The 2025 MLB regular season is underway, and in the biggest college basketball tournament, the participants will dwindle to four teams remaining in the quest to crown a new champion. With so much going on in the world of sports, that means fans looking to place wagers use the latest BetMGM promo code, which allows new users to get up to $1,500 in bonus bets if their first bet loses, as well as an additional $50 bonus bet with our exclusive deal.
Here, we'll dive into BetMGM's promo code, how to claim it, how it compares to other sportsbooks' promotions and take a look at this week in sports.
How to claim BetMGM promo code
It's important to note that this promotion is only available to first-time BetMGM users who are 21 years or older and reside in a state in which BetMGM legally operates. Here's how to get this promotion.
- Download the BetMGM app and click SIGN UP.
- Enter all required information such as name, date of birth and more in order to create a BetMGM Sportsbook account.
- Use the promo code CBSSPORTS50 while signing up to receive this latest new-user promotion.
- Allow BetMGM Sportsbook to use your location.
- Deposit $10 or more.
- Make your first bet at any odds on any sporting event.
With this promotion, new users receive a $50 bonus bet as well as up to $1,500 in bonus bets if their first bet loses. If your first wager placed is at $50 or lower and loses, you receive a single bonus bet equal to what your wager was. If your first wager is for over $50 and it loses, you receive five bonus bets that are each worth 20% of the initial wager. So if you placed a bet of $1,000 and it lost, you'd receive that stake back in the form of five $200 bonus bets. Bonus bets expire seven days after they are issued. If you win a bet that's placed using bonus funds, you receive only the winnings; the bonus stake isn't part of your return.
Now let's take a look at how BetMGM's promotion compares to some of the other top sportsbooks. You can also see the full terms and conditions of BetMGM's latest promotion here.
Sportsbook offers
Brand | Promo | CBS promo code |
Up to $1,500 in bonus bets if your first bet loses + $50 bonus bet | CBSSPORTS50 | |
| FanDuel | Bet $5, get $200 in bonus bets if your bet wins | None required |
Bet $30, get $300 in bonus bets (select states), Bet and get up to $1,000 in No Sweat Bets (national) | None required | |
| DraftKings | Bet $5, get $200 in bonus bets instantly | None required |
Bet $1, double your winnings your next 10 bets | CBSDYW | |
Bet $5, get $150 in bonus bets win or lose | CBSBET365 |
BetMGM and Fanatics both offer similar promotions. BetMGM offers more potential return in bonus bets at $1,500 compared to Fanatics' $1,000, but to receive the maximum amount from either sportsbook, you have to wager and lose that total in the first place. With Fanatics, its promo covers each of a new user's first bets of the day over their first 10 days with the sportsbook rather than one initial wager like with BetMGM.
That offer is Fanatics' national new-user promotion, but the sportsbook is also offering a "bet and get" promotion in four states in which it operates, where new users can get up to $300 in bonus bets in total after placing three $10 bets in each of their first three days with the sportsbook. That's similar to what FanDuel, DraftKings and bet365 all offer, though the initial wager and bonus bet values are different. FanDuel offers $200 in bonus bets after a first bet of $5, but you must win your first bet in order to receive the $200 in bonus bets. DraftKings also offers $200 in bonus bets after a $5 first bet, but you don't need to win that initial wager. That's also the case with bet365, though a $5 first wager nets new users $150 in bonus bets rather than $200 with FanDuel and DraftKings or $300 with Fanatics.
Caesars' promotion is centered around profit boosts. After a first bet of $10, you receive a 100% profit boosts for your next 10 wagers. The max wager for each rewarded profit boost is $25, and the max additional winnings for each rewarded profit boost is $2,500.
MLB Opening Day
The Los Angeles Dodgers have kicked off their World Series defense with five straight wins, including a two-game sweep of the Chicago Cubs in Japan. The Dodgers get Sunday off while the Cubs are in Arizona against Corbin Carroll's Diamondbacks, who are looking to get back in the playoffs after making the World Series in 2023 but falling short of the postseason in 2024. One other notable game on the docket includes the Atlanta Braves visiting the San Diego Padres in primetime, with the Padres looking for the four-game sweep.
College basketball tournament
We will have a new champion in college basketball as UConn lost to Florida over the weekend. Just 16 teams remain, including all four No. 1 seeds in the tournament -- Auburn, Duke, Houston and Florida. Additionally, three of the four No. 2 seeds—Tennessee, Alabama and Michigan State—are still alive, with St. John's the only one to get knocked out over the weekend. St. John's lost to Arkansas, which, as a No. 10 seed, is the lowest-remaining seed in the tournament. The lowest-ranked teams besides Arkansas are BYU and Ole Miss, both of which are No. 6 seeds that scored upset wins over Wisconsin and Iowa State, respectively, over the weekend.
Responsible Gaming
All bettors should know their limits and abide by responsible gaming. Bettors should also know what resources are available to them, and BetMGM offers resources for those who need them, such as time and loss limits.
Other additional resources are available, such as:
- The National Council on Problem Gambling
- Gamblers Anonymous
- Call or text 24/7: 1-800-GAMBLER
