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BetMGM bonus code TRIBUNEMGM generates $1.5K First Bet Insurance offer with any cash sports wager

Action Network
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Chicago White Sox shortstop Tim Anderson, left, turns a double play as Baltimore Orioles' Jordan Westburg tries to break up the play on a ball hit by Adley Rutschman to end a baseball game, Wednesday, Aug. 30, 2023, in Baltimore.

Chicago White Sox shortstop Tim Anderson, left, turns a double play as Baltimore Orioles' Jordan Westburg tries to break up the play on a ball hit by Adley Rutschman to end a baseball game, Wednesday, Aug. 30, 2023, in Baltimore. (Julio Cortez/AP)

The BetMGM bonus code TRIBUNEMGM unlocks an generous First Bet Insurance promotion for new bettors.

Players who use that bonus code to sign up for an account can get up to $1,500 back in bonus bets that can be used for any additional wager on the platform.

Generally, sportsbooks offer new users one of two different types of welcome bonuses: First Bet Insurance or Bet and Get. This promotion is structured as the former.

With this format, new users will need to make a small deposit and place a cash wager to trigger this promotion.

Notably though, the user will only earn bonus bets if their initial wager loses — in which case they’ll get their stake returned in bonus bets.

So, whether your’re a Cubs fan or a White Sox fan, BetMGM is a great option for users looking to place some prop bets or find some action on the money line.

We’ll go into detail about the nature of this promotion, highlight the relevant sign up details and provide some examples of potential bets in the following paragraphs.

BetMGM First Bet Insurance, explained

The structure of this promotion, First Bet Insurance promotion, requires a new user’s first bet to settle as a loss for them to get any bonus bets: hence the use of the term “insurance” in the name.

New users can 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 small cash wager of their choosing to trigger this First Bet Insurance promotion.

Of course, if that first bet wins the user will keep their stake and collect whatever profits they’ve earned. However, if that first wager goes south, new users will get their full stake back in bonus bets — with a limit of $1,500.

For example, if a new user in Arizona placed a $375 cash wager on the White Sox at +110 against the Tigers, and Chicago won, that player would collect just over $412 in profit and keep their initial stake. Notably though, they would not earn any bonus bets.

However, if that same player placed the same value wager and Chicago lost, that bettor would get $375 back in bonus bets that they can spend on any additional wager.

Likewise, if that same player made a bet of $550, 750, $1,200 or even $1,500 they would still be covered by this promotion. Any cash wager, under the $1,500 threshold is permissible.

Critically, bonus bets are distributed proportionally based on a player’s first stake. So any bet of $50 or more will earn a user multiple bonus bets of equal value.

Initial wagers that are less than $50 will earn users just one bonus bets, equivalent to the value of their 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 with BetMGM, new users should review the account conditions explained below to make sure they get the most value out of this First Bet Insurance offer.

Notablty, this promotion is limited to new customers who are at least 21 years old and present in a legal BetMGM state.

While users do not need to be a resident of a legal state to claim this offer, they must be present within legal state limits which the book will verify using geolocation data.

If a player meets those requirements, they can click on any of the modules throughout this piece and use the bonus code TRIBUNEMGM to sign up for an account.

Signing up with that bonus code will automatically register the user for the First Bet Insurance offer.

From there, a bettor can wager up to $1,500 and still get their stake back if their first wager doesn’t hit. If the player’s first bet wins, they’ll collect their profit.

If that first bet loses — any cash wager of up to $1,500 qualifies — that player will get their 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.

Similarly, 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.