BetMGM bonus code TRIBUNEMGM generates up to $1K for MLB, any other sports wager

The BetMGM Sportsbook bonus code TRIBUNEMGM unlocks a generous First Bet Insurance offer for new bettors. Readers can use that bonus code when signing up with BetMGM and get their initial bet covered with up to $1,000 in bonus bets.

Most American sportsbooks offer some kind of welcome promotion typically in one of two forms: Bet and Get offers or First Bet Insurance offers. This BetMGM promotion is structured as a First Bet Insurance promotion.

With that offer, users will get their complete stake back in bonus bets — capped at $1,000 — if their initial wager doesn’t win.

So whether you prefer to wager on the NFL preseason or the MLB, BetMGM has you covered.

We’ll go into more detail about the nature of this promotion and highlight the critical sign-up conditions in the paragraphs below.

BetMGM bonus code offer, explained

Since this offer is structured as First Bet Insurance, a new user’s initial wager will have to settle as a loss for them to get any bonus bets.

Essentially, users will click on one of the modules throughout this article and use the bonus code TRIBUNEMGM to sign up for an account with BetMGM.

From there, the user will need to place a cash wager to trigger this First Bet Insurance promotion.

Naturally, if that first wager wins users will keep their stake and collect whatever profits they’ve earned. However, if that first wager goes south, new users will get their complete stake back in bonus bets — capped at $1,000.

Notably though, once users deploy the bonus code to sign up with BetMGM they’ll need to make a small cash deposit to register their account and place a real-money (cash) wager.

From there, users can wager up to $1,000 and be covered by the First Bet Insurance offer. Once that initial wager settles as a loss, the user will be eligible to get their stake back in bonus bets.

For example, if a new users in Illinois placed a $250 cash wager on the White Sox at +140 against the Cubs and the Sox won, that bettor would keep their stake and collect $350 in profit.

However, if the user placed the same wager and the Cubs won, they would not get their stake back nor would they collect any profit but they would get $250 in bonus bets.

Bonus bets are distributed proportionally, based on the user’s initial stake. So any wager of $50 or more will earn a user multiple bonus bets of equal value, while any wager of less than $50 will earn a user one bonus bet equal to their initial stake.

Any bonus bets earned from this promotion are valid for one wager a piece and thus cannot be withdrawn or cashed out without being wagered first.

BetMGM sign-up details

Before signing up with BetMGM, new users should review the conditions outlined below to ensure they get the most out of this First Bet Insurance offer.

First and foremost, this promotion is limited to new customers who are at least 21 years old and present in a legal BetMGM state. Users do not need to be a resident of the state but must be present within state limits which the book will verify using geolocation data.

If bettors meet those requirements, they can click on any of the modules displayed throughout this piece and use the bonus code TRIBUNEMGM to sign up for an account with the betting giant.

Additionally, that bonus code will unlock the First Bet Insurance offer for new users.

From there, a user can wager up to $1,000 and still be covered by the BetMGM First Bet Insurance promotion. When that first wager settles as a loss, they’ll get their complete stake back in bonus bets.

Bonus bets earned from this promotion are valid for one wager a piece and cannot be cashed out or withdrawn without being wagered first.

Likewise, any bonus bets earned from this offer will typically be distributed within 24 hours after the qualifying wager settles and will remain valid for up to seven days after distribution.