BetMGM Colorado Bonus Code

BetMGM was one of four sportsbooks to launch in Colorado with the state’s legal sports betting market on May 1. But now that other sportsbooks have launched in the state, it’s worth seeing how BetMGM compares to its new competitors. As it turns out, BetMGM will be facing some stiff competition.

What Kind Of Sports Bettor Should Try BetMGM?

BetMGM is one of two sportsbooks so far that’s tied to a casino. However, while BetMonarch offers loyalty points for its sportsbook patrons, BetMGM doesn’t. That means using BetMGM during quarantine won’t get MGM loyalty members any closer to a free room. BetMGM is only good for casual players holding out hope that BetMGM will have the best odds on certain betting lines.

BetMGM also has an online casino that Coloradans won’t be able to use. Casino internet gambling is still illegal in Colorado.

BetMGM Colorado Promo Codes For May 2020

BetMGM is short on promotions right now. It’s likely because of the coronavirus wiping out most of the good betting lines. However, here’s what they’ve got so far:

Bonus Type

Bonus Details

BetMGM Colorado Promo Code100% match of up to $1,000 for first deposit.
Risk-Free BetUp to $500. Requires a minimum $10 deposit.
BetMGM Sportsbook States in Operation Colorado, Indiana, New Jersey, West Virginia
Multi-Sport Parlay BoostsUp to 40% on 4-7 leg parlay bets.

Both promotions are set to run through the end of 2020, unless BetMGM decides to pull either one before the year ends. A welcome bonus and a parlay boost isn’t much for bettors to choose from, but now bettors know what they’re getting.

BetMGM: Bonus And Promotional Grade (3.5/5)

Bettors have now seen all two BetMGM promotions at the time of this writing. One of them is the one-time welcome bonus that new bettors can enjoy. It’s not a great welcome bonus, though. Here are the welcome bonuses the six legal sportsbooks offer so far:

  • 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 with its welcome code, 250MATCH
  • BetMonarch has no welcome bonus (as of this writing)

BetMGM’s welcome bonus is a meager offering compared to the deposit bonuses that DraftKings and Fox Bet bettors can take advantage of. 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 when sports return. Their current selection won’t cut it for bettors who regularly take advantage of promotions.

BetMGM: Odds Vs. The Competition Grade (4/5)

There’s no single trend that pops from BetMGM’s betting lines. Its odds vary from incredible odds, to terrible odds, to okay odds. Here are two sets of lines, one from the German Bundesliga and one from an upcoming UFC match:

Breman/Freiburg Odds

 

Eintracht Frankfurt

Bayern Munchen

Draw

BetMGM

+1450-625+700

BetMonarch

+1400-650+720

DraftKings

+1400-650+700

FanDuel

+1400-715+750

BetRivers

+1400-715+700

FoxBet

+1500-650+650

Ciers/Dern Odds

 

Hannah Cifers

Mackenzie Dern

BetMGM

+310-400

BetMonarch

+290-400

DraftKings

+295-400

FanDuel

+310-390

BetRivers

+295-400

FoxBet

+220-333

The favorite and moderate odds on the underdog and draw. However, the UFC lines tell a different story. In those lines, BetMGM’s odds are among the worst on the favorite and among the best on the underdog.

Astute bettors know I could’ve plucked two lines from any sportsbook and found this same 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 consistently if they shop around for odds.

BetMGM: Market Depth And Variety Grade (4/5)

After the pandemic took out popular sportsbook lines, sportsbooks across the country adapted and popularized international games in the United States. (How many South Korean Baseball games were on ESPN before the pandemic?) However, even though all six sportsbooks have a South Korean Baseball section, one sportsbook is noticeably short on betting lines.

BetMGM stood alone among the sportsbooks by not offering betting lines on the South Korean Baseball season. It offered them mere days before the next round of SKB games. However, the other five sportsbooks had moneyline and point spread bets available sooner than BetMGM. BetMGM didn’t have lines on the Hanwha Eagles or Samsung Lions until a day or two before games started.

It’s possible that BetMGM will only offer lines on international games close to when the games occur. The five moneyline bets on South Korean Baseball matches were on games occurring the same day this section of the article was written. Similarly, both Chinese Professional Baseball League moneyline bets on BetMGM were on games occurring the day after the SKB games.

If this is a consistent pattern, then BetMGM bettors will see betting lines available later than they would at other sportsbooks. If this is a coronavirus fluke, then BetMGM is the least agile sportsbook in Colorado. Either way, it’s not a great look for BetMGM.

BetMGM: Deposit And Cashout Grade (5/5)

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. 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. All 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.

BetMGM: Mobile App Grade (4.5/5)

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. So, 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. (Why bettors would be in a rush is unclear.) But overall, BetMGM has a good app.

Is BetMGM A Real Business?

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 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 Waffle House 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 them. 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. He was sentenced 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. Lucky, 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 has only 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
Colorado legal sports betting launch dateMay 1, 2020

BetMGM Colorado FAQ

If bettors are still confused about Colorado sportsbook quirks, they’re in good company. The new launch can make certain things confusing. Here are a few questions that may be lingering after the last 2,200 words.

Is Internet Gambling Legal In Colorado?

No. Online sports betting is legal because of Prop DD’s passage at the end of 2019. Once sports betting was legalized–and taxable–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 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 soon, 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 with the next tournament.

Do Bettors Have To Be In Colorado To Bet?

Yes. All sports bets must come from and be received in Colorado. Since sports betting must be legalized state by state, bettors from neighboring states can’t be allowed to bet from their states. 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 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 Have Live In-Game Betting?

Yes. It’s 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?

BetMGM Overall (4.2)

BetMGM has a poor selection of bonuses and promotions, and its odds can be the best or worst on any given line. Bettors can’t accumulate loyalty points, either, which is particularly offensive from a casino-run sportsbook. (Bettors who want to work their way toward post-pandemic luxury rewards can bet at BetMonarch instead.)

However, 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.

About the Author

Christopher Gerlacher

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