BetMGM’s Risk-Free Bet offer is a promotional feature designed to attract new customers and give them a safety net for their first bet. The specifics of the offer can vary over time, but generally, here’s how it works:
1. **Sign Up**: New customers must sign up for an account with BetMGM through their website or mobile app. You may need to use a specific promotional code if the offer requires it.
2. **First Bet**: Once you’ve registered and funded your account, you place your first bet. The amount of the risk-free bet is often capped at a certain limit, which is specified in the terms of the promotion.
3. **Qualifying Bet**: The first bet must meet certain criteria to qualify for the risk-free aspect. This usually means it must be a single bet (not a parlay) and may have minimum odds requirements.
4. **Result**: If your first bet wins, you keep the winnings as usual. If your first bet loses, BetMGM will refund the stake of that bet, up to the specified limit, in the form of “site credit” or “free bets.”
5. **Refund**: The refund does not come as cash but as a non-withdrawable site credit, which you can use to make subsequent bets. There may be additional terms on how you can use this credit, including expiration dates and further betting requirements.
6. **Wagering Requirements**: Often, any winnings from the risk-free bet credit will have to be rolled over a certain number of times before they can be withdrawn. These requirements are detailed in the promotion’s terms and conditions.
7. **Terms and Conditions**: It’s important to read the terms and conditions of the risk-free bet offer carefully. There may be restrictions on certain types of bets, such as props, futures, or live betting. Additionally, the terms will outline any state-specific rules, as gambling laws can vary by jurisdiction.
BetMGM and other sportsbooks reserve the right to change the terms of their promotions, so it’s always a good idea to check the latest details on their website or contact customer service for the most up-to-date information. Remember that while a risk-free bet can mitigate some of the risk of your first wager, it’s still important to gamble responsibly.
