BetMGM is a nationwide casino and betting network placed mainly in MGM Resort venues. But it is also presented online and offers a wide range of services for those who love gambling and sports stakes. One of the cool features of the company is that it offers access to a whole range of gambling services under one brand and offers high-quality and fair gaming.
BetMGM offers betting, but there are also some other related brands that offer poker and online casino all over the US wherever it’s legal. Today, we’ll tell you what means the BetMGM restricted bonus. Many players want to know about it once they get this mysterious bonus they can’t withdraw. It appears that the rules for the bonus are pretty complicated.
Here’s what we are going to discuss today:
- What are restricted bonus funds in BetMGM?
- What are the rules for wagering bonuses at BetMGM?
- Why do casinos and betting websites give restricted bonuses?
- Can you build a strategy for wagering the restricted bonus?
- Will a restricted bonus be paid at BetMGM?
Let’s get started!
What does it mean when you get restricted bonus funds?
Many casinos and betting companies do that. As far as we know, all online casinos practice restricted bonuses. This means that when you get your bonus money, you are limited in terms of the ways you can use this money. In some cases, you can’t withdraw the money immediately, in other casinos, you can’t use the money for stakes or gambling.
Either way, you get a limited bonus that has some rules for play. Most of the time, casinos will want you to deposit some more money and use it for wagering the bonus. And this is what it takes. But, of course, you need to learn more about the rules in your case.
Here are the average facts about BetMGM restricted bonus funds:
- there are several restricted bonuses that you can take at BetMGM and they are all money bonuses;
- in most cases, your bonus is not available for withdrawal right away, you will need to complete some play rules before;
- but you can usually use the bonus to play in a certain section or to make some bets at BetMGM without restrictions;
- bonuses are not usually available for any other games and betting types, just the one you got your bonus for;
- there are also some restricted bonus types that aren’t available for play and withdrawal, those are blocked till they are wagered;
- these bonuses may be seen on your main account or in the bonus account depending on their type;
- all bonuses can still be converted to real money – you just need to complete the play rules BetMGM requires;
- almost all bonuses at BetMGM are restricted, so you should learn the rules of the bonus system before you get this money.
Understanding the bonus policy of BetMGM is important. The first thing you want to do when you get a certain money bonus is to withdraw it and spend on some cool things you can’t afford in everyday life. But this is only possible after you wager this bonus. Wagering rules are complicated and sometimes you won’t understand them even after reading the rules.
Casinos and betting companies like BetMGM often make it easier for their clients to get unlimited access to bonus money. But some smaller casinos that don’t have so huge turnovers need to restrict their bonuses even more.
Please keep in mind that if you don’t complete the wagering rules for the bonus you got, this bonus will be claimed back. It means that you should immediately start wagering it when you get the money. Otherwise, BetMGM will take the bonus back.
How can you get full control of your bonus at BetMGM?
If you want to get all the money you got as a bonus, you should learn more about play rules for the type of bonus you got. But in most cases, you will have to use the deposited money and play games or bet a certain amount of funds. The wager rate may be 10, 20, or even 30 meaning that you need to use 10, 20, or 30 times more money for betting and gambling than you got as a bonus.
Here is a simple example. You got $200 as a bonus for taking part in a certain competition. Also, you read in the rules that this type of bonus needs a 10x wager. It means that you will have to use $2,000 for stakes in order to get your bonus and withdraw it or use it as your own money at BetMGM without any restrictions.
This may sound too hard – spend $2K to just get $200. But you aren’t just spending this money. You can even win more. It’s not about how much you lose, it’s all about your turnover on the website. Of course, you should also remember that this is gambling and you can lose your money when wagering the bonus. But isn’t this what you are there for? The gambling emotions and the risks make your blood run faster through your veins.
Why do casinos and betting platforms love restricted bonuses?
These bonuses are one of the ways to make people spend more money on bets and stakes. Human beings are pretty willing to get money for nothing and when they get a solid bonus of several hundred dollars, they are ready for a lot of steps to get this money into their pockets. This is where casinos start their business.
They say: hey, man, you have $200 here, just need to play a little and this money is yours. We understand that the deal is perfect. We anyway play at this casino or use this betting platform, so nothing bad happens if we use it a little more in the next few days. But as a reward, we get $200!
And we should say it really works for a lot of players. They just get bonuses going their own way – exactly the same way they would go without any bonuses. But most players don’t play that much and they will deposit more money and make more bets or stakes when they see the reward.
You may know that each casino and gambling platform has a certain return rate – RTP. It’s claimed to be about 95%, on average. But in reality, it’s about 80% of the real return. So, 20% of all the money that is deposited by players is left as revenue for the casino and its partners. Is that a lot? Well, casinos can make it even more just by providing you with bonuses.
When casinos and betting platforms give a lot of bonuses, they get much more deposits, and eventually much more money is left there as their revenue. Also, big bonuses make any player loyal, so it also works in the long run.
What are the good strategies to play for the restricted bonus at BetMGM?
There are no good or bad strategies but you can make your gambling more efficient when you need to play for the restricted bonus. For this, the first thing you need to do is to read the rules. Each bonus type at BetMGM has its own rules and wagers. You should know everything in order to build your gambling routine in such a way to quickly wager the bonus.
Learn about the wager rate, then calculate the turnover you need. After that, choose the quickest events that you can bet for. You need quick turnover, so it’s most likely you will use low-risk bets that are going to give you quick results. After that, you will obviously want to find more quick events with low risk.
If you gamble like that in your everyday life, it can be pretty boring. But to wager the bonus, you will need a lot of quick events. You play $10 in one event and then in 5 minutes you win $11 and play this money in another event. Just in a couple of hours, your turnover may go up to several thousand dollars. Yes, you may lose because you will not be familiar with some of the events. But low-risk events will still give you some wins. And in the end, you will get your bonus unlocked.
Does BetMGM really allow you to withdraw the bonus?
BetMGM is a very trusted platform and yes, it pays out all the legal withdrawals with no problems or delays. The platform is fair and is never reported by players for problems with payments.
So, once you wager your bonus, the casino will obviously pay it out if you wish. If not, you can use the bonus money for new bets and stakes and win even more. Remember though that gambling never guarantees you any wins. You can lose money and you are always at risk of loss. What’s more, in the long run, you will always lose about 20% of your money.