BetMGM Illinois review and bonus code

With sports betting getting legalized in more states across the country, the biggest sportsbooks have offered new users lucrative promotions for wagering on virtually every sport imaginable.

BetMGM is among the biggest sportsbooks in the country -- and that includes Illinois. They have an easy-to-use app, robust incentives and a wide array of markets that have drawn tons of new users to their platform. The new-user welcome offer is among the most attractive in the country as it gives bettors some insurance in the event that their first wager is unsuccessful.

New users can get a first-bet offer of up to $1,000 when they use the BetMGM Illinois bonus code TRIBUNEMGM. We’ll provide details about how this offer works, the nature of Illinois sports betting and more below.

The Illinois Sports Wagering Act — passed on June 28, 2019 — officially brought sports betting to the Land of Lincoln, but the first sports bet wasn’t placed until March, 9, 2020. A provision in the act includes a 15 percent gross revenue tax on all licensed sports betting operators in the state.

In order to pass a legal gambling bill, Illinois had to repeal a previous classification of sports betting as illegal, which was passed in 1961, following a scourge of criminal activity around sports betting in the early 20th century.

Prior to legalization, the act was amended several times to include specific provisions around taxation.

Additionally, the act included a provision to help increase diversity by requiring licensees to work with companies that “serve Illinois residents to improve their supplier diversity” and allows for Illinois teams to have gambling sites in or around their arenas.

According to the Chicago Tribune, Illinois was able to draw $200 million from sports betting licensing fees. The Tribune also reported that in October 2020 more than $435 million in professional wagers was placed on collegiate and professional matches. In November 2022, sports bettors in Illinois wagered more than $1.03 billion, according to reports from the Illinois Gaming Board.

Currently, BetMGM’s promotion gives new users a first-bet offer of up to $1,000 if their first wager is unsuccessful when they sign up with the bonus code TRIBUNEMGM. This offer is structured like a type of bet insurance, where new bettors can get their stake returned — up to $1,000 — in bonus bets.

These bonus bets work as betting credits, allowing the new user to place additional wagers. Bonus bets are not redeemable for cash and cannot be withdrawn from a user’s account but are valid for wagering on any sport available on the BetMGM platform.

We’ll elaborate on the specifics of the promotion, and how the bonus bets function in Illinois in the paragraphs below.

Before Illinois bettors sign up with BetMGM, there are some conditions that they should review.

Critically, this offer is exclusively for new customers age 21 or over so Illinois bettors must first sign up with BetMGM using the bonus code TRIBUNEMGM.

To trigger this promotion, new bettors need to place a real-money wager of at least $10. If that first bet hits, bettors will keep their winnings. If that first bet is unsuccessful, bettors will get a chance to recoup their losses. BetMGM will return their stake — up to $1,000 — in bonus bets. As noted above, these bonus bets work as credits and cannot be withdrawn from a user’s account. Bonus bets will be deposited within 24 hours and are valid for seven days after being awarded.

Notably, bonus bets are not distributed in a 1:1 ratio. If a user places a qualifying bet of $50 or more they will get up to five bonus bets, of equivalent value. If a user places a qualifying bet of less than $50 they will get one bonus bet. For example, if a new user wagers $1,000 and loses, they will get five bonus bets — each equal to $200. If a new user wagers $49 and loses they’ll get one bonus bet equal to $49.

Whether you’re a Bulls fan or a Bears fan, the BetMGM bonus code is a great way for Illinois sports fans to bolster their bottom line.

While Illinois sports betting was officially launched in March 2020, specific restrictions and the COVID-19 pandemic left operators in a difficult position. The state included legislation that required new users to register in person. That regulation was put on hiatus during the pandemic and in March 2022, was entirely repealed, which opened up several different online sportsbooks for operation in the Land of Lincoln.

While BetMGM first applied for a sportsbook license in September 2020, the approval took more than a year. Neither BetMGM executives nor Illinois Gaming Board officials haven’t publicly indicated what caused the delay.

One potential cause for the delay could be the partnership Par-A-Dice Hotel and Casino. BetMGM’s initial application included a note about being the mobile partner for Par-A-Dice. However, Fanduel entered the Illinois mobile gaming landscape in August 2020 through a partnership with Par-A-Dice before eventually transferring its license to Fairmont Park in November of that year. Another potential cause for the delay could stem from the COVID-19 pandemic.

While BetMGM was first approved for a management service providers license in late January 2022, it didn’t launch the mobile app until March of that year when the state repealed that aforementioned registration law.

BetMGM has fared well in neighboring states, garnering 13.1 percent market share in Indiana — which has 13 mobile operators. In Michigan though, a state which also has more than 10 mobile operators, BetMGM garnered a market share of 22.7 percent for 2021.

According to recent reports from the Illinois Gaming Board (IGB), BetMGM — in partnership with Par-A-Dice — accounted for roughly 15.4 percent of all online professional sports bets from March 2022 through December of that year. Similarly, BetMGM accounted for roughly 6 percent of the cash wagered during that time.

Unlike many other states in which football is the primary sport of interest, in Illinois, basketball — specifically college basketball — draws a huge crowd of bettors as college sports drew more than $700 million in bets from March to December in 2022.

Murphy v. National Collegiate Athletic Ass’n, sports betting regulations were passed down to state regulators. As such, each state was left to determine their own rules around sports gambling.

Illinois developed its regulations in the wake of the 2019 legalization of online gambling. As of 2023, there are seven legal sportsbook in the Prairie State and 11 retail sportsbooks. All of these sportsbooks are restricted to users ages 21 and up.

BetMGM was approved for an online sports betting license in Illinois on January 27, 2022. The app was launched in March of that year.

BetMGM has become one of the most appealing sportsbooks in the country in part because of the wide variety of markets, competitive bonuses and excellent prop betting options. Illinois users can place wagers on the mobile app or on the website. Users can claim the promotion on both the mobile app and the website.

BetMGM offers Illinois bettors excellent incentives on Chicago Bulls moneyline wagers, Chicago Blackhawks spread bets and wagering on any other Illinois sports team.

The Bulls are currently 11th in the Eastern Conference standings, sitting three games back from the eighth seed. The Blackhawks are 21-34-5 this season but have gone 5-5-0 over their past 10 games.

If you’re into player props, BetMGM has you covered as you can wager on DeMar DeRozan’s total field goals on the night, Andre Drummond’s rebounds or even Zach LaVine’s 3-point makes.

Beyond just betting on the Bulls or Blackhawks, BetMGM offers Illinois bettors excellent incentives on a wide variety of sports from professional tennis to professional fighting.

While the Bulls and Blackhawks are currently in season, the Bears and Cubs are also huge draws for sports bettors during the season.

There has been a lot of speculation about what the Bears will do the first overall pick. While Justin Fields looked solid during the Bears struggles this season, Alabama’s Bryce Young looked great during the college football season and would potentially be a good fit in the Bears system.

However, multiple NFL mock drafts put Georgia’s Jalen Carter going number one to Chicago. Some analysts have also speculated that the Bears may try to trade their top pick but stay within the top five as there is no clear top player in this year’s draft.

In that same vein, BetMGM offers robust futures for the NFL and other sports that are in the offseason. Currently, BetMGM puts the Bears’ chances for winning the Super Bowl at +6600 and their chances to win the NFC at +3000. Similarly, BetMGM puts Justin Fields odds of winning the MVP at +2500.

While it’s a long shot in both cases, futures are a fun bet. If you have the capital to spare, you can place a decent wager at the start of the season, and if you’re lucky you could win big in the end of the year.

The current BetMGM promotion for Illinois is similar to the promotion across the country. BetMGM offers new users a first-bet offer of up to $1,000. Essentially, this offer functions as first bet insurance with the new user getting their stake returned — in bonus bets, up to $1,000 — in the event of an unsuccessful first wager.

If you’re naturally curious about how the BetMGM bonus code works in Illinois, don’t fret, we’ll provide a detailed list of how to deploy the BetMGM promotion in Illinois.

Critically, this promotion is limited to new users so in order to claim this offer, new Illinois users should use the bonus code TRIBUNEMGM to trigger the promotion.

From there, users need to place a $10 real-money wager. Users must use cash for this wager as credits are bonus bets will not qualify for this promotion. This promotion is limited to unsuccessful first bets and would be voided in the event of a successful first bet. The promotion would kick in only if the user’s first bet does not win.

If the Illinois user’s first bet wins, they’ll naturally keep the winnings. If the Illinois user’s first bet does not win, the user will get their stake returned — up to $1,000 — in bonus bets. These bonus bets will usually be distributed to an Illinois user’s account within 24 hours and are valid for seven days after being awarded.

Is the BetMGM bonus code still valid even if it’s not specific to Illinois?

Yes, the BetMGM bonus code listed above, TRIBUNEMGM, is valid in every legal sports betting state across the U.S.

What’s the best way to use the BetMGM bonus code?

The BetMGM bonus code allows new users to recoup their stake in the event of an unsuccessful bet, and as such gives new bettors another chance to win. That being said, even an additional chance isn’t a guarantee of a successful bet.

If you’re looking for the bet with the lowest risk and highest potential payout, place a futures wager on your favorite team or player. While the odds may not be great for your favorites, the payouts could be huge if you’re right and, if you place a modest wager you won’t break the bank.

The bets with the biggest immediate payout are parlays but these are increasingly risky as bettors are pairing multiple wagers together and if one doesn’t hit, the whole bet is unsuccessful. While parlays can be a lot of fun, they’re not recommended for novice bettors. Even with BetMGM’s bonus code offer, parlays could still end up costing the bettor their stake.

What payment methods does BetMGM accept?

BetMGM accepts most major credit or debit card companies as well as prepaid cards and e-wallet and bank transfers. For specific information about payment methods, go to the Deposit section under the Cashier tab.

What is the easiest way to verify an account?

BetMGM accepts a variety of different identity documents for account verification like a U.S. driver’s license or state ID card; a passport or passport card; a military ID or permanent U.S. resident card.

If your identity documents don’t include an address, BetMGM will need a supplementary document to verify your address. They will accept a bank or savings account statement from the last three months, a utility bill from the last three months, an IRS document from the last 12 months, a tenancy agreement from the last 12 months or a mortgage or home statement from the past 12 months.