BetMGM Sportsbook Colorado Bonus Code for $1,050

BetMGM sportsbook
Sign-up BonusSign-up BonusUp to $1,050Up to $1,050
Bonus Code PLAYBONUS50

BETMGM March Matchups Promo - Bet $10 on the March Tournament and Get $200 in Bonus Bets Instantly! (Not Available in DC, NY, MS or NV. Please note the $1,000 Bonus Bet offer mentioned elsewhere in this review cannot be combined with this offer) - To claim Click This Link and use Bonus Code PLAYBONUSSB

BetMGM offers one of the best all-around sports betting experiences in Colorado and if you’re a new BetMGM user you can take advantage of a great welcome bonus. Just sign up with BetMGM Colorado and enter the BetMGM bonus code PLAYBONUS50 and you’ll get a welcome bonus of up to $1,050 in bonus bets. BetMGM Colorado will pay you back in bonus bets if your first bet loses up to $1,000 AND you’ll get a bonus $50 bonus bet whether your first bet wins or loses.

You can make that bet on the BetMGM website or on either the iOS or Android mobile betting apps. Whichever one you choose, BetMGM makes it easy to find the bet you’re looking for and placing the wager is a breeze, too.

During this BetMGM Sportsbook Colorado review, we give you the inside scoop on all the promotions, features and betting opportunities on the site. We also cover the important issues like getting signed up, making deposits and withdrawals, and getting help if and when you need it.

Why choose BetMGM Sportsbook Colorado
  • Welcome Offer: Up to $1,000 paid back in bonus bets if you lose your first bet + $50 bonus bet
  • Bet with a premier name in the gaming industry
  • Mobile apps available for both Android and iOS devices
  • Wide selection of bets and sports to wager on
BetMGM Online Sportsbook Rating
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BetMGM Colorado sign-up bonus – Up to $1,050

BETMGM March Matchups Promo - Bet $10 on the March Tournament and Get $200 in Bonus Bets Instantly! (Not Available in DC, NY, MS or NV. Please note the $1,000 Bonus Bet offer mentioned elsewhere in this review cannot be combined with this offer) - To claim Click This Link and use Bonus Code PLAYBONUSSB

BetMGM in Colorado welcomes new customers with an initial bonus offer of up to $1,050. And all you have to do is use the BetMGM bonus code PLAYBONUS50 to claim this offer.

If you win your first bet at BetMGM Colorado, that’s great! But if you don’t win, BetMGM will pay you back in bonus bets up to that $1,000 limit. And no matter how your first bet does, when it settles, you’ll get a $50 bonus bet.

The bonus bets will be awarded to your account within 24 hours of your first bet settling. Bets of $49 and less will receive a single bonus bet to replace the losing bet. Bets of $50 and above will receive five equal bonus bets, each worth 20% of your original bet. You have seven days to use the bonus bets.

BetMGM Sportsbook Colorado welcome bonus and bonus code in 2023

Colorado BetMGM Promo CodePLAYBONUS50
Total Welcome BonusUp to $1,050 in bonus bets
Welcome BonusBonus bets refund up to $1,000 if first bet loses
Exclusive March Bonus$50 bonus bet when first cash wager settles
Last UpdatedApril 1, 2023

BetMGM Colorado welcome bonus – the fine print!

The BetMGM $1,050 welcome bonus is one of the easier welcome offers to understand. Just remember to sign up today using the BetMGM Colorado bonus code PLAYBONUS50. Here’s a rundown of exactly how it works.

  • Start by entering the BetMGM bonus code PLAYBONUS50 into the appropriate field when registering a new BetMGM Colorado account.
  • Deposit $10 or more and place your first real-money wager. Remember, only your opening bet qualifies for the offer, so make it for as much as you are comfortable wagering.
  • If the bet wins you’ll be awarded your stated winnings and the BetMGM welcome bonus is over.
  • If the bet loses, BetMGM will refund your losses up to $1,000 in bonus bets.
  • For bets of $49 and below you’ll be given one bonus bet. For bets of $50 and above you’ll be given five bonus bets, all equal in size, totaling your initial wager. So, if you lost a $1,000 bet, you would be given five $200 bonus bets.
  • Bonus bets expire seven days after being placed in your account.
  • You only receive the winnings from wagers made with bonus bets. The value of the bonus bet does not transfer over.
  • No regardless of whether your first bet with BetMGM Colorado wins, loses, or pushes, you’ll get a $50 bonus bet.

Overall, this is a great welcome bonus. While it would be better if you were given cash back or site credit, the bonus bets are still very good. We especially like that for bets of over $50 you are given five bonus bets, as opposed to other sportsbooks where you just receive one. The multiple bonus bets make it much more likely that you’ll win part of, if not all of, your initial wager back.

Promotions at BetMGM Sportsbook in Colorado

The promotions at BetMGM Sportsbook are seasonal, with a focus on major league games. 

Here’s a look at some of the promos you can expect during the calendar year:

  • Overtime Promos: If you lose an NFL bet in overtime, you can get up to $25 in bonus bets back. 
  • Bet Basketball Live: If you place live bets on NBA and college basketball games throughout the week, you’ll receive a bonus bet. For example, betting $25 worth will win you $5, while $500 worth of bets will earn you a $50 boost.
  • Parlay Promos: If you miss one leg on a five-team parlay wager, and you can get up to $25 back in bonus bets.  
  • Power Parlay Leaderboard: A monthlong parlay competition in which you can climb the leaderboard with successful wagers. Top finishers have a shot at weekly and monthly prizes. 
  • Follow the Puck: Place a series of pregame hockey bets and win a bonus live bet of up to $100. Place $25 in wagers throughout the week and win a $5 bonus live bet, while $500 or more will earn you a $100 bonus live bet.
  • Odds Boosts: Check the homepage at BetMGM for regular odds boosts across all of your favorite sports.

Note: Not all of these promotional offers are active at this time.

Bet types available at BetMGM in Colorado

You will find all of the standard bet types at BetMGM, including innovative options like live betting.

Let’s take a look at the main types of wagers at the Colorado BetMGM Sportsbook:  

  • Straight Bets: These are the most popular sports bets, including point spreads, moneylines and totals. These are single match bets you will see for every game. 
  • Parlays: A bet with two or more wagers on a single ticket is considered a parlay. This high-risk, high-reward wager requires all your selections to win to pay out. 
  • Round Robin: If you like parlays, but want more of a chance of winning, a round robin may be the way to go. An example would be a round robin with four selections. This could see you with a four-team parlay, and four three-team parlays (each of the three-team parlays will see one selection left out).
  • Futures: These are long-play bets, such as betting on the winner of the Super Bowl before the NFL season’s start or the winner of the Masters golf tournament at the beginning of the year. 
  • Prop Bets: These are bets within a game. For example, you could place a wager on the second quarter of an NFL game to be the highest-scoring quarter, or the Denver Nuggets to be the first to score 20 points in an NBA matchup.
  • Cash Out: On some of your wagers, you can cash out. This feature allows you to accept the settlement of the bet before the event ends. The cash-out amount will depend on the current odds. For example, you might have placed a moneyline bet on an underdog in the NBA, and your selection is leading by 12 points at halftime. The odds will have moved sizably in your favor, and you’ll be able to lock in a profit. Conversely, you can cash out to cut your losses on an event.
  • Edit My Bet: This innovative option allows you to edit your wager where the cash-out option is in place. Perhaps you’ve placed a five-selection parlay, and you’ve suddenly changed your mind about the last selection. Now BetMGM provides an opportunity for you to change your mind.
  • Live Betting: Live betting is an entertaining option if you’re at the game or watching it with friends. It allows you to view the action before you decide to bet. At BetMGM, you’ll find the “Live” link at the top of the page. It delivers a selection of betting markets that correspond with the ongoing events. In live betting, the odds will fluctuate as the action happens; live feeds provide the latest odds in real-time.

Sports betting options at BetMGM in Colorado

There’s an impressive variety of sports at BetMGM. Here is a rundown of the sports that are available for wagering:

  • Football: You’ll find detailed betting coverage of the NFL and college football, with many prop bets, alternative spreads and totals available. Find more betting options as the season moves into the playoffs, especially around the Super Bowl
  • Basketball: A full range of bets are available on all NBA games. Games feature ranked college hoops teams, with additional props as the postseason hits and March Madness takes over the sporting world in the spring.
  • Baseball: Every game in the regular season is available, with run-line, moneyline, totals wagers and more. Further props come about when the playoffs and the World Series come around.
  • Hockey: BetMGM offer wagers on every single game during the NHL regular season, as well as international hockey games. The most significant betting action is on the Stanley Cup Finals.
  • Soccer: Look out for a wide range of soccer betting, encompassing MLS, the best of the big European leagues, including the English Premier LeagueLa Liga and Serie A. Major international competitions, such as the World Cup, are covered extensively.
  • Golf: BetMGM features extensive betting on the most significant golf events, including the PGA Tour and the European Tour. Futures wagers are available on all four majors.
  • Tennis: Tennis is the sport of choice for live betting for many, with events going on around the clock globally. BetMGM features all of the action from the ATP and WTA tours, as well as extended betting on the four Grand Slam events.
  • Motorsports: Bet on the best of the action in both NASCAR and Formula 1, with both race markets and futures available.
  • Boxing and MMA: You can bet on the biggest bouts around the world with a variety of prop bets on the headline contests.

Other niche offerings at BetMGM in Colorado include rugby union, rugby league, cricket and a range of international sports.

BetMGM Sportsbook design

In terms of design, BetMGM offers one of the more modern sportsbooks. 

The dark gray, bronze and white color scheme gives the site a sense of style. The rolling ads feature the best betting options and deliver a slick, professional feel.

Across the top, you’ll see a series of icons for each of the individual sports, as well as links to promotions, odds boosts and account management

The site features the conventional three-column design. There are menus in the left-hand column, the betting markets in the larger middle space and the bet slip is on the right-hand side.

Live streaming on selected events

BetMGM’s live streaming option is sure to catch your eye. 

You won’t necessarily find the major league action here, though any live-action with accompanying live betting is always welcome. 

You can also click on the “Calendar” to see what betting markets are available that day.

BetMGM offers sports betting apps for both mobile operating systems. 

Apple users must visit the Apple App Store to download the BetMGM Colorado iOS app, while Android users will have to download the BetMGM Colorado app directly from the site. The Google Play Store doesn’t allow gambling apps.

Is BetMGM legal in Colorado?

Yes, BetMGM is perfectly legal in Colorado. The Colorado Division of Gaming, which is in charge of sports betting in the state, vetted and then awarded BetMGM a sports wagering license in the state. Furthermore, BetMGM is legal in at least 13 other states and Washington, DC. So, rest assured, when you’re betting with BetMGM you’re doing so with a legit and trustworthy sportsbook.

There are a few things you should know when it comes to sports betting in the Centennial State:

  • You must be at least 21 years of age to register with an online sportsbook and place bets. When you sign up, BetMGM will use the info you submit to confirm your identity and verify your age. If you are under 21, you will not be permitted to open an account.
  • You also are required to be in Colorado when placing bets. BetMGM Sportsbook uses geolocation tracking software to monitor your whereabouts when signed into both its website and mobile apps. If you are found to be outside Colorado or are utilizing a VPN to mask your location, you will not be allowed to place any bets.
  • Lastly, betting on in-state college teams like the Colorado BuffaloesAir Force Falcons and Colorado State Rams is perfectly legal. Making prop bets on individual college players is prohibited though.

Deposit options at BetMGM in Colorado

Here are the available deposit options at BetMGM:

  • Debit or Credit Card: Make an instant deposit using your Visa or Mastercard.
  • VIP Preferred ACH (e-check): Transfer funds directly from your bank. Get verified to speed up your transfers.
  • PayPal: Deposit directly to BetMGM using PayPal or your PayPal+ account.
  • PayNearMe: You can deposit at your local 7-Eleven. This is an ideal method if you want to fund your account with cash.
  • Bank Transfer: Use online bill pay to deposit funds to your BetMGM account.
  • Play+ Card: BetMGM offers a branded prepaid card, which you can order through the cashier section of the site. You can then fund this card using a debit or credit card or bank transfer before depositing. This option allows you to keep your gambling funds separate from your bank.

Customer service options at BetMGM in Colorado

The “Help and Contact” link at the top of the page will take you to the FAQ section. 

You’ll start here by clicking on the appropriate subject area. Some examples include “Account Access,” “Sports Rules” and “Promotions and Bonuses.”

Clicking on any of these links will bring up the FAQ within that section.

If you have a question that isn’t answered in this section, you can email the site or call the dedicated toll-free number.

BetMGM and responsible gaming

The responsible gaming page at BetMGM opens with the following statement:

‘At MGM, we believe that online gaming “when done in the spirit of fun” can offer an unsurpassed level of excitement. However, when in those instances, a person exhibits problem-gambling behavior, we believe it is our responsibility to offer information and assistance.’

The operator offers this information and assistance in the following ways:

  • Lists all the warning signs that indicate gambling may not be fun.
  • Includes links to problem gambling organizations that players can contact.
  • Offers the ability to set daily, weekly or monthly limits on deposits and wagers.
  • It provides the opportunity to self-exclude from the site.

Wrapping up: How does BetMGM compare to other Colorado sportsbooks

BetMGM has a quality first bet welcome bonus worth up to $1,050. But, how does that welcome bonus and the rest of what BetMGM has to offer, stack up against some of the best online sportsbooks in Colorado? Let’s take a look. 

  • BetMGM vs. PointsBet: PointBet’s welcome bonus is only worth a maximum of $250. So, we definitely give BetMGM the advantage there. And, overall, BetMGM is just the better sportsbook, in our opinion. BetMGM offers better promotions overall and we’ve had more success with them working all the time, which has not always been the case with PointsBet. 
  • BetMGM vs. DraftKings: Here the welcome bonuses are no contest, DraftKings’ bonus is worth up to $1,200, however $1,000 of that is a 20% deposit bonus. The other $50 is a bonus bet. The deposit match also comes with a 25x play-through requirement. All things considered, BetMGM is much more rewarding for new users.
    On the other hand, the DraftKings website and apps are both easier to use than those at BetMGM.

BetMGM Sportsbook Colorado FAQ

The BetMGM bonus code is PLAYBONUS50. Use the code when registering at BetMGM Sportsbook Colorado to get an opening bet welcome bonus worth up to $1,050 in bonus bets.

See full BetMGM Sportsbook Colorado terms and conditions above.

Yes, BetMGM is licensed and regulated in the state by the Colorado Division of Gaming. BetMGM partnered with the Midnight Rose Hotel & Casino to launch its online sportsbook in Colorado in May 2020.

The minimum age to wager at BetMGM or any other sportsbook in the state is 21.

BetMGM is a licensed online sportsbook in Colorado, whereas Bovada is an offshore sportsbook. At an offshore book, you run the risk of never actually receiving your funds when you attempt a withdrawal. Always use a licensed and regulated sportsbook like BetMGM.

For deposits, all methods process almost immediately after you submit payment. However, for withdrawals, outside of visiting the partnered casino and receiving your funds from a cashier, the fastest electronic method is PayPal, which takes roughly 24 hours, but it can be even faster.

No, you do not need the BetMGM app to wager online. For a mobile device, though, it does make betting easier. However, there is a website where you can complete wagers, too.