BetMGM vs DraftKings: Sportsbook Breakdown
Sports betting is quickly growing across the United States. The top betting brands are launching in states that are legalizing sports gambling. New users are looking for the best odds as they search betting markets on the top mobile apps.
BetMGM and DraftKings Sportsbook are two of the major players in the US. The question is which sportsbook is better? Here’s a breakdown of BetMGM vs DraftKings and what you need to know about each sportsbook.
BetMGM and DraftKings Promos and Offers
BetMGM and DraftKings offer promotions to new and existing customers throughout the year. Here’s a quick breakdown of what each has to offer.
BetMGM offers a $1,000 first-bet insurance to new users signing up for the sportsbook. If your first bet loses, BetMGM covers the initial loss with bet credit up to the $1,000 maximum.
BetMGM also offers bet bonuses, daily odds boosts, and more promotions. For example, the sportsbook gave out $200 in bet bonuses for pre-registration in the state of Ohio before its launch. This is a common offer you’ll see in states waiting for the legal online sportsbook to launch.
DraftKings has a 20% deposit bonus match of up to $1,000. To capitalize on the full DraftKings Sportsbook welcome bonus you would need to deposit $5,000. Also, there is a rollover requirement meaning you must bet a certain amount before the bonus is released into your account.
Many considered this welcome bonus to be one of DraftKings’ weaknesses. The sportsbook offers other solid promotions. With that being said, the deposit bonus doesn’t compare to the first-bet insurance or other bonuses offered at sportsbooks. This might steer users away from making major deposits on signup.
DraftKings also has bet bonuses and credits. For example, for the state launch in Ohio, DraftKings gave out $200 in bet bonuses for bettors who placed at least one $5 wager. In the past, the sportsbook also has dished out $200 in bonus bets for pre-registration in states waiting to go live.
More BetMGM promotions
BetMGM has one-game parlay insurance, competitive odds boosts, and a feature that is called “Edit My Bet.” Users can add or change their bet selections after submitting. They can also increase their stake.
Ongoing promotions are running at BetMGM throughout the year. It’s extremely common to see odds boosts, bet bonuses, and more surrounding major sporting events like the Super Bowl or March Madness.
Sadly, most of BetMGM’s promotions are for new users and registrations. In recent years, the sportsbook has not provided many promotions for existing users.
More DraftKings promotions
DraftKings Sportsbook offers ongoing promotions that have included bet $1 and win $100. For example, bet $1 on your favorite NFL team. If they win, you win $100 regardless of the odds.
These types of promotions are popular and can be a good way to encourage new sports bettors to sign up. There is a low risk involved with a $1 bet and bettors can win big right away.
DraftKings also run promos around major events like the Super Bowl. You could see an odds boost that gives users the chance to win if either team scores a touchdown in the big game.
Bettor Odds: DraftKings or BetMGM
BetMGM and DraftKings both offer an extensive list of odds to choose from. Now, which sportsbook has the better odds? It’s important for users to compare competitive odds to make sure they are getting the best value when placing wagers.
Before making a bet, let’s compare DraftKings and BetMGM odds.
DraftKings would be the best place to check for NFL moneyline bets. Usually, the sportsbook has the strongest odds on NFL games. BetMGM is considered average in the industry. These odds give the edge to DraftKings for the NFL.
For example, the moneyline odds on one team might be +145 to win at most sportsbooks. DraftKings might have the odds at +150. A $100 bet wins $150 compared to $145.
BetMGM Sportsbook offers above-average odds for NBA point spread bets. For example, you might see the Celtics as a 3-point favorite at BetMGM with odds of -105 or -110. Another sportsbook might have the odds at -115. A $110 bet at odds of -110 pays $100.
BetMGM would be the best place to visit first for NBA odds as you start to compare which platform is better for your sports betting.
College Football Odds
For college football, odds and lines at either sportsbook are considered average. When compared to other books, you’ll find the odds to be similar.
Compare Odds at Multiple Sportsbooks
As a sports bettor, you should be line-shopping for the best odds on any betting platform. Download multiple sportsbooks and compare the odds on the same game. Sometimes there will be a difference in the odds or line that can give you the best value for your bet.
For example, you might check BetMGM and the 2-point favorite is the Chiefs vs the Bengals. DraftKings might have the line set at 2.5 or 1.5. This is why it’s important to check before making a decision on where to place your bet.
Live Betting and Live Streaming
DraftKings Sportsbook allows live betting to match BetMGM. Each platform has strong live odds that are quickly changing to keep up with the latest action. They cover similar sports and leagues such as the NFL, MLB, NBA, NHL, and more.
If you are looking for live streaming, choose the BetMGM Sportsbook. It has the ability to live stream sports like soccer, tennis, and more. This is a feature you will not find in the DraftKings mobile app.
Bettors are looking to get rewarded for placing bets. Both of these top sportsbooks have a rewards system in place.
BetMGM’s rewards are broken down into different tiers. The levels a bettor can reach are Sapphire, Pearl, Gold, Platinum, and Noir.
Placing bets earns reward points that can be used for bonuses, bet credits, and are even redeemable at MGM Resort properties. BetMGM is co-owned by Entain Holdings and MGM Resorts International.
Points are earned by placing straight bets or parlays. Betting $100 earns at least 20 points for a straight bet. The same wager amount for a parlay gets 50 points.
DraftKings also offers a rewards program. Its Dynasty Rewards Program dishes out coins when you place bets. The coins can be redeemed for bonus money, merchandise, experiences, and more.
At either BetMGM or DraftKings, tier credits are earned on an annual basis.
Different Sports Offered at each Sportsbook
Each sportsbook has a long list of the most popular sports and leagues from around the world. You can bet on your favorite American sports leagues such as the NFL, NBA, MLB, and more.
Now that BetMGM is legal in more states, the sportsbook has continued to up the number of sports available. DraftKings has followed suit. This is one of the reasons they continue to stay near the top of the best sportsbooks in the country.
The platforms have the top sports like football, basketball, baseball, and more. Also, they offer sports such as darts, rugby, cricket, horse racing, and water polo.
Breakdown of Bet Types
BetMGM Sportsbook and DraftKings Sportsbook have a strong number of bet types for users. You’ll find most of the bet types you are looking for with each sportsbook and there isn’t much difference between the two.
Users can enjoy traditional bets such as spreads, moneylines, and totals. The sportsbooks also offer futures, teasers, alternate lines, round robins, and more.
BetMGM vs DraftKings Banking Options
What about banking? How do the sportsbooks stack up when it comes to funding your sportsbook account or cashing out a big win?
Each sportsbook offers over 7 deposit options including PayPal, Play+, debit/credit cards, and an online bank transfer. DraftKings allows a minimum deposit of $5 while BetMGM makes users start at $10.
The deposit situations are very similar and neither book charges fees for deposits and withdrawals. Now, some banks might charge a fee on their end. Be sure to check with your bank before making a deposit if you have questions.
For withdrawals, both sportsbooks accept PayPal and bank transfers among a few others. The minimum withdrawal amount for DraftKings is as low as $1 with some methods. BetMGM has its minimum withdrawal set at $20.
It takes BetMGM 3-5 days to process a withdrawal. DraftKings states their processing time is up to 5 days but it can be much faster. So neither sportsbook has the advantage here.
BetMGM and DraftKings: Legal States
Users will be able to find the BetMGM or DraftKings Sportsbook in every legal sports betting state. DraftKings has a slight advantage in the number of states in which the sportsbook is live.
Compared to DraftKings, BetMGM is not available in Connecticut, New Hampshire, and Oregon. BetMGM is available in Washington DC while DraftKings is not.
Sportsbook Apps, Features, and Interfaces
Each sportsbook has a strong user interface. Users across the country have praised how easy the apps are to use and enjoy the designs. Let’s dive in and compare the apps.
DraftKings Sportsbook App
DraftKings has a 4.8 out of 5 stars from iOS users in the app store. The Android rating is much lower and fewer users have rated the app in the Google Play Store.
The sportsbook’s major features include the same-game parlay, bet cashout, betting pools, odds boosts, and more.
DraftKings offers daily fantasy sports contests. The sportsbook has been a major player in DFS long before its first legal online sportsbook went live in the United States. This helped it slide into being one of the well-known online sports betting brands.
BetMGM Sportsbook App
BetMGM has an average rating of 4.8 in the Apple Store as well. Similar to DraftKings, it has a lower rating in the Google Play Store and fewer users taking advantage of the app on Android.
The sportsbook has nice features such as same-game parlays, cashouts on bets, live streaming, Edit My Bet, odds boosts, and more.
If you are looking to cash out a bet while it’s still happening, each sportsbook offers this option. Users can navigate to their bet slip in either app to check if the cashout button is available.
The sportsbook offers different cashout options throughout the game or event. Cashout is not always available during games or for every event available. Check with customer support if you have any questions.
DraftKings continues to offer 24/7 customer service and so does BetMGM. Users can reach either platform by live chat and email. Each sportsbook also has an FAQ available for users looking for a quick answer to a question.
24/7 customer service is becoming more popular at sportsbooks. It helps create a better experience for users. The ability to have questions answered at any point throughout the day can ease frustrations when issues arise.
BetMGM or DraftKings: Which Should You Choose?
So which sportsbook is the better option? It’s going to come down to personal preference and betting style. Each platform has great features for sports betting and online gambling.
Take the time to do more research on each sportsbook. Download both apps or visit both websites. You can get a feel for which one you like without even placing a deposit. After you decide if DraftKings or BetMGM is better, place your first bet.
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DraftKings vs BetMGM FAQs
Do DraftKings and BetMGM have mobile sports betting apps?
Yes. Users can download the BetMGM and DraftKings app by visiting the Google Play or Apple Store. The apps can be used on devices such as mobile phones, tablets, and more.
Does DraftKings or BetMGM offer in-game betting?
Yes. There is the ability for live betting. Each sportsbook offers a long list of live odds on major sports events across the world. The odds are constantly changing based on what is happening during the event.
Are BetMGM and DraftKings legal sportsbooks?
Yes. BetMGM and DraftKings are legal and regulated sportsbooks where online sports betting is live in the United States.
Does BetMGM or DraftKings have better promotions?
This comes down to personal preference and what you are looking to bet. BetMGM Sportsbook has a substantial $1,000 first bet insurance while DraftKings has a deposit welcome bonus.
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