At BetMGM Sportsbook, you can bet on the first 10 picks and more in tonight’s NBA Draft, and if you sign up with BetMGM bonus code ALCOM1500 you will get up to $1,500 back in bonus bets if you lose your first bet. Get the details below on one of the best sportsbook promos available for the NBA Draft today.

Note: If you are located in Colorado, Michigan, New Jersey, Pennsylvania, or West Virginia, your BetMGM sign-up bonus offers $150 in bonus bets if you win your first $10 bet. In all other states where BetMGM Sportsbook is available, you get the $1,5000 first-bet offer.

BetMGM bonus code ALCOM1500 at a glance

BetMGM bonus code ALCOM1500: How to claim the offer for NBA Draft

Of all the best online sportsbooks, none offers more potential bonus bets in its welcome offer than BetMGM. This sign-up bonus is a great way to take a shot on a big payout with your first bet since the bonus bets give you an opportunity to win back some of your money if you lose.

Here are the steps to follow to claim this offer, which should only take a few minutes.

1. Click any link for BetMGM bonus code ALCOM1500 or any of the “Get Bonus” buttons on this page to go to the BetMGM registration page.
2. Click “sign up” and follow the prompts to create a new account with your name, e-mail, phone number and some other basic information. Enter BetMGM bonus code ALCOM1500 in the promo code field if it’s not pre-populated.
3. Make your first deposit, keeping in mind how much you want to wager on your first bet. The minimum is $10.
4. Place your first bet between $10 and $1,500 and apply the First Bet Offer Token in your betslip. Make sure the odds are -10,000 or longer (e.g. -5000, -500, +100, etc.)
5. If you win your bet, collect your winnings but receive no bonus bets.
6. If you lose your bet, collect a bonus bet (or bets) equal to your wager, up to $1,500; you will receive one bonus bet if you wagered less than $50, or five bonus bets if you wagered $50 or more.
7. Use your bonus bets within seven days (168 hours) so they don’t expire.

While it’s nice to get back your wager amount in bonus bets if you lose, it’s important to understand that you will not necessarily win back whatever you lost even if you win your bonus bet(s). That’s because bonus bets only pay out the profits, but do not return the original stake like cash bets do.

For example, if you win a $20 bonus bet at -125 odds, your payout is your $16 profit, whereas the same bet placed with cash would pay out $36 including your original wager. If you had lost $20 on your qualifying wager, then you’d still be down $4 after winning your bonus bet, but at least that’s better than being down $20.

BetMGM existing user promos

After you have claimed the sign-up bonus, you can still take advantage of more BetMGM Sportsbook promos available to existing users. These promos may offer similar “no sweat bets” like welcome offer, or they may offer odds boosts, early payouts, and other benefits.

These promos change frequently based on what’s happening on the sports calendar, but here are some examples that are available right now:

• Parlay boost tokens: Claim a profit boost token from the promos section that you can apply to any parlay bet to get a bigger payout if you win.
• Club World Cup early payouts: If you place a straight match result bet on any game during the 2025 FIFA Club World Cup, you will win your bet if your team goes up by two goals during regular or stoppage time, even if they end up losing or drawing the match.

How to use BetMGM bonus code ALCOM1500 for the NBA Draft tonight

As explained above, while it’s nice to get back bonus bets if you lose your first bet, the best way to use this promo is to place a larger first bet and win. The appeal of this promo is that you can take a chance to win a big first bet and have a fallback option to try to recover at least some of your losses if you lose.

With that in mind, let’s discuss my favorite bet for the NBA Draft tonight: Jeremiah Fears to go 5th overall at +300 odds. BetMGM gives Fears the third-best odds to go 5th, behind Texas’ Tre Johnson (+180) and Rutgers’ Ace Bailey (+220).

The latest intel from some of the best and most reliable NBA Draft analysts is that the Utah Jazz have zeroed in on the Oklahoma guard with the 5th pick. The Jazz desperately need a floor general with some star power to lead their rebuilding efforts, and Fears fits the bill.

Of course, it’s hard to discern reality from smoke screens in the last few days before the draft. On average, Fears has been ranked outside the top six prospects by most experts, so this would be a mild surprise and is definitely a bit of a gamble.

However, given the latest reporting, it’s the perfect calculated risk to take when claiming this BetMGM bonus code.