BetMGM Colorado Promo Code & Sportsbook Review 2020

Up to $500
Risk-Free Bet - T&C's Apply
4.2





Overall
Bonuses and Promotions




3.5
Odds VS. The Competition




4.0
Market Depth & Variety




4.0
Deposit & Cash Out





5.0
Mobile App





4.5

Bottom Line

BetMGM is one of Colorado’s sportsbooks directly tied to a casino brand. However, while BetMonarch offers loyalty points for its sportsbook patrons, BetMGM doesn’t. That means using BetMGM won’t get MGM loyalty members any closer to a free room. Its app is good, but a little cluttered. BetMGM is good for casual players holding out hope that BetMGM will have the best odds on certain betting lines. There are plenty of sports to choose from, but bettors will likely find better odds on common sports elsewhere.

Average Bonus
Banking Options
Fine App

See BetMGM in Action

 

BetMGM Colorado Sportsbook Bonus Code 2020

BetMGM offers a risk-free bet of up to $500 dollars on your first wager. Use the BetMGM bonus code: SHARP to receive the best possible sign-up bonus. You can also follow any of our exclusive links and you will be automatically credited with the bet but best to do both!

BetMGM Colorado Bonus Code
SHARP
Risk Free Bet
Up to $500. Requires a minimum $10 deposit.
BetMGM Sportsbook States
Colorado, Indiana, New Jersey, West Virginia
Last Verified
September 2020
3.5





Promos

Bettors have now seen the $500 risk-free bet available at BetMGM. Want to know how that stacks up against other sportsbooks? We compare against six other legal Colorado sportsbooks:

  • FOX Bet’s $500 risk-free bet and $500 deposit bonus ($1 for every $2 deposited, up to $500)
  • DraftKings’ $500 deposit bonus ($1 for every $5 deposited up to $500), and a $500 free bet
  • FanDuel’s single risk-free bet of up to $500
  • BetMGM’s single risk-free bet of up to $500
  • BetRivers’ $250 match
  • BetMonarch has no welcome bonus (as of this writing)

BetMGM’s welcome bonus is a meager offering compared to the deposit bonuses at DraftKings and FOX Bet. However, don’t think that BetMGM’s and FanDuel’s promotional options are close to even. FanDuel has ten times as many promotions running as BetMGM right now. Most of them involve small event-specific bets, but they’re great for fans of the teams the promotions are centered around.

Hopefully, BetMGM will offer more promotions as sports season start to normalize. Their current selection won’t cut it for bettors who regularly take advantage of promotions.

4.0





Odds

There’s no single trend that pops from BetMGM’s betting lines. Its odds very from incredible odds, to terrible odds, to okay odds. Here are two sets of lines from the NFL’s first week of games.

 BearsLions TitansBroncos
BetMGM+110-130+105-125
DraftKings+112-136+108-130
BetRivers+112-136+108-130
FanDuel+108-128+110-130
Fox Bet+105-125+105-125
Sky Ute Sportsbook+108-122+100-110
Bet Wildwood-105-135-105-135

Most of BetMGM’s odds end up somewhere in the middle of the rest of the sportsbooks. BetMGM has two lines on the underdog and two on the favorite to win where it comes out on top. However, most of its odds look like the table above. They’re moderate odds that aren’t extreme one way or the other.

Astute bettors know I could’ve plucked two lines from any sportsbook and found this comparison. However, several sportsbooks, like DraftKings, FanDuel, and FOX Bet, have identifiable trends that become apparent after a few comparisons. BetMGM doesn’t have a consistent trend on any part of a betting line. It’s a wild card that bettors will have to check if they shop around for odds. However, most of its NFL lines aren’t anything special.

4.5





Depth

BetMGM offers over two dozen sports to wager on. Bettors can find familiar professional sports like football, baseball, and basketball. However, they can also find obscure sports like snooker, biathlon, and handball. Each of these sports is further broken down by league. Soccer is always full of international leagues, and baseball is a familiar favorite in many countries, too. 

However, BetMGM often waits to offer lines until days before certain matches. In August, DraftKings offered NFL game lines through December 27. BetMGM had NFL game lines through September 14. BetMGM still seems to be hedging its bets and not allowing its oddsmakers to set odds for games that remain uncertain. 

That could put BetMGM at a slight disadvantage because bettors may not be able to wager weeks in advance. Bettors who want to wager on game lines far into the future would not like BetMGM. But for most bettors who pick the next upcoming game to bet on, BetMGM is fine. Since BetMGM offers M-Life reward points, bettors may find waiting a few days to place their bets worth it.

5.0





Cashout

Like all legitimate sportsbooks, BetMGM is good at accepting and awarding money. The withdrawal options are standard options common to most sportsbooks. All six of them are:

  • E-check
  • Mastercard
  • Visa
  • PayPal
  • Online Banking Transfer
  • Cash Deposit at:
    • 7-Eleven
    • CVS
    • Family Dollar

The most important deposit option available is the online banking transfer. I’ve said it before, and I’ll say it again. It’s the best deposit option available. Bettors can transfer a maximum of $2,000 a day to BetMGM without having to worry about some other site like a credit card service provider or PayPal. Although, bettors who want to self-impose a limit may prefer depositing funds with a debit or credit card instead.

The withdrawal options are a lot more limited. The two withdrawal options are:

  • E-check
  • PayPal

Both options are solid options. E-checks are probably the most convenient, but anyone with a PayPal account can use that option, too. As with most sportsbooks, BetMGM has more deposit options than withdrawal options. Ensuring the account holder is the one receiving the money is harder than accepting deposits. But it’s all part of the job for a sportsbook that obeys federal anti-money laundering regulations.

4.5





App

One of the best things about BetMGM is its app. The app is straightforward to navigate. The most popular and timely lines are available at the top of the screen.

If you’re a betting fan looking for a game for a quick bet, you don’t have to waste time looking for a popular line. However, if you have a specific sport in mind, the list of available sports from A to Z are at the bottom of the screen. Bettors’ bet slips and past bets are at the bottom of the screen for easy access, too. All the main menus are just super easy to access.

However, there’s a lag between clicking on a line and the next screen loading. If you’re used to DraftKings and FanDuel’s smooth apps, then BetMGM will feel a little clunky. The screen looks crowded, too, but that’s a common irritant among sportsbook apps. There’s only so much they can cram into a text box.

If you know what you’re looking for, then BetMGM is a great app to navigate. It does a good job of directing bettors to popular bets, which is great for bettors in a rush. But overall, BetMGM has a good app.

4.2





Overall

BetMGM has a poor selection of bonuses and promotions, and its odds can be the best or worst on any given line. At launch, bettors couldn’t accumulate loyalty points, which was surprising from a casino-run sportsbook. BetMonarch offered loyalty points from day one.

In summer 2020, BetMGM bets began counting toward Mlife rewards. Mlife is MGM Resorts’ loyalty program, so bettors can wager their way to comped meals and hotel rooms. It takes a while to accumulate points, though. It takes 20,000 points to reach the next loyalty tier, so bettors may be in it for the long haul. But anyone who frequents MGM Resort properties should strongly consider creating a BetMGM account.

The potential exists for BetMGM to be a standout sportsbook. The app looks good and works well. It has lots of betting options–although, those options may not appear until a day or two before game-time–and a wide variety of choices to choose from. The app also nails the deposit and withdrawal process. But these bare-bones functions don’t make up for its shortcomings compared to the other sportsbooks.

BetMGM isn’t a bad sportsbook, but it’s not the best at anything. If its sportsbook offered loyalty points, it would be a game-changer and a strong competitor against BetMonarch. But right now, other than checking BetMGM to compare odds, bettors don’t have to worry about missing much from BetMGM. It’s exceedingly average in a strong field of sportsbooks.

Is BetMGM Colorado Sportsbook Legit?

Yes. BetMGM is a real sportsbook, not some shady operation in a back closet outside of American jurisdiction. There are many reasons to trust that BetMGM is a real business, but here are five straightforward ones.

BetMGM’s Colorado License

A state license binds legal sportsbook operators to certain standards of conduct. It’s a requirement that holds sportsbooks accountable to its bettors by, among other things:

  • Allowing patrons to file complaints with the Colorado Division of Gaming.
  • Requiring sportsbooks to keep cash reserves so they can guarantee bettors their winnings.

However nice offshore sportsbooks may seem, they are not legally bound to serve their international patrons the same way that local sportsbooks are. And if an offshore site doesn’t pay up, there’s nothing bettors can do about it.

BetMGM Can Be Closed If It Wrongs Its Patrons

Colorado’s Division of Gaming can suspend or revoke a sports betting license if it finds a sportsbook’s conduct improper. It’s a last resort, but it’s a way for any illegitimate sportsbooks to be removed from Colorado’s sports betting space. BetMGM would likely never make it this far, but it’s good to know that there’s a final safeguard that protects bettors across Colorado.

BetMGM Must Exclude Certain Patrons

Not everyone can bet at Colorado’s sportsbooks. There’s the obvious age restriction of 21, but there are plenty of other people that sportsbooks cannot take bets from. That includes athletes, coaches, and self-excluded bettors. BetMGM risks its license if it accepts a bet from a prohibited bettor. So, patrons can trust that BetMGM is making an effort to make sports betting fun instead of a vampiric drain on personal finances.

BetMGM’s Required House Rules

The Division of Gaming requires certain house rules to be in place at sportsbooks, including:

  • How odds and winnings are calculated.
  • Which bettors are prohibited from wagering.
  • How customers can file complaints with the sportsbook.

These standardized rules ensure all licensed sportsbooks play by the same fair rules for bettors.

No False Advertising

Per Rule 10 of the Division of Gaming’s sports betting regulations, licensed sportsbooks cannot falsely advertise. That protects bettors from sportsbook promotions that rob bettors of their money. Bettors won’t find ambiguous bets at BetMGM or any other licensed Colorado sportsbook. They’ll be able to trust the terms and conditions of every advertised bonus and promotion.

Why Choose BetMGM Over Your Local Bookie?

Illegal sportsbooks have dominated the sports betting industry for a long time. It’s been the only option for so long, that legal sportsbooks are at certain disadvantages. They’re entering the sports betting industry late, and many bettors already have illegal sportsbook connections.

However, they should sever those connections. Those bets are illegal. Getting caught betting at an illegal sportsbook would be a class 1 petty offense that could result in:

  • Up to six months in jail.
  • Up to $500 in fines.

While online sportsbook wagers are difficult to track with VPNs, meeting bookies in person is easy fodder for a determined sting operation. In fact, a Colorado bookie was arrested in 2012 for running an illegal sports betting operation for thirty years. The state sentenced him to four years–down from the original twelve years proposed by the judge. While bettors wouldn’t face penalties that stiff, they would be opening themselves up to legal action if they were caught.

But if safety is a secondary concern, then bettors should worry about whether their money is safe. Since many bettors use bank transfers and credit cards to wager, data security is an important concern. Luckily, licensed Colorado sportsbooks undergo a state audit and must meet certain security requirements for collecting bettor information.

Offshore betting sites don’t have to undergo stringent examinations. Some might make efforts to keep bettor information safe, but others may steal financial information instead. Even recognizable names that mean well could have lax security standards that allow hackers to steal sensitive information.

How big a chance do you want to take with your financial information?

Why Can Bettors Trust Their Money With BetMGM?

Some bettors may get squeamish about uploading their social security or credit card number to a sportsbook. However, licensed sportsbooks have robust security measures, and BetMGM is no exception. In fact, BetMGM praises its SSL certificate in its FAQ section.

SSL is a standard security protocol on the internet. It means that a website encrypts its data from end to end. From the moment you hit ‘enter’, your social security number becomes a coded message instead of plain text. That keeps hackers and unwanted third parties from reading your social security number. The only people that will see that information will be whoever you send that information to.

SSL also ensures the person you think you’re sending your information to really is who they say they are. When a website secures an SSL certificate, it gets a private virtual key. There’s a public key can be distributed across the internet, but there’s only one private key. The little padlock in the web address bar means that website only has a private key that can unlock a user’s data.

Bettor information is as safe as it can be at BetMGM.

BetMGM Fact Table

Required Colorado bettor age21
States where BetMGM is legalCO, NV, WV, IN, NJ
BetMGM Colorado partnerMidnight Rose Hotel and Casino

BetMGM Colorado Sportsbook FAQ

Do Bettors Have To Be In Colorado To Bet?

Yes. All sports bets must come from and be received in Colorado. Because sports betting is legalized state by state, bettors from neighboring states can’t be allowed to bet from their states. They can drive to Colorado to place a bet, but can’t bet from across state lines.

All online sportsbooks have geolocation technology that determines where bettors are placing bets from. That same technology also blocks bets from unverified or illegal locations.

Can Bettors Sign Up From Anywhere In The State?

Yes. They can even sign up from out of state if they want. However, bettors will only be able to wager in Colorado. The app knows where you are, and it won’t take your money if you’re in the wrong place.

Does BetMGM Offer Esports Betting Lines?

Yes. It’s not listed on BetMGM’s A to Z section, but BetMGM has offered lines on esports. If the game isn’t scheduled in the immediate future, then BetMGM won’t have moneyline or point spread odds on it. So, don’t be surprised if esports doesn’t pop right up on your screen when you go looking for Counter-Strike lines. They’ll come as the next tournament nears.

Is Internet Gambling Legal In Colorado?

No. Online sports betting is legal because of Prop DD’s passage at the end of 2019. Once the state legalized sports betting, online sportsbooks were fair game. However, online casinos are still illegal in Colorado. Online sports betting is just the favorite child that gets to be the exception.

Does this work as a BetMGM Indiana bonus code?

Yes, you can our code: SHARP as a BetMGM bonus code in Indiana to get the top sign-up bonus in the state with a risk-free bet of up to $500 dollars. It also works in Colorado and New Jersey.

Does BetMGM Have Live In-Game Betting?

Yes. It has its own tab on the app and website.

How Do Bettors Get Paid If They Win At BetMGM’s Sportsbook?

They go the cashier tab under their account icon and select ‘withdraw.’ Settled bets are also under their own ‘settled’ tab in the bet slip menu. BetMGM makes it easy to withdraw earnings, which is great. What’s the fun in a sportsbook that won’t pay out?

About the Author

Christopher Gerlacher

Christopher Gerlacher is a freelance writer tucked into the foothills in Colorado Springs. He works as a content writer, a professional resume writer, and authors search engine optimized professional articles in multiple industries.