max, if necessary

MLB Regular Season

It’s another full week of Major League Baseball games. And you can bet on all of them using the BetMGM Sportsbook app for iOS and Android. Here’s one MLB game each day that we’re excited for:

• Wednesday | New York Yankees at Seattle Mariners, 4:10 p.m. ET
• Thursday | Houston Astros at Texas Rangers, 8:05 p.m. ET, MLB Network
• Friday | Seattle Mariners at San Diego Padres, 9:40 p.m. ET, Apple TV+
• Saturday | Atlanta Braves at Boston Red Sox, 7:15 p.m. ET, FOX
• Sunday | New York Mets at New York Yankees, 7 p.m. ET, ESPN

PGA Tour

The second golf major of the season tees off this week as the PGA Championship returns to Quail Hollow Club in Charlotte, NC. Use your BetMGM Bonus Code to bet on Xander Schauffele as he looks to defend his title or on Rory McIlroy has he looks to go 2-for-2 at Majors this season.

Other BetMGM bonuses for May 2025

Here’s a look at all the BetMGM bonus codes available in May:

We’ve now covered all the welcome bonus information at BetMGM Sportsbook, next up is a look at the promotions that are available for new and existing users.

BetMGM promos for existing users

In addition to the $1,500 BetMGM bonus code welcome offer for new users, you’ll find a number of promotions for all users. Here are the best BetMGM Sportsbook promotions available on May 16, 2025:

• NBA Second-Chance on First Field Goal Scorer Promo | Get a cashback refund if your pick to score the first field goal of an NBA game instead scores the second field goal of the game.
• NBA Playoffs Odds Boost | Claim an odds boost token to use on an NBA Playoffs game wager this week at BetMGM Sportsbook.
• NHL Playoffs Odd Boost | Get an odds boost token to use on an NHL Playoff game this week at BetMGM Sportsbook. No BetMGM bonus code is required.
• $10,000 NHL Hat Trick Jackpot | Log into BetMGM Sportsbook and opt into the NHL Hat Trick Jackpot promo for a chance to win up to $10,000 in bonus bets. After opting in, place a bet of $10+ on an anytime goal score market. If your player scores 3+ goals during the game, you’ll win a share of $10,000 in bonus bets. One eligible bet per game.
• NHL Second-Chance on First Goalscorer Promo | Get a cashback refund if your pick to score the first goal of the game finds the back of the net for the second score of the game.
• Watch MLB.TV Free Game of the Day | BetMGM Sportsbook users can watch the MLB.TV Free Game of the Day on the BetMGM Sportsbook app.
• PGA Championship No-Sweat Bet | Claim a no-sweat bet for this week’s PGA Championship and get a bonus bet back if your bet loses. To qualify for the bonus bet refund, your bet must be on the first round leader market offered by BetMGM Sportsbook.
• Golf Second-Chance Cashback Promo | Bet on a golfer to win this week’s PGA Tour event and get a cashback refund if your pick finishes in second instead.
• Parlay Profit Boost | All BetMGM Sportsbook users can claim a profit boost token to use on a parlay wager.

BetMGM NBA playoff promos

You’ll find a number of BetMGM NBA promotions throughout the postseason. Some of these come in the form of no-sweat bets, while others are profit boosts for straight and parlay bets. But our favorites are the BetMGM NBA Original Bets.

BetMGM Original Bets are exactly what they sound like, specific bets that you’ll only find at BetMGM Online Sportsbook. To find these wagers, click on an NBA game and then choose the Original bets tab. Some of the options you’ll find are: which player will win the tip, the time the first point will be scored, whether both teams will score in the first minute, whether 10+ points will be scored in the game’s first two minutes, any player to make a 35+ foot three-pointer and much more.

Be sure to log into your BetMGM Sportsbook account and head to the BetMGM Promotions page daily to take advantage of all the exciting offers. Here are the current NBA promotions going on at BetMGM Sportsbook:

• NBA Playoffs Odds Boost | Claim an odds boost token to use on an NBA Playoffs game wager this week at BetMGM Sportsbook.
• NBA Second-Chance on First Field Goal Scorer Promo | Get a cashback refund if your pick to score the first field goal of an NBA game instead scores the second field goal of the game.

BetMGM NHL playoff promos

Check out the Stanley Cup Playoff promotions being offered at BetMGM Sportsbook on May 16, 2025:

• NHL Second-Chance on First Goalscorer Promo | Get a cashback refund if your pick to score the first goal of the game finds the back of the net for the second score of the game.
• NHL Playoffs Odd Boost | Get an odds boost token to use on an NHL Playoff game this week at BetMGM Sportsbook. No BetMGM bonus code is required.
• $10,000 NHL Hat Trick Jackpot | Log into BetMGM Sportsbook and opt into the NHL Hat Trick Jackpot promo for a chance to win up to $10,000 in bonus bets. After opting in, place a bet of $10+ on an anytime goal score market. If your player scores 3+ goals during the game, you’ll win a share of $10,000 in bonus bets. One eligible bet per game.

BetMGM MLB promos

With the Major League Baseball season finally in full swing, BetMGM Sportsbook has MLB specials, bonuses and promos going on throughout the week.

Be sure to log into your BetMGM Sportsbook account and head to the BetMGM Promotions page daily to take advantage of all the exciting offers.

• Watch MLB.TV Free Game of the Day | BetMGM Sportsbook users can watch the MLB.TV Free Game of the Day on the BetMGM Sportsbook app.

BetMGM Sportsbook sign-up bonuses by state

Here’s a rundown of the BetMGM bonus code sign-up offer by state:

What excites me about the BetMGM welcome bonus

BetMGM’s bonuses stand out because of their variety and value. From the generous $1,500 welcome offer to ongoing promotions for existing users, there’s always an opportunity to maximize your winnings.

What’s particularly exciting is the platform’s tailored approach — whether you’re betting on baseball, basketball, hockey, golf, or even niche sports, there’s likely a promo designed for your interests. Additionally, BetMGM often runs time-limited deals tied to major sporting events, adding an extra layer of excitement to the action.

What I’d value most in BetMGM sign-up promo

The most valuable aspect of BetMGM Sportsbook’s promotions is their user-friendliness and versatility. I appreciate promos that cater to both casual bettors and high rollers, offering clear terms and significant rewards.

For instance, BetMGM’s second-chance touchdown promo during the NFL playoffs is perfect for trying out the platform without excessive risk. Equally important are loyalty rewards and regular odds boosts, which keep long-term users engaged. Transparent terms, quick payouts, and wide eligibility for different sports markets are the features I’d value most.

BetMGM bonus eligibility requirements

Just like any other legal online sportsbook, BetMGM must adhere to the rules in the areas where it operates. Here are the main points to know:

How bonus bets work

There are multiple ways to claim bonus bets at BetMGM Sportsbook. You could get them via the $1,500 BetMGM bonus code sign-up offer, from various BetMGM promos available to all users or you could be awarded them by BetMGM for a random reason. But now that you’ve got a bonus bet, you need to make sure you know how they work. Here’s a quick, easy to understand summary of how BetMGM bonus bets work:

• First, BetMGM bonus bets expire seven days after being issued. This simply means you need to use them within seven days of receiving them. Your bet with them doesn’t need to be settled within the seven-day window, your bet just needs to be placed within seven days.
• To use a bonus bet, select whatever wager you want to make. Then in the BetMGM Sportsbook betslip you’ll see an option for applying a bonus bet. Simply select the bonus bet and then place the bet.
• The last thing to understand about BetMGM bonus bets, is that you do not get the value of the bonus bet back if you win. You only get the winnings. Let’s look at an example of a bonus bet wager and a cash bet wager to make this easier to understand.
  • $100 Cash Bet | For this example let’s say you place a $100 cash bet on a wager with +100 odds. If you win that bet you’ll get $200 added to your BetMGM account, $100 is your winnings from the bet, the other $100 is your original wager being added back to your account.
  • $100 Bonus Bet | Everything about the bet stays the same, except instead of placing the bet with cash, you use a $100 bonus bet and again, you win your +100 bet. This time though, only $100 gets added to your BetMGM Sportsbook account. Only the $100 in winnings is added, the value of the bonus bet does not carry over.

And that is everything you need to know about how BetMGM Sportsbook bonus bets work.

Easy wins for beginners using BetMGM promo

Sports betting is challenging, and there’s no such thing as a sure thing; however, thanks to the sportsbook promos, bonuses and specials offered at BetMGM Sportsbook, winning is slightly easier than it is at other sports betting sites.

It all starts with the BetMGM bonus code welcome offer worth up to $1,500. The BetMGM sign-up bonus covers the first cash bet you make for up to $1,500. That means if your opening bet loses, you’ll get a refund in BetMGM bonus bet(s). While bonus bets aren’t as good as cash, the way BetMGM refunds users is better than what you’ll find elsewhere.

As long as your first bet is for $50 or more, you get five bonus bets as a refund instead of just one. For example, if you make an lose a $100 bet, you’ll receive five $20 bonus bets, as opposed to a single $100 bonus bet like you would get at Caesars Sportsbook. You still have the option of putting the full $100 worth of bonus bets on one wager if you want. But, now you also have the option of spreading those bonus bets out over five separate wagers. So that’s one way that BetMGM Sportsbook makes it easier to win for beginners.

Another way that BetMGM makes winning easier is by offering a multitude of promotions. For instance, if you like betting on first touchdown scorers in the NFL, BetMGM will refund your bet (in cash!) if your bet to score first doesn’t score first, but instead scores the game’s second TD. BetMGM also offers promos, bonuses and specials for all the top sports. Some of these bonuses are no-sweat offers, others are for profit boosts.

And a final way that BetMGM Sportsbook makes winning easier for new sports bettors is by having among the best odds around. While technically, this doesn’t make winning any easier, it does mean you’ll be rewarded more for your wins, which will help grow your bankroll at BetMGM and that’s really what you’re hoping to do.

Using BetMGM bonuses to build your bankroll

Betting on sports is hard, thankful all the bonuses and promotions offered at BetMGM Sportsbook make it a little easier to build up your bankroll. The first step to building your bankroll at BetMGM Sportsbook is to sign up using the BetMGM bonus code PLAYLSR.

This two-part bonus should really help you increase your bankroll at BetMGM. Ideally, you’ll win your first bet and you won’t need the bonus bet refund. But if your first bet doesn’t win, you’ll be glad you have a safety net of sorts to help catch you.

After claiming the BetMGM sign-up bonus, you’ll now turn your attention to the regular promos, bonuses, and specials that the sportsbook has to offer. These can really assist in building up your bankroll.

Most days, BetMGM Sportsbook offers a Lions Boost, which is basically a super-boosted bet. While the bet winning is not a sure thing, when it does hit, you’ll get more money in return thanks to the boost. BetMGM also has a number of other promotions going on daily to help you in building your bankroll. You’ll find profit boosts, which allow you to create your own parlays and see your profits go up if you win. There also are no-sweat offers that work just like the welcome bonus, meaning you get a bonus bet back if your qualifying bet loses. Lastly, BetMGM runs a number of free-to-enter contests. Truthfully, winning money from these are challenging because so many people enter, but you literally have nothing to lose.

As a reminder, while the BetMGM bonus code sign-up offer and all the promotions and bonuses BetMGM Sportsbook has make building your bankroll easier, it’s still not a sure thing. Also, make sure you read the terms and conditions of any bonus offers to be sure your bets qualify for the promotion being offered. Good luck!

How to cash out BetMGM bonus winnings

Cashing out bonus winnings on BetMGM is straightforward if you follow these steps. First, review the bonus terms, including wagering requirements, minimum odds, and expiration dates, to ensure you meet all conditions. Strategically place bets by focusing on confident wagers or dividing the bonus into smaller bets to increase your chances of winning. Verify your account details, such as your personal and payment information, to avoid withdrawal delays. Once the bonus winnings convert to withdrawable cash, visit the “Cashier” section, choose your preferred withdrawal method (e.g., PayPal or bank transfer), and complete the transaction. BetMGM processes withdrawals efficiently, usually within a few business days, so you can enjoy your earnings without delay.

How to sign-up for BetMGM’s online sportsbook

The sign-up process at BetMGM is simple and takes just a few minutes. You can take care of it right on your computer or mobile device. You can use this link to visit BetMGM.

1. The first step is to enter an email address. Make sure that it’s one that you regularly check, as BetMGM will email various promotional offers. Afterward, you’ll choose a password, enter the BetMGM bonus code PLAYLSR and click continue.
2. From there, you’ll follow the prompts and enter your details. It’s all basic information that any legal online sportsbook will require, including your name and address and the last four digits of your Social Security number.
3. The final step is to enter a bonus code. Here, you enter the BetMGM Sportsbook bonus code “PLAYLSR“, confirm that you’ve read the terms and conditions, are located in a legal betting state and that you are at least 21, or older.

BetMGM will verify your identity as part of the sign-up process. If there’s any trouble doing so, you’ll receive a notification to provide supporting documentation. Once that’s all set, you’ll add some security questions, verify your age and accept the terms and conditions. It’s generally quick and painless, but if you happen to run into any hangups, BetMGM customer support should be able to help.

Banking options for BetMGM bonus

BetMGM has a number of banking methods for both deposits and withdrawals. The exact methods may vary by market, but there’s a good selection of options in each of the legal states in which it currently operates. Each method will have their own minimum and maximum limits, and sports bettors can cash out instantly with debit cards.

• ACH e-check
• BetMGM Play+
• Credit and debit card: Mastercard, Visa, or American Express
• Check by mail
• Online banking transfer
• PayNearMe
• PayPal
• Retail casino cashier
• Skrill
• VIP Preferred

The cashier function on the website and app is where you’ll move money in and out. It’s easy to use and lists all of the available options. Deposits process instantly (minimum $10), while withdrawals take some time for internal processing.

When taking money out, you can expect the transaction to process within 24 hours in most cases. Online banking and VIP Preferred can take a few business days. Once BetMGM releases the funds, the processing time can vary depending on the method.

You could see your funds as soon as the next day with PayPal or Play+, while others could take a little longer. BetMGM has complete information for all of its accepted funding methods in the help section on its site.

Is BetMGM Sportsbook legal?

Yes, BetMGM is a legal and safe sportsbook. It operates in nearly two dozen states and the District of Columbia with plans to expand into additional markets.

Here’s a look at the states where BetMGM is currently available. For additional information, just click on our state-specific links.

Encouraging responsible gambling with BetMGM

BetMGM is committed to promoting responsible gambling and ensuring a safe betting environment for all users. The platform provides tools like deposit limits, time-outs, and self-exclusion options to help players stay in control.

Additionally, BetMGM partners with organizations like Gamblers Anonymous and the National Council on Problem Gambling to offer resources and support for anyone facing gambling-related challenges. By prioritizing player well-being, BetMGM demonstrates its dedication to creating a balanced and enjoyable sports betting experience.

BetMGM bonus FAQs

Is there a bonus code for BetMGM?

Use the BetMGM bonus code PLAYLSR and the first bet you place with BetMGM Sportsbook will be refunded if it loses for up to $1,500. The refund comes as BetMGM bonus bets.

How does the BetMGM welcome offers work?

Our exclusive BetMGM welcome bonus gives you up to $1,500 in bonus bets. Use the promo code PLAYLSR during registration to claim this offer. Deposit funds, place your first cash bet, and if that bet doesn’t win, BetMGM will refund your wager in bonus bets up to $1,500.

How do you get the $1,500 bonus on BetMGM?

To get the $1,500 bonus on BetMGM, sign up with the promo code PLAYLSR, make your first deposit, and place a cash bet. If your initial bet loses, BetMGM will refund your wager in bonus bets, up to $1,500. These bonus bets must be used within seven days and cannot be withdrawn as cash.

Does BetMGM offer a no-deposit welcome rewards?

No, BetMGM does not currently offer a no-deposit bonus. However, by depositing and placing your first cash bet, you can qualify for up to $1,500 in bonus bets if your bet loses.

Can I claim more than one BetMGM sign-up promo?

No, you can only claim one welcome bonus per BetMGM account. However, once you’re signed up, you’ll have access to additional promotions for existing users. Note that BetMGM’s sportsbook welcome offer cannot be combined with bonuses from its casino, poker, or other platforms.

Where do I enter a promo code on the BetMGM app?

You can enter the promo code PLAYLSR during the registration process in the designated field. Make sure to include this code to ensure eligibility for the $1,500 welcome bonus. If you leave the field blank, you may not qualify for this specific offer.