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Are you a sports fan looking for a sportsbook or online casino that has a wide range of deposit options and a low minimum deposit? If so, then the BetMGM sportsbook and BetMGM Casino are a great way to start your sports and casino betting journey.
Not only do they have the same low BetMGM minimum deposit threshold, but new and experienced bettors can take advantage of their $1,000 welcome bonus bet promotion.
The bonus bet promotion allows you to deposit, make your first bet, and if that first bet is a loser, you’ll receive bonus bet credits to the same amount as your losing bet, up to a maximum of $1,000. This is a little like a first-bet insurance policy.
But before you sign up for a BetMGM account, we’ll explain all of the BetMGM minimum deposit and withdrawal options you have available, so you can decide on the best one for you.
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- Super fast payouts
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All sportsbooks and online casinos have a minimum deposit limit. When registering for an account at a betting app like BetMGM, the first question that usually pops to mind relates to the minimum deposit.
Continue reading for the full scoop on the BetMGM minimum deposit, what is the lowest amount you can deposit, and how they stack up against other sportsbooks.
BetMGM Payments Overview
In the two tables below we have covered all the details relating to deposits and withdrawals on the BetMGM Sportsbook.
In each table, you’ll see the main deposit/withdrawal methods available to you, details about the BetMGM minimum deposit, any fees payable, plus processing times for each type of transaction.
| 💳Deposit Method | 💵Minimum Deposit | 💰Maximum Deposit | ⏱️Processing Time | 💲Fees |
|---|---|---|---|---|
| Credit/debit card | $10 | $10,000 | Immediate | None |
| Online banking (PayWithMyBank) | $10 | $5000 | Immediate | None (your financial institution may charge fees) |
| Instant bank transfer (VIP Preferred e-check) | $10 | $3,000 | Immediate | None |
| Wire transfer | $1000 | No limit | 24-72 hours | None |
| PayPal | $10 | $50,000 | Immediate | None |
| Play+ | $10 | $10,000 | Immediate | None |
| PayNearMe | $10 | No maximum | Immediate | None |
| Apple Pay | $10 | No maximum | Immediate | None |
| MGM Rewards Card | $10 | No maximum | Immediate | Check the summary of credit terms |
BetMGM Cash Outs Overview*
| 💳Withdrawal Method | 💵Minimum Withdrawal | 💰Maximum Withdrawal | ⏱️Processing Time | 💲Fees |
|---|---|---|---|---|
| Credit/debit card | $10 | $50,000 | Visa - within 24 hours Mastercard - 1-3 business days | None |
| Online banking (PayWithMyBank) | $10 | $5,000 | 2-4 business days | None (your financial institution may charge fees) |
| Instant bank transfer (VIP Preferred e-check) | $10 | $100,000 | 2-4 business days | None |
| Wire transfer | $10,000 | No limit | None | |
| PayPal | $10 | $25,000 | Within 24 hours | None |
| Play+ | $10 | $10,000 | Within 24 hours | None |
*NB – Please note that BetMGM has an internal withdrawal review process on all methods which can be as long as five days before funds are released.
What is the Lowest Minimum Deposit at BetMGM
The minimum deposit threshold on the BetMGM sportsbook is ten dollars, but other betting sites may set minimum deposit limits of $20, and $30 with some up to $100. This is what makes BetMGM one of the better options for players and sports handicappers, as well as the competitive odds offered on many sports.
The $10 BetMGM minimum deposit is the same right across the board for all payment methods bar bank wire transfer, which has a minimum deposit of $1,000.
If you need more info then click here and you’ll be taken to the page below.
The following list shows the various minimum BetMGM deposit methods.
| 💳Deposit Method | 💵Minimum Deposit |
|---|---|
| Credit/debit card | $10 |
| Online banking (PayWithMyBank) | $10 |
| Instant bank transfer (VIP Preferred e-check) | $10 |
| Wire transfer | $1000 |
| PayPal | $10 |
| Play+ | $10 |
| PayNearMe | $10 |
| Apple Pay | $10 |
| MGM Rewards Card | $10 |
What does minimum deposit mean?
When a sportsbook has a minimum deposit, it means that this is the lowest amount you can deposit.
Many major sportsbooks including BetMGM have a $10 minimum deposit which makes it within reach for a large portion of sports bettors. You’ll find some sportsbooks offer a $5 minimum, but check that these are not offshore sportsbooks, which are not legal in the USA.
Is the BetMGM minimum deposit limit low?
We wanted to cover BetMGM in this review for that exact reason. BetMGM offers a $10 minimum deposit amount so you can start to place bets on all of the sports action on their site.
They offer one of the most attractive minimum deposit options of all of the major gambling sites.
This is the same for online casino gaming where they have a wide selection of slot games and casino games at BetMGM online casinos.
Why are minimum deposit limits important for betting?
Online sportsbooks that offer low minimum deposits are great for the players and the book.
For those who are betting on sports for the first time, having this low minimum deposit option limits your risk. You can set up your account and deposit your first ten bucks and get involved in the action.
BetMGM wants to attract new players, so for them, having a low barrier of entry is good from their perspective, and this can be done on the main BetMGM website, or your mobile device by downloading the BetMGM mobile app.
A lot of sportsbooks have implemented responsible gambling guidelines as set out by state licensing authorities.
Setting this low minimum of $10 allows players like you to set their deposit limits at a manageable level, which is part of the wider initiative for major sportsbooks to promote safe and responsible gambling for players who want to bet online.
Best Low Deposit Banking Methods at BetMGM
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- Promo Code: GAMBLEUSA
- Super fast payouts
- Live streaming
Of the nine payment methods that BetMGM offers, our three favorite deposit methods are credit cards and debit cards, PayPal and Online Banking.
These are just our favorites because they offer the ability to deposit to and withdraw from your BetMGM account with $10 minimums.
Pros and Cons of Using the BetMGM Deposit Minimum
Even before looking at the pros and cons, it is important to point out that BetMGM is one of the most reputable online betting sites in the US, licensed in 25 states.
It doesn’t matter which sportsbook you use. Make sure they offer legal online sports betting in the state you are betting in.
Let’s look at a few key points.
Pros
- You can use $10 as a deposit on every payment method listed on the BetMGM website and app.
- There are zero fees when you deposit to your BetMGM online sportsbook account.
- You’ll only need to add a maximum $10 deposit to take advantage of the BetMGM bet credits bonus offer.
- Signing up for sports betting or an online casino account and making your initial cash deposit on BetMGM requires a very simple registration process that takes a couple of minutes.
- You can find a BetMGM retail sportsbook at various locations including in Arizona at Gila River properties, The MGM National Harbor in Maryland, the MGM Springfield in Springfield, MA as well as in Michigan, Mississippi, Nevada, New Jersey, Ohio, Oregon, South Dakota, Washington, and Washington DC.
Cons
- The BetMGM sportsbook has a five day review window for any withdrawal requests.
- It can take up to 48 hours to have your BetMGM sportsbook account setup after registration.
FAQ’s
What is the BetMGM Sportsbook minimum deposit limit?
The BetMGM sportsbook minimum deposit limit with any payment method is $10. All payment options have a maximum deposit amount, so check this for your desired deposit option. Don't get confused with a minimum bet, which is lower.
What is BetMGM Casino minimum deposit limit?
The BetMGM Casino minimum account deposit is $10. You can play casino games and slot games online or on the BetMGM app.
Can I get BetMGM bonuses with the lowest minimum deposit?
Yes, a welcome bonus bet is available up to $1,000 if your first bet is a loser at BetMGM. Once you have registered and deposited at least $10, you are also able to take advantage of all of the special ongoing promotions, BetMGM bonus offers, and BetMGM free bet promos.
How long does BetMGM take to deposit?
BetMGM has a great range of deposit options, with nine to choose from. All deposit methods are “Instant” apart from bank wire transfer which takes between 48-72 hours before your funds are available in your cashier and ready to place bets.
Does BetMGM payout?
The answer to the question is YES! Being part of the larger MGM Hotels group, they have a brand image to protect and without question, you can expect BetMGM to pay out. They are one of the well-respected legal online sportsbooks in the betting industry. You are 100% safe when placing wagers with the BetMGM online sportsbook, and the BetMGM odds offer is one of the best in the business.
Which are the BetMGM withdrawal methods?
There are not as many withdrawal methods at BetMGM as there are deposit options, but any of the methods below can be used to withdraw your winnings.
- Debit Cards/Credit Cards
- Online Bank Transfer (PayWithMyBank)
- Instant bank transfer (VIP Preferred e-check)
- Wire transfer
- PayPal
- Play+
The above methods are available in every state. It is important to note that BetMGM offers Venmo (WY, OH, & MD), Cage (NJ, MI, MD, MS & OH), and check by snail mail (NJ).
Can I deposit and withdraw at BetMGM with PayPal?
Yes, of course. PayPal sportsbook minimum deposits and withdrawals are available on your BetMGM online sportsbook account or by using the BetMGM app. The minimum withdrawal amount when using PayPal is $10, while the maximum withdrawal with this amount is $25,000.
What is the BetMGM withdrawal limit?
The maximum payout depends on the payment method you are using to withdraw funds with. From the list above, all BetMGM banking options have a minimum withdrawal of $10 apart from wire transfer, which has a minimum withdrawal of $10,000.
The maximum withdrawal limits for each payment method are listed below.
- Credit/debit card - $50,000
- Online banking (PayWithMyBank) - $5,000
- Instant bank transfer (VIP Preferred e-check) - $100,000
- Wire transfer - No limit
- PayPal - $25,000
- Play+ - $10,000
Which payment methods are supported at BetMGM?
BetMGM offers nine deposit payment methods and six withdrawal payment methods across all states. These are:
- Credit/debit card (Deposit & Withdrawal
- Online banking - PayWithMyBank (Deposit & Withdrawal)
- Instant bank transfer - VIP Preferred e-check (Deposit & Withdrawal
- Wire transfer (Deposit & Withdrawal)
- PayPal (Deposit & Withdrawal)
- Play+ (Deposit & Withdrawal)
- PayNearMe (Deposit Only)
- Apple Pay (Deposit Only)
- MGM Rewards Card (Deposit Only)