BetMGM is doing another one of their crazy offers for New Jersey sports bettors. Known for their somewhat insane 1000-to-1 odds boost for new players, BetMGM this weekend is offering new players 100-1 odds on the 49ers to beat the Redskins.
There’s a maximum $1 bet, which will pay out $100 in site credit if the 49ers, who are heavy favorites, win in Washington.
How It Works
The offer is available only to new players who sign up using this link . Once you deposit and place a $1 bet on the 49ers to win outright versus the Redskins, you will be credited $100, if they in fact win.
To give you some perspective on their chances, the moneyline for this game on a 49ers bet is -455, which means typically you would have to wager $455 to win a 100. In this case, you have to wager $1 to win 100.
Now, I’m no mathematician and don’t know exactly how to deduce positive EV, but I’m pretty sure this is it, chief.
How is your chance? -445 odds implies an 82% chance win probability, so this is sort of a no-brainer. It’s only $1, so even if they lose, it’s not exactly going to break the bank account.
Why does BetMGM do this? The New Jersey betting market is very crowded, right now dominated by FanDuel Sportsbook and DraftKings Sportsbook, and with increasing competition from the likes of FOX Bet and PointsBet.
Thus far in the regulated betting industry typical casino brands have struggled against the sports-focused online brands, such as DraftKings and FanDuel.
BetMGM recently updated their platform to modernize their app and playing experience. We actually like the improvements a lot, but they need to be aggressive with their marketing to bring in new players. So, while you shouldn’t expect to receive 100 to 1 odds boost too often, giving new players essentially a free $100 on a popular bet is a way to get some attention and get people playing the app.
We absolutely recommend you check out BetMGM’s offer here and put $1 on the 49ers. And while you’re at it, play around with their app. We really like their updated user experience, and I think you’ll find that they are the best of the traditional casino brands when it comes to online sportsbooks in New Jersey. And this gives you some extra value mid-season.