BetMGM backs your first bet up to $1,500 in bonus bets if it loses. Caesars takes a different angle: bet $1 and collect 100% Profit Boosts on each of your next 20 bets. Same "welcome bonus" label, completely different mechanics — so the right pick depends entirely on how you plan to bet.
What Does Each Offer Actually Pay Out?
With BetMGM's $1,500 first-bet offer, you place one qualifying wager. If it wins, you keep the cash. If it loses, BetMGM returns the stake as bonus bets up to $1,500. Regulated US sportsbook first-bet refunds generally carry no wagering requirements on the returned bonus bets — meaning you wager them once and any winnings come back as real cash. Promo codes COVERS and CBSSPORTS have been referenced for this offer; verify the active code before you register.
Caesars runs on a totally different model. Bet $1, and you get 100% Profit Boosts loaded onto your next 20 bets. A Profit Boost doubles your net winnings on a selected wager — so a $50 bet at -110 that would normally net you ~$45.45 instead nets ~$90.91. Spread those 20 boosts across bigger wagers and the upside climbs fast. The catch: Caesars puts a 14-day expiration on the boosts, so you have two weeks to deploy all 20.
| Feature | BetMGM | Caesars |
|---|---|---|
| Offer type | First-bet safety net | Bet $1, get 20 × 100% Profit Boosts |
| Maximum value | Up to $1,500 in bonus bets | 20 boosts (value scales with bet size) |
| Wagering requirement on bonus | None on returned bonus bets | Boosts applied to individual wagers |
| Expiry window | Verify in current T&C | 14 days after receipt |
| Promo code | COVERS or CBSSPORTS | Check current offer page |
Which Bonus Fits Your Betting Style?
BetMGM suits the bettor who wants one big swing with a safety net. You can drop $1,000 on a game, and if you lose you're not out the full amount — it comes back as bonus bets. The face value is hard to beat. See the full terms breakdown at the Caesars Sportsbook first-bet bonus review and the BetMGM review before deciding.
Caesars rewards volume. If you're the type who fires five to ten bets a week, 20 Profit Boosts spread over a fortnight can generate serious extra cash — especially on midsize wagers where a 100% multiplier makes a real dollar difference. The $1 qualifying bet is about as low a barrier as you'll find anywhere.
One thing both offers share: bonus bets are non-withdrawable. Only the winnings produced by a bonus bet land in your real-money balance — the stake itself is gone. Keep that in mind when you calculate the true value of either deal, and check the sportsbook bonus FAQ on wagering requirements and expiry if the fine print trips you up.
State Availability
Both operators are licensed across most legal US sports betting markets. Online sports betting is live in over 30 states as of 2025, including New York, New Jersey, Pennsylvania, Michigan, and Ohio. Geographic restrictions apply — promos are void in states where the operator isn't licensed. If you're uncertain what's available where you live, the state-by-state sportsbook bonus guide breaks it down.
The Bottom Line on BetMGM vs Caesars Bonuses
Big first bet, potential big refund: go BetMGM. Regular bettor who wants a two-week edge on every wager: Caesars Profit Boosts are hard to ignore. Either way, stack these against the rest of the market at best sportsbook welcome bonuses ranked for new US bettors before you lock anything in. There's also a useful overview of how both bonus types compare to the broader field on Bet On It's sportsbook bonus explainer.
Must be 21+ (18+ in some states). Both offers valid only in licensed states. Gambling problem? Call 1-800-GAMBLER.