The NBA Eastern Conference Finals kick off tonight with Game 1 between the Indiana Pacers and New York Knicks, and BetMGM Sportsbook has a great welcome offer to help you get in on the action. When you sign up with BetMGM bonus code ALCOM1500, you can either get a $150 bonus after winning a $10 bet, or get up to $1,500 back as bonus bets if you lose your first bet.

The offer to win a $10 bet and get $150 in bonus bets is only available in Colorado, Michigan, New Jersey, Pennsylvania, and West Virginia. New users in other states can claim the $1,500 first-bet offer.

BetMGM bonus code ALCOM1500 at a glance

BetMGM bonus code ALCOM1500: How to claim the offer

It takes only a few minutes to sign up for BetMGM Sportsbook and claim this welcome offer. Just follow these simple steps to unlock your bonus bets:

1. Click any link for BetMGM bonus code ALCOM1500 or the “Get Bonus” button in the banners on this page.
2. Create a new account by providing your full name, mailing address, contact information, date of birth, and the last four digits of your Social Security number. Confirm that BetMGM bonus code ALCOM1500 is pre-populated in the bonus code field.
3. Deposit at least $10 using your preferred payment method.
4. Bet $10 on tonight’s Pacers vs. Knicks game, or any other betting market. If you are claiming the $1,500 first-bet insurance offer, make sure your bet has odds of -10,000 or longer.
5. $150 bonus offer: If you win your qualifying wager, collect your winnings plus three $50 bonus bets; no bonus bets are awarded if you lose.
6. $1,500 first-bet offer: If you lose your qualifying wager, collect the value of your wager in bonus bets, up to $1,500; if you win your qualifying wager, collect your winnings but no bonus bets.
7. Use your bonus bets within seven days (168 hours) so they don’t expire.

If you are in a state with the $1,500 first-bet insurance offer, it’s especially important to keep in mind that you will only get paid the winnings if you win your bonus bet(s), but not the original stake. This means if you use your bonus bet(s) on a market with negative odds, you will not get back the full amount you lost, even if you win.

For example, say you lose a $125 bet and get five $25 bonus bets. You use all of those bonus bets on wagers with -125 odds, and you win all five bets (nice job!). A $25 bet at -125 odds wins $20, so you would receive a total of $100 in withdrawable cash as your bonus bet winnings. You would still be down $25 after your original bet.

For comparison, if you had placed the same five bets using cash, your total payout would be $225, because it would include the original $125 you wagered across five bets. That is the difference between bonus bets and regular cash wagers.

BetMGM existing user promos

After you claim the BetMGM welcome offer available in your state, you should get in the habit of checking the promos tab for other promos available for existing users. These promos offer additional ways to earn bonus bets along with other perks like odds boosts.

Here are a few current examples of BetMGM’s existing user promos:

• Odds boosts for NBA and NHL playoffs: Use an Odds Boost Token on bets on the NBA and NHL playoffs to increase your potential payout if you win.
• MLB No Sweat Home Run bet: Use a No Sweat Bet token on a bet on any MLB player to hit a home run. If your bet loses, get your stake back as a bonus bet.
• EPL 2 Up Early Payout: If you bet on a team to win an EPL match during regular time and they take a 2-goal lead at any point during regulation, BetMGM will pay out your bet as a winner before the match is even over. If the other team comes back to draw or win the match, you still win your bet.

How to use BetMGM bonus code ALCOM1500 for Pacers vs. Knicks Game 1

If you are claiming the $150 bonus offer, the most important thing to remember is that you only get the bonus bets if you win your qualifying wager. Since there are no minimum odds, you can give yourself the best chance of winning by picking a bet with very short odds that is very likely to win.

For example, in the Pacers vs. Knicks game tonight, you could bet on the Knicks’ OG Anunoby to grab at least three rebounds at -2000 odds, which implies more than a 95% probability. While you will only win $0.50 on a $10 bet, you will get your $150 in bonus bets, which is the main goal.

Your strategy should be a bit different if you are claiming the $1,500 first-bet insurance offer. The main benefit of this offer is the ability to place a big first bet with some peace of mind knowing you have a chance to win back at least some of your losses if you don’t win. Just remember that it will be difficult to win back everything using bonus bets, so do not wager anything you cannot afford to lose.

A good bet to place that would return a nice payout is Jalen Brunson to score 35+ points at +275 odds. Brunson already has three games with 35+ in this year’s playoffs (out of 12 total), and he scored 40+ in two games of the Knicks’ seven-game series with the Pacers last season.

If you want to be a bit more conservative, you can still get +100 odds for Brunson to score 30+, which he has done in half of the Knicks’ playoff games this season.